Latin America and the Caribbean: Glutamic Acid Market 2024

Glutamic Acid Market Size in Latin America and the Caribbean

For the third year in a row, the Latin American glutamic acid market recorded growth in sales value, which increased by X% to $X in 2022. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Glutamic Acid Production in Latin America and the Caribbean

In value terms, glutamic acid production declined to $X in 2022 estimated in export price. In general, production, however, showed a pronounced descent. The most prominent rate of growth was recorded in 2021 when the production volume increased by X%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Glutamic Acid Exports

Exports in Latin America and the Caribbean

In 2022, shipments abroad of glutamic acid and its salts was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, glutamic acid exports skyrocketed to $X in 2022. Overall, exports continue to indicate a relatively flat trend pattern. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Brazil prevails in exports structure, reaching X tons, which was near X% of total exports in 2022. Peru (X tons) held a relatively small share of total exports.

Brazil experienced a relatively flat trend pattern with regard to volume of exports of glutamic acid and its salts. Peru (X%) illustrated a downward trend over the same period. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) remains the largest glutamic acid supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was held by Peru ($X), with a X% share of total exports.

In Brazil, glutamic acid exports remained relatively stable over the period from 2012-2022.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, with an increase of X% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Peru ($X per ton), while Brazil amounted to $X per ton.

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

Glutamic Acid Imports

Imports in Latin America and the Caribbean

Glutamic acid imports surged to X tons in 2022, jumping by X% compared with the previous year's figure. Total imports indicated a prominent expansion 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. The most prominent rate of growth was recorded in 2019 when imports increased by X%. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in the immediate term.

In value terms, glutamic acid imports soared to $X in 2022. Total imports indicated a buoyant expansion from 2012 to 2022: its value 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 2018 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Mexico (X tons), distantly followed by Peru (X tons), Guatemala (X tons), Colombia (X tons) and the Dominican Republic (X tons) represented the major importers of glutamic acid and its salts, together creating X% of total imports. The following importers - Ecuador (X tons), Argentina (X tons), Brazil (X tons), Haiti (X tons), Chile (X tons), Bolivia (X tons), El Salvador (X tons) and Costa Rica (X tons) - together made up X% of total imports.

From 2012 to 2022, the biggest increases were recorded for Peru (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) constitutes the largest market for imported glutamic acid and its salts in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was held by Guatemala ($X), with a X% share of total imports. It was followed by Peru, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Mexico stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: Guatemala (X% per year) and Peru (X% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, jumping by X% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The level of import peaked at $X per ton in 2012; afterwards, it flattened through to 2022.

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 Brazil ($X per ton), while Haiti ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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