China - Glutamic Acid And Its Salts - Market Analysis, Forecast, Size, Trends And Insights
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View PricingChina's Glutamic Acid Price Reduces 2%, Averaging $1,233 per Ton After Nine Consecutive Months of Decline
China Glutamic Acid Export Price in February 2023
In February 2023, the glutamic acid price amounted to $1,233 per ton (FOB, China), which is down by -2% against the previous month. In general, the export price recorded a slight setback. The pace of growth was the most pronounced in April 2022 when the average export price increased by 0.2% month-to-month. The export price peaked at $1,383 per ton in February 2022; however, from March 2022 to February 2023, the export prices stood at a somewhat lower figure.
Average prices varied noticeably for the major foreign markets. In February 2023, the highest price was recorded for prices to Taiwan (Chinese) ($1,326 per ton) and Japan ($1,313 per ton), while the average price for exports to the Philippines ($1,173 per ton) and Thailand ($1,202 per ton) were amongst the lowest.
From February 2022 to February 2023, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (-0.2%), while the prices for the other major destinations experienced a decline.
China Glutamic Acid Exports
In February 2023, glutamic acid exports from China dropped modestly to 68K tons, remaining stable against January 2023. In general, exports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in December 2022 when exports increased by 32% month-to-month. The exports peaked at 85K tons in June 2022; however, from July 2022 to February 2023, the exports failed to regain momentum.
In value terms, glutamic acid exports declined slightly to $84M (IndexBox estimates) in February 2023. Overall, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in December 2022 when exports increased by 32% m-o-m. The exports peaked at 114K tons in June 2022; however, from July 2022 to February 2023, the exports failed to regain momentum.
China Glutamic Acid Exports by Country
Thailand (11K tons), Indonesia (10K tons) and Vietnam (9.6K tons) were the main destinations of glutamic acid exports from China, with a combined 45% share of total exports. These countries were followed by Myanmar, India, Malaysia, the Philippines, South Korea, Nigeria, Japan, Mexico, the United Arab Emirates and Taiwan (Chinese), which together accounted for a further 39%.
From February 2022 to February 2023, the biggest increases were in India (with a CAGR of +13.1%), while shipments for the other leaders experienced more modest paces of growth.
In value terms, Thailand ($14M), Indonesia ($12M) and Vietnam ($12M) were the largest markets for glutamic acid exported from China worldwide, together comprising 45% of total exports. These countries were followed by Myanmar, India, Malaysia, South Korea, the Philippines, Nigeria, Japan, Mexico, the United Arab Emirates and Taiwan (Chinese), which together accounted for a further 40%.
India, with a CAGR of +11.5%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.
What has caused this decline?
According to industry experts, there are several factors at play. One major factor is oversupply. Many glutamic acid producers in China have been ramping up production, leading to an excess supply of the product. In addition, weaker demand from the food and feed industries has also contributed to the price drop.
Finally, the ongoing trade tensions between the US and China have added to the uncertainty and volatility in the market. Despite this downtrend, experts don't see the glutamic acid market changing drastically in the near future. Prices are expected to remain relatively stable, barring any unforeseen circumstances. For now, producers will need to adapt to the current market conditions and find new strategies to stay competitive.
This report provides an in-depth analysis of the glutamic acid market in China. 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 21102020 - Glutamic acid and its salts
Country coverage:
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in China
- 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
