Citric Acid Prices

Citric Acid Prices June 2024

In Q2 2024, citric acid prices in the United States reached 906 USD/MT. The market navigated through various challenges including environmental constraints and geopolitical tensions. Despite these influences, the market maintained stability with minor price adjustments, thanks to effective logistics and inventory management strategies.

In Q2 2024, citric acid prices in South Korea reached 787 USD/MT in June. The market experienced a notable increase in prices due to heightened production costs and regional supply constraints influenced by China. Strategic inventory purchases and trading activities also shaped the market trends.

Q2 2024 ended with citric acid priced at 921 USD/MT in Germany. The market remained stable with minimal price fluctuations. The balance between supply and demand was well-maintained, due to stable production and a seasonal uptick in demand from the food and beverage industry.

Citric Acid Prices March 2024

In Q1 2024, citric acid prices in the United States rose due to slowdowns in production, rise in freight costs, reliance on disrupted imports from China, and geopolitical tensions, further compounded by supply chain issues and regional weather disruptions. The quarter ended with citric acid priced at 893 USD/MT in March.

Q1 2024 in China ended with citric acid priced at 727 USD/MT in March. The market remained stable with occasional hikes during the quarter, influenced by slowdowns in production around the Lunar New Year and increased post-holiday demand, leading to tightened supplies and escalated prices.

In Germany, the quarter ended with citric acid priced at 902 USD/MT in March. The country experienced fluctuating citric acid prices in early 2024, impacted by strategic adjustments to import policies and raw material costs. Prices stabilized by the quarter's end, driven by resumed production in exporting countries and reduced disruptions in trade activities.

Citric Acid Prices December 2023

The citric acid prices in the United States for Q4 2023 reached 865 USD/MT in December. The market encountered supply challenges amid a rise in domestic demand as winter approached. This demand spike, combined with rising input costs, led to tightened supplies and influenced market optimism.

The price trend for citric acid in South Korea for Q4 2023, reached 765 USD/MT in December. The period was marked by decreased imports and a focus on replenishing domestic inventories. The appreciating local currency and shifting international demands further shaped the pricing trends in the market.

The price trend for citric acid in Germany for Q4 2023, reached 1615 USD/MT in December. The market saw a balance of steady demand and robust supply levels. With no significant disruptions in production, the market dynamics were primarily guided by domestic demand influences and broader European market conditions.

Regional Coverage

The report provides a detailed analysis of the citric acid market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the citric acid price trend.

Global Citric Acid Price

The report offers a holistic view of the global citric acid pricing trends in the form of citric acid price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights the current price but also provides insights into citric acid historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into citric acid price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed citric acid demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Citric Acid Price

Q2 2024:

The European market in Q2 2024 was characterized by its stability, supported by uninterrupted supply and consistent demand. The market benefited from regular production levels and efficient management practices across the supply chain, which included mitigating freight costs and avoiding major operational halts. Germany's market saw slight adjustments, primarily due to seasonal increases in demand from the food and beverage sector, which helped to stabilize prices despite potential market fluctuations. This period highlighted the region's ability to manage supply effectively against a backdrop of steady demand, resulting in a balanced market throughout the quarter.

Q1 2024:

The market in Q1 2024 saw prices influenced by strategic regional decisions that impacted global competitiveness and pricing tactics. The broader European market experienced fluctuations, with Germany adjusting its import strategies in response to changes in feedstock costs and production activity within the Eurozone. Price reductions early in the quarter were followed by an uptick in March, driven by resumed production in key exporting countries and easing trade disruptions, which offered some stability to the otherwise fluctuating market conditions.

Q4 2023:

Enhanced market conditions and escalated demand from downstream sectors led to a steady rise in citric acid prices. The ample availability of supplies, however, caused imbalances, prompting price corrections. Belgium saw notable changes, influenced by economic growth and stable inflation, which increased consumer spending and confidence. Meanwhile, Germany maintained consistent production levels with no plant shutdowns, influencing the market dynamics. Price fluctuations were also affected by currency valuation, with the Euro gaining strength, which supported an uptick in export activities.

This analysis can be extended to include detailed citric acid price information for a comprehensive list of countries.

North America Citric Acid Price

Q2 2024:

The citric acid market in North America displayed remarkable resilience in Q2 2024, maintaining stability despite global disruptions. Major exporters adeptly balanced supply with demand, ensuring the market remained unaffected by events like the Baltimore Bridge collapse and the drought in the Panama Canal. Suppliers' effective inventory strategies and steady input costs further contributed to the market's equilibrium. Notably, the United States market adjusted prices in response to logistical complexities and geopolitical issues, which influenced freight costs and required alternative transportation solutions.

Q1 2024:

Throughout the first quarter of 2024, the market in North America was marked by notable price volatility and substantial increases. Factors including maintenance shutdowns, slowdowns in production, and rise in freight charges, and a reliance on imports from China during supply chain disruptions significantly impacted pricing. Geopolitical tensions and trade disruptions also influenced the market, particularly as demand spiked globally post-Lunar New Year, leading to elevated prices in March. Further complications arose from potential weather-related disruptions along the Mississippi River, exacerbating the tight supply situation.

Q4 2023:

The period started with a robust demand that contributed to inventory replenishment at higher rates, primarily due to a spike in domestic inquiries as the winter season began. Price adjustments were also fueled by rising input costs, such as labor and energy, putting inflationary pressures on the supply chain. Additionally, a notable reduction in imports, particularly from major exporters in the latter half of the quarter, constrained the supply further, impacting prices. Despite these supply issues, market sentiment remained positive with expectations of sustained demand.

Specific citric acid historical data within the United States and Canada can also be provided.

Middle East and Africa Citric Acid Price

The report explores the citric acid pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

In addition to region-wise data, information on citric acid prices for countries can also be provided.

Asia Pacific Citric Acid Price

Q2 2024:

The quarter saw a sharp rise in citric acid prices across the Asia Pacific, primarily fueled by robust demand outpacing the available supply. The price surge was compounded by rise in production costs, notably for corn, and strengthened by geopolitical tensions affecting logistics, including those resulting from conflicts and the Panama Canal drought. The price adjustments in South Korea were particularly significant, mirroring the regional trends largely influenced by China’s market activities. Seasonal demand peaks and strategic trading behaviors, such as bulk purchases before holidays, played critical roles in shaping the market dynamics throughout the quarter.

Q1 2024:

The citric acid market in the Asia Pacific region showed relative stability in Q1 2024, despite intermittent price fluctuations in some areas. China's prices were primarily influenced by Lunar New Year and Spring Festival induced production slowdowns, coupled with a spike in demand and freight costs. After the holidays, increased purchasing activity, both domestically and abroad, pushed prices up, as suppliers responded to rising demand and traders anticipated potential shortages. The market saw some price reductions early in the quarter due to year-end destocking, which affected overall market dynamics.

Q4 2023:

The Asia Pacific citric acid market observed a dynamic fourth quarter in 2023. A significant factor was the reduced import activity, as the market shifted focus towards building up domestic inventories to cater to local demand. This was coupled with a steady demand and constrained supply lines, leading to price increases. The South Korean Won's appreciation also played a role in altering price structures. Moreover, a general decline in international demand influenced the regional market, particularly with lower export prices from China and surplus stocks in Germany affecting overall pricing trends.

This citric acid price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Citric Acid Price

The analysis of citric acid prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Citric Acid Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Citric Acid Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2024 Edition,” offers an in-depth analysis of citric acid pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot price of citric acid at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of citric acid price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing citric acid price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Citric Acid Industry Analysis

The global citric acid industry size reached 2.9 Million Tons in 2023. By 2032, IMARC Group expects the market to reach 3.7 Million Tons, at a projected CAGR of 2.60% during 2023-2032.

• The rising employment of citric acid in the food and beverage (F&B) sector is propelling the market growth. It is a suitable flavoring and preservative agent in various food products, such as candies and soft drinks. It has antioxidant properties that help prevent oxidation and spoilage of food items while preserving their nutritional value. It is also used as an emulsifier in ice creams to reduce fat globules. The rising consumption of various ready-to-eat (RTE) and processed food products among individuals worldwide is bolstering the market growth. Furthermore, wine manufacturers are adding citric acid to wine to improve its low acidity and taste.
• The citric acid demand is further propelled by its utilization in the pharmaceutical sector. It is employed in creams to clear up skin infections. Citric acid-based drugs can help prevent kidney stones and are also suitable for metabolic acidosis, a buildup of acid inside the body.
• Citric acid is added to medicines to help stabilize and preserve the active ingredients and is used to enhance or mask the taste of chewable and syrup-based medications. Additionally, the growing demand for citric acid-based supplements among individuals is positively influencing the market.
• The rising focus on maintaining personal hygiene among individuals is catalyzing the demand for citric acid. Moreover, citric acid is utilized in numerous personal care products, such as lipsticks, nail polish, body wash, face cleansers, hair sprays, and deodorants. It maintains the pH and helps neutralize odors in various cosmetic products. In addition, it benefits in improving skin tone while minimizing wrinkles and acne scars. It preserves cosmetics and personal care products to ensure they do not grow mold, bacteria, or fungus.

Citric Acid News

The report covers the latest developments, updates, and trends impacting the global citric acid industry, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in citric acid production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the citric acid price trend.

Latest developments in the citric acid industry:

• In March 2023, Noble Biomaterials launched its latest antimicrobial technology, ‘Ionic+® Botanical,’ which uses a bio-based registered citric acid formula to inhibit the growth of microbes and reduce odor on fabric and other soft surfaces.
• In March 2024, Jungbunzlauer, a leading producer of natural ingredients derived from fermentation, acquired Alliance Gums & Industries (AGI), previously owned by Roquette Ventures. AGI will function as an independent subsidiary within the Jungbunzlauer Group, maintaining its brand identity. This acquisition highlights Jungbunzlauer's dedication to its texturants business, further emphasized by a recent investment in a new Biogums plant in Port Colborne, Ontario.

Product Description

Citric acid is a naturally occurring organic acid that is found in several fruits and vegetables. It is usually added to packaged food products and drinks to extend their shelf life. It prevents the formation of bacteria, mold, yeast, and fungi and retains the color, flavor, and texture of food products.

Citric acid is widely employed in cleaning products due to its ability to kill bacteria and viruses. Besides this, it is used as a water softener in detergents on account of its chelating and buffering properties. It operates by breaking down the trace quantities of metal discovered in water, which makes it an all-natural option for hard water treatment. In addition, citric acid is also used as a preservative for stored blood in the pharmaceutical sector.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of citric acid pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting citric acid price trend, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The citric acid price charts ensure our clients remain at the forefront of the industry.