Global Citric Acid Market Set to Grow at Healthy CAGR of 5.0 % by 2026

Posted by swamiv on November 18th, 2019

Global Citric Acid Market, By Form (Liquid, Powder), By Function (Acidulant, Preservative, Anti-Oxidant, Binding Agent, Others), Application (Food & Beverages, Pharmaceuticals, Others)

Market Analysis: Global Citric Acid Market

The Citric Acid Market is growing significantly, due to the rising applications of it in a number of industries. Due to its cost effective nature, the market is set to witness a CAGR of 5% in the forecast period of 2018-2025, rising from its initial estimated value of USD 2.9 billion in 2017 to an estimated value of USD 4.3 billion by 2025.

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Market Definition: Global Citric Acid Market

Citric Acid is an organic acid that occurs naturally in citrus fruits, as well as being manufactured on a global scale. Its widespread applications across a different number of industries make it one of the largest numbers of acid to be manufactured every year globally.

The market is witnessing high market growth due to the application of citric acid as cleanser, due to the reduced use of phosphate as a cleanser.

Europe had the largest market share in 2017, followed by North America.

Market Drivers:

  •          Wide range of applications of citric acid is significantly driving the market growth of the industry
  •          Due to its capacity to enhance flavours and increase the overall shelf life by working as an inhibitor for microorganisms, the market is expected to witness a significant rise in its uses and increase the market growth

Market Restraints:

  •          Inappropriate amount of citric acid consumption causes a number of side effects, regulating the amount of citric acid consumption is proving to be a roadblock in Citric Acid Market growth
  •          The inclusion of citric acid in a number of infant supplements, makes the regulatory authorities very stringent on their policies about the amount of citric acid involved, therefore this proves to be a major restraint in the market growth


Segmentation: Global Citric Acid Market

  •                      By Form

o    Liquid

o    Powder

o    Anhydrous Citric Acid

o    Monohydrate Citric Acid

  •                      By Function

o    Acidulant

o    Preservative

o    Anti-Oxidant

o    Binding Agent

o    Others

  •                      By Application

o    Food & Beverages

o    Confectionaries

o    Convenience Food

o    Dairy Products

o    Pharmaceuticals

o    Others

o    Detergents & Cleansers

o    Animal Feed

o    Textile

Competitive Analysis: Global Citric Acid Market

The Global Citric Acid Market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of Citric Acid Market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.

In December 2017, Jungbunzlauer Suisse AG, announced that it will construct a new citric acid plant in Austria

In April 2015, Cargill Incorporated began the investment procedure to expand its citric acid manufacturing plant in Uberlandia, Brazil

Key Market Competitors: Global Citric Acid Market

Few of the key competitors currently working in the Citric Acid Market are Archer Daniels Midland Company, Cargill Incorporated, Tate & Lyle, Jungbunzlauer Suisse AG, COFCO, W. Ulrich GmbH, Atlantic Chemicals Trading GmbH, Jebsen & Jessen (SEA), CLEAN srl, AGREMA Poland Sp. z o.o., Itoil OÜ, EluOecolo & Sitodi, AURIMEX AG, Matco nv, Foodchem International Corporation, Chemequal, HUANGSHI XINGHUA BIOCHEMICAL CO. LTD., RZBC GROUP, Weifang Ensign Industry Co. Ltd., S.A. Citrique Belge N.V., Delek Group, Pfizer Inc., Kenko Corporation, Metagenics Inc., MP Biomedicals LLC., and DuPont Nutrition & Health.

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Joined: October 30th, 2019
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