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China - Glutamic Acid And Its Salts - Market Analysis, Forecast, Size, Trends And Insights
Report Update: Nov 1, 2024

China - Glutamic Acid And Its Salts - Market Analysis, Forecast, Size, Trends And Insights

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Apr 1, 2023

China's Glutamic Acid Price Reduces 2%, Averaging $1,233 per Ton After Nine Consecutive Months of Decline

China Glutamic Acid Export Price in February 2023

In February 2023, the glutamic acid price amounted to $1,233 per ton (FOB, China), which is down by -2% against the previous month. In general, the export price recorded a slight setback. The pace of growth was the most pronounced in April 2022 when the average export price increased by 0.2% month-to-month. The export price peaked at $1,383 per ton in February 2022; however, from March 2022 to February 2023, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major foreign markets. In February 2023, the highest price was recorded for prices to Taiwan (Chinese) ($1,326 per ton) and Japan ($1,313 per ton), while the average price for exports to the Philippines ($1,173 per ton) and Thailand ($1,202 per ton) were amongst the lowest.

From February 2022 to February 2023, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (-0.2%), while the prices for the other major destinations experienced a decline.

China Glutamic Acid Exports

In February 2023, glutamic acid exports from China dropped modestly to 68K tons, remaining stable against January 2023. In general, exports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in December 2022 when exports increased by 32% month-to-month. The exports peaked at 85K tons in June 2022; however, from July 2022 to February 2023, the exports failed to regain momentum.

In value terms, glutamic acid exports declined slightly to $84M (IndexBox estimates) in February 2023. Overall, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in December 2022 when exports increased by 32% m-o-m. The exports peaked at 114K tons in June 2022; however, from July 2022 to February 2023, the exports failed to regain momentum.

China Glutamic Acid Exports by Country

Thailand (11K tons), Indonesia (10K tons) and Vietnam (9.6K tons) were the main destinations of glutamic acid exports from China, with a combined 45% share of total exports. These countries were followed by Myanmar, India, Malaysia, the Philippines, South Korea, Nigeria, Japan, Mexico, the United Arab Emirates and Taiwan (Chinese), which together accounted for a further 39%.

From February 2022 to February 2023, the biggest increases were in India (with a CAGR of +13.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($14M), Indonesia ($12M) and Vietnam ($12M) were the largest markets for glutamic acid exported from China worldwide, together comprising 45% of total exports. These countries were followed by Myanmar, India, Malaysia, South Korea, the Philippines, Nigeria, Japan, Mexico, the United Arab Emirates and Taiwan (Chinese), which together accounted for a further 40%.

India, with a CAGR of +11.5%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

What has caused this decline?

According to industry experts, there are several factors at play. One major factor is oversupply. Many glutamic acid producers in China have been ramping up production, leading to an excess supply of the product. In addition, weaker demand from the food and feed industries has also contributed to the price drop.

Finally, the ongoing trade tensions between the US and China have added to the uncertainty and volatility in the market. Despite this downtrend, experts don't see the glutamic acid market changing drastically in the near future. Prices are expected to remain relatively stable, barring any unforeseen circumstances. For now, producers will need to adapt to the current market conditions and find new strategies to stay competitive.

Source: IndexBox Market Intelligence Platform

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

Country coverage:

Data coverage:

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

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. 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. 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. 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. 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. 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. 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. 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. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. 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

  12. 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

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