The latest report by IMARC, titled "Citric Acid Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data," delivers a comprehensive analysis of citric Acid prices on a global and regional scale, highlighting the pivotal factors contributing to price changes. This detailed examination includes spot price evaluations at key ports and an analysis of pricing structures, such as Ex Works, FOB, and CIF, across North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Citric Acid Prices December 2023:
- South Korea: $ 765/MT
- Germany: $ 1615/MT
- Belgium: $ 1265/MT
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The study delves into the factors affecting citric Acid price variations, including alterations in the cost of raw materials, the balance of supply and demand, geopolitical influences, and sector-specific developments.
The report also incorporates the most recent updates from the market, equipping stakeholders with the latest information on market fluctuations, regulatory modifications, and technological progress. It serves as an exhaustive resource for stakeholders, enhancing strategic planning and forecast capabilities.
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Citric Acid Price Trend- Q4 2023
The global citric acid market is primarily influenced by its demand in various end-use industries, such as food and beverages (FB), pharmaceuticals, and cosmetics. Citric acid has multifunctional properties, including acidity regulation, flavor enhancement, and antioxidant properties, making it a versatile ingredient in these sectors. Additionally, the rising focus on natural and clean-label products is catalyzing the demand for citric acid. Furthermore, increasing consumer awareness about the importance of health and wellness is impelling market growth. Moreover, the expanding application scope of citric acid in industrial processes, such as cleaning agents, chelating agents, and water treatment, is contributing to the market growth.
The global citric acid market size reached US$ 2.9 Million Tons in 2023. By 2032, IMARC Group expects the market to reach US$ 3.7 Million Tons, at a projected CAGR of 2.60% during 2023-2032. The citric acid market across various regions experienced various dynamics in Q4 of 2023, each influenced by distinct factors. In the North America region, particularly in the USA, the citric acid market witnessed notable dynamics in Q4 2023. Firstly, there was an evident improvement in domestic market conditions due to increased demand and inventory restocking, primarily influenced by escalating input costs and the onset of the winter season. However, challenges emerged in the import market due to supply constraints and reduced imports from key exporting nations. Despite these obstacles, the domestic market experienced an uptick in citric acid prices, attributed to inflationary pressures across the supply chain, including rising wages and energy costs. Moreover, the decrease in imports from China compounded supply issues, contributing to upsurge in prices.
Apart from this, in Q4 of 2023, the citric acid market in the APAC region experienced price fluctuations driven by several key factors. Firstly, a global decline in prices due to reduced international demand, particularly from major exporting nations like China and Germany. This decline was further increased by surplus inventory among German suppliers, leading to a downward price. Secondly, South Korea, a major player in the citric acid market, showcased a notable reduction in imports, indicating a strategic move to accumulate inventory to meet domestic demand. This decrease in imports, coupled with limited supply and steady demand, contributed to a price surge in the country. Additionally, the appreciation of the South Korean Won against the LJSD further influenced the pricing trend, making imports relatively more expensive. Overall, the citric acid market in the APAC region, particularly in South Korea, saw a price surge in Q4 of 2023 on account of the increased demand, limited supply, and currency fluctuations.
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Key Points Covered in the Citric Acid Pricing Report:
The report delivers the following key findings, alongside a comprehensive breakdown of prices by region:
- Citric Acid Prices
- Citric Acid Price Trend
- Citric Acid Demand Supply
- Citric Acid Market Analysis
- Demand Supply Analysis by Type
- Demand Supply Analysis by Application
- Demand Supply Analysis of Raw Materials
- Citric Acid Price Analysis
- Citric Acid Industry Drivers, Restraints, and Opportunities
- Citric Acid News and Recent Developments
- Global Event Analysis
- List of Key Players
Regional Price Analysis:
- Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand*
- Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece*
- North America: United States and Canada
- Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, Peru*
- Middle East Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, Morocco*
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Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.
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IMARC is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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