ASEAN: Market for Protein Concentrates and Flavoured or Coloured Sugar Syrups 2024

Market Size for Protein Concentrates and Flavoured or Coloured Sugar Syrups in ASEAN

The ASEAN market for protein concentrates and flavoured or coloured sugar syrups declined modestly to $X in 2023, waning by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2023, consumption failed to regain momentum.

Production of Protein Concentrates and Flavoured or Coloured Sugar Syrups in ASEAN

In value terms, production of protein concentrates and flavoured or coloured sugar syrups totaled $X in 2023 estimated in export price. The total production indicated a modest increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2015 when the production volume increased by X%. Over the period under review, production of hit record highs at $X in 2016; however, from 2017 to 2023, production failed to regain momentum.

Exports of Protein Concentrates and Flavoured or Coloured Sugar Syrups

Exports in ASEAN

In 2023, shipments abroad of protein concentrates and flavoured or coloured sugar syrups decreased by X% to X tons, falling for the third consecutive year after two years of growth. Overall, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2014; however, from 2015 to 2023, the exports failed to regain momentum.

In value terms, exports of protein concentrates and flavoured or coloured sugar syrups shrank markedly to $X in 2023. In general, exports, however, posted a strong expansion. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. The level of export peaked at $X in 2022, and then reduced markedly in the following year.

Exports by Country

In 2023, Singapore (X tons) and Malaysia (X tons) represented the largest exporters of protein concentrates and flavoured or coloured sugar syrups in ASEAN, together resulting at near X% of total exports. The Philippines (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Thailand (X%). Indonesia (X tons) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for the Philippines (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) remains the largest protein concentrate and flavoured or coloured sugar syrup supplier in ASEAN, comprising X% of total exports. The second position in the ranking was held by the Philippines ($X), with a X% share of total exports. It was followed by Malaysia, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Singapore totaled X%. In the other countries, the average annual rates were as follows: the Philippines (X% per year) and Malaysia (X% per year).

Export Prices by Country

In 2023, the export price in ASEAN amounted to $X per ton, which is down by X% against the previous year. Over the period under review, the export price, however, posted a buoyant expansion. The pace of growth was the most pronounced in 2020 an increase of X%. Over the period under review, the export prices attained the peak figure at $X per ton in 2022, and then contracted remarkably in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the other leaders experienced more modest paces of growth.

Imports of Protein Concentrates and Flavoured or Coloured Sugar Syrups

Imports in ASEAN

In 2023, after three years of growth, there was significant decline in overseas purchases of protein concentrates and flavoured or coloured sugar syrups, when their volume decreased by X% to X tons. The total import volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when imports increased by X%. The volume of import peaked at X tons in 2022, and then contracted in the following year.

In value terms, imports of protein concentrates and flavoured or coloured sugar syrups declined sharply to $X in 2023. Total imports indicated buoyant growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Over the period under review, imports of reached the maximum at $X in 2022, and then reduced notably in the following year.

Imports by Country

The Philippines was the main importing country with an import of around X tons, which recorded X% of total imports. It was distantly followed by Indonesia (X tons), Malaysia (X tons), Vietnam (X tons), Singapore (X tons) and Thailand (X tons), together mixing up a X% share of total imports.

The Philippines was also the fastest-growing in terms of the protein concentrates and flavoured or coloured sugar syrups imports, with a CAGR of X% from 2012 to 2023. At the same time, Thailand (X%) and Indonesia (X%) displayed positive paces of growth. Malaysia and Vietnam experienced a relatively flat trend pattern. By contrast, Singapore (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of the Philippines and Thailand increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Philippines ($X), Singapore ($X) and Vietnam ($X) appeared to be the countries with the highest levels of imports in 2023, with a combined X% share of total imports.

The Philippines, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2023, waning by X% against the previous year. Import price indicated tangible growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, import price for protein concentrates and flavoured or coloured sugar syrups decreased by X% against 2021 indices. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2022 to 2023, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform