Citric Acid Market By Form (Powder, Liquid), By Application (Acidulant, Cleaning Agent, Binding Agent, Preservative, Others), By Grade (Food, Industrial, Pharmaceutical), By End Use (Food and Beverages, Cleaning and Sanitation, Animal Feed, Personal Care, Pharmaceutical): Global Opportunity Analysis and Industry Forecast, 2023-2032
The citric acid market was valued at $3,296.9 million in 2018 and is projected to reach $7,028.2 million by 2032, growing at a CAGR of 5.6% from 2023 to 2032.
Lemons, grapefruits, oranges, and others are the type of citrus fruits that contain citric acid. Citric acid is a weak organic acid, commonly used in food and beverage products to enhance the flavor, adjust the pH balance of the product, increase the shelf life of the food & beverages, and add a tangy and tart flavor.
Meat and dairy products are the primary sources of phosphate additions, such as sodium phosphate, which serve as preservatives and emulsifiers for meat. Polyphosphates have been shown to improve the strength and amount of water in meat particles in processed meat products. However, manufacturers of food have been discouraged from converting to organic additives due to a number of health issues linked to phosphate use. Colitis, heart disease, renal damage, and other issues are brought on by prolonged phosphorus ingestion. Bloating, pain, headaches, elevated heart rate, and other symptoms are the short-term effects of phosphate increases.
The negative effects of sodium phosphate have provided an opportunity for increased usage of citric acid in food and beverage products. Citric acid is the appropriate substitute for sodium phosphate additives as it can act as a preservative and emulsifying agent. An increase in the usage of citric acid boosts the market growth of the citric acid regulators market.
Expansion of the citric acid market is hampered by the rise in prices of raw materials used in the manufacturing of citric acid. Primary raw materials utilized in citric production are lime, lemons, grapefruit, black mold, and others. The raw material prices are volatile and can be influenced by a series of factors, including extreme weather, political instability, pests & and disease. In addition, an increase in the supply-demand gap in the fruit industry has increased the cost of citrus fruits. The ongoing inconsistency of the production of citric acid from natural sources has affected the price, as the price increased due to less production and more demand.
The increase in demand for ready-to-eat meals & fast food is a key driver for the citric acid market across the globe. Moreover, innovative technologies, introduction of production techniques, and a heavy inflow of investments in R&D activities are the other factors expected to supplement the citric acid market growth. There is an upcoming trend of using natural flavor essence such as citric acid, owing to a rise in health awareness.
Furthermore, high demand for stabilizers and antioxidant food ingredients across European countries to produce commercialized clean label or green food products that are free of additives and other harmful chemicals propel the growth of the citric acid derived from natural sources. Technological strides make it possible for manufacturers to develop innovative flavors to cater to change in customer taste requirements. Innovation in citric acid production and their growth in demand across emerging economies are expected to open new avenues for market players in the future.
The citric acid market is segmented into form, application, grade, end use, and region. By form, the market is classified into powder and liquid. By application, it is segregated into acidulant, cleaning agent, binding agent, preservatives, and others. By grade, it is classified into food, industrial, and pharmaceuticals. By end use, it is divided into food & beverages, cleaning & sanitation, animal feed, personal care, and pharmaceuticals. Region-wise, it is studied across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Italy, Russia, Spain, Netherlands, and rest of Europe), Asia-Pacific (China, India, Japan, Australia, Thailand, Indonesia, Kazakhstan, Uzbekistan, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, South Africa, Saudi Arabia, UAE, Turkey, and rest of LAMEA).
Players operating in the global citric acid market have adopted various developmental strategies to expand their market share, increase profitability, and remain competitive in the market. Key players profiled in this report include Foodchem International Corporation, BASF SE, Jungbunzlauer Suisse AG, Shandong Juxian Hongde Citric Acid Co. Ltd., Tate & Lyle PLC, Cargill, Incorporated, Citribel NV, Sucroal S.A., Gadot Biochemical Industries Ltd., Archer-Daniels-Midland Company, F.B.C Industries, Inc., Shandong Ensign Industry Co.,Ltd., Koninklijke DSM N.V., RZBC Group Co., Ltd., and Huangshi Xinghua Biochemical Co, Ltd.
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the citric acid market analysis from 2018 to 2032 to identify the prevailing citric acid market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the citric acid market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global citric acid market trends, key players, market segments, application areas, and market growth strategies.
Supply Chain Analysis & Vendor Margins
Additional company profiles with specific to client's interest
Additional country or region analysis- market size and forecast
Average Selling Price Analysis / Price Point Analysis
Brands Share Analysis
Criss-cross segment analysis- market size and forecast
Expanded list for Company Profiles
Historic market data
Import Export Analysis/Data
Key player details (including location, contact details, supplier/vendor network etc. in excel format)
SWOT Analysis
Volume Market Size and Forecast
Key Market SegmentsBy GradeFood
Industrial
Pharmaceutical
By End UsePharmaceutical
Food and Beverages
Sub-type
Confectionery
Beverages
Convenience Foods
Bakery
Dairy
Others
Cleaning and Sanitation
Animal Feed
Personal Care
By FormPowder
Liquid
By ApplicationAcidulant
Cleaning Agent
Binding Agent
Preservative
Others
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Italy
Russia
Spain
Netherlands
Rest of Europe
Asia-Pacific
China
India
Japan
Australia
Thailand
Indonesia
Kazakhstan
Uzbekistan
Rest of Asia-Pacific
LAMEA
Brazil
Argentina
South Africa
Saudi Arabia
UAE
Turkey
Rest of LAMEA
Key Market PlayersShandong Juxian Hongde Citric Acid Co. Ltd.
BASF SE
Jungbunzlauer Suisse AG
Tate & Lyle PLC
Gadot Biochemical Industries Ltd.
Citribel NV
Cargill, Incorporated
Sucroal S.A.
Archer-Daniels-Midland Company
F.B.C Industries, Inc.
Shandong Ensign Industry Co.,Ltd.
Koninklijke DSM N.V.
RZBC Group Co., Ltd.
Huangshi Xinghua Biochemical Co, Ltd.
Foodchem International Corporation
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