Citric Acid Price Trend Report 2024, Index, Chart, Monitor, News, Historical Prices Analysis and Forecast Data

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

𝐑𝐞𝐩𝐨𝐫𝐭 𝐎𝐟𝐟𝐞𝐫𝐢𝐧𝐠:

• 𝐌𝐨𝐧𝐭𝐡𝐥𝐲 𝐔𝐩𝐝𝐚𝐭𝐞𝐬: Annual Subscription
• 𝐐𝐮𝐚𝐫𝐭𝐞𝐫𝐥𝐲 𝐔𝐩𝐝𝐚𝐭𝐞𝐬: Annual Subscription
• 𝐁𝐢𝐚𝐧𝐧𝐮𝐚𝐥𝐥𝐲 𝐔𝐩𝐝𝐚𝐭𝐞𝐬: Annual Subscription

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.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐅𝐨𝐫 𝐚 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.imarcgroup.com/citric-acid-pricing-report/requestsample

𝐂𝐢𝐭𝐫𝐢𝐜 𝐀𝐜𝐢𝐝 𝐏𝐫𝐢𝐜𝐞 𝐓𝐫𝐞𝐧𝐝- 𝐐𝟒 𝟐𝟎𝟐𝟑:

The global citric acid market is primarily driven by its widespread application across diverse industries, including food and beverages, pharmaceuticals, and cosmetics. In the food and beverage sector, citric acid is extensively used as a flavor enhancer and preservative, valued for its ability to add a sour taste to foods and drinks, which is increasingly favored by consumers seeking more intense and diverse flavors. The rising demand for natural preservatives and the shift towards clean-label ingredients have further bolstered the market, as citric acid is perceived as a safer and more natural alternative compared to synthetic additives.

Additionally, in the pharmaceutical industry, citric acid plays a crucial role as an acidulant in the formulation of effervescent tablets and as a buffering agent in medications, enhancing the demand in this sector. The ongoing innovation and development of biotechnological production methods, primarily fermentation, have improved yield and cost-effectiveness, propelling supply chain efficiency and market growth.

Environmental concerns and the biodegradable nature of citric acid also align with the growing consumer preference for sustainable and eco-friendly products, contributing to the market's expansion. Overall, the versatility, safety profile, and sustainable characteristics of citric acid drive its increased usage and market growth across multiple sectors.

𝐂𝐢𝐭𝐫𝐢𝐜 𝐀𝐜𝐢𝐝 𝐌𝐚𝐫𝐤𝐞𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

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. In the first quarter of 2024, the global market for Citric acid experienced a complex array of influences that shaped pricing dynamics significantly across different regions. In North America, particularly the United States, Citric acid prices were subject to considerable fluctuations and an overall upward trend in costs, ending the quarter at USD 885/MT CFR New York. Several factors contributed to this scenario, starting with production slowdowns and maintenance shutdowns within the US, which tightened domestic supply.

Concurrently, the US market's heavy reliance on imports, particularly from China, became a critical vulnerability when Chinese production faced disruptions due to the Lunar New Year celebrations, exacerbating supply constraints. These were further compounded by geopolitical tensions and global trade disruptions, which intensified after the holiday period, leading to increased freight charges and extended delivery times. Such disruptions were not isolated, as concerns over potential logistical issues along the Mississippi River due to adverse weather also played a role in pushing prices upwards.

Additionally, the raw material prices, which saw a slight decrease at the beginning of the quarter, did not sustain this trend, adding to the upward pressure on finished Citric acid prices as the quarter progressed.

In contrast, the European market experienced a different set of dynamics that led to a generally downward trend in Citric acid prices, with the quarter ending at USD 895/MT CFR Hamburg in Germany. This decline was influenced by several factors, including strategic pricing adjustments by major players like Germany, aimed at maintaining competitiveness in the global market. The European market also faced reduced demand projections and a decline in manufacturing activity across the Eurozone, which led to decreased raw material costs and excess production capacity. As a result, market players in Europe adjusted their pricing strategies and inventory levels in response to these challenges, actively managing stock to prevent surplus.

Despite these efforts, the market still faced difficulties due to declining local demand, export challenges, and seasonal adjustments, which further pressured prices downward. However, towards the end of the quarter, there was a slight uptick in prices due to the resumption of production in key exporting countries and easing of some trade disruptions, reflecting the interconnected nature of global supply chains and their impact on regional market dynamics.

𝐁𝐫𝐨𝐰𝐬𝐞 𝐅𝐮𝐥𝐥 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.imarcgroup.com/citric-acid-pricing-report

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

𝐍𝐨𝐭𝐞: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.

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This release was published on openPR.