South Africa: Glutamic Acid Market 2024

Glutamic Acid Market Size in South Africa

The South African glutamic acid market surged to $X in 2022, with an increase of 43% 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, the total consumption indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +48.4% against 2018 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Glutamic Acid Exports

Exports from South Africa

After four years of growth, shipments abroad of glutamic acid and its salts decreased by -34.6% to X tons in 2022. Overall, exports, however, enjoyed a buoyant increase. The growth pace was the most rapid in 2013 when exports increased by 280%. Over the period under review, the exports hit record highs at X tons in 2021, and then declined notably in the following year.

In value terms, glutamic acid exports reduced to $X in 2022. Over the period under review, exports, however, showed a strong increase. The growth pace was the most rapid in 2013 when exports increased by 140%. The exports peaked at $X in 2021, and then reduced in the following year.

Exports by Country

Zambia (X tons), Zimbabwe (X tons) and Swaziland (X tons) were the main destinations of glutamic acid exports from South Africa, together accounting for 91% of total exports.

From 2012 to 2022, the biggest increases were recorded for Zambia (with a CAGR of +124.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for glutamic acid exported from South Africa were Zambia ($X), Zimbabwe ($X) and Swaziland ($X), with a combined 94% share of total exports.

In terms of the main countries of destination, Zambia, with a CAGR of +142.7%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average glutamic acid export price amounted to $X per ton, jumping by 41% against the previous year. Overall, the export price, however, recorded a mild shrinkage. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Democratic Republic of the Congo ($X per ton), while the average price for exports to Namibia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Democratic Republic of the Congo (+12.6%), while the prices for the other major destinations experienced more modest paces of growth.

Glutamic Acid Imports

Imports into South Africa

In 2022, glutamic acid imports into South Africa skyrocketed to X tons, growing by 16% against the previous year's figure. Over the period under review, total imports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +7.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +98.8% against 2012 indices. The pace of growth appeared the most rapid in 2018 with an increase of 19% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, glutamic acid imports skyrocketed to $X in 2022. In general, total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +57.2% against 2018 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest glutamic acid supplier to South Africa, accounting for a 83% share of total imports. Moreover, glutamic acid imports from China exceeded the figures recorded by the second-largest supplier, Brazil (X tons), fivefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +12.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (-0.3% per year) and Indonesia (-33.0% per year).

In value terms, China ($X) constituted the largest supplier of glutamic acid and its salts to South Africa, comprising 81% of total imports. The second position in the ranking was taken by Brazil ($X), with an 18% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China totaled +11.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (-0.8% per year) and Indonesia (-29.6% per year).

Import Prices by Country

The average glutamic acid import price stood at $X per ton in 2022, increasing by 28% against the previous year. Overall, the import price, however, continues to indicate a slight contraction. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+5.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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