Denmark: Citric Acid Market 2024

Citric Acid Market Size in Denmark

The Danish citric acid market skyrocketed to $X in 2021, with an increase of 35% against the previous year. In general, the total consumption indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +7.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +74.0% against 2016 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Citric Acid Production in Denmark

In value terms, citric acid production stood at $X in 2021 estimated in export price. Overall, production, however, showed significant growth. The growth pace was the most rapid in 2013 with an increase of 66% against the previous year. Over the period under review, production attained the peak level in 2021 and is expected to retain growth in the immediate term.

Citric Acid Exports

Exports from Denmark

In 2021, approx. X tons of citric acid and its salts and esters were exported from Denmark; rising by 56% against 2020. Over the period under review, exports posted a buoyant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, citric acid exports surged to $X in 2021. In general, exports recorded prominent growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The UK (X tons), Sweden (X tons) and Germany (X tons) were the main destinations of citric acid exports from Denmark, with a combined 72% share of total exports. Turkey, South Africa, Ukraine, Norway, Italy, the United States and Finland lagged somewhat behind, together comprising a further 21%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Africa (with a CAGR of +76.5%), while the other leaders experienced more modest paces of growth.

In value terms, the UK ($X) remains the key foreign market for citric acid and its salts and esters exports from Denmark, comprising 42% of total exports. The second position in the ranking was taken by Sweden ($X), with a 17% share of total exports. It was followed by Germany, with a 6.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the UK amounted to +18.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+5.8% per year) and Germany (+4.3% per year).

Export Prices by Country

In 2021, the average citric acid export price amounted to $X per ton, with an increase of 20% against the previous year. Over the period under review, the export price, however, recorded a pronounced setback. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Ukraine ($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 Ukraine (+59.3%), while the prices for the other major destinations experienced more modest paces of growth.

Citric Acid Imports

Imports into Denmark

For the tenth year in a row, Denmark recorded growth in overseas purchases of citric acid and its salts and esters, which increased by 22% to X tons in 2021. In general, total imports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +7.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +98.2% against 2012 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, citric acid imports skyrocketed to $X in 2021. Over the period under review, total imports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +7.4% 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 +91.3% against 2016 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Austria (X tons), Belgium (X tons) and China (X tons) were the main suppliers of citric acid imports to Denmark, together accounting for 75% of total imports. The Netherlands, Germany, Poland and Spain lagged somewhat behind, together accounting for a further 23%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +101.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Austria ($X) constituted the largest supplier of citric acid and its salts and esters to Denmark, comprising 36% of total imports. The second position in the ranking was taken by Belgium ($X), with a 17% share of total imports. It was followed by Germany, with a 14% share.

From 2012 to 2021, the average annual growth rate of value from Austria amounted to +5.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+13.1% per year) and Germany (+8.3% per year).

Import Prices by Country

In 2021, the average citric acid import price amounted to $X per ton, surging by 21% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a 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 Spain ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+8.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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