CIS: Citric Acid Market 2024

Citric Acid Market Size in CIS

The CIS citric acid market skyrocketed to $X in 2022, picking up by X% against the previous year. Overall, consumption showed strong growth. The level of consumption peaked in 2022 and is likely to see gradual growth in the near future.

Citric Acid Production in CIS

In value terms, citric acid production expanded to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Citric Acid Exports

Exports in CIS

In 2022, overseas shipments of citric acid and its salts and esters increased by X% to X tons, rising for the third consecutive year after four years of decline. In general, exports posted buoyant growth. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, citric acid exports skyrocketed to $X in 2022. Over the period under review, exports saw a strong expansion. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Russia was the major exporting country with an export of around X tons, which reached X% of total exports. It was distantly followed by Armenia (X tons), constituting a X% share of total exports. Uzbekistan (X tons) held a relatively small share of total exports.

Exports from Russia increased at an average annual rate of X% from 2012 to 2022. At the same time, Armenia (X%) and Uzbekistan (X%) displayed positive paces of growth. Moreover, Armenia emerged as the fastest-growing exporter exported in the CIS, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Armenia and Uzbekistan increased by X and X percentage points, respectively.

In value terms, Russia ($X) remains the largest citric acid supplier in the CIS, comprising X% of total exports. The second position in the ranking was taken by Uzbekistan ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Russia amounted to X%. In the other countries, the average annual rates were as follows: Uzbekistan (X% per year) and Armenia (X% per year).

Export Prices by Country

The export price in the CIS stood at $X per ton in 2022, shrinking by X% against the previous year. Over the period under review, the export price continues to indicate a noticeable curtailment. The pace of growth was the most pronounced in 2013 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (X%), while the other leaders experienced a decline in the export price figures.

Citric Acid Imports

Imports in CIS

Citric acid imports rose markedly to X tons in 2022, surging by X% against 2021. Overall, imports showed strong growth. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in years to come.

In value terms, citric acid imports soared to $X in 2022. Over the period under review, imports saw a buoyant increase. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

Russia dominates imports structure, amounting to X tons, which was approx. X% of total imports in 2022. Kazakhstan (X tons) took the second position in the ranking, followed by Uzbekistan (X tons). All these countries together took near X% share of total imports. The following importers - Azerbaijan (X tons) and Kyrgyzstan (X tons) - together made up X% of total imports.

Imports into Russia increased at an average annual rate of X% from 2012 to 2022. At the same time, Kyrgyzstan (X%), Uzbekistan (X%), Azerbaijan (X%) and Kazakhstan (X%) displayed positive paces of growth. Moreover, Kyrgyzstan emerged as the fastest-growing importer imported in the CIS, with a CAGR of X% from 2012-2022. While the share of Uzbekistan (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Russia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) constitutes the largest market for imported citric acid and its salts and esters in the CIS, comprising X% of total imports. The second position in the ranking was held by Kazakhstan ($X), with a X% share of total imports. It was followed by Uzbekistan, with a X% share.

In Russia, citric acid imports expanded at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Kazakhstan (X% per year) and Uzbekistan (X% per year).

Import Prices by Country

The import price in the CIS stood at $X per ton in 2022, surging by X% against the previous year. Import price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, citric acid import price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2016 when the import price increased by X%. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Azerbaijan (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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