Eastern Europe: Citric Acid Market 2024

Citric Acid Market Size in Eastern Europe

In 2021, after five years of decline, there was significant growth in the East European citric acid market, when its value increased by 48% to $X. Overall, consumption recorded a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Citric Acid Production in Eastern Europe

In value terms, citric acid production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production, however, saw a abrupt decrease. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Citric Acid Exports

Exports in Eastern Europe

In 2021, the amount of citric acid and its salts and esters exported in Eastern Europe skyrocketed to X tons, picking up by 22% compared with 2020. Overall, exports continue to indicate resilient growth. The most prominent rate of growth was recorded in 2015 with an increase of 95% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, citric acid exports skyrocketed to $X in 2021. Over the period under review, exports continue to indicate a prominent increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Poland dominates exports structure, accounting for X tons, which was approx. 77% of total exports in 2021. It was distantly followed by Russia (X tons), achieving a 9% share of total exports. The Czech Republic (X tons), Lithuania (X tons), Hungary (X tons) and Bulgaria (X tons) followed a long way behind the leaders.

Exports from Poland increased at an average annual rate of +33.6% from 2012 to 2021. At the same time, Russia (+36.3%), Bulgaria (+6.0%), the Czech Republic (+3.2%) and Lithuania (+1.8%) displayed positive paces of growth. Moreover, Russia emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of +36.3% from 2012-2021. By contrast, Hungary (-3.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Poland and Russia increased by +59 and +7.3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Poland ($X) remains the largest citric acid supplier in Eastern Europe, comprising 75% of total exports. The second position in the ranking was held by Russia ($X), with a 6.9% share of total exports. It was followed by the Czech Republic, with a 5.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Poland amounted to +34.8%. In the other countries, the average annual rates were as follows: Russia (+27.1% per year) and the Czech Republic (+11.3% per year).

Export Prices by Country

In 2021, the export price in Eastern Europe amounted to $X per ton, picking up by 59% against the previous year. Export price indicated a perceptible expansion from 2012 to 2021: its price increased at an average annual rate of +2.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the Czech Republic ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bulgaria (+9.7%), while the other leaders experienced more modest paces of growth.

Citric Acid Imports

Imports in Eastern Europe

Citric acid imports expanded markedly to X tons in 2021, picking up by 12% against the previous year's figure. Overall, imports posted a buoyant expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 20%. The volume of import peaked in 2021 and is likely to see gradual growth in years to come.

In value terms, citric acid imports skyrocketed to $X in 2021. Total imports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +8.5% 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 +66.1% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Poland (X tons) represented the main importer of citric acid and its salts and esters, committing 46% of total imports. Russia (X tons) took a 31% share (based on physical terms) of total imports, which put it in second place, followed by Hungary (6.2%) and Ukraine (5.1%). The Czech Republic (X tons), Romania (X tons) and Bulgaria (X tons) held a relatively small share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Poland (with a CAGR of +14.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Russia ($X) and Hungary ($X) constituted the countries with the highest levels of imports in 2021, with a combined 80% share of total imports.

Poland, with a CAGR of +13.0%, saw the highest growth rate of the value of imports, among 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

The import price in Eastern Europe stood at $X per ton in 2021, growing by 40% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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 the Czech Republic ($X per ton), while Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bulgaria (+3.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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