Citric Acid Market 2023 Market Competitve Situations, Promising Growth Factors, Leading Players, Comparisions by Regions, Future Prospectus from 2018

“Citric Acid Market”
Global Citric Acid Market: Information by Form (Powder, Liquid), Function (Acidulant, Antioxidant, Preservative, Emulsifying Agent), Application (Food and Beverages, Cosmetics and Personal Care, Pharmaceuticals), and Region—Forecast till 2023

Citric Acid Market Highlights

Citric acid is the nature’s acidulant and present in citrus fruits, plants, microbes, and fluids. It helps in metabolic processes and is highly soluble in nature. The acid faces huge demand as an acidifying tool. The market for the acid is growing due to its wide usage in foods & beverages. It is demanded heavily from ready-to-eat foods. Moreover, the market is expanding further due to other uses of citric acid.

Apart from this it also used in pharmaceutical products, personal care, cleaners & detergent and others. In pharmaceutical industry citric acid is used as stabilizing & flavoring agent and in medical products such as soluble aspirin, antacid and also in dentifrices. In the personal category, it is used in shampoos and conditioners, and detergents.

Food & beverage industry is valued to have the largest market size due to its end-use in the industry such as food safety, food preservation, preparation of processed beverages & food items. The food & beverage industry has driven the market for citric acid across the globe. Europe accounts for the largest market share due to its demand from food & beverages and personal care products. Furthermore APAC has seen tremendous growth in the convenience food industry due to the urbanization and population growth.

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GLOBAL CITRIC ACID MARKET IS PREDICTED TO GROW AT APPROXIMATELY 6.2% BY 2022

Major Manufacturters Analyzed in this Report – 

Archer-Daniels-Midland Company, COFCO Biochemical (AnHui) Co. Ltd., Cargill, Incorporated, Jungbunzlauer Suisse AG, ., RZBC Group Co. Ltd., Tate & Lyle PLC, Huangshi Xinghua Biochemical Co.LtdWeifang Ensign Industry Co., Ltd., Gadot Biochemical Industries Limited, and S.A. Citrique Belge N.V.

Regional Analysis of Global Citric Acid Market

The global citric acid market has been segmented into five regions—Asia-Pacific, North America, Europe, Latin America, and the Middle East and Africa. 

The market in Asia-Pacific is expected to be the largest and fastest-growing citric acid market during the forecast period. The growing food industry, due to the increasing acceptance of ready-to-drink (carbonated) beverages and processed foods, is expected to drive the regional product market. China is one of the largest consumers and exporters of citric acid and held a substantial share of the global citric acid market as of 2017. Relaxed investment norms, low production cost, and the availability of cheap labor in China contributes to the growth of end-use industries such as cosmetics and personal care, pharmaceuticals, and home care, which will stimulate product demand during the forecast period.

North America and Europe are also major markets for citric acid that are expected to continue growing during the forecast period. Significant demand from the established food and beverage, pharmaceuticals, and cosmetics and personal care industries in these regions are expected to result in market growth during the forecast period.

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The market in the Middle East and Africa is at a nascent stage; however, the growing food and beverage and cosmetics and personal care industries in Saudi Arabia, the UAE, and other GCC countries are likely to provide business opportunities to market players during the forecast period.

The Latin American market holds the smallest market share and is expected to show sluggish growth during the forecast period due to poor economic growth in the region.

Scope of the report

This study provides an overview of the global citric acid industry, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific, and Rest of the World. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global citric acid market as grade, form and application. On the basis of grade it is segmented as food grade, pharmaceutical grade and others. On the basis of form it is segmented as liquid and powder. On the basis of application it is segmented as food & beverages, cleaning & chelating agent, cosmetics & personal care, pharmaceuticals and others.

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The report for Global Citric Acid Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.

TABLE OF CONTENTS

1 Executive Summary

2 Scope Of The Report

2.1 Market Definition

2.2 Scope Of The Study

2.2.1 Research Objectives

2.2.2 Assumptions & Limitations

2.3 Markets Structure

3 Market Research Methodology

3.1 Research Function

3.2 Secondary Research

3.3 Primary Research

3.4 Forecast Model

4 Market Landscape

4.1 Supply Chain Analysis

4.1.1 Raw Material Suppliers

4.1.2 Manufacturers/Producers

4.1.3 Distributors/Retailers/Wholesalers/E-Commerce

4.1.4 End- Users

4.2 Porter’s Five Forces Analysis

4.2.1 Threat Of New Entrants

4.2.2 Bargaining Power Of Buyers

4.2.3 Bargaining Power Of Suppliers

4.2.4 Threat Of Substitutes

4.2.5 Intensity Of Competitive Rivalry

5 Market Dynamics Of Global Citric Acid Market

Scope of the report

 

This study provides an overview of the global citric acid industry, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific, and Rest of the World. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global citric acid market as grade, form and application. On the basis of grade it is segmented as food grade, pharmaceutical grade and others. On the basis of form it is segmented as liquid and powder. On the basis of application it is segmented as food & beverages, cleaning & chelating agent, cosmetics & personal care, pharmaceuticals and others.

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