Benelux: Citric Acid Market 2024

Citric Acid Market Size in Benelux

The Benelux citric acid market reduced to $X in 2021, waning by -8.9% against the previous year. Overall, consumption recorded a relatively flat trend pattern. 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 Benelux

In value terms, citric acid production reached $X in 2021 estimated in export price. Over the period under review, production saw significant growth. The most prominent rate of growth was recorded in 2018 with an increase of 446% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Citric Acid Exports

Exports in Benelux

For the sixth year in a row, Benelux recorded growth in shipments abroad of citric acid and its salts and esters, which increased by 5.7% to X tons in 2021. In general, exports posted a strong expansion. The pace of growth appeared the most rapid in 2018 when exports increased by 124%. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in years to come.

In value terms, citric acid exports skyrocketed to $X in 2021. Over the period under review, exports recorded a buoyant expansion. The pace of growth appeared the most rapid in 2018 with an increase of 121%. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Belgium was the key exporting country with an export of about X tons, which recorded 72% of total exports. It was distantly followed by the Netherlands (X tons), creating a 28% share of total exports.

Belgium was also the fastest-growing in terms of the citric acid and its salts and esters exports, with a CAGR of +24.0% from 2012 to 2021. At the same time, the Netherlands (+11.8%) displayed positive paces of growth. From 2012 to 2021, the share of Belgium increased by +22 percentage points.

In value terms, the largest citric acid supplying countries in Benelux were Belgium ($X) and the Netherlands ($X).

Among the main exporting countries, Belgium, with a CAGR of +20.5%, saw the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

The export price in Benelux stood at $X per ton in 2021, picking up by 19% against the previous year. Overall, the export price, however, continues to indicate a mild decrease. Over the period under review, the export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while Belgium totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+1.9%).

Citric Acid Imports

Imports in Benelux

In 2021, after three years of growth, there was decline in purchases abroad of citric acid and its salts and esters, when their volume decreased by -4% to X tons. Overall, imports, however, recorded resilient growth. The most prominent rate of growth was recorded in 2016 when imports increased by 38%. Over the period under review, imports attained the peak figure at X tons in 2020, and then reduced modestly in the following year.

In value terms, citric acid imports surged to $X in 2021. Total imports indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +4.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +137.1% against 2015 indices. The pace of growth was the most pronounced in 2016 when imports increased by 29% against the previous year. The level of import peaked in 2021 and is likely to continue growth in the near future.

Imports by Country

The Netherlands was the main importer of citric acid and its salts and esters in Benelux, with the volume of imports recording X tons, which was approx. 60% of total imports in 2021. Belgium (X tons) took a 32% share (based on physical terms) of total imports, which put it in second place, followed by Luxembourg (7.2%).

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Luxembourg (with a CAGR of +15.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest citric acid importing markets in Benelux were the Netherlands ($X), Belgium ($X) and Luxembourg ($X).

Among the main importing countries, Luxembourg, with a CAGR of +11.9%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Benelux stood at $X per ton in 2021, growing by 28% against the previous year. Over the period under review, the import price, however, continues to indicate a mild decrease. Over the period under review, import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Belgium ($X per ton), while Luxembourg ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (-1.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform