Starches market in Eastern Asia

Earlier Report Observations

Between 2018 and 2019, the starch market volume in Eastern Asia remained relatively stable at around 5.9 million tonnes. During this period, the industry grappled with significant overcapacity in corn starch, which prompted a wave of mergers and acquisitions. Simultaneously, the push for green manufacturing accelerated with the establishment of a dedicated committee and the introduction of technical standards for the agricultural use of wastewater from potato starch production.

Market growth began in 2020, reaching 6.1 million tonnes as the COVID-19 pandemic disrupted supply chains and altered demand. A major expansion followed in 2021, with volume surging by 22.5% to 7.5 million tonnes. This jump was primarily driven by increased demand from the food processing and pharmaceutical sectors during the pandemic, alongside the release of new deep-processing capacity and higher industry concentration.

The market peaked at 8.2 million tonnes in 2022, though growth moderated. During this phase, the correlation between starch and corn prices weakened, and grain imports declined, pointing to tighter raw material conditions. In 2023, the market contracted by 6.6% to 7.7 million tonnes. This coincided with a drop in domestic tapioca starch production and a significant rise in tapioca starch imports to meet demand, reflecting a shift in supply structures for specific starch types amid the industry's ongoing green transformation.

Production starches in Eastern Asia

In kind, 2017-2020, K t

Top producers of starches, 2017-2020

World map of production of starches, 2017-2020

Starch production in Eastern Asia has declined for the second year in a row. In 2020, the region produced 3 656 K t of starches, marking a moderate decrease of 5.2% from the previous year. Looking at the period from 2017 to 2020, production fell by 9.3%, with an average annual decline of 3.2%. The highest production level was recorded in 2018 at 4 100 K t. The most significant drop occurred in 2019, with a 6.0% decrease, while the largest increase was seen in 2018 at 1.7%.

Annual dynamics of production in Eastern Asia in kind, 2017-2020, K t

In value, 2017-2020, M $ US

Starch production in Eastern Asia has now declined for three consecutive years. In 2020, the output was valued at 1 471 M $ US, reflecting a moderate reduction of 7.3% compared to 2019. From 2017 to 2020, production value decreased by 22.6%, which translates to an annualized decline of 8.2%.

Annual dynamics of production in Eastern Asia in value, 2017-2020, M $ US

Exports starches from Eastern Asia

Exports in kind, K t

The market exhibited notable volatility during these years. Export volumes varied significantly, with a 2.4-fold difference between the low in 2017 and the high in 2019. In 2020, Eastern Asia exported 719 K t of starches, representing a decline of 10.8% from 2019. The peak export volume was recorded in 2019 at 806 K t, while the largest increase occurred in 2018 with a jump of 75.3%.

Annual dynamics of product's exports from Eastern Asia in kind, 2017-2020, K t

From 2017 to 2020, Indonesia, Malaysia, and the Philippines emerged as the primary markets for starch exports in kind. Indonesia accounted for 41.3% of exports, Malaysia for 16.5%, and the Philippines for 10.1%. Together, these three countries represented 67.9% of total export flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Eastern Asia in kind, 2017-2020

Exports in value, M $ US

After two years of growth, starch exports from Eastern Asia declined in 2020. Exports were valued at 289 M $ US, showing a strong decrease of 12.9% from the previous year. Over the 2017-2020 period, however, export value increased by 79.7%, with an average annual growth rate of 21.6%. The highest value was recorded in 2019 at 332 M $ US, and the largest increase occurred in 2018 with a rise of 65.2%.

Annual dynamics of product's exports from Eastern Asia in value, 2017-2020, M $ US

During 2017-2020, Indonesia, Malaysia, and the Philippines were the key destinations for starch exports in value terms. Indonesia held a 33.5% share, Malaysia 13.9%, and the Philippines 8.2%. Collectively, these three markets accounted for 55.6% of total export flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Eastern Asia in value, 2017-2020

Imports starches to Eastern Asia

Imports in kind, K t

Starch imports into Eastern Asia increased for the second consecutive year. In 2020, imports reached 3 182 K t, up by 14.3% from the previous year. From 2017 to 2020, import volumes grew by 14.2%, with an average annual increase of 4.5%. The lowest import level was recorded in 2018 at 2 396 K t, which also saw the largest decline of 14.0%. The most significant increase occurred in 2019 with a 16.2% rise.

Annual dynamics of product's imports to Eastern Asia in kind, 2017-2020, K t

Between 2017 and 2020, Thailand and Vietnam dominated as the main sources for starch imports in kind. Together, they accounted for 87.4% of total import flows, with the remaining share going to other markets.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Eastern Asia in kind, 2017-2020

Imports in value, M $ US

Starch imports into Eastern Asia have increased for the third year in a row. In 2020, imports were valued at 1 410 M $ US, representing a 7.3% increase from the previous year. Over the 2017-2020 period, import value rose by 33.1%, with an average annual growth rate of 10.0%.

Annual dynamics of product's imports to Eastern Asia in value, 2017-2020, M $ US

Throughout 2017-2020, Thailand and Vietnam remained the key partner countries for starch imports in value terms. Their combined share accounted for 80.4% of total import flows, while other partners made up the remainder.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Eastern Asia in value, 2017-2020