Report Update Apr 1, 2024

Hong Kong SAR, China - Citric Acid and Its Salts and Esters - Market Analysis, Forecast, Size, Trends and Insights

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Hong Kong SAR, China: Citric Acid Market 2024

Citric Acid Market Size in Hong Kong SAR, China

The Hong Kong citric acid market reduced to $X in 2022, with a decrease of X% against the previous year. In general, consumption recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Citric Acid Production in Hong Kong SAR, China

In value terms, citric acid production fell to $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the production volume increased by X% against the previous year. Citric acid production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Citric Acid Exports

Exports from Hong Kong SAR, China

In 2022, citric acid exports from Hong Kong SAR reduced markedly to X tons, with a decrease of X% against the year before. In general, exports recorded a abrupt setback. The pace of growth was the most pronounced in 2019 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, citric acid exports contracted rapidly to $X in 2022. Over the period under review, exports recorded a abrupt descent. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for citric acid exports from Hong Kong SAR, accounting for a approx. X% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to China totaled X%.

In value terms, China ($X) also remains the key foreign market for citric acid and its salts and esters exports from Hong Kong SAR.

From 2012 to 2022, the average annual rate of growth in terms of value to China stood at X%.

Export Prices by Country

The average citric acid export price stood at $X per ton in 2022, stabilizing at the previous year. In general, the export price enjoyed a resilient increase. The most prominent rate of growth was recorded in 2019 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the average export prices failed to regain momentum.

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 X% per year.

Citric Acid Imports

Imports into Hong Kong SAR, China

In 2022, purchases abroad of citric acid and its salts and esters decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, citric acid imports reached $X in 2022. Overall, imports, however, showed a modest increase. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in the near future.

Imports by Country

China (X tons), Germany (X tons) and Belgium (X tons) were the main suppliers of citric acid imports to Hong Kong SAR, with a combined X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of X%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest citric acid suppliers to Hong Kong SAR were Germany ($X), China ($X) and Belgium ($X), with a combined X% share of total imports.

In terms of the main suppliers, Germany, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average citric acid import price amounted to $X per ton, jumping by X% against the previous year. Overall, import price indicated a remarkable increase 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. The growth pace was the most rapid in 2021 when the average import price increased by X%. Over the period under review, average import prices hit record highs in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for citric acid and its salts and esters in the world?

The countries with the highest volumes of consumption in 2023 were China, India and the United States, with a combined 33% share of global consumption. Germany, Brazil, Mexico, Japan, Italy, Russia, Thailand, Democratic Republic of the Congo, Turkey and Poland lagged somewhat behind, together comprising a further 24%.

What are the largest producers of citric acid and its salts and esters in the world?

China remains the largest citric acid producing country worldwide, comprising approx. 57% of total volume. Moreover, citric acid production in China exceeded the figures recorded by the second-largest producer, India, eightfold. The United States ranked third in terms of total production with a 5.8% share.

What are the leading suppliers of citric acid and its salts and esters to Hong Kong SAR, China?

In value terms, the largest citric acid suppliers to Hong Kong SAR were Germany, China and Belgium, with a combined 95% share of total imports.

What are the leading importers of citric acid and its salts and esters from Hong Kong SAR, China?

In value terms, China remains the key foreign market for citric acid and its salts and esters exports from Hong Kong SAR.

What is the average export price for citric acid and its salts and esters in Hong Kong SAR, China?

In 2022, the average citric acid export price amounted to $3,418 per ton, almost unchanged from the previous year.

What is the average import price for citric acid and its salts and esters in Hong Kong SAR, China?

In 2022, the average citric acid import price amounted to $2,805 per ton, increasing by 27% against the previous year.

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.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
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
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
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
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023