The Asia Pacific Citric Acid Market would witness market growth of 4.3% CAGR during the forecast period (2023-2030). In the year 2021, the Asia Pacific market's volume surged to 1,145.8 Kilo Tonnes, showcasing a growth of 3.4% (2019-2022).
Its primary application lies in the food and beverage industry. It is a natural acidulant, imparting a tangy flavor to various products. From carbonated drinks and fruit-flavored beverages to jams, jellies, and confectionery, it enhances taste and preservatives and contributes to the overall quality of processed foods. The pharmaceutical sector utilizes this acid to formulate medicines, particularly effervescent tablets. Its ability to react with bicarbonates to release carbon dioxide makes it a key ingredient in effervescent formulations, providing a palatable and easily absorbable form for certain medications.
Due to its exfoliating and antioxidant belongings, it finds applications in the cosmetics and personal care sector. It is commonly included in skincare products, shampoos, and conditioners to regulate acidity and enhance product stability. Its chelating properties make it valuable in household cleaning products, especially those designed to remove mineral deposits. Its eco-friendly nature has contributed to its popularity in various cleaning solutions. Industries such as textiles, photography, and the metalworking sector leverage citric acid for dyeing and metal cleaning as a rust inhibitor. Its versatility extends its utility to diverse industrial applications.
The Asia Pacific region is home to a large and rapidly growing population. According to Invest India, the pharmaceutical industry in India is valued at $50 Bn in 2023. India is a prominent pharmaceutical exporter, serving more than two hundred countries with its pharmaceutical exports. India provides more than 50% of Africa's generic demand, approximately 40% in the United States, and 25% of all medication in the United Kingdom. It can contribute to taste-masking in pediatric formulations, making medications more palatable for children. With an emphasis on developing child-friendly drug formulations, the pharmaceutical industry in India may increase the use of citric in this application. Therefore, the factors mentioned above will propel the market growth in this region.
The China market dominated the Asia Pacific Citric Acid Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $477.3 Million by 2030. The Japan market is registering a CAGR of 3.6% during (2023 - 2030). Additionally, The India market would showcase a CAGR of 5% during (2023 - 2030).
Based on End-use, the market is segmented into Packaging, Consumer Goods, Automotive, Agriculture, and Textiles & Others. Based on Application, the market is segmented into Bottle, Films, Fibers, Seed Coating, Medical Implants, Vehicle Components, and Others. Based on Product, the market is segmented into Biodegradable Polyesters, Bio-PE, Bio-PET, Polylactic Acid (PLA), Polyhydroxyalkanoate (PHA), and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Its primary application lies in the food and beverage industry. It is a natural acidulant, imparting a tangy flavor to various products. From carbonated drinks and fruit-flavored beverages to jams, jellies, and confectionery, it enhances taste and preservatives and contributes to the overall quality of processed foods. The pharmaceutical sector utilizes this acid to formulate medicines, particularly effervescent tablets. Its ability to react with bicarbonates to release carbon dioxide makes it a key ingredient in effervescent formulations, providing a palatable and easily absorbable form for certain medications.
Due to its exfoliating and antioxidant belongings, it finds applications in the cosmetics and personal care sector. It is commonly included in skincare products, shampoos, and conditioners to regulate acidity and enhance product stability. Its chelating properties make it valuable in household cleaning products, especially those designed to remove mineral deposits. Its eco-friendly nature has contributed to its popularity in various cleaning solutions. Industries such as textiles, photography, and the metalworking sector leverage citric acid for dyeing and metal cleaning as a rust inhibitor. Its versatility extends its utility to diverse industrial applications.
The Asia Pacific region is home to a large and rapidly growing population. According to Invest India, the pharmaceutical industry in India is valued at $50 Bn in 2023. India is a prominent pharmaceutical exporter, serving more than two hundred countries with its pharmaceutical exports. India provides more than 50% of Africa's generic demand, approximately 40% in the United States, and 25% of all medication in the United Kingdom. It can contribute to taste-masking in pediatric formulations, making medications more palatable for children. With an emphasis on developing child-friendly drug formulations, the pharmaceutical industry in India may increase the use of citric in this application. Therefore, the factors mentioned above will propel the market growth in this region.
The China market dominated the Asia Pacific Citric Acid Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $477.3 Million by 2030. The Japan market is registering a CAGR of 3.6% during (2023 - 2030). Additionally, The India market would showcase a CAGR of 5% during (2023 - 2030).
Based on End-use, the market is segmented into Packaging, Consumer Goods, Automotive, Agriculture, and Textiles & Others. Based on Application, the market is segmented into Bottle, Films, Fibers, Seed Coating, Medical Implants, Vehicle Components, and Others. Based on Product, the market is segmented into Biodegradable Polyesters, Bio-PE, Bio-PET, Polylactic Acid (PLA), Polyhydroxyalkanoate (PHA), and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
List of Key Companies Profiled
- Pfizer, Inc.
- Tate & Lyle Plc.
- Cargill, Incorporated
- Archer Daniels Midland Company
- Jungbunzlauer Suisse AG
- HUANGSHI XINGHUA BIOCHEMICAL CO.LTD.
- RZBC Group CO., LTD.
- Kenko Corporation
- Gadot Biochemical Industries Ltd.
- Citribel N.V.
Market Report Segmentation
By Form (Volume, Kilo Tonnes, USD Billion, 2019-2030)- Powder
- Liquid
- Food & Beverages
- Pharmaceutical
- Others
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Asia Pacific Citric Acid Market, By Form
Chapter 5. Asia Pacific Citric Acid Market, By Application
Chapter 6. Asia Pacific Citric Acid Market, By Country
Chapter 7. Company Profiles
Companies Mentioned
- Pfizer, Inc.
- Tate & Lyle Plc.
- Cargill, Incorporated
- Archer Daniels Midland Company
- Jungbunzlauer Suisse AG
- HUANGSHI XINGHUA BIOCHEMICAL CO.LTD.
- RZBC Group CO., LTD.
- Kenko Corporation
- Gadot Biochemical Industries Ltd.
- Citribel N.V.
Methodology
LOADING...
