Belgium: Citric Acid Market 2024

Citric Acid Market Size in Belgium

The Belgian citric acid market reduced rapidly to $X in 2021, shrinking by -39.3% against the previous year. Overall, consumption recorded a abrupt downturn. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Citric Acid Production in Belgium

In value terms, citric acid production stood at $X in 2021 estimated in export price. Over the period under review, production enjoyed significant growth. The most prominent rate of growth was recorded in 2018 with an increase of 7,323%. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Citric Acid Exports

Exports from Belgium

In 2021, shipments abroad of citric acid and its salts and esters increased by 2.1% to X tons, rising for the fifth year in a row after two years of decline. In general, exports enjoyed a significant expansion. The growth pace was the most rapid in 2018 when exports increased by 589% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are likely to see steady growth in years to come.

In value terms, citric acid exports skyrocketed to $X in 2021. Overall, exports saw a significant increase. The pace of growth was the most pronounced in 2018 when exports increased by 509% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

Exports by Country

Germany (X tons), the Netherlands (X tons) and Italy (X tons) were the main destinations of citric acid exports from Belgium, with a combined 55% share of total exports. France, the UK, Spain, Luxembourg, Ireland, the United States, Denmark and Poland lagged somewhat behind, together comprising a further 34%.

From 2012 to 2021, the biggest increases were recorded for Luxembourg (with a CAGR of +119.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for citric acid exported from Belgium were Germany ($X), the Netherlands ($X) and Italy ($X), with a combined 53% share of total exports. France, the UK, Spain, the United States, Ireland, Luxembourg, Denmark and Poland lagged somewhat behind, together comprising a further 35%.

In terms of the main countries of destination, Luxembourg, with a CAGR of +109.8%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average citric acid export price stood at $X per ton in 2021, increasing by 18% against the previous year. In general, the export price, however, continues to indicate a pronounced reduction. The growth pace was the most rapid in 2014 an increase of 19%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the average export prices remained at a lower figure.

Average prices varied somewhat for the major foreign markets. In 2021, amid the top suppliers, the countries with the highest prices were Poland ($X per ton) and Spain ($X per ton), while the average price for exports to Luxembourg ($X per ton) and Germany ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the UK (-0.4%), while the prices for the other major destinations experienced a decline.

Citric Acid Imports

Imports into Belgium

After three years of growth, overseas purchases of citric acid and its salts and esters decreased by -4.8% to X tons in 2021. In general, total imports indicated a tangible increase from 2012 to 2021: its volume increased at an average annual rate of +4.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +115.1% against 2015 indices. The most prominent rate of growth was recorded in 2016 with an increase of 33%. Imports peaked at X tons in 2020, and then contracted modestly in the following year.

In value terms, citric acid imports skyrocketed to $X in 2021. Over the period under review, imports, however, posted a moderate expansion. The growth pace was the most rapid in 2018 when imports increased by 36% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see gradual growth in years to come.

Imports by Country

In 2021, China (X tons) constituted the largest citric acid supplier to Belgium, with a 53% share of total imports. Moreover, citric acid imports from China exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), fourfold. The third position in this ranking was taken by Austria (X tons), with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +5.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+0.9% per year) and Austria (+29.2% per year).

In value terms, China ($X) constituted the largest supplier of citric acid and its salts and esters to Belgium, comprising 44% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 14% share of total imports. It was followed by Austria, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +4.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+1.1% per year) and Austria (+28.5% per year).

Import Prices by Country

In 2021, the average citric acid import price amounted to $X per ton, surging by 32% against the previous year. Overall, the import price, however, recorded a mild reduction. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Israel ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Israel (+42.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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