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

Market Driver:

  • 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.

Market Restraint:

  • 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
  • COFCO
  • 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

  • Natural
  • Synthetic

Citric Acid Market, by Form

  • Powder
  • Liquid

Citric Acid Market, by Application

  • Food and Beverages
  • Cosmetic & Personal Care
  • Pharmaceutical
  • Industrial Processes
  • Others

Citric Acid Market, by Region

  • North America
  • US
  • Canada
  • Mexico
  • Asia-Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia-Pacific
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Rest of Europe
  • Middle East & Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East & Africa
  • South America
  • Brazil
  • Argentina
  • Rest of South America

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Table of Content

1 Introduction

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

12 Appendix

About Forencis Research

Forencis Research is a B2B market research, intelligence and advisory firm engaging in market research and consulting services across leading industries, globally. Our robust and meticulous research team provides high growth and niche syndicated reports, customized reports and consulting reports to the diverse global fortune clientele and intellectual institutions. Forencis Research database is a constantly evolving pool of reports and white paper studies which helps companies to foster accelerated revenue growth in global and regional markets. Forencis Research delivers market research and consulting reports on high growth markets to help companies dominate their competition and set themselves apart by attaining increased revenue growth. To enable exclusive insights around the target market, Forencis Research employs robust research Methodology & Design which includes data acquisition, data synthesis and data correlation, through Primary and Secondary Research. Through the obtained data, Top-down and bottom-up methods are exercised to attain and verify data sanity within the entire market. This market data is yet again correlated with Forencis Research’s internal database before presenting it in any of our final publications. These methods of data correlation and amalgamation benefit us to put forward accurate market estimates enabling our clients to transform their business, markets and most importantly their “REVENUES”.

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