Ireland: Citric Acid Market 2024

Citric Acid Market Size in Ireland

For the fifth consecutive year, the Irish citric acid market recorded growth in sales value, which increased by 5.1% to $X in 2021. Over the period under review, the total consumption indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +11.0% 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 increased by +156.5% against 2012 indices. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in years to come.

Citric Acid Exports

Exports from Ireland

In 2021, overseas shipments of citric acid and its salts and esters were finally on the rise to reach X tons for the first time since 2016, thus ending a four-year declining trend. Over the period under review, exports, however, showed a abrupt descent. 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, however, continue to indicate a abrupt descent. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

The UK (X tons) was the main destination for citric acid exports from Ireland, with a 46% share of total exports. Moreover, citric acid exports to the UK exceeded the volume sent to the second major destination, Egypt (X tons), fivefold. Israel (X tons) ranked third in terms of total exports with a 5.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the UK amounted to -3.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Egypt (-3.2% per year) and Israel (+13.6% per year).

In value terms, the UK ($X) remains the key foreign market for citric acid and its salts and esters exports from Ireland, comprising 32% of total exports. The second position in the ranking was held by Spain ($X), with a 9.2% share of total exports. It was followed by Serbia, with a 5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the UK stood at -1.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (-9.5% per year) and Serbia (+12.7% per year).

Export Prices by Country

The average citric acid export price stood at $X per ton in 2021, growing by 8.1% against the previous year. Over the period under review, the export price, however, continues to indicate a noticeable slump. The pace of growth appeared the most rapid in 2017 when the average export price increased by 13% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

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 Spain ($X per ton), while the average price for exports to Russia ($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 Spain (+7.3%), while the prices for the other major destinations experienced more modest paces of growth.

Citric Acid Imports

Imports into Ireland

Citric acid imports into Ireland rose slightly to X tons in 2021, with an increase of 2.9% against 2020 figures. The total import volume increased at an average annual rate of +3.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2015 with an increase of 14% against the previous year. Over the period under review, imports attained the maximum at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, citric acid imports soared to $X in 2021. The total import value increased at an average annual rate of +3.0% from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of 26%. Over the period under review, imports attained the maximum in 2021 and are likely to continue growth in the near future.

Imports by Country

In 2021, Austria (X tons) constituted the largest supplier of citric acid to Ireland, accounting for a 57% share of total imports. Moreover, citric acid imports from Austria exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. Belgium (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from Austria stood at +17.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+1.6% per year) and Belgium (-1.1% per year).

In value terms, Austria ($X) constituted the largest supplier of citric acid and its salts and esters to Ireland, comprising 53% of total imports. The second position in the ranking was taken by China ($X), with a 13% share of total imports. It was followed by Belgium, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from Austria amounted to +15.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-2.7% per year) and Belgium (-2.3% per year).

Import Prices by Country

The average citric acid import price stood at $X per ton in 2021, increasing by 13% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat 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 the UK ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+9.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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