Citric Acid Market

Citric Acid Market by Forms (Powders and Liquids), Applications (Personal Care, Cosmetics, Pharmaceuticals, Food and Beverages [Confectioneries, Bakeries, Dairy, Beverages, and Others]), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: MC-1016
  • Author: Growth Market Reports
  • Rating: 4.9
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  • No. Of Pages: 170
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The global citric acid market size is anticipated to expand at a high CAGR of 4% during the forecast period, 2021–2028. 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.

Citric Acid Market Key Takeaways

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.

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 the 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.

Attributes

Details

Report Title

Citric Acid Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Forms (Powders and Liquids), Applications (Personal Care, Cosmetics, Pharmaceuticals, and Food and Beverages [Confectioneries, Bakeries, Dairy, Beverages, and Others])

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

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


Global 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.

Citric Acid Market By Forms

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.

Citric Acid Market By Applications

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.

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Citric Acid Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Citric Acid Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Citric Acid Market - Supply Chain
  4.5. Global Citric Acid Market Forecast
     4.5.1. Citric Acid Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Citric Acid Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Citric Acid Market Absolute $ Opportunity
5. Global Citric Acid Market Analysis and Forecast by Applications
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Applications
     5.2.2. Y-o-Y Growth Projections by Applications
  5.3. Citric Acid Market Size and Volume Forecast by Applications
     5.3.1. Personal Care Cosmetics Pharmaceuticals Food and Beverages
  5.4. Absolute $ Opportunity Assessment by Applications
  5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Citric Acid Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Citric Acid Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Citric Acid Demand Share Forecast, 2019-2026
7. North America Citric Acid Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Citric Acid Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Citric Acid Market Size and Volume Forecast by Applications
     7.4.1. Personal Care Cosmetics Pharmaceuticals Food and Beverages
  7.5. Basis Point Share (BPS) Analysis by Applications
  7.6. Y-o-Y Growth Projections by Applications
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Citric Acid Demand Share Forecast, 2019-2026
8. Latin America Citric Acid Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Citric Acid Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Citric Acid Market Size and Volume Forecast by Applications
     8.4.1. Personal Care Cosmetics Pharmaceuticals Food and Beverages
  8.5. Basis Point Share (BPS) Analysis by Applications
  8.6. Y-o-Y Growth Projections by Applications
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Citric Acid Demand Share Forecast, 2019-2026
9. Europe Citric Acid Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Citric Acid Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Citric Acid Market Size and Volume Forecast by Applications
     9.4.1. Personal Care Cosmetics Pharmaceuticals Food and Beverages
  9.5. Basis Point Share (BPS) Analysis by Applications
  9.6. Y-o-Y Growth Projections by Applications
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Citric Acid Demand Share Forecast, 2019-2026
10. Asia Pacific Citric Acid Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Citric Acid Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Citric Acid Market Size and Volume Forecast by Applications
     10.4.1. Personal Care Cosmetics Pharmaceuticals Food and Beverages
  10.5. Basis Point Share (BPS) Analysis by Applications
  10.6. Y-o-Y Growth Projections by Applications
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Citric Acid Demand Share Forecast, 2019-2026
11. Middle East & Africa Citric Acid Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Citric Acid Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Citric Acid Market Size and Volume Forecast by Applications
     11.4.1. Personal Care Cosmetics Pharmaceuticals Food and Beverages
  11.5. Basis Point Share (BPS) Analysis by Applications
  11.6. Y-o-Y Growth Projections by Applications
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Citric Acid Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Citric Acid Market: Market Share Analysis
  12.2. Citric Acid Distributors and Customers
  12.3. Citric Acid Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Saudi Bio-Acids Company Hawkins Pharmaceutical Group Posy Pharmachem Pvt Ltd Cofco Biochemical
Segments Covered in the Report
The global citric acid market has been segmented based on

Forms
  • Powders
  • Liquids
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

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.

 Citric Acid Market By Key Players

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