Report Update Nov 1, 2024

Bangladesh - Citric Acid and Its Salts and Esters - Market Analysis, Forecast, Size, Trends and Insights

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Bangladesh: Citric Acid Market 2024

Citric Acid Market Size in Bangladesh

The Bangladeshi citric acid market was finally on the rise to reach $X in 2021, after two years of decline. Overall, consumption recorded prominent growth. Citric acid consumption peaked in 2021 and is expected to retain growth in years to come.

Citric Acid Exports

Exports from Bangladesh

In 2021, shipments abroad of citric acid and its salts and esters decreased by -57.6% to X tons, falling for the second consecutive year after two years of growth. In general, exports showed a drastic downturn. The growth pace was the most rapid in 2016 when exports increased by 507% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2021, the growth of the exports remained at a lower figure.

In value terms, citric acid exports declined notably to $X in 2021. Overall, exports showed a drastic downturn. The pace of growth appeared the most rapid in 2016 when exports increased by 648%. As a result, the exports reached the peak of $X. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Germany (X tons) was the main destination for citric acid exports from Bangladesh, with a approx. 99% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Germany stood at -12.1%.

In value terms, Germany ($X) also remains the key foreign market for citric acid and its salts and esters exports from Bangladesh.

From 2012 to 2021, the average annual growth rate of value to Germany stood at -8.7%.

Export Prices by Country

In 2021, the average citric acid export price amounted to $X per ton, surging by 24% against the previous year. In general, export price indicated a temperate expansion from 2012 to 2021: its price increased at an average annual rate of +4.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, citric acid export price increased by +72.7% against 2019 indices. The most prominent rate of growth was recorded in 2020 an increase of 39% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is likely to see gradual growth in the near future.

As there is only one major export destination, the average price level is determined by prices for Germany.

From 2012 to 2021, the rate of growth in terms of prices for Slovenia amounted to +4.5% per year.

Citric Acid Imports

Imports into Bangladesh

In 2021, overseas purchases of citric acid and its salts and esters increased by 36% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, imports saw a strong expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 148% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, citric acid imports surged to $X in 2021. Overall, imports recorded a resilient increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) was the main supplier of citric acid to Bangladesh, accounting for a approx. 94% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +12.2%.

In value terms, China ($X) constituted the largest supplier of citric acid and its salts and esters to Bangladesh.

From 2012 to 2021, the average annual growth rate of value from China totaled +13.4%.

Import Prices by Country

The average citric acid import price stood at $X per ton in 2021, picking up by 56% against the previous year. Overall, import price indicated a modest increase from 2012 to 2021: its price increased at an average annual rate of +1.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 when the average import price increased by 81% against the previous year. As a result, import price reached the peak level of $X per ton. From 2017 to 2021, the average import prices remained at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2021, the rate of growth in terms of prices for China amounted to +1.0% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for citric acid and its salts and esters in the world?

China constituted the country with the largest volume of citric acid consumption, accounting for 25% of total volume. Moreover, citric acid consumption in China exceeded the figures recorded by the second-largest consumer, the United States, twofold. India ranked third in terms of total consumption with a 9.6% share.

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

China constituted the country with the largest volume of citric acid production, accounting for 58% of total volume. Moreover, citric acid production in China exceeded the figures recorded by the second-largest producer, India, eightfold. The United States ranked third in terms of total production with a 5.9% share.

What are the leading suppliers of citric acid and its salts and esters to Bangladesh?

In value terms, China constituted the largest supplier of citric acid to Bangladesh, comprising 75% of total imports. The second position in the ranking was occupied by Germany, with an 8.8% share of total imports.

What are the leading importers of citric acid and its salts and esters from Bangladesh?

In value terms, Germany remains the key foreign market for citric acid exports from Bangladesh.

What is the average export price for citric acid and its salts and esters in Bangladesh?

The average citric acid export price stood at $1,066 per ton in 2021, surging by 1.8% against the previous year.

What is the average import price for citric acid and its salts and esters in Bangladesh?

In 2021, the average citric acid import price amounted to $728 per ton, approximately equating the previous year.

This report provides an in-depth analysis of the citric acid market in Bangladesh. 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 20143473 - Citric acid and its salts and esters

Country coverage:

Bangladesh

Data coverage:

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