Spain: Citric Acid Market 2024

Citric Acid Market Size in Spain

In 2021, the Spanish citric acid market decreased by -1.8% to $X, falling for the third year in a row after two years of growth. Over the period under review, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Citric Acid Production in Spain

In value terms, citric acid production dropped significantly to $X in 2021 estimated in export price. Overall, production showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the production volume increased by 138% against the previous year. Over the period under review, production reached the maximum level at $X in 2020, and then declined significantly in the following year.

Citric Acid Exports

Exports from Spain

In 2021, overseas shipments of citric acid and its salts and esters increased by 332% to X tons, rising for the third year in a row after three years of decline. Overall, exports enjoyed a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, citric acid exports surged to $X in 2021. Over the period under review, exports posted significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Italy (X tons), France (X tons) and Germany (X tons) were the main destinations of citric acid exports from Spain, with a combined 62% share of total exports. These countries were followed by Poland, Portugal, Austria, Denmark, the Netherlands, the United States and Cuba, which together accounted for a further 31%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Austria (with a CAGR of +70.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for citric acid exported from Spain were Italy ($X), Germany ($X) and France ($X), together comprising 73% of total exports. Poland, Austria, Portugal, Denmark, the Netherlands, the United States and Cuba lagged somewhat behind, together accounting for a further 21%.

Austria, with a CAGR of +80.5%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average citric acid export price amounted to $X per ton, rising by 55% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Portugal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Nigeria (+42.0%), while the prices for the other major destinations experienced more modest paces of growth.

Citric Acid Imports

Imports into Spain

In 2021, supplies from abroad of citric acid and its salts and esters was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, total imports indicated a measured increase from 2012 to 2021: its volume increased at an average annual rate of +2.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 when imports increased by 27% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports remained at a lower figure.

In value terms, citric acid imports soared to $X in 2021. Overall, total imports indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +2.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 with an increase of 68% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of citric acid to Spain, with a 56% share of total imports. Moreover, citric acid imports from China exceeded the figures recorded by the second-largest supplier, Austria (X tons), fivefold. The third position in this ranking was taken by Belgium (X tons), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+0.4% per year) and Belgium (+15.9% per year).

In value terms, China ($X) constituted the largest supplier of citric acid and its salts and esters to Spain, comprising 44% of total imports. The second position in the ranking was held by Austria ($X), with a 12% share of total imports. It was followed by Belgium, with a 12% share.

From 2012 to 2021, the average annual growth rate of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (-0.6% per year) and Belgium (+16.7% per year).

Import Prices by Country

In 2021, the average citric acid import price amounted to $X per ton, jumping by 39% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: 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 Belgium (+0.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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