NEWS: Citric Acid Market — Global Industry Analysis and Forecast 2020 to 2027

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.

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.

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.

Citric acid Market: Report Scope

The report on the Citric acid market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.

Report FeaturesSpecificsHistorical/Estimated/Forecasted Market Size Years2019–2027Base Year for Market Calculation2019Forecasted Period2020–2027 (2020 estimated year, forecasted up to 2027)Measured UnitsValue (USD Million) Volume (Kiloton)Segments IncludedSource, Form and ApplicationRegional CoverageNorth America, Asia-Pacific, Europe, Middle East & Africa, South America

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

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

Key Questions Answered By The Report

  • What are the prominent developments affecting the market worldwide and its growth?
  • What will be the impact of the developments in the market on the industry and on the market players in the future?
  • What are the evolving variations of the market globally?
  • What are the evolving functions of the market globally?
  • What are the prominent aspects that will affect market growth globally during the study period?
  • Who are the key players operating in the market across the globe?
  • How are the key players leveraging in the present market scenario worldwide?

Report Audience

  • Citric acid Market Providers
  • Citric acid Market Solution and Services Suppliers, Distributors and Dealers
  • End-Users of Varied Segments of Citric acid Market
  • Government Bodies and Intellectual Institutions
  • Associations and Industrial Organizations
  • Research & Consulting Service Providers
  • Research & Development Organizations
  • Investment Banks & Private Equity Firms

60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE CITRIC ACID MARKET STUDY

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Data Bridge set forth itself as an unconventional and neoteric Market research and consulting firm with unparalleled level of resilience and integrated approach

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DataBridge Market Research

DataBridge Market Research

Data Bridge set forth itself as an unconventional and neoteric Market research and consulting firm with unparalleled level of resilience and integrated approach

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