Puerto Rico: Citric Acid Market 2024

Citric Acid Market Size in Puerto Rico

In 2021, the Puerto Rican citric acid market increased by 24% to $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, the total consumption indicated a mild expansion from 2012 to 2021: its value increased at an average annual rate of +1.5% 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 decreased by -21.7% against 2018 indices. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Citric Acid Production in Puerto Rico

In value terms, citric acid production surged to $X in 2021 estimated in export price. In general, the total production indicated a modest expansion from 2012 to 2021: its value increased at an average annual rate of +1.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -22.6% against 2018 indices. The growth pace was the most rapid in 2018 when the production volume increased by 32%. As a result, production attained the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Citric Acid Exports

Exports from Puerto Rico

In 2021, the amount of citric acid and its salts and esters exported from Puerto Rico was estimated at less than X kg, remaining relatively unchanged against the previous year. In general, exports saw a relatively flat trend pattern.

In value terms, citric acid exports stood at less than $X in 2021. Overall, exports recorded a relatively flat trend pattern.

Exports by Country

China prevails in exports structure, recording X tons, which was near 67% of total exports in 2021. It was distantly followed by Belgium (X tons) and Thailand (X tons), together constituting a 13% share of total exports. Germany (X tons), Canada (X tons), the Netherlands (X tons), the United States (X tons) and Colombia (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to citric acid exports from China stood at +4.8%. At the same time, Belgium (+24.0%), the Netherlands (+11.8%), Thailand (+11.5%) and Germany (+3.1%) displayed positive paces of growth. Moreover, Belgium emerged as the fastest-growing exporter exported in the world, with a CAGR of +24.0% from 2012-2021. Canada and Colombia experienced a relatively flat trend pattern. By contrast, the United States (-5.6%) illustrated a downward trend over the same period. While the share of Belgium (+5.7 p.p.) and Thailand (+2.2 p.p.) increased significantly in terms of the global exports from 2012-2021, the share of the United States (-1.6 p.p.), Canada (-1.6 p.p.) and China (-2.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest citric acid supplier from Puerto Rico, comprising 51% of global exports. The second position in the ranking was held by Germany ($X), with a 7.9% share of global exports. It was followed by Belgium, with a 7.6% share.

In China, citric acid exports expanded at an average annual rate of +4.9% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Germany (+4.0% per year) and Belgium (+20.5% per year).

Export Prices by Country

The export price in Puerto Rico stood at less than $X per ton in 2021, remaining relatively unchanged against the previous year. Overall, the export price showed a relatively flat trend pattern.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+3.5%), while the other leaders experienced more modest paces of growth.

Citric Acid Imports

Imports into Puerto Rico

In 2021, the amount of citric acid and its salts and esters imported into Puerto Rico was estimated at less than X kg, remaining relatively unchanged against the previous year's figure. Over the period under review, imports showed a relatively flat trend pattern.

In value terms, citric acid imports stood at less than $X in 2021. Overall, imports continue to indicate a relatively flat trend pattern.

Imports by Country

In 2021, Germany (X tons), the United States (X tons), India (X tons), Poland (X tons), the Netherlands (X tons), Mexico (X tons), Italy (X tons), Japan (X tons), Russia (X tons), France (X tons), Indonesia (X tons) and Spain (X tons) was the key importer of citric acid and its salts and esters in the world, generating 55% of total import. The UK (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +14.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest citric acid importing markets into Puerto Rico were the United States ($X), Germany ($X) and Poland ($X), together accounting for 26% of total imports.

Poland, with a CAGR of +13.0%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Puerto Rico amounted to less than $X per ton, standing approx. at the previous year. In general, the import price recorded a relatively flat trend pattern.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($X per ton), while Indonesia ($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 (+4.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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