Brazil: Glutamic Acid Market 2024

Glutamic Acid Market Size in Brazil

After two years of growth, the Brazilian glutamic acid market decreased by -5.1% to $X in 2022. Overall, consumption showed a perceptible reduction. Glutamic acid consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Glutamic Acid Production in Brazil

In value terms, glutamic acid production reduced slightly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a pronounced downturn. The pace of growth appeared the most rapid in 2021 when the production volume increased by 4.6% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Glutamic Acid Exports

Exports from Brazil

In 2022, overseas shipments of glutamic acid and its salts increased by 1.6% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of 15% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, glutamic acid exports skyrocketed to $X in 2022. In general, exports continue to indicate a relatively flat trend pattern. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Japan (X tons), Nigeria (X tons) and the Philippines (X tons) were the main destinations of glutamic acid exports from Brazil, together accounting for 64% of total exports. Malaysia, Mexico, South Africa, Guatemala, the Dominican Republic, Colombia, Honduras, Haiti, Argentina and Vietnam lagged somewhat behind, together comprising a further 28%.

From 2012 to 2022, the biggest increases were recorded for Haiti (with a CAGR of +72.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Nigeria ($X) and the Philippines ($X) were the largest markets for glutamic acid exported from Brazil worldwide, together accounting for 65% of total exports. Malaysia, Mexico, South Africa, Guatemala, Colombia, the Dominican Republic, Honduras, Haiti, Argentina and Vietnam lagged somewhat behind, together comprising a further 28%.

Haiti, with a CAGR of +85.8%, 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.

Export Prices by Country

In 2022, the average glutamic acid export price amounted to $X per ton, growing by 51% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Haiti (+7.9%), while the prices for the other major destinations experienced more modest paces of growth.

Glutamic Acid Imports

Imports into Brazil

In 2022, purchases abroad of glutamic acid and its salts decreased by -11.6% to X tons, falling for the second consecutive year after five years of growth. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 28% against the previous year. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, glutamic acid imports rose sharply to $X in 2022. Over the period under review, total imports indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +77.9% against 2015 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 15% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of glutamic acid to Brazil, with a 88% share of total imports. Moreover, glutamic acid imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +10.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (-17.9% per year) and France (-8.0% per year).

In value terms, China ($X) constituted the largest supplier of glutamic acid and its salts to Brazil, comprising 78% of total imports. The second position in the ranking was taken by Indonesia ($X), with a 9.8% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China amounted to +11.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (-13.1% per year) and France (-5.4% per year).

Import Prices by Country

In 2022, the average glutamic acid import price amounted to $X per ton, picking up by 28% against the previous year. Over the last decade, it increased at an average annual rate of +2.8%. 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 2022, amid the top importers, the country with the highest price was France ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+5.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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