According to Data Bridge Market Research new Market report, global citric acid market accounted to USD 3.05billion in 2018 growing at a CAGR of 5.0% during the forecast period of 2019 to 2026.
Global Citric Acid Market
Citric acid is an organic acid which is used widely in food and pharmaceutical industry. In the production of citric acid two different methods are used such as solid state fermentation and submerged fermentation by using strain Aspergillus niger, Candida sp and others. Citric acid is used in various industries in the manufacturing of products such as beverages, jellies, jams and preserves, frozen fruit, dairy products, fats and oils, pharmaceuticals, cosmetics and toiletries, metal cleaning and others.
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Global citric acid market is segmented on the basis of form, function, application and geography. By Form (Liquid, Powder), Function (Acidulant, Preservative, Antioxidant, Binding Agent, Others), Application (Food & Beverages, Pharmaceuticals, Others) and Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)
FACTORS DRIVING GROWTH IN CITRIC ACID MARKET
Growing application of citric acid in various industries:
According to United States International Trade Commission (USITC), in 2017, the application of citric acid in various industries are estimated as in beverages industry total 50.0%, food industry total 19.0%, detergent industry total 15.0%, in pharmaceutical total 8.0% and other industries comprises total 8.0% of citric acids.
Few of the major competitors currently working in the citric acid market are Archer Daniels Midland Company, Cargill Incorporated, Tate & Lyle, Jungbunzlauer Suisse AG, COFCO, W. Ulrich GmbH, Atlantic Chemicals Trading GmbH, Jebsen & Jessen (SEA), CLEAN srl, AGREMA Poland Sp. z o.o., Itoil OÜ, EluOecolo & Sitodi, AURIMEX AG, Matco nv, Foodchem International Corporation, Chemequal, HUANGSHI XINGHUA BIOCHEMICAL CO. LTD., RZBC GROUP, Weifang Ensign Industry Co. Ltd., S.A. Citrique Belge N.V., Delek Group, Pfizer Inc., Kenko Corporation, Metagenics Inc., MP Biomedicals LLC., and DuPont Nutrition & Health.
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