Central Asia: Citric Acid Market 2024

Citric Acid Market Size in Central Asia

The Central Asian citric acid market totaled $X in 2021, increasing by 6.9% against the previous year. The total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -2.2% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Citric Acid Production in Central Asia

In value terms, citric acid production expanded notably to $X in 2021 estimated in export price. The total production indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -6.0% against 2019 indices. The pace of growth was the most pronounced in 2018 when the production volume increased by 49% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Citric Acid Exports

Exports in Central Asia

In 2021, the amount of citric acid and its salts and esters exported in Central Asia skyrocketed to X tons, jumping by 93% against 2020. Over the period under review, exports continue to indicate a buoyant increase. The pace of growth was the most pronounced in 2020 with an increase of 231%. The volume of export peaked in 2021 and is expected to retain growth in years to come.

In value terms, citric acid exports soared to $X in 2021. In general, exports showed a resilient expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 251% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are likely to continue growth in years to come.

Exports by Country

Kazakhstan was the key exporting country with an export of around X tons, which reached 76% of total exports. It was distantly followed by Uzbekistan (X tons), achieving a 24% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to citric acid exports from Kazakhstan stood at +15.3%. At the same time, Uzbekistan (+499.7%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing exporter exported in Central Asia, with a CAGR of +499.7% from 2012-2021. Uzbekistan (+24 p.p.) significantly strengthened its position in terms of the total exports, while Kazakhstan saw its share reduced by -7.7% from 2012 to 2021, respectively.

In value terms, Kazakhstan ($X) remains the largest citric acid supplier in Central Asia, comprising 74% of total exports. The second position in the ranking was held by Uzbekistan ($X), with a 26% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Kazakhstan amounted to +14.3%.

Export Prices by Country

In 2021, the export price in Central Asia amounted to $X per ton, rising by 26% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 an increase of 40%. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Uzbekistan ($X per ton), while Kazakhstan amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kazakhstan (-0.9%).

Citric Acid Imports

Imports in Central Asia

Citric acid imports expanded to X tons in 2021, with an increase of 2.6% against 2020 figures. In general, imports saw a prominent expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 89%. The volume of import peaked in 2021 and is expected to retain growth in years to come.

In value terms, citric acid imports skyrocketed to $X in 2021. Overall, imports continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2017 with an increase of 93%. Over the period under review, imports reached the maximum in 2021 and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Kazakhstan (X tons), distantly followed by Uzbekistan (X tons), Turkmenistan (X tons) and Tajikistan (X tons) were the largest importers of citric acid and its salts and esters, together committing 95% of total imports. Kyrgyzstan (X tons) and Mongolia (X tons) took a little share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Tajikistan (with a CAGR of +32.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest citric acid importing markets in Central Asia were Kazakhstan ($X), Uzbekistan ($X) and Turkmenistan ($X), with a combined 88% share of total imports. Tajikistan, Kyrgyzstan and Mongolia lagged somewhat behind, together accounting for a further 12%.

Tajikistan, with a CAGR of +26.7%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Central Asia amounted to $X per ton, growing by 36% against the previous year. Over the period under review, the import price, however, continues to indicate a slight downturn. Over the period under review, import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uzbekistan (+8.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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