New Zealand: Market for Lauric Acid And Other Acids, Their Salts And Esters 2024

Market Size for Lauric Acid And Other Acids, Their Salts And Esters in New Zealand

The New Zealand market for lauric acid and other acids, their salts and esters rose to $X in 2021, increasing by 4.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, posted prominent growth. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Exports of Lauric Acid And Other Acids, Their Salts And Esters

Exports from New Zealand

Exports of lauric acid and other acids, their salts and esters from New Zealand soared to X tons in 2021, increasing by 236% compared with the year before. Overall, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2018 with an increase of 2,915%. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports of remained at a lower figure.

In value terms, exports of lauric acid and other acids, their salts and esters soared to $X in 2021. Over the period under review, exports recorded a prominent expansion. The pace of growth appeared the most rapid in 2018 with an increase of 3,066%. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports of failed to regain momentum.

Exports by Country

Fiji (X tons) was the main destination for exports of lauric acid and other acids, their salts and esters from New Zealand, with a 65% share of total exports. Moreover, exports of lauric acid and other acids, their salts and esters to Fiji exceeded the volume sent to the second major destination, French Polynesia (X tons), fourfold. The third position in this ranking was taken by Australia (X tons), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Fiji amounted to +25.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: French Polynesia (+28.5% per year) and Australia (+19.2% per year).

In value terms, Fiji ($X) remains the key foreign market for lauric acid and other acids, their salts and esters exports from New Zealand, comprising 65% of total exports. The second position in the ranking was taken by French Polynesia ($X), with a 16% share of total exports. It was followed by Australia, with an 11% share.

From 2012 to 2021, the average annual growth rate of value to Fiji totaled +26.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: French Polynesia (+23.7% per year) and Australia (-1.6% per year).

Export Prices by Country

In 2021, the average export price for lauric acid and other acids, their salts and esters amounted to $X per ton, picking up by 46% against the previous year. In general, the export price, however, continues to indicate a abrupt decline. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably for the major overseas markets. In 2021, the highest price was recorded for prices to Australia ($X per ton) and Samoa ($X per ton), while the average price for exports to Fiji ($X per ton) and French Polynesia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Fiji (+0.9%), while the prices for the other major destinations experienced a decline.

Imports of Lauric Acid And Other Acids, Their Salts And Esters

Imports into New Zealand

Imports of lauric acid and other acids, their salts and esters into New Zealand dropped to X tons in 2021, which is down by -8% against the year before. Overall, imports, however, saw a pronounced increase. The growth pace was the most rapid in 2015 when imports increased by 72% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, imports of lauric acid and other acids, their salts and esters surged to $X in 2021. Over the period under review, imports, however, continue to indicate a resilient increase. The pace of growth was the most pronounced in 2017 with an increase of 68% against the previous year. Over the period under review, imports of hit record highs in 2021 and are expected to retain growth in years to come.

Imports by Country

Malaysia (X tons), the United States (X tons) and France (X tons) were the main suppliers of imports of lauric acid and other acids, their salts and esters to New Zealand, together comprising 89% of total imports.

From 2012 to 2021, the biggest increases were recorded for France (with a CAGR of +79.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X) constituted the largest supplier of lauric acid and other acids, their salts and esters to New Zealand, comprising 61% of total imports. The second position in the ranking was taken by the United States ($X), with an 18% share of total imports. It was followed by France, with a 4.4% share.

From 2012 to 2021, the average annual growth rate of value from Malaysia stood at +26.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+12.5% per year) and France (+97.2% per year).

Import Prices by Country

The average import price for lauric acid and other acids, their salts and esters stood at $X per ton in 2021, surging by 33% against the previous year. In general, the import price enjoyed a remarkable increase. The pace of growth was the most pronounced in 2014 an increase of 80%. Over the period under review, average import prices hit record highs in 2021 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was China ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+25.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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