Citric Acid Prices in South Korea 

• South Korea: $765/MT

In Q4 2023, Citric Acid Prices in South Korea reached $765/MT in December, driven by reduced imports and steady domestic demand. In Germany, prices hit $1,615/MT due to improved market conditions and high demand. In Belgium, prices reached $1,265/MT, showing a 2% decrease from the first half of the quarter due to low end-user demand and destocking activities.

The latest report by IMARC Group, titled "Citric Acid Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data," provides a thorough examination of the Citric Acid Price Trend. This report delves into the Price of Citric Acid globally, presenting a detailed analysis, along with an informative Price Chart. Through comprehensive Price analysis, the report sheds light on the key factors influencing these trends. Additionally, it includes historical data to offer context and depth to the current pricing landscape. The report also explores the News, analyzing how it impacts market dynamics. To aid in strategic planning, the price forecast section provides insights into price forecasts, making this price report an invaluable resource for industry stakeholders.

Citric Acid Prices December 2023: 

• South Korea: $765/MT
• Germany: $1615/MT
• Belgium: $1265/MT

Report Offering: 

• Monthly Updates: Annual Subscription
• Quarterly Updates: Annual Subscription
• Biannually Updates: Annual Subscription

The study delves into the factors affecting citric acid price variations, including alterations in the cost of raw materials, the balance of supply and demand, geopolitical influences, and sector-specific developments.

The report also incorporates the most recent updates from the market, equipping stakeholders with the latest information on market fluctuations, regulatory modifications, and technological progress. It serves as an exhaustive resource for stakeholders, enhancing strategic planning and forecast capabilities.

Request For a Sample Copy of the Report:  https://www.imarcgroup.com/citric-acid-pricing-report/requestsample

Citric Acid Price Trend- Q4 2023

The global citric acid prices are primarily driven by its widespread application across diverse industries, including food and beverages, pharmaceuticals, and cosmetics. In the food and beverage sector, citric acid is extensively used as a flavor enhancer and preservative, valued for its ability to add a sour taste to foods and drinks, which is increasingly favored by consumers seeking more intense and diverse flavors. The rising demand for natural preservatives and the shift towards clean-label ingredients have further bolstered the market, as citric acid is perceived as a safer and more natural alternative compared to synthetic additives. Additionally, in the pharmaceutical industry, citric acid plays a crucial role as an acidulant in the formulation of effervescent tablets and as a buffering agent in medications, enhancing the demand in this sector. The ongoing innovation and development of biotechnological production methods, primarily fermentation, have improved yield and cost-effectiveness, propelling supply chain efficiency and market growth. Environmental concerns and the biodegradable nature of citric acid also align with the growing consumer preference for sustainable and eco-friendly products, contributing to the market's expansion. Overall, the versatility, safety profile, and sustainable characteristics of citric acid drive its increased usage and market growth across multiple sectors.

Citric Acid Market Analysis

The global citric acid market size reached US$ 2.9 Million Tons in 2023. By 2032, IMARC Group expects the market to reach US$ 3.7 Million Tons, at a projected CAGR of 2.60% during 2023-2032. In the first quarter of 2024, the global market for Citric acid experienced a complex array of influences that shaped pricing dynamics significantly across different regions. In North America, particularly the United States, Citric acid prices were subject to considerable fluctuations and an overall upward trend in costs, ending the quarter at USD 885/MT CFR New York. Several factors contributed to this scenario, starting with production slowdowns and maintenance shutdowns within the US, which tightened domestic supply. Concurrently, the US market's heavy reliance on imports, particularly from China, became a critical vulnerability when Chinese production faced disruptions due to the Lunar New Year celebrations, exacerbating supply constraints. These were further compounded by geopolitical tensions and global trade disruptions, which intensified after the holiday period, leading to increased freight charges and extended delivery times. Such disruptions were not isolated, as concerns over potential logistical issues along the Mississippi River due to adverse weather also played a role in pushing prices upwards. Additionally, the raw material prices, which saw a slight decrease at the beginning of the quarter, did not sustain this trend, adding to the upward pressure on finished Citric acid prices as the quarter progressed.

In contrast, the European market experienced a different set of dynamics that led to a generally downward trend in Citric acid prices, with the quarter ending at USD 895/MT CFR Hamburg in Germany. This decline was influenced by several factors, including strategic pricing adjustments by major players like Germany, aimed at maintaining competitiveness in the global market. The European market also faced reduced demand projections and a decline in manufacturing activity across the Eurozone, which led to decreased raw material costs and excess production capacity. As a result, market players in Europe adjusted their pricing strategies and inventory levels in response to these challenges, actively managing stock to prevent surplus. Despite these efforts, the market still faced difficulties due to declining local demand, export challenges, and seasonal adjustments, which further pressured prices downward. However, towards the end of the quarter, there was a slight uptick in prices due to the resumption of production in key exporting countries and the easing of some trade disruptions, reflecting the interconnected nature of global supply chains and their impact on regional market dynamics.

Key Points Covered in the Citric Acid Pricing Report: 

The report delivers the following key findings, alongside a comprehensive breakdown of prices by region:

• Citric Acid Prices
• Citric Acid Price Trend
• Citric Acid Demand & Supply
• Citric Acid Prices Analysis
• Demand Supply Analysis by Type
• Demand Supply Analysis by Application
• Demand Supply Analysis of Raw Materials
• Citric Acid Price Analysis
• Citric Acid Industry Drivers, Restraints, and Opportunities
• Citric Acid News and Recent Developments
• Global Event Analysis
• List of Key Players

Regional Price Analysis: 

• Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand
• Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece
• North America: United States and Canada
• Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, Peru
• Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, Morocco

Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.

About Us:

IMARC is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

Contact us:

IMARC Group

134 N 4th St. Brooklyn, NY 11249, USA

Email: sales@imarcgroup.com

Tel No:(D) +91 120 433 0800

United States: +1-631-791-1145