Asia-Pacific: Citric Acid Market 2024

Citric Acid Market Size in Asia-Pacific

The Asia-Pacific citric acid market expanded rapidly to $X in 2022, surging by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2020; afterwards, it flattened through to 2022.

Citric Acid Production in Asia-Pacific

In value terms, citric acid production shrank slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2014 when the production volume increased by X%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Join Us at HANNOVER MESSE 2024

Don’t miss your chance to connect with us directly. Schedule a personal meeting to dive deeper into how solutions.
Hall 002, Stand C10. 22 - 26 April 2024 | Hannover, Germany

Book Your Meeting

Citric Acid Exports

Exports in Asia-Pacific

Citric acid exports rose notably to X tons in 2022, growing by X% against 2021. Total exports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2016 indices. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, citric acid exports skyrocketed to $X in 2022. Over the period under review, exports saw strong growth. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The level of export peaked in 2022 and is likely to continue growth in the immediate term.

Exports by Country

China dominates exports structure, resulting at X tons, which was approx. X% of total exports in 2022. It was distantly followed by Thailand (X tons), making up a X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to citric acid exports from China stood at X%. At the same time, Thailand (X%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of X% from 2012-2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest citric acid supplier in Asia-Pacific, comprising X% of total exports. The second position in the ranking was taken by Thailand ($X), with a X% share of total exports.

In China, citric acid exports increased at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, jumping by X% against the previous year. In general, the export price posted a moderate increase. The most prominent rate of growth was recorded in 2021 when the export price increased by X%. Over the period under review, the export prices hit record highs in 2022 and is expected to retain growth in the near future.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while China stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (X%).

Citric Acid Imports

Imports in Asia-Pacific

For the seventh year in a row, Asia-Pacific recorded growth in purchases abroad of citric acid and its salts and esters, which increased by X% to X tons in 2022. Total imports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2015 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, citric acid imports soared to $X in 2022. Over the period under review, imports enjoyed a remarkable increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, India (X tons), Japan (X tons) and Indonesia (X tons) was the largest importer of citric acid and its salts and esters in Asia-Pacific, creating X% of total import. South Korea (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Pakistan (X%), Singapore (X%) and Australia (X%). Vietnam (X tons), the Philippines (X tons), Bangladesh (X tons), Taiwan (Chinese) (X tons), Thailand (X tons) and Malaysia (X tons) took a relatively small share of total imports.

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

In value terms, the largest citric acid importing markets in Asia-Pacific were India ($X), Japan ($X) and Indonesia ($X), together comprising X% of total imports. South Korea, Singapore, Vietnam, Pakistan, Australia, the Philippines, Taiwan (Chinese), Bangladesh, Thailand and Malaysia lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Bangladesh, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per ton, increasing by X% against the previous year. Import price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of X% 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 X% against 2020 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Vietnam ($X per ton), while India ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :