Israel: Glutamic Acid Market 2024

Glutamic Acid Market Size in Israel

For the fourth year in a row, the Israeli glutamic acid market recorded growth in sales value, which increased by 12% to $X in 2022. Over the period under review, the total consumption indicated mild growth from 2012 to 2022: its value increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +84.9% against 2018 indices. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the immediate term.

Glutamic Acid Exports

Exports from Israel

In 2022, shipments abroad of glutamic acid and its salts increased by 749% to X tons, rising for the second year in a row after five years of decline. In general, exports enjoyed a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, glutamic acid exports soared to $X in 2022. Over the period under review, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by 436% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Poland (X tons), Hungary (X tons) and the United States (X tons) were the main destinations of glutamic acid exports from Israel.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +1.2%), while the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Hungary ($X) and the United States ($X) were the largest markets for glutamic acid exported from Israel worldwide.

Among the main countries of destination, Poland, with a CAGR of 0.0%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average glutamic acid export price amounted to $X per ton, falling by -49% against the previous year. Over the period under review, the export price continues to indicate a deep downturn. The most prominent rate of growth was recorded in 2021 an increase of 136%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Poland ($X per ton), while the average price for exports to Hungary ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Czech Republic (-2.0%).

Glutamic Acid Imports

Imports into Israel

In 2022, after three years of growth, there was significant decline in overseas purchases of glutamic acid and its salts, when their volume decreased by -9.3% to X tons. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when imports increased by 39% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, glutamic acid imports soared to $X in 2022. In general, total imports indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +95.7% against 2018 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 32%. Imports peaked in 2022 and are likely to see gradual growth in years to come.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of glutamic acid to Israel, accounting for a 57% share of total imports. Moreover, glutamic acid imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), twofold. The third position in this ranking was taken by Brazil (X tons), with a 9.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +3.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+45.8% per year) and Brazil (-4.8% per year).

In value terms, China ($X) constituted the largest supplier of glutamic acid and its salts to Israel, comprising 57% of total imports. The second position in the ranking was held by Vietnam ($X), with a 23% share of total imports. It was followed by Brazil, with a 9.3% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +5.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+58.1% per year) and Brazil (-3.5% per year).

Import Prices by Country

In 2022, the average glutamic acid import price amounted to $X per ton, jumping by 30% against the previous year. Over the last decade, it increased at an average annual rate of +1.4%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Vietnam ($X per ton) and China ($X per ton), while the price for Thailand ($X per ton) and Germany ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+8.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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