Citric Acid Market Outlook 2031
The Citric Acid Market was USD 3.52 Billion in 2022 and is likely to reach USD 4.93 Billion by 2031, expanding at a CAGR of 3.82% during 2023 – 2031. The growth of the market is attributed to citric acid's wide range of applications in the food and non-food sectors as an acidulant, buffering, antioxidant, conservative, and binding agent.
Citrus acid is a weak organic acid, which is found in citrus fruits. It is a synthetic form of a substance that is mostly used as a flavoring agent, dietary supplements, and cleansing agent. Citric acid is often employed as a preservative and flavoring agent owing to its sour taste and acidity nature. It is also used to conserve or maintain medical items, as well as to disinfect viruses and bacteria.
It's used in a variety of industries, including food and beverage, cosmetics and medicines, as well as steel making and commercial and printing applications. Citric acid is a carboxylic acid, which means it's a white crystalline organic chemical. It is a natural chemical found in the tissues of animals and plants. It is a natural food preservative that gives soft drinks and food a tart or acidic flavor. It's made from cane sugar, molasses, beet sugar, maize sugar, and it's made by submerged fermentation of Candida sp. or Aspergillus niger from a variety of carbohydrates.
Citric Acid Market Trends, Drivers, Restraints, and Opportunities
- Consumer demand for foodstuffs produced with natural and safe ingredients is expected to spur the market expansion during the forecast period.
- Rising demand for natural food additives due to increasing consumer health preferences is the main factor propelling the market growth in the coming years.
- With growing purchasing power and increasing size of urbanization, the substance is becoming more widely used in nutrition and health supplements are anticipated to fuel the market expansion during the forecast period.
- Accessibility of alternatives is estimated to hamper the market growth.
- Acquiring raw materials, manufacturers confront fierce rivalry from both inter-and intra-industry peers possess as a key challenge that can impede the market expansion in the coming years.
- Fewer government policies are expected to offer significant opportunities for the market players.
Scope of Citric Acid Market Report
The report on the global citric acid market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Citric Acid Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Forms (Powders and Liquids), Applications (Personal Care, Cosmetics, Pharmaceuticals, and Food and Beverages [Confectioneries, Bakeries, Dairy, Beverages, and Others])
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Saudi Bio-Acids Company; Hawkins Pharmaceutical Group; Posy Pharmachem Pvt Ltd; Cofco Biochemical; Foodchem International Corporation; Archer Daniels Midland Company; Gadot Biochemical Industries; Merck KGaA; Cargill Incorporated; and Jungbunzlauer Suisse AG
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Citric Acid Market Segment Insights
Powders segment is projected to account for a major market share
Based on forms, the global citric acid market is segmented into powders and liquids. The powders segment is expected to represent a key share of the market during the forecast period due to it is easier to carry and has a longer life span.
Food and beverages segment is expected to grow at a significant pace
On the basis of applications, the market is segregated into personal care, cosmetics, pharmaceuticals, reagent, food and beverages, and others. The food and beverages segment is expected to constitute a key share of the market in the coming years owing to unique drinks with exotic and seasonal fruit flavors and flavor mixes that have also emerged on the global market.
Citric acid outperforms tartaric, lactic acids, and phosphoric, in terms of shelf-life extension, pH balancing, flavor, and sharpness, to mention a few. Citric acid's use is greatly enhanced by the high demand for ready-to-drink (RTD) healthful beverages and soft drinks. Citric acid is commonly used to give foods and beverages a delightful, sour flavor.
Citric acid is often used as a pH regulator in the production of gelatin sweets, jams, jellies, and as well as others. Berries, fruits, and other items used in the production of dishes and chocolates benefit from it as flavor enhancers. It is also used to give soft drinks and foods an acidic (sour) flavor, as well as to stiffen up items like canned tomatoes. In food items including seasoning salts, flavoring powders, and crispy snacks, citric acid provides a dry substitute to vinegar and lemon juice.
Europe is expected to dominate the market
On the basis of regions, the market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Europe is anticipated to expand at a healthy CAGR during the forecast period. The regional market growth can be attributed to rapid growth for citric acid in nations such as the United Kingdom and Germany, Italy, and Spain are driving the global citric aids market. Citric acid is in high demand among German food and pharmaceutical firms owing to its reduced toxicity when contrasted to other acidulants utilized mostly in the food and pharmaceutical industries.
Citric acid is used by craft brewers to give tartness to Belgian-style witbiers sometimes, and it is projected that demand for citric acid in the food and beverage industry in the United Kingdom can rise as a result. Furthermore, citric acid's widespread use in many end-user industries, such as cosmetic products and personal care, medicines, and home care, is boosting the industries' growth in European nations.
Segments
The global citric acid market has been segmented based on
Forms
Applications
- Personal Care
- Cosmetics
- Pharmaceuticals
- Food and Beverages
- Confectioneries
- Bakeries
- Dairy
- Beverages
- Others
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Saudi Bio-Acids Company
- Hawkins Pharmaceutical Group
- Posy Pharmachem Pvt Ltd
- Cofco Biochemical
- Foodchem International Corporation
- Archer Daniels Midland Company
- Gadot Biochemical Industries
- Merck KGaA
- Cargill Incorporated
- Jungbunzlauer Suisse AG
Competitive Landscape
Key players competing in the global citric acid market include Saudi Bio-Acids Company; Hawkins Pharmaceutical Group; Posy Pharmachem Pvt Ltd; Cofco Biochemical; Foodchem International Corporation; Archer Daniels Midland Company; Gadot Biochemical Industries; Merck KGaA; Cargill Incorporated; and Jungbunzlauer Suisse AG. Some of these players are adopting several market strategies including acquisitions, mergers, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares.
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