SADC: Citric Acid Market 2024

Citric Acid Market Size in SADC

In 2021, the SADC citric acid market increased by 3.7% to $X, rising for the fourth year in a row after four years of decline. The market value increased at an average annual rate of +2.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked in 2021 and is expected to retain growth in the immediate term.

Citric Acid Production in SADC

In value terms, citric acid production fell to $X in 2021 estimated in export price. The total production indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +62.2% against 2017 indices. The pace of growth appeared the most rapid in 2019 with an increase of 29%. Over the period under review, production attained the peak level at $X in 2020, and then reduced in the following year.

Citric Acid Exports

Exports in SADC

In 2021, the amount of citric acid and its salts and esters exported in SADC declined modestly to X tons, therefore, remained relatively stable against the previous year. Over the period under review, exports continue to indicate a abrupt decrease. The growth pace was the most rapid in 2013 when exports increased by 63%. Over the period under review, the exports reached the maximum at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, citric acid exports soared to $X in 2021. In general, exports continue to indicate a drastic downturn. The pace of growth appeared the most rapid in 2013 with an increase of 56% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

In 2021, South Africa (X tons) and Swaziland (X tons) represented the largest exporter of citric acid and its salts and esters in SADC, creating 99% of total export.

From 2012 to 2021, the biggest increases were recorded for South Africa (with a CAGR of +11.0%).

In value terms, Swaziland ($X) and South Africa ($X) were the countries with the highest levels of exports in 2021.

Among the main exporting countries, South Africa, with a CAGR of +8.3%, recorded the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

The export price in SADC stood at $X per ton in 2021, growing by 26% against the previous year. Overall, the export price showed a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Swaziland ($X per ton), while South Africa stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Swaziland (+4.0%).

Citric Acid Imports

Imports in SADC

In 2021, overseas purchases of citric acid and its salts and esters were finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. The total import volume increased at an average annual rate of +5.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of 20%. The volume of import peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, citric acid imports surged to $X in 2021. Overall, imports, however, recorded a slight contraction. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

South Africa represented the main importing country with an import of about X tons, which resulted at 59% of total imports. Swaziland (X tons) took a 17% share (based on physical terms) of total imports, which put it in second place, followed by Tanzania (7.8%). Zimbabwe (X tons), Angola (X tons), Democratic Republic of the Congo (X tons) and Mozambique (X tons) followed a long way behind the leaders.

Imports into South Africa increased at an average annual rate of +2.2% from 2012 to 2021. At the same time, Mozambique (+27.5%), Democratic Republic of the Congo (+16.8%), Swaziland (+16.4%), Zimbabwe (+11.2%), Tanzania (+9.6%) and Angola (+4.1%) displayed positive paces of growth. Moreover, Mozambique emerged as the fastest-growing importer imported in SADC, with a CAGR of +27.5% from 2012-2021. While the share of Swaziland (+10 p.p.), Tanzania (+2.5 p.p.), Zimbabwe (+1.8 p.p.), Mozambique (+1.5 p.p.) and Democratic Republic of the Congo (+1.5 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of South Africa (-16.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) constitutes the largest market for imported citric acid and its salts and esters in SADC, comprising 60% of total imports. The second position in the ranking was taken by Swaziland ($X), with a 13% share of total imports. It was followed by Tanzania, with an 8.7% share.

In South Africa, citric acid imports declined by an average annual rate of -3.9% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Swaziland (+13.4% per year) and Tanzania (+11.1% per year).

Import Prices by Country

The import price in SADC stood at $X per ton in 2021, growing by 38% against the previous year. In general, the import price, however, continues to indicate a abrupt curtailment. Over the period under review, import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Angola ($X per ton), while Swaziland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Tanzania (+1.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform