Hong Kong SAR, China - Citric Acid And Its Salts And Esters - Market Analysis, Forecast, Size, Trends And Insights
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View PricingCitric Acid Price in Hong Kong SAR - 2023
Contents:
- Citric Acid Price in Hong Kong SAR (CIF) - 2022
- Citric Acid Price in Hong Kong SAR (FOB) - 2022
- Citric Acid Imports in Hong Kong SAR
- Citric Acid Exports in Hong Kong SAR
Citric Acid Price in Hong Kong SAR (CIF) - 2022
The average citric acid import price stood at $2,805 per ton in 2022, increasing by 27% against the previous year. In general, import price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of +7.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, citric acid import price increased by +88.0% against 2020 indices. The pace of growth was the most pronounced in 2021 an increase of 48%. The import price peaked in 2022 and is expected to retain growth in years to come.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($4,015 per ton), while the price for Belgium ($1,599 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+46.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Citric Acid Price in Hong Kong SAR (FOB) - 2022
The average citric acid export price stood at $3,418 per ton in 2022, approximately mirroring the previous year. Over the period under review, the export price enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2019 an increase of 70% against the previous year. As a result, the export price attained the peak level of $5,295 per ton. From 2020 to 2022, the average export prices remained at a somewhat lower figure.
As there is only one major export destination, the average price level is determined by prices for China.
From 2012 to 2022, the rate of growth in terms of prices for China amounted to +2.5% per year.
Citric Acid Imports in Hong Kong SAR
In 2022, after three years of growth, there was significant decline in overseas purchases of citric acid and its salts and esters, when their volume decreased by -20.5% to 888 tons. Over the period under review, total imports indicated strong growth from 2019 to 2022: its volume increased at an average annual rate of +8.0% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +25.9% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 26%. As a result, imports attained the peak of 1.1K tons, and then dropped markedly in the following year.
In value terms, citric acid imports reached $2.5M in 2022. In general, imports, however, recorded significant growth. The pace of growth appeared the most rapid in 2021 with an increase of 86% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the immediate term.
Import of Citric Acid in Hong Kong SAR (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Germany | N/A | 504 | 1,254 | 1,183 | 53.2% |
China | 793 | 499 | 748 | 1,108 | 11.8% |
Belgium | 123 | 151 | 133 | 81.9 | -12.7% |
Netherlands | 147 | 132 | 259 | 61.2 | -25.3% |
Others | 156 | 35.1 | 68.0 | 57.6 | -28.3% |
Total | 1,219 | 1,320 | 2,461 | 2,491 | 26.9% |
Top Suppliers of Citric Acid to Hong Kong SAR in 2022:
- China (478.7 tons)
- Germany (335.6 tons)
- Belgium (51.2 tons)
- Netherlands (15.3 tons)
Citric Acid Exports in Hong Kong SAR
Citric acid exports from Hong Kong SAR contracted sharply to 352 tons in 2022, which is down by -45% against 2021 figures. Over the period under review, exports faced a drastic downturn. The most prominent rate of growth was recorded in 2021 with an increase of 35%. As a result, the exports attained the peak of 640 tons, and then declined significantly in the following year.
In value terms, citric acid exports fell dramatically to $1.2M in 2022. Overall, exports saw a precipitous decrease. The pace of growth was the most pronounced in 2021 when exports increased by 24%.
Export of Citric Acid in Hong Kong SAR (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
China | 2.5 | 1.7 | 2.0 | 1.2 | -21.7% |
Spain | 0.2 | N/A | N/A | N/A | 0% |
Others | 0.1 | N/A | 0.1 | N/A | 0.0% |
Total | 2.8 | 1.7 | 2.2 | 1.2 | -24.6% |
Top Export Markets for Citric Acid from Hong Kong SAR in 2022:
- China (350.8 tons)
This report provides an in-depth analysis of the citric acid market in Hong Kong SAR, 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 20143473 - Citric acid and its salts and esters
Country coverage:
- Hong Kong SAR
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Hong Kong SAR, 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
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