Citric Acid Market is projected to reach a value of overUSD 5.1 billion by 2027 at aCAGR of around 5.4%.
Citric acid Market: Summary
The Global Citric Acid Market is projected to reach a value of over USD 5.1 billion by 2027 at a CAGR of around 5.4%.
Citric Acid is one of the most preferred weak organic acid used as an acidulant, preservative, emulsifier, flavorant, sequestrant and buffering agent. Naturally, it is found in the lemons, lime, oranges, grapefruit and other citrus fruits. Lemons and limes have high concentrations of the acid, it can constitute as much as 8% of the dry weight of these fruits. In food and beverage, citric acid is used as a natural preservative in processed food & beverages. It is also used as flavoring agents, stabilizer, anti-oxidant in a diary, processed and canned foods for regulating acidity, pH, temperature, and taste of the perishable food items. Also, it has gained popularity in cosmetics, nutraceutical, pharmaceutical, cleaning products, and personal care products.
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Citric acid Market: Drivers & Challenges
- Rising Demand from Food and Beverage industry
Food and beverage is one of the prominent application areas of the citric acid owing to its extensive application in the manufacturing and processing of the jams, jellies, powdered beverages, fruit-based drinks, cheese processing, frozen foods, candies, etc. to boost the flavor, preserve the shelf life, pH, and acts as a stabilizer. Use of citric acid as an acidulant, preservative, pH regulator, stabilizer, taste enhancer is creating higher demand across the food and beverage industry. Growing global food demand along with higher preference to the processed and ready to eat/cook/drink food products, the need for the flavoring agents such as citric acid is on a constant rise. Rise in disposable income and busier lifestyle creates a higher affinity to the readily cooked products, pushes the growth of the citric acid.
- Availability of Substitute
The citric acid market may face hindrance owing to availability of substitutes such as lactic acid, tartaric acid and malic acid, which are used in food and beverage, pharmaceutical, skin and hair care products to enhance taste, increase shelf life, balance pH, and other purpose. For instance, tartaric acid is used in personal care products as a pH stabilizer. Due to this, these acids as an alternative to the citric acid in various application areas, which in turn, hampers the market growth.
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Citric acid Market: Key Segments
- Segmentation based on source: Natural and Synthetic
- Segmentation based on form: Powdered and Liquid
- Segmentation based on application: Food and Beverages, Cosmetic & Personal Care, Pharmaceutical, Industrial Processes and Others
- Segmentation based on region covers: North America, Asia-Pacific, Europe, Middle East & Africa and South America, with individual country-level analysis.
Key Companies Covered
- ADM (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- Cargill, Incorporated
- Tate & Lyle
- Jungbunzlauer Suisse AG
- Foodchem International Corporation
- Weifang Ensign Industry Co.,Ltd
- S.A. Citrique Belge N.V.
- HUANGSHI XINGHUA BIOCHEMICAL CO.LTD.
- RZBC GROUP
- Other Key Companies
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Citric acid Market: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Citric Acid Market, by Source
Citric Acid Market, by Form
Citric Acid Market, by Application
- Food and Beverages
- Cosmetic & Personal Care
- Industrial Processes
Citric Acid Market, by Region
- North America
- South Korea
- Rest of Asia-Pacific
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Rest of South America
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Table of Content
2 Research Design & Scope
3 Executive Summary
4 Market Dynamics
5 Industry Trends — Porters Five Forces Analysis
6 GLOBAL CITRIC ACID MARKET BY SOURCE, Market Size in USD Million and Volume in Kiloton (2019–2027)
7 GLOBAL CITRIC ACID MARKET BY FORM, Market Size in USD Million and Volume in Kiloton (2019–2027)
8 GLOBAL CITRIC ACID MARKET BY APPLICATION, Market Size in USD Million and Volume in Kiloton (2019–2027)
9 GLOBAL CITRIC ACID MARKET BY REGION, Market Size in USD Million and Volume in Kiloton (2019–2027)
10 Competitive Landscape
11 Company Profiles
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