Report Update Nov 1, 2024

Hong Kong SAR, China - Citric Acid and Its Salts and Esters - Market Analysis, Forecast, Size, Trends and Insights

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Hong Kong SAR, China: Citric Acid Market 2024

Citric Acid Market Size in Hong Kong SAR, China

The Hong Kong citric acid market soared to $X in 2021, jumping by 15% against the previous year. Over the period under review, consumption, however, showed a relatively flat trend pattern. Citric acid consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Citric Acid Production in Hong Kong SAR, China

In value terms, citric acid production skyrocketed to $X in 2021 estimated in export price. Overall, the total production indicated a mild expansion from 2012 to 2021: its value increased at an average annual rate of +1.2% 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 -13.4% against 2019 indices. The pace of growth was the most pronounced in 2019 with an increase of 69%. Citric acid production peaked at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Citric Acid Exports

Exports from Hong Kong SAR, China

In 2021, exports of citric acid and its salts and esters from Hong Kong SAR soared to X tons, jumping by 35% against the previous year. In general, exports, however, showed a drastic downturn. The pace of growth appeared the most rapid in 2019 with an increase of 141%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, citric acid exports soared to $X in 2021. Overall, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when exports increased by 309%. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for citric acid exports from Hong Kong SAR, with a 97% share of total exports. It was followed by the Netherlands (X tons), with a 2.4% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to China was relatively modest.

In value terms, China ($X) remains the key foreign market for citric acid and its salts and esters exports from Hong Kong SAR, comprising 94% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 5.6% share of total exports.

From 2012 to 2021, the average annual growth rate of value to China totaled +3.1%.

Export Prices by Country

In 2021, the average citric acid export price amounted to $X per ton, with a decrease of -8% against the previous year. In general, the export price, however, showed a prominent expansion. The most prominent rate of growth was recorded in 2019 an increase of 70%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to China stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+2.3%).

Citric Acid Imports

Imports into Hong Kong SAR, China

In 2021, supplies from abroad of citric acid and its salts and esters increased by 26% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports, however, recorded a pronounced descent. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, citric acid imports skyrocketed to $X in 2021. In general, imports continue to indicate a modest expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Germany (X tons), China (X tons) and the Netherlands (X tons) were the main suppliers of citric acid imports to Hong Kong SAR, together accounting for 92% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +21.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), China ($X) and the Netherlands ($X) constituted the largest citric acid suppliers to Hong Kong SAR, with a combined 92% share of total imports.

The Netherlands, with a CAGR of +35.2%, 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 more modest paces of growth.

Import Prices by Country

In 2021, the average citric acid import price amounted to $X per ton, growing by 48% against the previous year. Over the last nine years, it increased at an average annual rate of +5.6%. As a result, import 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 importers, the country with the highest price was Canada ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+46.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for citric acid and its salts and esters in the world?

China constituted the country with the largest volume of citric acid consumption, comprising approx. 25% of total volume. Moreover, citric acid consumption in China exceeded the figures recorded by the second-largest consumer, the United States, twofold. The third position in this ranking was occupied by India, with a 9.6% share.

What are the largest producers of citric acid and its salts and esters in the world?

China constituted the country with the largest volume of citric acid production, comprising approx. 58% of total volume. Moreover, citric acid production in China exceeded the figures recorded by the second-largest producer, India, eightfold. The third position in this ranking was occupied by the United States, with a 5.9% share.

What are the leading suppliers of citric acid and its salts and esters to Hong Kong SAR, China?

In value terms, Germany, China and the Netherlands were the largest citric acid suppliers to Hong Kong SAR, together comprising 92% of total imports.

What are the leading importers of citric acid and its salts and esters from Hong Kong SAR, China?

In value terms, China remains the key foreign market for citric acid exports from Hong Kong SAR, comprising 94% of total exports. The second position in the ranking was occupied by the Netherlands, with a 5.6% share of total exports.

What is the average export price for citric acid and its salts and esters in Hong Kong SAR, China?

The average citric acid export price stood at $658 per ton in 2021, dropping by -6.6% against the previous year.

What is the average import price for citric acid and its salts and esters in Hong Kong SAR, China?

The average citric acid import price stood at $2,164 per ton in 2021, surging by 45% against the previous year.

This report provides an in-depth analysis of the citric acid market in Hong Kong SAR, China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 20143473 - Citric acid and its salts and esters

Country coverage:

Hong Kong SAR

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Hong Kong SAR, China
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023