Sodium Pyruvate Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of Sodium Pyruvate in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Sodium Pyruvate Price Trend for the Q1 of 2024

Asia

In response to shifting dynamics, China, a key player in the sodium pyruvate market, adopted a southward stance. Excessive imports and limited purchasing activity, particularly from the food additive and nutraceutical sectors, led to a surplus of the commodity, pressuring traders to destock the stocks at discounted rates to avoid storage costs. However, as the quarter progressed, the stabilization of sodium pyruvate prices in China hinted at an emerging equilibrium, potentially marking a phase of balanced supply-demand dynamics.

Sodium Pyruvate Price Chart

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Although the influx of expensive overseas imports in the region and the resumption of downstream activities somehow supported the gradual recovery of the sodium pyruvate market, the traders still opted for a cautious stance and controlled the sudden surge in the prices of sodium pyruvate. As the traders adjusted their pricing strategies in accordance with the market trend, the manufacturers focused on balancing efficiency, cost-effectiveness, and market competitiveness.

Europe

In accordance with the global activities of the sodium pyruvate market, the European region also noticed oscillations in its pricing patterns. Initially, the market was supported by the rise in the end user food and beverage sector's production activities. But soon, the challenges presented by the changing economic landscape and fluctuating cost of feedstock chemicals resulted in the downward pressure on the sodium pyruvate market.

The traders also noticed a hesitation in the consumer spending patterns as the rising inflationary pressure and soaring rates of interest limited the consumer spending budget. Further, the escalating tensions at European ports, particularly in Germany, and the re-routing of the Red Sea trade route due to the increasing number of Houthi attacks raised the overall cost of transportation and led to additional delays in shipment arrival times, depreciating the overall sentiments of the sodium pyruvate price trend in the Q1 of 2024.

North America

In the first quarter of 2024, the sodium pyruvate market in North America underwent a downward price adjustment in the latter half after surging through the major parts of the first quarter. This pessimistic approach to the market was driven by a combination of factors, notably a decrease in demand from key downstream sectors. The pricing dynamics of sodium pyruvate were further heavily influenced by the demand trends in these downstream sectors.

The fluctuations in feedstock prices, both in exporting and major importing regions, further contributed to the shifting pricing landscape of sodium pyruvate. The moderation in prices was also caused by the decrease in raw material costs, particularly of sodium salts, which served as a crucial component in sodium pyruvate production. Additionally, operational challenges and subdued demand from the food and beverages sector also dampened the market momentum.

Analyst Insight

According to Procurement Resource, the price trend of Sodium Pyruvate is expected to struggle with the challenging and changing landscape of global maritime trade and the declining cost of feedstock chemicals in the near quarters of 2024.

Sodium Pyruvate Price Trend for the First Half of 2023

Sodium Pyruvate is primarily used in healthcare, research, and investigation laboratories as an energy source and probe. The prices are mostly dependent on feedstock dextrose and sodium hydroxide. In the first half of the year 2023, Sodium Pyruvate prices saw a hybrid market behavior, especially in the Asian region, with prices inclining in the first quarter and declining in the second.

Faced with high inflation, the European markets observed a demand dip with very limited buying queries, so the Sodium Pyruvate market remained in a slump for most of the said period. While in the North American region, Sodium Pyruvate had a slow start as the existing stocks were catering to the limited demands, but in the latter half, the market picked up some pace as the inventories began to run out.

Analyst Insight

According to Procurement Resource, the price trend for Sodium Pyruvate are likely to follow its fluctuating supply–demand dynamics in the upcoming months as well.

Sodium Pyruvate Price Trend for the Second Half of 2022

Asia Pacific

The prices for sodium pyruvate declined in the third quarter. The feedstock dextrose also saw a decline in prices as the end-user industries such as pharmaceutical, beverage, R&D industries, etc., decreased their demand. The price trend of sodium pyruvate was affected by the cuts in the prices implied by the Chinese manufacturers in order to stabilize the market.

In addition to these conditions, the fourth quarter also witnessed logistical difficulties and a surge in inflation rates. With a prolonged decline in prices, the interest of investors in this sector fluctuated. The Covid restrictions, rise in stocks, and surge in energy prices, all negatively impacted the sodium pyruvate market.

Europe

The price trend for sodium pyruvate was stable during the third quarter, however, it dipped during the fourth quarter in the European region. The third quarter was relatively stable due to the steady dynamics of supply and demand and consistent costs of manufacturing. The fourth quarter was, however, not favourable owing to the rise in inflation, ample availability of stock and port congestion.

North America

The North American market was steady in the third quarter of 2022. The region had stable demand from the end-user industries and ample and efficient supply from the manufacturers. The pharmaceutical industry was, however, reluctant in its inquiries, and exports were reduced due to low demand from the importing nations. The fourth quarter was then hit by high manufacturing costs due to a surge in inflation, logistical difficulties, a rise in transportation costs, and port congestion which adversely affected the sodium pyruvate market.

Analyst Insight

The prices of Sodium pyruvate are likely to decrease during the coming month given the low demand in the end-user industry market and the rise in inflation rates globally and increasing logistical difficulties.

Procurement Resource provides latest prices of Sodium Pyruvate. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.