Citric Acid

Citric Acid

Global Citric Acid Market to Reach US$5.3 Billion by 2030

The global market for Citric Acid estimated at US$3.7 Billion in the year 2023, is expected to reach US$5.3 Billion by 2030, growing at a CAGR of 5.5% over the analysis period 2023-2030. Citric Acid Powder, one of the segments analyzed in the report, is expected to record a 5.3% CAGR and reach US$3.1 Billion by the end of the analysis period. Growth in the Liquid Citric Acid segment is estimated at 5.7% CAGR over the analysis period.

The U.S. Market is Estimated at US$1.1 Billion While China is Forecast to Grow at 7.9% CAGR

The Citric Acid market in the U.S. is estimated at US$1.1 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$505.7 Million by the year 2030 trailing a CAGR of 7.9% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 4.3% and 5.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 5.0% CAGR.

Global Citric Acid Market - Key Trends & Drivers Summarized

Citric acid is a naturally occurring organic acid found in citrus fruits, and it is widely used in various industries due to its versatile properties. In the food and beverage industry, citric acid is commonly used as a preservative, flavoring agent, and acidulant to enhance the taste and stability of products such as soft drinks, candies, and canned foods. Its chelating properties make it valuable in cleaning and detergents, where it helps remove limescale and improve the effectiveness of cleaning agents. Citric acid is also utilized in the pharmaceutical and cosmetics industries, serving as a pH adjuster, antioxidant, and active ingredient in skincare products.

The production of citric acid is primarily achieved through the fermentation of sugar substrates by the mold Aspergillus niger. Advances in fermentation technology and microbial strain development have increased the efficiency and yield of citric acid production, making it more cost-effective and environmentally friendly. The demand for citric acid is rising due to its natural origin and biodegradability, which align with the growing consumer preference for eco-friendly and sustainable products. Additionally, regulatory approvals for citric acid as a safe food additive and its extensive use in a variety of applications are driving market growth.

The growth in the citric acid market is driven by several factors. Firstly, the increasing demand for natural and clean-label ingredients in the food and beverage industry is boosting the use of citric acid as a preservative and flavoring agent. Secondly, advancements in fermentation technology and microbial strain improvement are enhancing the production efficiency and cost-effectiveness of citric acid. Thirdly, the expanding applications of citric acid in pharmaceuticals, cosmetics, and cleaning products are contributing to its market growth. Lastly, the shift towards environmentally friendly and sustainable products is driving the adoption of biodegradable and non-toxic citric acid in various industries. These factors collectively contribute to the robust growth of the citric acid market.

Select Competitors (Total 47 Featured) -

• Cargill, Inc.
• Archer Daniels Midland Company
• Balchem Corporation
• Fuso Chemical Co., Ltd.
• International Flavors & Fragrances, Inc.
• Jungbunzlauer Suisse AG
• COFCO Group
• Gadot Biochemical Industries Ltd.
• Foodchem International Corporation
• Hawkins, Inc.
• Huangshi Xinghua Biochemical Co. Ltd.
• BBCA Group
• Chemelco International B.V.
• Anmol Chemicals Group
• Dr. Paul Lohmann GmbH KG

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