Citric Acid Market Overview:
The Citric Acid Market will obtain a valuation of USD 4,205.65 Million and a CAGR of 4.12% in the forecast period of 2023–2030.
The United States stands out as a pivotal market for citric acid, playing a crucial role in the global supply chain of this versatile compound. With its expansive industrial sector, diverse consumer base, and widespread usage across various industries, the US Citric Acid Market demonstrates robust growth potential. From food and beverage manufacturing to pharmaceuticals and cosmetics, citric acid finds extensive application, driving steady demand in the US market. Factors such as technological advancements, shifting consumer preferences towards natural ingredients, and the increasing focus on sustainability further propel the growth trajectory of the citric acid market in the United States.
The tartness enhances the flavors of food items. The acid is an additive in food products that inhibits microbial growth and expands their shelf life. These factors are accelerating the market’s growth rate. The additives demand in the processed food sector is a major market driver. Also, the consumer choice of organic food additives and change in customer tastes has been noticed for years. The usage of phosphate has been banned and replaced by citric acid, which has resulted in market growth.
The consumer’s choice of food and beverage products made with natural flavoring agents promotes market trends. Moreover, the acid’s usage in the pharmaceutical and personal care sectors has accelerated the demand for citric acid-based products. Industrial manufacturers also provide a clean label to meet the consumer demand for safe products within an affordable budget.
Furthermore, the Citric Acid Market demand in preserved food is another key driver for market growth. The acid is massively utilized for the manufacturing of digestive medicines due to its effectiveness. Industrial players play a critical role in the investment of research and development activities for improved and better product development. The above demands will bring higher growth opportunities in the forecast period.
Key Players:
The Citric Acid Market Companies include DM (Archer-Daniels-Midland Company),Cargill, Incorporated,Tate & Lyle,Jungbunzlauer,Citribel nv,RZBC GROUP CO., LTD.,SHANDONG ENSIGN INDUSTRY CO., LTD.,Huangshi Xinghua Biochemical Co.Ltd.,Gadot Biochemical Industries Ltd.
Regional Analysis:
The regional analysis of the Citric Acid Market covers the major regions such as the North American regions, Europe, Asia-Pacific countries, Central and South America, and the Middle East and Africa.
North America and Europe will cover the maximum share together compared to other regions. The Asia-Pacific will obtain a huge CAGR due to the major development and demand in the food and beverage industry. The development of ventures in the food industry, pharmacy, and nutraceuticals with individual consideration will highly contribute to the growth of the regional market. China is the biggest exporter of the citrus extract with a significant market rate. Moreover, the presence of industry verticals, lower cost, and accessibility factors in China is accelerating the growth rate of the Asia-Pacific regional market.
Market Segments:
The Citric Acid Industry is segmented into form, function, and application.
The form segment of the market is categorized into anhydrous and liquid. The function segment is sub-segmented into acidulant, preservative, antioxidant, and flavoring agent.
The application segment of the Citric Acid Market is divided into food & beverages, which further includes bakery & confectionery, sweet & savory snacks, soups, sauces, and dressings, RTE & RTC Meals, and others. The application segment also has pharmaceuticals & nutraceuticals, personal care, and others.
Industry News:
In July 2022, Spartan chemical rolled out X-Effect Restroom Cleaner, which is primarily made with citric acid with a lavender fragrance. X-Effect Restroom Cleanser is accepted as an effective solution to remove microbes like viruses, bacteria, and also rine and hard water stains in the restroom and leaves the room with a lavender fragrance. X-Effect Restroom Cleaner with Citric Acid is a ready-to-use disinfectant that kills odor-causing germs.
Related Reports:
Honey Market Research Report Information by Type (Alfalfa, Wildflower, Buckwheat, Acacia and Clover), By Application (Food & Beverage, Personal Care Products and Pharmaceuticals), By Packaging (Bottle, Jar, Tube and Tub) and By Region (North America, Europe, Asia-Pacific, and Rest of The World) - Forecast Till 2030
Marktforschungsbericht für aromatisierten Tee: Informationen nach Typ (Schwarzer Tee, grüner Tee, weißer Tee und andere), nach Geschmack (Früchte, Kräuter, Gewürze und andere), nach Vertriebskanal (im Geschäft und nicht im Geschäft) und Region - Prognose bis 2027
エジプト蜂蜜市場調査レポート：種類別の情報（クローバー蜂蜜、柑橘類蜂蜜、綿蜂蜜、ワイルドフラワー蜂蜜、その他）アプリケーション（食品および飲料、パーソナルケア製品、医薬品、その他）包装、地域別（エジプト）— 2027年までの予測
About Market Research Future:
Market Research Future (MRFR) is a world-renowned market research company that offers a wide range of services, complete with accurate and precise analysis about diverse markets, sub-markets and target consumers. Our approach is a combination of extensive information and multiple data sources that help provide an exhaustive comprehension about the latest major developments to the client, in addition to future events and what measures and decisions to take on the basis of the same.
Our fast-emerging market research firm is armed with an adept research analysts’ team that focuses on gathering useful data and analytics in terms of economic and technological advances. Our proficient analysts conduct industrial visits in a bid to achieve reliable and accurate information from established market participants. One of our foremost objectives is to keep the client well-versed with all the lucrative opportunities as well as challenges surrounding various global markets. We offer step-by-step guidance to our clients, through consulting and strategic services, enabling them to arrive at a practical and effective decision.
Contact Us:
Market Research Future (part of Wantstats Research and Media Private Limited),
99 Hudson Street, 5Th Floor,
New York, New York 10013
United States of America
+1 628 258 0071
Arabic
Français
Español
Português
Deutsch
Türkçe
Dutch
Italiano
Russian
Romaian