Nucleic Acids Market Overview in Cyprus
Market Overview
The Cypriot nucleic acids market reduced modestly to $
in 2019, flattening at the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2011 with an increase of % y-o-y. Nucleic acids consumption peaked at $ in 2015; however, from 2016 to 2019, consumption stood at a somewhat lower figure.
In value terms, nucleic acids production skyrocketed to $ in 2019 estimated in export prices. Over the period under review, production showed a measured increase. The pace of growth was the most pronounced in 2011 when the production volume increased by % year-to-year. Nucleic acids production peaked at $ in 2012; however, from 2013 to 2019, production failed to regain the momentum.
in 2019, flattening at the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2011 with an increase of % y-o-y. Nucleic acids consumption peaked at $ in 2015; however, from 2016 to 2019, consumption stood at a somewhat lower figure.In value terms, nucleic acids production skyrocketed to $
in 2019 estimated in export prices. Over the period under review, production showed a measured increase. The pace of growth was the most pronounced in 2011 when the production volume increased by % year-to-year. Nucleic acids production peaked at $ in 2012; however, from 2013 to 2019, production failed to regain the momentum.Consumption
In 2019, approx. tonnes of nucleic acids and their salts were consumed in Cyprus; standing approx. at 2018 figures. The total consumption volume increased at an average annual rate of +% over the period from 2007 to 2019; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2010 with an increase of % year-to-year. Over the period under review, consumption reached the peak volume at tonnes in 2017; however, from 2018 to 2019, consumption remained at a lower figure.
The size of the nucleic acids market in Cyprus reduced to $ in 2019, approximately reflecting the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2011 with an increase of % against the previous year. Over the period under review, the market reached the maximum level at $ in 2015; however, from 2016 to 2019, consumption failed to regain the momentum.
tonnes of nucleic acids and their salts were consumed in Cyprus; standing approx. at 2018 figures. The total consumption volume increased at an average annual rate of +% over the period from 2007 to 2019; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2010 with an increase of % year-to-year. Over the period under review, consumption reached the peak volume at tonnes in 2017; however, from 2018 to 2019, consumption remained at a lower figure.The size of the nucleic acids market in Cyprus reduced to $
in 2019, approximately reflecting the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2011 with an increase of % against the previous year. Over the period under review, the market reached the maximum level at $ in 2015; however, from 2016 to 2019, consumption failed to regain the momentum.Market Forecast
Driven by increasing demand for nucleic acids in Cyprus, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +% for the period from 2019 to , which is projected to bring the market volume to tonnes by the end of .
% for the period from 2019 to , which is projected to bring the market volume to tonnes by the end of .Market Structure
Driven by a growing demand, the share of imports in total supply in Cyprus increased significantly over the last twelve-year period (from % to %).
% to %).Trade Balance
This tangible trade surplus reflects the fact that the market remains buoyed by domestic production, and the industry is highly incorporated into the global market, which is likely to continue in the medium term.
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