Canada: Citric Acid Market 2024

Citric Acid Market Size in Canada

In 2021, the Canadian citric acid market was finally on the rise to reach $X after three years of decline. In general, consumption saw a relatively flat trend pattern. Citric acid consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Citric Acid Production in Canada

In value terms, citric acid production contracted to $X in 2021 estimated in export price. In general, production saw a perceptible contraction. The most prominent rate of growth was recorded in 2020 with an increase of 13%. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Citric Acid Exports

Exports from Canada

In 2021, overseas shipments of citric acid and its salts and esters decreased by -28.9% to X tons for the first time since 2018, thus ending a two-year rising trend. In general, exports, however, recorded a slight increase. The pace of growth was the most pronounced in 2019 when exports increased by 50%. Over the period under review, the exports hit record highs at X tons in 2020, and then reduced sharply in the following year.

In value terms, citric acid exports rose sharply to $X in 2021. The total export value increased at an average annual rate of +2.1% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2020 when exports increased by 13%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for citric acid exports from Canada, with a 87% share of total exports. Moreover, citric acid exports to the United States exceeded the volume sent to the second major destination, Mexico (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled +3.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-9.4% per year) and Argentina (-15.3% per year).

In value terms, the United States ($X) remains the key foreign market for citric acid and its salts and esters exports from Canada, comprising 87% of total exports. The second position in the ranking was taken by Mexico ($X), with a 6.4% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to +4.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-8.6% per year) and Argentina (-15.6% per year).

Export Prices by Country

The average citric acid export price stood at $X per ton in 2021, jumping by 58% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.1%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Argentina ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (+0.9%), while the prices for the other major destinations experienced mixed trend patterns.

Citric Acid Imports

Imports into Canada

For the sixth consecutive year, Canada recorded growth in supplies from abroad of citric acid and its salts and esters, which increased by 12% to X tons in 2021. In general, imports continue to indicate buoyant growth. The pace of growth was the most pronounced in 2018 when imports increased by 45%. Over the period under review, imports hit record highs in 2021 and are likely to continue growth in the immediate term.

In value terms, citric acid imports surged to $X in 2021. The total import value increased at an average annual rate of +2.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. 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) constituted the largest supplier of citric acid to Canada, with a 75% share of total imports. Moreover, citric acid imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), fourfold.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +12.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-2.0% per year) and Austria (+16.6% per year).

In value terms, China ($X), the United States ($X) and Austria ($X) constituted the largest citric acid suppliers to Canada, together comprising 91% of total imports.

China, with a CAGR of +12.9%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average citric acid import price amounted to $X per ton, with an increase of 22% against the previous year. In general, the import price, however, saw a deep setback. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat 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 the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cambodia (+42.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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