Report Update: Apr 1, 2024

Philippines - Glutamic Acid And Its Salts - Market Analysis, Forecast, Size, Trends And Insights

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Glutamic Acid Price in the Philippines - 2023

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)

Source: IndexBox Market Intelligence Platform

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.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
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
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
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
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023