Global Citric Acid Market Status and Prospect, Forecast 2018 to 2026
Posted by Andreas Winkler on January 25th, 2018
Citric acid is a weak organic acid that is produced as a white crystalline powder. It is a natural food preservative that is also used to add an acidic, or sour taste to foods and soft drinks. Citric acid occurs naturally in fruits and vegetables such as lemons, limes, etc., which can also be used as an environmentally benign cleaning agent.
Citric acid is used in various end use applications such as animal feed, food & beverages, metal finishing, etc. which is a key factor driving growth of the global citric acid market. In addition, rising demand for ready-to-eat foods, coupled with citric acid being used in cosmetics, toiletries, and pharmaceuticals are major factors expected to fuel growth to the global citric acid market over the forecast period. Moreover, increasing use of citric acid in dietary supplements to enhance flavours is another major factor anticipated to boost growth for the global citric acid market to a significant extent.
However, regular consumption of citric acid causes vomiting, loss of appetite, and diarrhoea which is a major factor restraining growth of the global citric acid market. In addition, high dose of citric acid increases toxicity in the body which may lead to kidney problems, nerve damage, and radical damage which is a major factor hampering growth of the global citric acid market over the forecast period.
The global citric acid market report has been segmented on the basis of form, application, and region. On the basis of region, into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
North America is a dominant player in the global citric acid market and accounts for highest market share in terms of revenue as compared to that of markets in other regions. This can be attributed to rising demand for citric acid from food & beverage industries, coupled with increasing consumption of convenience food due to busy lifestyle in the region. Market in Europe accounts for second highest revenue share contribution in the global citric acid market followed by markets in Latin America, Asia Pacific, and Middle East & Africa respectively. The market in Asia Pacific is projected to have the fastest growth in terms of revenue, owing to increasing consumption of citric acid in foods, and detergents in the region.
Prominent players in the global market include, Pfizer Inc., Archer Daniels Midland Company, Lyle plc, Shandong Juxian Hongde Citric Acid Co. Ltd., Jungbunzlauer Suisse AG, Weifang Ensign Industry Co., Ltd., Delek Group, Tate & Lyle plc., COFCO Biochemical (Anhui) Co. Ltd., and Laiwu Taihe Biochemistry Co., Ltd.
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