Canada - Nitrites - Market Analysis, Forecast, Size, Trends And Insights
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View PricingNitrites Price in Canada Grows Significantly to $1,731 per Ton, Fluctuating Wildly over 2022
Canada Nitrites Import Price in September 2022
In September 2022, the nitrites price stood at $1,731 per ton (CIF, Canada), with an increase of 41% against the previous month. Over the period under review, import price indicated a strong increase from January 2022 to September 2022: its price increased at an average monthly rate of +5.8% over the last eight-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on September 2022 figures, nitrites import price increased by +61.6% against June 2022 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.
There were significant differences in the average prices amongst the major supplying countries. In September 2022, the country with the highest price was India ($5,123 per ton), while the price for the United States ($1,630 per ton) was amongst the lowest.
From January 2022 to September 2022, the most notable rate of growth in terms of prices was attained by Germany (+7.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Canada Nitrites Imports
In September 2022, the amount of nitrites imported into Canada rose slightly to 410 tons, growing by 1.7% on the month before. In general, imports, however, recorded a perceptible descent. The pace of growth appeared the most rapid in April 2022 when imports increased by 21% m-o-m. As a result, imports attained the peak of 588 tons. From May 2022 to September 2022, the growth of imports remained at a somewhat lower figure.
In value terms, nitrites imports skyrocketed to $711K (IndexBox estimates) in September 2022. The total import value increased at an average monthly rate of +1.3% from January 2022 to September 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at 732 tons in February 2022; afterwards, it flattened through to September 2022.
Canada Nitrites Imports by Country
In September 2022, the United States (382 tons) was the main nitrites supplier to Canada, accounting for a 93% share of total imports. Moreover, nitrites imports from the United States exceeded the figures recorded by the second-largest supplier, Germany (17 tons), more than tenfold.
From January 2022 to September 2022, the average monthly rate of growth in terms of volume from the United States totaled -2.6%. The remaining supplying countries recorded the following average monthly rates of imports growth: Germany (-19.8% per month) and India (+1.0% per month).
In value terms, the United States ($623K) constituted the largest supplier of nitrites to Canada, comprising 88% of total imports. The second position in the ranking was taken by India ($59K), with an 8.3% share of total imports.
From January 2022 to September 2022, the average monthly growth rate of value from the United States totaled +3.0%. The remaining supplying countries recorded the following average monthly rates of imports growth: India (+2.1% per month) and Germany (-14.2% per month).
Factors Affecting Nitrite Prices
Nitrites are a type of preservative that is often used in processed meats, such as bacon, hot dogs, and deli meats. They are also used in some fish products, such as smoked salmon. Nitrites help to prevent the growth of bacteria and other microorganisms that can cause food spoilage or foodborne illness.
The price of nitrites varies depending on the form in which they are purchased. For example, sodium nitrite (NaNO2) is typically sold in granular or powder form and is relatively inexpensive. On the other hand, potassium nitrite (KNO2) is usually sold in tablet or liquid form and is more expensive.
Nitrites prices in Canada have been on the rise in recent years, due to a number of factors. One of the main reasons for this is the increased cost of production, as nitrites are derived from nitrogen-based chemicals. The price of these chemicals has risen sharply in recent years, due to strong demand from China. This has led to higher costs for Canadian producers, who have passed on these increases to consumers.
Another factor that has contributed to rising nitrite prices is the stronger Canadian dollar. Since nitrites are priced in US dollars, the appreciation of the loonie has made them more expensive for Canadians. This is especially true when compared to other meats, which are not subject to the same currency fluctuations.
Finally, the demand for nitrites has been growing steadily in recent years, as they are used in a variety of applications such as food preservation and curing. This has put upward pressure on prices, as producers compete for a limited supply of raw materials.
This report provides an in-depth analysis of the nitrites market in Canada. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 20152080 - Nitrites
Country coverage:
- Canada
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Canada
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
