Brazil: Citric Acid Market 2024

Citric Acid Market Size in Brazil

In 2021, the Brazilian citric acid market decreased by -2.2% to $X, falling for the second year in a row after two years of growth. In general, consumption, however, saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market remained at a somewhat lower figure.

Citric Acid Production in Brazil

In value terms, citric acid production dropped slightly to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the production volume increased by 27%. As a result, production reached the peak level of $X. From 2016 to 2021, production growth failed to regain momentum.

Citric Acid Exports

Exports from Brazil

In 2021, shipments abroad of citric acid and its salts and esters increased by 42% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports, however, recorded a deep contraction. The pace of growth was the most pronounced in 2018 with an increase of 114%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, citric acid exports soared to $X in 2021. In general, exports, however, saw a abrupt curtailment. The most prominent rate of growth was recorded in 2018 with an increase of 94%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Argentina (X tons), the United States (X tons) and Uruguay (X tons) were the main destinations of citric acid exports from Brazil, together accounting for 68% of total exports. These countries were followed by Indonesia, Costa Rica, Chile, Ireland, Mexico, South Africa and Venezuela, which together accounted for a further 27%.

From 2012 to 2021, the biggest increases were recorded for Chile (with a CAGR of +27.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Argentina ($X), the United States ($X) and Uruguay ($X) constituted the largest markets for citric acid exported from Brazil worldwide, with a combined 67% share of total exports. Indonesia, Costa Rica, Chile, Ireland, Mexico, South Africa and Venezuela lagged somewhat behind, together comprising a further 27%.

Chile, with a CAGR of +23.1%, recorded the highest growth rate of 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.

Export Prices by Country

The average citric acid export price stood at $X per ton in 2021, surging by 3.1% against the previous year. Over the period under review, the export price, however, recorded a perceptible decline. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major export markets. In 2021, amid the top suppliers, the countries with the highest prices were South Africa ($X per ton) and Chile ($X per ton), while the average price for exports to the United States ($X per ton) and Indonesia ($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 South Africa (-0.1%), while the prices for the other major destinations experienced a decline.

Citric Acid Imports

Imports into Brazil

Citric acid imports into Brazil rose rapidly to X tons in 2021, increasing by 15% compared with 2020 figures. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when imports increased by 54% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports failed to regain momentum.

In value terms, citric acid imports soared to $X in 2021. Over the period under review, total imports indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +2.9% 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 decreased by -0.2% against 2019 indices. The pace of growth was the most pronounced in 2013 when imports increased by 62%. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports failed to regain momentum.

Imports by Country

China (X tons), Colombia (X tons) and Thailand (X tons) were the main suppliers of citric acid imports to Brazil, together comprising 87% of total imports. Germany, Belgium, Turkey and Canada lagged somewhat behind, together comprising a further 10%.

From 2012 to 2021, the biggest increases were recorded for Belgium (with a CAGR of +63.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of citric acid and its salts and esters to Brazil, comprising 47% of total imports. The second position in the ranking was taken by Colombia ($X), with an 18% share of total imports. It was followed by Germany, with a 10% share.

From 2012 to 2021, the average annual growth rate of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (-0.1% per year) and Germany (-0.6% per year).

Import Prices by Country

The average citric acid import price stood at $X per ton in 2021, growing by 28% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.7%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Germany ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+4.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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