Report Update Nov 1, 2024

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

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Philippines: Citric Acid Market 2024

Citric Acid Market Size in the Philippines

The Philippine citric acid market rose remarkably to $X in 2021, increasing by 9.4% 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, continues to indicate a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Citric Acid Exports

Exports from the Philippines

In 2021, the amount of citric acid and its salts and esters exported from the Philippines skyrocketed to X tons, jumping by 1,726% compared with 2020 figures. Overall, exports, however, saw a dramatic slump. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, citric acid exports soared to $X in 2021. In general, exports, however, faced a deep setback. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Vietnam (X tons) and Singapore (X tons) were the main destinations of citric acid exports from the Philippines.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Vietnam (with a CAGR of +85.3%).

In value terms, Vietnam ($X) remains the key foreign market for citric acid and its salts and esters exports from the Philippines, comprising 88% of total exports. The second position in the ranking was taken by Singapore ($X), with a 12% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Vietnam amounted to +80.1%.

Export Prices by Country

In 2021, the average citric acid export price amounted to $X per ton, reducing by -27.2% against the previous year. Over the period under review, the export price, however, saw a remarkable increase. The most prominent rate of growth was recorded in 2015 an increase of 1,169% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Singapore totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+6.0%), while the prices for the other major destinations experienced a decline.

Citric Acid Imports

Imports into the Philippines

In 2021, the amount of citric acid and its salts and esters imported into the Philippines contracted to X tons, waning by -6.9% compared with 2020 figures. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 34%. Over the period under review, imports attained the maximum at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, citric acid imports surged to $X in 2021. Overall, imports, however, continue to indicate a relatively flat trend pattern. Over the period under review, imports reached the maximum at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest citric acid supplier to the Philippines, with a 83% share of total imports. Moreover, citric acid imports from China exceeded the figures recorded by the second-largest supplier, Singapore (X tons), eightfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at -1.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+65.0% per year) and Germany (-2.4% per year).

In value terms, China ($X) constituted the largest supplier of citric acid and its salts and esters to the Philippines, comprising 66% of total imports. The second position in the ranking was taken by Germany ($X), with a 14% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled -2.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+0.9% per year) and Singapore (+47.0% per year).

Import Prices by Country

The average citric acid import price stood at $X per ton in 2021, rising by 29% against the previous year. In general, the import price recorded a relatively flat trend pattern. The import price peaked at $X per ton in 2014; afterwards, it flattened through to 2021.

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 Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+3.4%), while the prices for the other major suppliers experienced a decline.

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, accounting for 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?

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

What are the leading suppliers of citric acid and its salts and esters to the Philippines?

In value terms, China constituted the largest supplier of citric acid to the Philippines, comprising 66% of total imports. The second position in the ranking was occupied by Germany, with a 14% share of total imports.

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

In 2021, the average citric acid export price amounted to $25,391 per ton, jumping by 1,919% against the previous year.

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

The average citric acid import price stood at $1,196 per ton in 2021, growing by 29% against the previous year.

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

Philippines

Data coverage:

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