Vietnam - Citric Acid And Its Salts And Esters - Market Analysis, Forecast, Size, Trends And Insights
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View PricingCitric Acid Price in Vietnam - 2021
Contents:
- Citric Acid Price in Vietnam (CIF) - 2021
- Citric Acid Price in Vietnam (FOB) - 2022
- Citric Acid Imports in Vietnam
- Citric Acid Exports in Vietnam
Citric Acid Price in Vietnam (CIF) - 2021
In December 2021, the average citric acid import price amounted to $1,431 per ton, rising by 1.8% against the previous month. Over the last twelve-month period, it increased at an average monthly rate of +2.1%. The most prominent rate of growth was recorded in January 2021 an increase of 32% month-to-month. As a result, import price attained the peak level of $1,477 per ton. From February 2021 to December 2021, the average import prices remained at a somewhat lower figure.
Average prices varied somewhat amongst the major supplying countries. In December 2021, the countries with the highest prices were Japan ($1,684 per ton) and Singapore ($1,451 per ton), while the price for Thailand ($1,334 per ton) and China ($1,426 per ton) were amongst the lowest.
From December 2020 to December 2021, the most notable rate of growth in terms of prices was attained by Singapore (+2.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Citric Acid Price in Vietnam (FOB) - 2022
The average citric acid export price stood at $2,571 per ton in 2022, picking up by 45% against the previous year. In general, export price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the average export prices reached the peak figure at $2,775 per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Lao People's Democratic Republic ($3,981 per ton), while the average price for exports to South Korea ($2,011 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Nigeria (+27.9%), while the prices for the other major destinations experienced more modest paces of growth.
Citric Acid Imports in Vietnam
After three years of growth, purchases abroad of citric acid and its salts and esters decreased by -15.6% to 18K tons in 2022. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 19%. As a result, imports attained the peak of 21K tons, and then dropped sharply in the following year.
In value terms, citric acid imports declined rapidly to $19M in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 15% against the previous year. As a result, imports attained the peak of $22M, and then shrank sharply in the following year.
| Import of Citric Acid in Vietnam (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 12.2 | 12.1 | 16.8 | 12.9 | 1.9% |
| Ireland | 2.3 | 2.4 | 2.0 | 1.7 | -9.6% |
| Singapore | N/A | 0.1 | 0.1 | 1.2 | 246.4% |
| Thailand | 1.3 | 1.5 | 1.0 | 0.8 | -14.9% |
| Japan | 0.8 | 0.9 | 0.4 | 0.6 | -9.1% |
| Italy | 0.5 | 0.6 | 0.5 | 0.5 | 0.0% |
| Germany | 0.6 | 0.7 | 0.4 | 0.4 | -12.6% |
| Others | 1.0 | 1.1 | 1.0 | 0.7 | -11.2% |
| Total | 18.7 | 19.3 | 22.3 | 18.7 | 0.0% |
Top Suppliers of Citric Acid to Vietnam in 2022:
- China (12.1K tons)
- Ireland (1.9K tons)
- Singapore (1.4K tons)
- Thailand (0.9K tons)
- Japan (0.5K tons)
- Italy (0.3K tons)
- Germany (0.3K tons)
Citric Acid Exports in Vietnam
In 2022, overseas shipments of citric acid and its salts and esters decreased by -37.4% to 12 tons, falling for the second consecutive year after two years of growth. Overall, exports faced a sharp contraction. The most prominent rate of growth was recorded in 2020 with an increase of 54%. As a result, the exports reached the peak of 49 tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
In value terms, citric acid exports declined to $30K in 2022. In general, exports recorded a sharp shrinkage. The pace of growth appeared the most rapid in 2020 when exports increased by 31% against the previous year. As a result, the exports reached the peak of $99K. From 2021 to 2022, the growth of the exports remained at a lower figure.
| Export of Citric Acid in Vietnam (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 28.4 | 35.1 | 15.8 | 12.6 | -23.7% |
| Cambodia | 17.6 | 22.5 | 2.0 | 4.6 | -36.1% |
| Thailand | 1.4 | 14.4 | 5.8 | 4.2 | 44.2% |
| Lao People's Democratic Republic | 18.3 | 15.3 | 2.6 | 4.1 | -39.3% |
| Myanmar | 2.1 | 2.0 | 0.7 | 1.4 | -12.6% |
| South Korea | 3.0 | 6.1 | 1.6 | 1.3 | -24.3% |
| Others | 4.8 | 3.3 | 4.5 | 1.8 | -27.9% |
| Total | 75.6 | 98.7 | 33.0 | 29.9 | -26.6% |
Top Export Markets for Citric Acid from Vietnam in 2022:
- United States (5.8 tons)
- Thailand (2.0 tons)
- Cambodia (1.2 tons)
- Lao People's Democratic Republic (1.0 tons)
- Myanmar (0.6 tons)
- South Korea (0.6 tons)
This report provides an in-depth analysis of the citric acid market in Vietnam. 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:
- Vietnam
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Vietnam
- 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
-
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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