France: Glutamic Acid Market 2024

Glutamic Acid Market Size in France

In 2022, the French glutamic acid market was finally on the rise to reach $X for the first time since 2018, thus ending a three-year declining trend. Over the period under review, consumption, however, saw a noticeable descent. Glutamic acid consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Glutamic Acid Production in France

In value terms, glutamic acid production contracted dramatically to $X in 2022 estimated in export price. Over the period under review, production saw a abrupt contraction. Glutamic acid production peaked at $X in 2021, and then reduced rapidly in the following year.

Glutamic Acid Exports

Exports from France

Glutamic acid exports from France dropped rapidly to X tons in 2022, which is down by -22.2% compared with the year before. Over the period under review, exports faced a sharp setback. The exports peaked at X tons in 2021, and then shrank notably in the following year.

In value terms, glutamic acid exports stood at $X in 2022. The total export value increased at an average annual rate of +7.3% over the period from 2021 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Germany (X tons), Spain (X tons) and the UK (X tons) were the main destinations of glutamic acid exports from France, with a combined 46% share of total exports. The Netherlands, Croatia, Poland, Italy, Austria, Hungary, Slovakia, Portugal, Romania and Nigeria lagged somewhat behind, together accounting for a further 42%.

From 2021 to 2022, the biggest increases were recorded for Slovakia (with a CAGR of +3,348.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for glutamic acid exported from France were Germany ($X), Spain ($X) and the UK ($X), together comprising 45% of total exports. The Netherlands, Croatia, Poland, Italy, Austria, Hungary, Slovakia, Romania, Portugal and Nigeria lagged somewhat behind, together comprising a further 42%.

Among the main countries of destination, Slovakia, with a CAGR of +4,265.3%, recorded the highest growth rate of the value of exports, 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, picking up by 38% against the previous year. In general, export price indicated significant growth from 2021 to 2022: its price increased at an average annual rate of +38.0% over the last one-year period. 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.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Romania ($X per ton) and Germany ($X per ton), while the average price for exports to Nigeria ($X per ton) and Croatia ($X per ton) were amongst the lowest.

From 2021 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+57.7%), while the prices for the other major destinations experienced more modest paces of growth.

Glutamic Acid Imports

Imports into France

In 2022, after three years of decline, there was significant growth in overseas purchases of glutamic acid and its salts, when their volume increased by 13% to X tons. Over the period under review, imports, however, showed a noticeable curtailment. The growth pace was the most rapid in 2014 with an increase of 177% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, glutamic acid imports skyrocketed to $X in 2022. Overall, imports, however, showed a noticeable curtailment. The pace of growth appeared the most rapid in 2016 with an increase of 144% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Brazil (X tons), Germany (X tons) and the Netherlands (X tons) were the main suppliers of glutamic acid imports to France, together comprising 71% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Brazil (with a CAGR of +29.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest glutamic acid suppliers to France were Brazil ($X), Germany ($X) and the Netherlands ($X), with a combined 58% share of total imports.

Brazil, with a CAGR of +24.8%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average glutamic acid import price amounted to $X per ton, surging by 6.7% against the previous year. Over the last decade, it increased at an average annual rate of +1.1%. The pace of growth was the most pronounced in 2016 when the average import price increased by 27% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+4.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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