Sucrose in solid form market in ASEAN

Earlier Report Observations

The market volume for sucrose in solid form in ASEAN declined from 21,498 thousand tons in 2018 to 16,558 thousand tons in 2021, a drop of over 20%, before recovering to 18,532 thousand tons by 2023. This recovery was accompanied by a steady increase in imports, which more than doubled from 745 thousand tons in 2020 to 1,519 thousand tons in 2023.

In 2024, imports rose further to 1,760 thousand tons while exports contracted to 1,054 thousand tons. This movement aligned with Mitsubishi Chemical's March 2024 expansion of sugar ester production capacity in Japan, which bolstered supply for the Asia-Pacific region. Concurrently, global supply chain disruptions and weather-related challenges affected sugarcane yields, and growing consumer preference for natural, clean-label products in food and personal care drove demand for sucrose-based ingredients.

Production sucrose in solid form in ASEAN

In kind, 2017-2020, K t

Top producers of sucrose in solid form, 2017-2020

World map of production of sucrose in solid form, 2017-2020

ASEAN's production of sucrose in solid form has declined for the second year in a row. In 2020, the region produced 17 022 K t, which represents a significant 12.5% decrease compared to 2019. Looking at the period from 2017 to 2020, overall production fell by 9.2%, with a compound annual growth rate of 3.2%. The highest production level was recorded in 2018 at 22 404 K t, marking a 19.5% increase that year. The largest decline occurred in 2019, with a drop of 13.1%.

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

Exports sucrose in solid form from ASEAN

Exports in kind, K t

The data shows irregular changes, pointing to a volatile market environment. Exports peaked in 2017 and hit their lowest point in 2019, with a 10.8-fold difference between these years. In 2020, ASEAN exported 1 165 K t of sucrose in solid form, which was a sharp increase of 225.6% compared to the previous year. The minimum export volume was recorded in 2019 at 358 K t, with the largest decline that year of 81.5%.

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

The structure of exports in kind from 2017 to 2020 indicates a diversified set of trading partners. China accounted for 16.2% of exports in kind, Asia (not elsewhere specified) for 11.5%, and South Korea for 2.6%. Together, these three markets represented only 30.3% of total flows, while the remaining 69.7% was spread across numerous smaller markets.

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

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

Exports in value, M $ US

The market exhibited an unstable trend throughout this period. Export values fluctuated significantly, with a 10.9-fold difference between the high in 2017 and the low in 2019. In 2020, ASEAN exported sucrose in solid form worth 1 172 M $ US, which was a substantial year-on-year increase of 403.5%. The minimum value was recorded in 2019 at 233 M $ US, with the largest decline that year of 88.4%.

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

From 2017 to 2020, sucrose in solid form from ASEAN was supplied to many different markets. Even the largest destinations—China, Asia (not elsewhere specified), and South Korea—together represented only 38.7% of total exports in value terms.

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

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

Imports sucrose in solid form to ASEAN

Imports in kind, K t

In 2020, ASEAN's imports of sucrose in solid form stood at 745 K t, down by 32.8% compared to the previous year. Over the period from 2017 to 2020, imports decreased by 62%, with a compound annual growth rate of 27.6%. The largest decline was recorded in 2018 at 47.3%, while the largest increase occurred in 2019 with a rise of 7.2%.

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

From 2017 to 2020, the country breakdown of imports in kind remained scattered. India accounted for 15.5% of imports in kind, Australia for 5.1%, and Brazil for 3.5%. Together, these three partners represented just 24.0% of total flows, with no single country emerging as clearly dominant.

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

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

Imports in value, M $ US

After a two-year decline, ASEAN's imports of sucrose in solid form increased in 2020. Imports reached 939 M $ US, marking a sudden rise of 69.1% compared to 2019. Between 2017 and 2020, imports decreased by 25.3%, equating to an annualized rate of 9.3%. The minimum value was recorded in 2019 at 555 M $ US, with the largest decline that year of 47.9%.

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

From 2017 to 2020, imports in value terms were distributed across a wide set of partner countries. India accounted for 15.6% of imports in value terms, Australia for 4.4%, and Brazil for 4.0%. Together, these three countries jointly accounted for just 23.9% of total flows.

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

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