Potato Starch Market

The article discusses the projected growth of the global potato starch market, with consumption volumes expected to increase steadily over the next eight years. Market performance is forecasted to expand at a CAGR of +2.1% in volume and +4.4% in value from 2022 to 2030, reaching 10M tons and $13.4B respectively. The largest consumers and producers of potato starch are highlighted, with key importing and exporting countries also identified. The article provides insights into consumption trends, production volumes, export prices, and import values to offer a comprehensive overview of the potato starch market dynamics.

Market Forecast

Driven by increasing demand for potato starch worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +2.1% for the period from 2022 to 2030, which is projected to bring the market volume to 10M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.4% for the period from 2022 to 2030, which is projected to bring the market value to $13.4B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Potato Starch

In 2022, approx. 8.6M tons of potato starch were consumed worldwide; with an increase of 1.6% on the year before. The total consumption volume increased at an average annual rate of +3.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, global consumption attained the maximum volume in 2022 and is expected to retain growth in the immediate term.

The global potato starch market size expanded modestly to $9.4B in 2022, increasing by 2.1% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +2.7% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. Over the period under review, the global market reached the maximum level in 2022 and is likely to see steady growth in the immediate term.

Consumption By Country

The country with the largest volume of potato starch consumption was China (1.4M tons), accounting for 16% of total volume. Moreover, potato starch consumption in China exceeded the figures recorded by the second-largest consumer, the United States (641K tons), twofold. The third position in this ranking was taken by India (537K tons), with a 6.2% share.

From 2012 to 2022, the average annual growth rate of volume in China totaled +4.5%. In the other countries, the average annual rates were as follows: the United States (+3.7% per year) and India (+3.7% per year).

In value terms, China ($1.4B), India ($1.3B) and the United States ($627M) were the countries with the highest levels of market value in 2022, together accounting for 35% of the global market. Japan, the Netherlands, Bangladesh, Brazil, Indonesia, Pakistan, Nigeria, Denmark, Mexico and Germany lagged somewhat behind, together comprising a further 22%.

In terms of the main consuming countries, the Netherlands, with a CAGR of +20.0%, saw the highest rates of growth with regard to market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of potato starch per capita consumption in 2022 were Denmark (38 kg per person), the Netherlands (21 kg per person) and Japan (2.6 kg per person).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by the Netherlands (with a CAGR of +19.7%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Potato Starch

In 2022, production of potato starch increased by 1.4% to 8M tons, rising for the second consecutive year after two years of decline. The total output volume increased at an average annual rate of +2.9% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 when the production volume increased by 11% against the previous year. Over the period under review, global production attained the maximum volume in 2022 and is likely to see gradual growth in years to come.

In value terms, potato starch production totaled $8.8B in 2022 estimated in export price. The total output value increased at an average annual rate of +2.3% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of 15% against the previous year. Over the period under review, global production attained the peak level in 2022 and is expected to retain growth in the immediate term.

Production By Country

The country with the largest volume of potato starch production was China (1.3M tons), accounting for 16% of total volume. Moreover, potato starch production in China exceeded the figures recorded by the second-largest producer, India (538K tons), twofold. The third position in this ranking was held by the United States (491K tons), with a 6.1% share.

From 2012 to 2022, the average annual growth rate of volume in China amounted to +4.6%. The remaining producing countries recorded the following average annual rates of production growth: India (+3.8% per year) and the United States (+3.2% per year).

Imports

World Imports of Potato Starch

In 2022, supplies from abroad of potato starch decreased by -1.3% to 1.3M tons for the first time since 2019, thus ending a two-year rising trend. The total import volume increased at an average annual rate of +3.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by 21%. As a result, imports reached the peak of 1.3M tons, and then contracted modestly in the following year.

In value terms, potato starch imports rose remarkably to $1.1B in 2022. The total import value increased at an average annual rate of +3.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 18% against the previous year. Global imports peaked in 2022 and are likely to see gradual growth in the near future.

Imports By Country

In 2022, the United States (158K tons), the Netherlands (124K tons), South Korea (95K tons), Germany (85K tons), the UK (75K tons), Belgium (74K tons), Italy (61K tons), France (53K tons), Taiwan (Chinese) (40K tons), Spain (36K tons), China (35K tons) and Russia (30K tons) represented the key importer of potato starch in the world, achieving 66% of total import. Thailand (26K tons) held a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +8.6%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest potato starch importing markets worldwide were the United States ($134M), the Netherlands ($86M) and South Korea ($73M), together accounting for 28% of global imports. The UK, Germany, Italy, Belgium, France, Russia, China, Spain, Taiwan (Chinese) and Thailand lagged somewhat behind, together comprising a further 37%.

In terms of the main importing countries, Russia, with a CAGR of +10.6%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average potato starch import price stood at $804 per ton in 2022, growing by 14% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. Global import price peaked at $881 per ton in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Russia ($1,027 per ton), while Belgium ($583 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+4.9%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Potato Starch

In 2022, overseas shipments of potato starch decreased by -5.6% to 724K tons for the first time since 2019, thus ending a two-year rising trend. Overall, total exports indicated a tangible expansion from 2012 to 2022: its volume increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +58.6% against 2019 indices. The growth pace was the most rapid in 2021 when exports increased by 50%. As a result, the exports attained the peak of 766K tons, and then declined in the following year.

In value terms, potato starch exports rose remarkably to $558M in 2022. In general, total exports indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +43.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 33%. Over the period under review, the global exports hit record highs in 2022 and are likely to see gradual growth in years to come.

Exports By Country

Germany was the main exporting country with an export of around 294K tons, which reached 41% of total exports. Poland (113K tons) held a 16% share (based on physical terms) of total exports, which put it in second place, followed by France (16%) and Belgium (7.8%). The Netherlands (31K tons), Canada (24K tons) and the Czech Republic (16K tons) followed a long way behind the leaders.

Exports from Germany decreased at an average annual rate of -2.2% from 2012 to 2022. At the same time, the Czech Republic (+6.1%), Belgium (+5.0%), Poland (+4.6%) and Canada (+2.3%) displayed positive paces of growth. Moreover, the Czech Republic emerged as the fastest-growing exporter exported in the world, with a CAGR of +6.1% from 2012-2022. The Netherlands experienced a relatively flat trend pattern. By contrast, France (-19.9%) illustrated a downward trend over the same period. While the share of France (+16 p.p.), Poland (+3.5 p.p.) and Belgium (+2 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Germany (-21.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($228M) remains the largest potato starch supplier worldwide, comprising 41% of global exports. The second position in the ranking was held by Poland ($96M), with a 17% share of global exports. It was followed by France, with a 14% share.

In Germany, potato starch exports shrank by an average annual rate of -2.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Poland (+8.2% per year) and France (-11.6% per year).

Export Prices By Country

In 2022, the average potato starch export price amounted to $771 per ton, surging by 14% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The global export price peaked at $853 per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Poland ($849 per ton), while Canada ($559 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+10.5%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform