Citric Acid Prices and Forecast Data | IMARC Group

In Q1 2024, Citric Acid Prices in the US rose to 885 USD/MT due to slowdowns, maintenance, export restrictions, and freight costs. China ended at 720 USD/MT, initially falling but rising in February and March. Germany saw a decline but ended at 895 USD/MT in March due to resumed production and eased trade disruptions.

The latest report by IMARC Group, titled "Citric Acid Pricing Report 2024: Price Trend, Chart, Industry 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 and 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 demand, analyzing how it impacts industry 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 Q1 2024:

• United States: 885 USD/MT
• China: 720 USD/MT
• Germany: 895 USD/MT

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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 industry, equipping stakeholders with the latest information on industry fluctuations, regulatory modifications, and technological progress. It serves as an exhaustive resource for stakeholders, enhancing strategic planning and forecast capabilities.

Key Highlights of the Citric Acid Price Trend- Q1 2024

The rising consumption of convenient food products among individuals worldwide is catalyzing the demand for citric acid. The acid is widely used as a preservative, flavor enhancer, and acidulant in a variety of food and beverage products, including soft drinks, candies, and ready-to-eat (RTE) meals, catering to the fast-paced lifestyles of modern consumers. Increasing preferences for natural and organic ingredients that are considered a safer alternative to synthetic additives is impelling the market growth. This trend is particularly prominent in the food and beverage (F&B) industry, where clean-label products are gaining traction. Besides this, the pharmaceutical and cosmetic industries contribute to the market's growth. Citric acid is a key ingredient in pharmaceutical formulations and is used for its buffering and chelating properties. In cosmetics, it is valued for its ability to adjust the potential of hydrogen (pH) levels and enhanced product stability. Moreover, the expanding applications of citric acid in household cleaning products due to its effectiveness as a natural cleaning agent and disinfectant are supporting the market growth. Environmental and health concerns regarding chemical-based cleaning agents are encouraging consumers and manufacturers towards eco-friendly alternatives.

Factors Influencing Citric Acid Prices Analysis - Q1 2024

In North America

In Q1 of 2024, the citric acid market in North America faced notable price fluctuations. Production slowdowns and maintenance shutdowns led to reduced output, while export restrictions and increased freight charges added to the costs. The USA, being a major importer, had to adjust its prices to stay competitive amidst limited inventories and delayed supplies from exporting regions. Weather-related concerns over potential disruptions in the Mississippi River further intensified market inquiries, pushing prices higher.

In Asia Pacific Region

In the first quarter of 2024, the citric acid market in the Asia Pacific region exhibited overall stability with some fluctuations in specific countries. By the end of the quarter, the price for citric acid in China, showcased an average quarterly increase. Steady demand from the pharmaceutical and food processing industries supported prices and maintained a positive market sentiment. In March, sustained demand from Chinese end-users led to higher prices, prompting increased production.

In Europe Region

Throughout the first quarter of 2024, the European market for citric acid experienced significant fluctuations influenced by a range of factors. A decrease in raw material costs in Germany, spurred by weakened demand projections and reduced manufacturing activity in the Eurozone, contributed to the overall price reduction.

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.

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Citric Acid Prices in the US rose to 885 Usd/MT due to slowdowns, maintenance, export restrictions