Sucrose in solid form market in South-eastern Asia

Earlier Report Observations

The market volume for sucrose in solid form in South-eastern Asia began the period at 21 526 thousand tons in 2018, with underlying demand supported by the growing sucrose esters market, which was fueled by increased consumption of ready-to-eat products and the multifunctional properties of these derivatives. The market then contracted to 20 223 thousand tons in 2019 and fell further to 16 612 thousand tons in 2020.

A stabilization followed in 2021, with the market volume at 16 572 thousand tons. Growth resumed thereafter, reaching 17 587 thousand tons in 2022 and 18 540 thousand tons in 2023. This recovery was propelled by capacity expansions in the sucrose esters industry, notably Mitsubishi Chemical's new production lines, which increased demand for sucrose raw material. Concurrently, high-volume production of convenience foods and instant mixes in the region, alongside sustained demand from the pharmaceutical sector, provided further impetus for market expansion.

Production sucrose in solid form in South-eastern Asia

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

Production of solid sucrose in South-eastern Asia declined for the second year in a row. In 2020, the region produced 17 022 K t, representing a significant 12.5% decrease compared to the previous year. Over the 2017-2020 period, 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, which saw a 19.5% increase. The largest decline occurred in 2019, dropping by 13.1%.

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

Exports sucrose in solid form from South-eastern Asia

Exports in kind, K t

The market exhibited volatility throughout the observed period. Exports reached their lowest point in 2019 at 357 K t, with the largest decline that year of 81.4%. They peaked in 2017, showing a 10.8-fold difference between these years. In 2020, South-eastern Asia exported 1 165 K t of solid sucrose, marking a substantial 226.5% increase from the previous year.

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

From 2017 to 2020, no single market dominated solid sucrose exports from South-eastern Asia. China accounted for 16.2% of exports in kind, Asia (not elsewhere specified) for 11.5%, and South Korea for 2.6%, totaling only 30.3% of total exports. Many smaller partners each held modest individual shares, reflecting a fragmented market structure.

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

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

Exports in value, M $ US

Market performance showed noticeable fluctuations during this period. Exports in value terms hit their lowest point in 2019 at 233 M $ US, with the largest decline that year of 88.4%. They peaked in 2017, resulting in a 10.9-fold swing between these years. In 2020, foreign supplies of solid sucrose from South-eastern Asia amounted to 1 172 M $ US, a remarkable 403.5% improvement compared to the previous year.

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

During 2017-2020, exports of solid sucrose from South-eastern Asia in value terms were distributed across numerous markets. China represented 25.8% of exports in value terms, Asia (not elsewhere specified) 10.5%, and South Korea 2.4%, jointly accounting for only 38.7% of total flows, indicating a highly diversified export landscape.

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

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

Imports sucrose in solid form to South-eastern Asia

Imports in kind, K t

In 2020, solid sucrose imports into South-eastern Asia totaled 755 K t, a 32.3% decrease from 2019. Over the 2017-2020 period, imports fell by 61.5%, with a compound annual growth rate of 27.2%. The largest decline was recorded in 2018 at 47.1%, while the largest increase occurred in 2019, rising by 7.6%.

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

Between 2017 and 2020, India (15.6% of imports in kind), Australia (5.0%), and Brazil (3.5%) formed the largest group of suppliers of solid sucrose to South-eastern Asia. However, their combined contribution was limited to 24.1% of total imports in kind, highlighting a diversified supplier structure with many smaller partners.

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

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

Imports in value, M $ US

After a two-year decrease, solid sucrose imports into South-eastern Asia increased. In 2020, imports stood at 943 M $ US, up 68.7% year-over-year. Between 2017 and 2020, imports decreased by 25%, equating to an annualized rate of 9.1%. The lowest value was recorded in 2019 at 559 M $ US, with the largest decline that year of 47.7%.

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

From 2017 to 2020, solid sucrose was imported into South-eastern Asia from many countries. Even the largest destinations—India, Australia, and Brazil—together represented only 24.0% of total imports in value terms, underscoring the region's broad and varied import sources.

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

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