During the initial months of 2023, sodium citrate prices in Asia surged upwards, buoyed by a surge in both local and global inquiries. This heightened demand not only bolstered sales but also propelled prices, prompting some manufacturers to ramp up production to keep pace, averting any scarcity concerns.
However, the succeeding quarter painted a different picture as activities in the food and pharmaceutical sectors tapered off gradually, leading to a dip in the demand for sodium citrate. China’s export orders dwindled amidst sluggish economic conditions, contributing to the overall price slump.
Likewise, in Europe, the initial quarter witnessed a sharp price hike due to increased consumer interest and constrained inventory. However, the subsequent quarter revealed a gradual decline, impacted by lackluster performance in the citric acid sector and decreased demand from related industries. North America mirrored this trend, experiencing a surge in sodium citrate prices during the first quarter propelled by the food and pharmaceutical sectors, coupled with high-priced imports from China. Yet, the second quarter witnessed a decline owing to reduced citric acid prices and economic uncertainty, impeding the recovery of sodium citrate prices.
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Definition
Sodium citrate, a sodium salt of citric acid, is a crystalline compound with diverse applications. It is known for its excellent chelating properties, making it valuable in the food and beverage industry as a preservative and flavor enhancer. Sodium citrate acts as an emulsifying agent in cheese products, contributing to a smooth texture. It is also used in medicine as an anticoagulant in blood transfusions and as an alkalizing agent in medications. Sodium citrate exhibits a pH buffering capacity, maintaining acidity in various products. Its ability to complex with metal ions makes it a versatile compound in many industrial processes, from food production to pharmaceuticals and beyond.
Key Details About the Sodium citrate Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on Sodium citrate in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.
The Sodium citrate Price analysis, including India Sodium citrate price, USA Sodium citrate price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting the Sodium citrate Price Trend:
Sodium citrate, a remarkably adaptable compound, holds a wide array of uses across diverse industries. Within the food sector, it functions as a valuable additive, serving as an emulsifier, preservative, and flavor enhancer. Its role in maintaining the consistency of processed cheese by averting separation and ensuring a smooth, creamy texture is particularly noteworthy. Furthermore, sodium citrate plays a pivotal role in the beverage industry by regulating acidity and enriching the flavor of soft drinks and fruit-based beverages.
In pharmaceuticals, it serves as a vital anticoagulant in blood transfusion bags, preventing clot formation during storage. Its significance extends to the cosmetic industry where it acts as a pH stabilizer in skincare products. Its chelating abilities are leveraged across various industrial processes, such as water treatment and metal cleansing, effectively binding to metal ions and preventing undesired interactions.
The adaptability and safety profile of sodium citrate render it an indispensable component in numerous industrial applications, owing to its diverse functionalities and reliability.
Key Players:
- Pan Chem Corporation
- Jungbunzlauer Suisse AG
- Cargill Incorporated
- ADM
- ATP Group
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