Prepared Drier Market

The article provides a comprehensive overview of the global market trends for prepared drier consumption, production, imports, and exports from 2012 to 2022. It highlights the key countries with the highest volumes and values in each category and the growth rates observed over the period. The anticipated growth in market value and volume up to 2030 is also discussed, with forecasted CAGR figures. The data presents a detailed analysis of the market dynamics and patterns observed in the prepared drier industry, offering insights for stakeholders and decision-makers.

Market Forecast

Driven by rising demand for prepared drier worldwide, the market is expected to start an upward consumption trend over the next eight-year period. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +0.8% for the period from 2022 to 2030, which is projected to bring the market volume to 182K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.5% for the period from 2022 to 2030, which is projected to bring the market value to $1.4B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Prepared Driers

In 2022, consumption of prepared driers decreased by -2.8% to 171K tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, consumption saw a slight contraction. The pace of growth was the most pronounced in 2021 when the consumption volume increased by 1.2% against the previous year. Global consumption peaked at 207K tons in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

The global prepared drier market value reduced slightly to $1.1B in 2022, which is down by -3.1% 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). Overall, consumption showed a relatively flat trend pattern. As a result, consumption reached the peak level of $1.2B. From 2019 to 2022, the growth of the global market remained at a somewhat lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (38K tons), the United States (25K tons) and India (17K tons), together accounting for 46% of global consumption. Turkey, Japan, Indonesia, Brazil, Thailand, Spain and France lagged somewhat behind, together comprising a further 24%.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +14.0%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest prepared drier markets worldwide were Turkey ($253M), the United States ($239M) and China ($144M), with a combined 59% share of the global market.

Among the main consuming countries, Turkey, with a CAGR of +15.5%, 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 prepared drier per capita consumption in 2022 were Turkey (106 kg per 1000 persons), Spain (76 kg per 1000 persons) and the United States (73 kg per 1000 persons).

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +12.4%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Prepared Driers

After two years of growth, production of prepared driers decreased by -0.8% to 173K tons in 2022. Overall, production saw a mild decrease. The most prominent rate of growth was recorded in 2021 with an increase of 0.8% against the previous year. Over the period under review, global production attained the maximum volume at 202K tons in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

In value terms, prepared drier production reduced to $1.1B in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 34% against the previous year. Over the period under review, global production hit record highs at $1.7B in 2019; however, from 2020 to 2022, production failed to regain momentum.

Production By Country

The countries with the highest volumes of production in 2022 were China (40K tons), the United States (23K tons) and India (21K tons), with a combined 48% share of global production. Turkey, Japan, Thailand, Spain, Brazil, Belgium, Indonesia, France, South Korea and the United Arab Emirates lagged somewhat behind, together accounting for a further 35%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the leading producing countries, was attained by Turkey (with a CAGR of +9.8%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Prepared Driers

After three years of growth, supplies from abroad of prepared driers decreased by -22.1% to 41K tons in 2022. In general, imports saw a mild slump. The pace of growth appeared the most rapid in 2021 with an increase of 8.9%. Global imports peaked at 53K tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, prepared drier imports shrank to $238M in 2022. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 23%. As a result, imports attained the peak of $261M, and then reduced in the following year.

Imports By Country

The countries with the highest levels of prepared drier imports in 2022 were the United States (2.9K tons), the Netherlands (2.9K tons), Germany (2.8K tons) and China (2.7K tons), together accounting for 28% of total import. The following importers - Indonesia (1.7K tons), France (1.3K tons), Bangladesh (1.1K tons), Spain (1K tons), the UK (1K tons), Poland (0.9K tons), Russia (0.9K tons), Malaysia (0.9K tons) and Vietnam (0.8K tons) - together made up 24% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Spain (with a CAGR of +6.5%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest prepared drier importing markets worldwide were China ($27M), the United States ($17M) and Germany ($17M), with a combined 26% share of global imports. The Netherlands, France, Indonesia, the UK, Spain, Russia, Malaysia, Poland, Vietnam and Bangladesh lagged somewhat behind, together accounting for a further 28%.

Among the main importing countries, Spain, with a CAGR of +10.6%, saw the highest growth rate of 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 prepared drier import price stood at $5,882 per ton in 2022, increasing by 17% against the previous year. Over the last decade, it increased at an average annual rate of +1.9%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($9,943 per ton), while Bangladesh ($3,302 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+3.9%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Prepared Driers

Global prepared drier exports declined remarkably to 43K tons in 2022, dropping by -15.8% against 2021 figures. In general, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when exports increased by 11% against the previous year. The global exports peaked at 51K tons in 2021, and then reduced notably in the following year.

In value terms, prepared drier exports stood at $251M in 2022. The total export value increased at an average annual rate of +1.9% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 20% against the previous year. Over the period under review, the global exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports By Country

The biggest shipments were from China (4.9K tons), India (4.4K tons), Belgium (4.1K tons), Spain (3.8K tons), Turkey (3.7K tons), Thailand (3.3K tons), the UK (2.7K tons), Egypt (2.1K tons), the United Arab Emirates (2.1K tons), France (1.6K tons), Colombia (1.3K tons) and the Netherlands (1.2K tons), together amounting to 82% of total export.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Egypt (with a CAGR of +133.6%), while the other global leaders experienced more modest paces of growth.

In value terms, Belgium ($26M), China ($21M) and Spain ($21M) appeared to be the countries with the highest levels of exports in 2022, together comprising 27% of global exports. Thailand, Turkey, India, France, the UK, Egypt, the United Arab Emirates, the Netherlands and Colombia lagged somewhat behind, together comprising a further 48%.

Among the main exporting countries, Egypt, with a CAGR of +140.2%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average prepared drier export price amounted to $5,878 per ton, increasing by 20% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.9%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was France ($9,048 per ton), while India ($4,186 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+6.7%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform