Report Update Nov 1, 2024

Nigeria - Citric Acid and Its Salts and Esters - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Citric Acid Market 2024

Citric Acid Market Size in Nigeria

The Nigerien citric acid market declined markedly to $X in 2021, dropping by -59.6% 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). In general, consumption, however, recorded a buoyant expansion. As a result, consumption reached the peak level of $X, and then reduced rapidly in the following year.

Citric Acid Exports

Exports from Nigeria

In 2021, shipments abroad of citric acid and its salts and esters decreased by -39.2% to X kg, falling for the second consecutive year after four years of growth. Over the period under review, exports recorded a precipitous slump. The most prominent rate of growth was recorded in 2017 when exports increased by 51% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, citric acid exports dropped to $X in 2021. Overall, exports recorded a sharp decline. The growth pace was the most rapid in 2015 when exports increased by 23%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Niger (X kg) was the main destination for citric acid exports from Nigeria, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Niger totaled +10.8%.

In value terms, Niger ($X) also remains the key foreign market for citric acid and its salts and esters exports from Nigeria.

From 2012 to 2021, the average annual growth rate of value to Niger amounted to +9.9%.

Export Prices by Country

In 2021, the average citric acid export price amounted to $X per ton, increasing by 63% against the previous year. In general, the export price continues to indicate a mild expansion. The most prominent rate of growth was recorded in 2013 an increase of 89%. Over the period under review, the average export prices attained the maximum at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Niger.

From 2012 to 2021, the rate of growth in terms of prices for Niger amounted to -0.8% per year.

Citric Acid Imports

Imports into Nigeria

In 2021, the amount of citric acid and its salts and esters imported into Nigeria reduced notably to X tons, waning by -63.9% compared with the year before. Over the period under review, imports, however, showed buoyant growth. The pace of growth appeared the most rapid in 2020 with an increase of 99% against the previous year. As a result, imports attained the peak of X tons, and then declined significantly in the following year.

In value terms, citric acid imports shrank notably to $X in 2021. Overall, imports, however, saw a strong expansion. The most prominent rate of growth was recorded in 2020 with an increase of 116% against the previous year. As a result, imports reached the peak of $X, and then shrank remarkably in the following year.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of citric acid to Nigeria, accounting for a 80% share of total imports. Moreover, citric acid imports from China exceeded the figures recorded by the second-largest supplier, Ireland (X tons), more than tenfold. India (X tons) ranked third in terms of total imports with a 3.8% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +11.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Ireland (+17.2% per year) and India (+9.5% per year).

In value terms, China ($X) constituted the largest supplier of citric acid and its salts and esters to Nigeria, comprising 70% of total imports. The second position in the ranking was taken by Ireland ($X), with a 9.9% share of total imports. It was followed by India, with a 5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +12.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Ireland (+16.2% per year) and India (+3.9% per year).

Import Prices by Country

In 2021, the average citric acid import price amounted to $X per ton, increasing by 26% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

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 Ireland ($X per ton), while the price for China ($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 United States (+2.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

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

China remains the largest citric acid consuming country worldwide, 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, accounting for 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 Nigeria?

In value terms, China constituted the largest supplier of citric acid to Nigeria, comprising 83% of total imports. The second position in the ranking was occupied by Ireland, with an 8.5% share of total imports.

What are the leading importers of citric acid and its salts and esters from Nigeria?

In value terms, Niger remains the key foreign market for citric acid exports from Nigeria.

What is the average export price for citric acid and its salts and esters in Nigeria?

In 2021, the average citric acid export price amounted to $805 per ton, with a decrease of -37.8% against the previous year.

What is the average import price for citric acid and its salts and esters in Nigeria?

The average citric acid import price stood at $1,034 per ton in 2021, which is down by -7.8% against the previous year.

This report provides an in-depth analysis of the citric acid market in Nigeria. 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:

Nigeria

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Nigeria
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