Report Update Apr 1, 2024

Latvia - Glutamic Acid and Its Salts - Market Analysis, Forecast, Size, Trends and Insights

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Latvia: Glutamic Acid Market 2024

Glutamic Acid Market Size in Latvia

The Latvian glutamic acid market contracted markedly to $X in 2022, which is down by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, saw a prominent expansion. As a result, consumption attained the peak level of $X, and then declined sharply in the following year.

Glutamic Acid Exports

Exports from Latvia

In 2022, overseas shipments of glutamic acid and its salts increased by X% to X tons, rising for the second year in a row after three years of decline. In general, exports posted a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, the exports reached the peak figure at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, glutamic acid exports skyrocketed to $X in 2022. Overall, exports showed a significant increase. The pace of growth was the most pronounced in 2013 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Lithuania (X tons) was the main destination for glutamic acid exports from Latvia, with a X% share of total exports. It was followed by Uzbekistan (X kg), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Lithuania stood at X%.

In value terms, Lithuania ($X) remains the key foreign market for glutamic acid and its salts exports from Latvia, comprising X% of total exports. The second position in the ranking was taken by Uzbekistan ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Lithuania amounted to X%.

Export Prices by Country

The average glutamic acid export price stood at $X per ton in 2022, reducing by X% against the previous year. In general, the export price saw a perceptible reduction. The growth pace was the most rapid in 2020 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Uzbekistan ($X per ton), while the average price for exports to Lithuania totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Uzbekistan (X%), while the prices for the other major destinations experienced a decline.

Glutamic Acid Imports

Imports into Latvia

In 2022, supplies from abroad of glutamic acid and its salts increased by X% to X tons, rising for the second consecutive year after two years of decline. In general, imports saw a strong increase. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, glutamic acid imports soared to $X in 2022. Over the period under review, imports showed buoyant growth. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

France (X tons), Germany (X tons) and Poland (X tons) were the main suppliers of glutamic acid imports to Latvia, together accounting for X% of total imports. Lithuania and the Netherlands lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest glutamic acid suppliers to Latvia were France ($X), Germany ($X) and Poland ($X), with a combined X% share of total imports.

Among the main suppliers, Germany, with a CAGR of X%, saw the highest growth rate of 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

The average glutamic acid import price stood at $X per ton in 2022, increasing by X% against the previous year. In general, import price indicated temperate growth 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, glutamic acid import price increased by X% against 2019 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from the Netherlands ($X per ton) and France ($X per ton), while the price for Germany ($X per ton) and Lithuania ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (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 glutamic acid and its salts in the world?

The countries with the highest volumes of consumption in 2022 were Japan, Nigeria and Indonesia, with a combined 30% share of global consumption.

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

China remains the largest glutamic acid producing country worldwide, comprising approx. 65% of total volume. Moreover, glutamic acid production in China exceeded the figures recorded by the second-largest producer, Brazil, fivefold. The third position in this ranking was taken by Indonesia, with a 10% share.

What are the leading suppliers of glutamic acid and its salts to Latvia?

In value terms, France, Germany and Poland were the largest glutamic acid suppliers to Latvia, with a combined 87% share of total imports.

What are the leading importers of glutamic acid and its salts from Latvia?

In value terms, Lithuania remains the key foreign market for glutamic acid and its salts exports from Latvia, comprising 92% of total exports. The second position in the ranking was taken by Uzbekistan, with a 0.5% share of total exports.

What is the average export price for glutamic acid and its salts in Latvia?

In 2022, the average glutamic acid export price amounted to $2,765 per ton, waning by -41.6% against the previous year.

What is the average import price for glutamic acid and its salts in Latvia?

In 2022, the average glutamic acid import price amounted to $2,619 per ton, surging by 44% against the previous year.

This report provides an in-depth analysis of the glutamic acid market in Latvia. 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 21102020 - Glutamic acid and its salts

Country coverage:

Latvia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Latvia
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