Philippines - Glutamic Acid And Its Salts - Market Analysis, Forecast, Size, Trends And Insights
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View PricingGlutamic Acid Price in the Philippines - 2023
Contents:
- Glutamic Acid Price in the Philippines (CIF) - 2023
- Glutamic Acid Price in the Philippines (FOB) - 2022
- Glutamic Acid Imports in the Philippines
- Glutamic Acid Exports in the Philippines
Glutamic Acid Price in the Philippines (CIF) - 2023
The average glutamic acid import price stood at $1,482 per ton in June 2023, with a decrease of -8.4% against the previous month. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in April 2023 an increase of 9% m-o-m. Over the period under review, average import prices attained the maximum at $1,893 per ton in November 2022; however, from December 2022 to June 2023, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In June 2023, the country with the highest price was Vietnam ($1,910 per ton), while the price for China ($1,170 per ton) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by Vietnam (+0.7%), while the prices for the other major suppliers experienced mixed trend patterns.
Glutamic Acid Price in the Philippines (FOB) - 2022
The average glutamic acid export price stood at $2,027 per ton in 2022, jumping by 35% against the previous year. In general, the export price recorded a buoyant increase. The most prominent rate of growth was recorded in 2016 when the average export price increased by 117%. Over the period under review, the average export prices reached the maximum at $2,771 per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.
As there is only one major export destination, the average price level is determined by prices for Papua New Guinea.
From 2012 to 2022, the rate of growth in terms of prices for Papua New Guinea amounted to +12.9% per year.
Glutamic Acid Imports in the Philippines
Glutamic acid imports into the Philippines expanded rapidly to 57K tons in 2022, increasing by 5.3% against the year before. The total import volume increased at an average annual rate of +3.4% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by 8.4% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.
In value terms, glutamic acid imports soared to $96M in 2022. In general, total imports indicated a buoyant increase from 2019 to 2022: its value increased at an average annual rate of +11.8% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +57.2% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.
Import of Glutamic Acid in the Philippines (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Brazil | 20.3 | 23.1 | 20.5 | 31.3 | 15.5% |
China | 16.8 | 15.3 | 19.0 | 26.7 | 16.7% |
Thailand | 17.9 | 13.8 | 17.4 | 25.7 | 12.8% |
Indonesia | 11.2 | 6.6 | 8.3 | 9.9 | -4.0% |
Vietnam | 2.3 | 2.1 | 2.3 | 2.3 | 0.0% |
Others | 0.1 | 0.2 | 0.3 | 0.1 | 0.0% |
Total | 68.6 | 61.0 | 67.8 | 96.0 | 11.9% |
Top Suppliers of Glutamic Acid to the Philippines in 2022:
- China (20.1K tons)
- Brazil (16.2K tons)
- Thailand (14.2K tons)
- Indonesia (5.1K tons)
- Vietnam (1.3K tons)
Glutamic Acid Exports in the Philippines
In 2022, glutamic acid exports from the Philippines soared to 83 tons, rising by 157% compared with the previous year's figure. In general, exports, however, recorded a noticeable curtailment.
In value terms, glutamic acid exports soared to $169K in 2022. Over the period under review, exports enjoyed a buoyant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
Export of Glutamic Acid in the Philippines (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Papua New Guinea | 1.5 | 0.4 | 3.0 | 165 | 379.1% |
Vietnam | 62.4 | 15.9 | 25.6 | N/A | -35.9% |
Thailand | 51.2 | 9.4 | 10.0 | N/A | -55.8% |
Others | 27.8 | 5.4 | 10.1 | 3.8 | -48.5% |
Total | 143 | 31.2 | 48.8 | 169 | 5.7% |
Top Export Markets for Glutamic Acid from the Philippines in 2022:
- Papua New Guinea (82.4 tons)
This report provides an in-depth analysis of the glutamic acid market in the Philippines. 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:
- Philippines
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the Philippines
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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