Report Update Nov 1, 2024

Sri Lanka - Glutamic Acid and Its Salts - Market Analysis, Forecast, Size, Trends and Insights

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Sri Lanka: Glutamic Acid Market 2024

Glutamic Acid Market Size in Sri Lanka

In 2022, the Sri Lankan glutamic acid market increased by 11% to $X, rising for the fourth year in a row after three years of decline. In general, consumption recorded a deep downturn. Glutamic acid consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Glutamic Acid Exports

Exports from Sri Lanka

After six years of growth, shipments abroad of glutamic acid and its salts decreased by -30.5% to X kg in 2022. Over the period under review, exports, however, recorded a significant expansion. The pace of growth was the most pronounced in 2018 with an increase of 320% against the previous year. The exports peaked at X kg in 2021, and then declined markedly in the following year.

In value terms, glutamic acid exports contracted to $X in 2022. Overall, exports, however, posted a significant expansion. The growth pace was the most rapid in 2018 when exports increased by 477%. Over the period under review, the exports attained the maximum at $X in 2021, and then dropped in the following year.

Exports by Country

Cyprus (X kg) was the main destination for glutamic acid exports from Sri Lanka, accounting for a 44% share of total exports. Moreover, glutamic acid exports to Cyprus exceeded the volume sent to the second major destination, Maldives (X kg), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Cyprus totaled -26.5%.

In value terms, the largest markets for glutamic acid exported from Sri Lanka were Cyprus ($X) and Maldives ($X).

Maldives, with a CAGR of +31.5%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review.

Export Prices by Country

In 2022, the average glutamic acid export price amounted to $X per ton, picking up by 24% against the previous year. Overall, the export price, however, recorded a abrupt downturn. The pace of growth appeared the most rapid in 2018 when the average export price increased by 37%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Cyprus (+58.8%).

Glutamic Acid Imports

Imports into Sri Lanka

In 2022, supplies from abroad of glutamic acid and its salts decreased by -2.6% to X tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, imports showed a drastic downturn. The most prominent rate of growth was recorded in 2021 when imports increased by 64%. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, glutamic acid imports soared to $X in 2022. In general, imports showed a abrupt setback. The pace of growth appeared the most rapid in 2021 when imports increased by 86% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) was the main supplier of glutamic acid to Sri Lanka, accounting for a 91% share of total imports. Moreover, glutamic acid imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to -5.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+7.1% per year) and Hong Kong SAR (+8.8% per year).

In value terms, China ($X) constituted the largest supplier of glutamic acid and its salts to Sri Lanka, comprising 91% of total imports. The second position in the ranking was taken by Indonesia ($X), with a 7.2% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled -2.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+6.0% per year) and Hong Kong SAR (+3.7% per year).

Import Prices by Country

The average glutamic acid import price stood at $X per ton in 2022, with an increase of 19% against the previous year. Overall, the import price showed a relatively flat trend pattern. Over the period under review, average import prices attained the maximum at $X per ton in 2015; however, from 2016 to 2022, 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 Indonesia ($X per ton), while the price for Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+3.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for glutamic acid and its salts in the world?

The countries with the highest volumes of in 2021 were Japan, Myanmar and Nigeria, with a combined 28% share of global consumption. These countries were followed by Indonesia, Taiwan Chinese), China, Brazil, the Philippines, South Korea, India, Malaysia, Vietnam and Mexico, which together accounted for a further 44%.

What are the largest producers of glutamic acid and its salts in the world?

The country with the largest volume of glutamic acid production was China, comprising approx. 67% of total volume. Moreover, glutamic acid production in China exceeded the figures recorded by the second-largest producer, Brazil, fivefold. Indonesia ranked third in terms of total production with a 12% share.

What are the leading suppliers of glutamic acid and its salts to Sri Lanka?

In value terms, China constituted the largest supplier of glutamic acid to Sri Lanka, comprising 82% of total imports. The second position in the ranking was occupied by Malaysia, with a 10% share of total imports.

What are the leading importers of glutamic acid and its salts from Sri Lanka?

In value terms, Cyprus $75) and Maldives $46) constituted the largest markets for glutamic acid exported from Sri Lanka worldwide.

What is the average export price for glutamic acid and its salts in Sri Lanka?

The average glutamic acid export price stood at $2,086 per ton in 2021, surging by 9.2% against the previous year.

What is the average import price for glutamic acid and its salts in Sri Lanka?

In 2021, the average glutamic acid import price amounted to $1,170 per ton, growing by 5% against the previous year.

This report provides an in-depth analysis of the glutamic acid market in Sri Lanka. 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 21102020 - Glutamic acid and its salts

Country coverage:

Sri Lanka

Data coverage:

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