Global Citric Acid Market, By Form (Anhydrous and Liquid), Application (Food, Pharmaceutical and Cosmetics, Reagent and Others), Function (Acidulant, Antioxidant, Preservative and Sequestrant), Grade (Food, Pharmaceutical and Industrial Grade), Country (U.S., Canada, Mexico, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa) Industry Trends and Forecast to 2029.
Market Analysis and Insights Global Citric Acid Market
Data Bridge Market Research analyses that the global citric acid market to account USD 9.43 billion by 2029 growing at a CAGR of 5.92% in the forecast period of 2022-2029. Data Bridge Market Research report on citric acid market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.
Citric acid is a weak organic acid with the chemical formula C6H807. It is one of the natural acids. A citrus fruit such as lemons, limes, and oranges, among others, contains it. It works as a food additive and a safe preservative, assisting in the stabilisation and preservation of food products. It aids in the preservation of emulsions and the prevention of beverage degradation.
The rise of food additives in the processed food industry has a direct impact on the citric acid market. During the forecast years, consumer demand in food and beverage products made with safe ingredients is expected to stay high. Furthermore, increased use in the pharmaceutical and personal care industries contributes to increased market demand for citric acid products. Citric acid aids manufacturers in providing a clean label for their products while also meeting consumer demand for safe and acceptable products while staying within their budget.
The market's expansion is being fuelled by rising demand for organic food additives and shifting customer tastes. The usage of phosphate has been banned, and it has been replaced by citric acid, which has resulted in market growth.
However, manufacturers face great rivalry in acquiring raw materials from both inter- and intra-industry competitors which results in limiting market growth to a large extent.
This citric acid market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on citric acid market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Citric Acid Market Scope and Market Size
Citric acid market is segmented on the basis of form, application, function and grade. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of form, the citric acid market is segmented into anhydrous and liquid.
- Based on application, the citric acid market is segmented into food, pharmaceutical and cosmetics, reagent and others.
- Based on function, the citric acid market is segmented into acidulant, antioxidant, preservative and sequestrant.
- Based on grade, the citric acid market is segmented into food, pharmaceutical and industrial grade.
Citric Acid Market Country Level Analysis
The citric acid market is analyses and market size, volume information is provided by country, form, application, function and grade as referenced above.
The countries covered in the citric acid market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America dominate the citric acid market and will continue to flourish its trend of dominance during the forecast period owing to the rising demand for citric acid and constant use of product in various industries in this region. Asia-Pacific region is expected to score the highest CAGR due to the growing use of citric acid in various food and cosmetic preparations.
The country section of the citric acid market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Citric Acid Market Share Analysis
The citric acid market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to citric acid market.
Some of the major players operating in the citric acid market report are ADM, Cargill, Incorporated, Tate & Lyle, Jungbunzlauer Suisse AG, Kenko Corporation, Pfizer, Inc., Cofco, Huangshi Xinghua Biochemical Co. Ltd, Foodchem International Corporation, RZBC Group, Weifang Ensign Industry Co., Ltd., Danisco A/S, Gadot Biochemical Industries Ltd., S.A. Citrique Belge N.V., BASF SE, Associated Bristish Foods plc, DSM and Chemelco International among others.
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