New York, US, April 10, 2023 (GLOBE NEWSWIRE) -- Citric Acid Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), Citric Acid Market Information by Form, Application, Function, and Region - Forecast till 2030”, Citric Acid Market could thrive at a rate of 5.78% between 2022 and 2030. The market size will be reaching around USD 6.28 Billion by the end of the year 2030
Market Synopsis
Lemon and other citrus fruit juice contain the weak organic acid known as citric acid. The food and beverage industry accounts for over 75% of the world's citric acid use, mostly as an acidulant in carbonated soft drinks. Moreover, it is utilized to regulate pH levels, induce sourness, and inhibit the growth of bacteria. Citric acid is a co-builder in home detergents and cleansers, primarily in concentrated liquid detergents with zeolite builder systems. Citric acid is becoming more popular among detergent manufacturers because it offers a less hazardous formulation to water systems than phosphates.
During the forecast period, the market is anticipated to benefit from the rising demand for chemicals in the pharmaceutical industry to produce digestive treatments. Rismotivatesances with well-known juggernauts like Cargill, Incorporated, Tate & Lyle PLC, and Jungbunzlauer Suisse AG motivate young businesses to expand their footprint across geographies.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | 2030: USD 6.28 Billion |
| CAGR | 5.78% CAGR (2022-2030) |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Form, Function, Application, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Increasing demand due to utilization for therapeutic purposes and beauty care products |
Market Competitive Landscape:
The affluent companies in the Citric Acid industry include:
- Tate & Lyle PLC (UK)
- Cofco Biochemical (Anhui)
- Jungbunzlauer Suisse AG (Switzerland)
- S.A. Citrique Belge N.V. (Belgium)
- Cargill
- RZBC Group Co. Ltd. (China)
- Incorporated (US)
- Archer Daniels Midland Company (US) (China)
- Weifang Ensign Industry Co. Ltd. (China)
- Huangshi Xinghua Biochemical Co.Ltd (China)
- Gadot Biochemical Industries Ltd. (Israel)
November 2022
Launched by Gadot Biochemical Industries is Cal2Mg. Cal2Mg is a mixture of calcium and magnesium citrate that was put through an unusual granulation process by adding a binder.
Market USP Covered:
Market Drivers:
Citric acid demand in the food industry is anticipated to rise as consumer preference for ready-to-drink beverages and processed foods grows. Citric acid has a wide range of applications in the food industry. This chemical promotes ripening, improves flavor, and serves as a preservative. Since citric acid is a powder, it is added to dry foods like seasoning salts, flavor powders, and crispy snacks when a sour flavor is needed. Approximately 50% of the world's citric acid production is utilized to enhance the flavor of beverages. As a result, they help to preserve the product's quality by preserving its flavor and aroma throughout time. Citric acid is a preservative for food and prevents oxidation because of its acidic pH, retaining food's color. Citric acid is frequently added to preserve jams, jellies, confectionery, canned goods, and meat items because germs cannot survive in an acidic environment.
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Market Restraints:
At small doses, citric acid anhydrous is normally safe, but in big doses, it can have extremely dangerous consequences. Most of the time, supplements and drugs that include citric acid are linked to its adverse effects. These include allergic reactions and inflammatory signs. Also, researchers discovered that consuming too much citric acid may result in inflammation-related symptoms such as edema, stiffness, and stomach pain. Throughout the projection period, these factors are anticipated to limit market revenue growth.
COVID 19 Analysis
The issue with the COVID-19 pandemic is significantly hurting all markets. Due to the abrupt COVID-19 pandemic breakout, strict lockdown regulations were implemented in a few nations, which caused shortages in various end-use industries, including food and drink, cleaning supplies, cement, sealants, and other materials. Because of the Covid-19 outbreak, usage has increased significantly as consumers seek products modified for health during this time. Sends from the Middle East and Africa are likely to find additional prospects inside Germany. In the post-Covid era, it is anticipated that the global market for citric acid will grow rapidly.
Market Segmentation
By Form
The forms in the market include Anhydrous and Liquid.
By Application
Acidulant, antioxidant, preservative, flavouring agent have been listed as the top industry applications in the study.
By Function
Food & beverages, pharmaceuticals & nutraceuticals, personal care, and others are functions available in the worldwide market.
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Regional Insights
North America clinches the leading position in the market; the market's rapid revenue growth rate is related to the rising dominance of key competitors like Cargill, Inc.,DuPont,
Pfizer, Inc., and ADM, among others. Citric acid is increasingly used as a supplement to increase the bioavailability of minerals, enhancing food absorption since digestive disorders such as Gastroesophageal Reflux Disease (GERD), chronic diarrhea, and chronic constipation have increased in the United States.
The Asia Pacific market is anticipated to have substantial revenue growth over the forecast period. Rapid urbanization and shifting lifestyles in nations like China, India, and Japan have fueled global market expansion. Citric acids have become more widely used for food preservation as people's preference for packaged goods has expanded. Concerns about food safety and the widespread use of processed meals and ready-to-drink beverages in nations like China and India would help the region's citric acid market grow.
The European market is anticipated to post a strong revenue CAGR throughout the projection period. The market's rapid revenue growth rate is linked to the rising number of vegans in nations like the U.K. and France. Because they are vegan-friendly and naturally occur in fruits or fungi, citric acids are popular among vegans.
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