The global potassium citrate market was valued at USD 629.23 million in 2016 and is expected to reach USD 797.65 million by 2023, at a CAGR of 3.70% during the forecast period. Potassium citrate is a potassium salt of citric acid with the molecular formula. It is a white, hygroscopic crystalline powder. It is odorless with a saline taste. Potassium is an essential mineral for the maintenance of total body fluid volume, acid and electrolyte balance, and normal cell function.
Sodium Reduction Market Relies Heavily on Potassium Salts
Potassium citrate is mostly used as an effective substitute for sodium citrate. Potassium citrate is used in foods whose sodium content has been reduced. Consumers who have a high sodium, low potassium diet are particularly prone to heart attack. Potassium citrate salt can also be used in place of sodium bicarbonate and potassium chloride in oral rehydration solution.
The restraining factor for the global potassium citrate market is the possible risk of side effects caused by the consumption of potassium-based salts. High consumption of potassium citrate may cause some side effects related to metabolism, kidney failure, Addison's diseases, and gastrointestinal functions. Consumers who use supplements should take into account and understand the level of potassium a human body requires.
Rapid Growth of End-User Industries
Potassium citrate finds myriad of applications across the diverse set of industries. Right from pharmaceutical and personal care to the most prominent processed food industries, all of have been experiencing huge demands for potassium citrate owing to its superior functionality. In pharmaceutical industries, potassium citrate is used to treat urinary calculi (kidney stones). It is also used as an alkalizing agent in the treatment of mild urinary tract infections, such as cystitis. It also finds an increasing application in baby products, make-up, bath products, soaps and detergents, hair dyes and colors, and hair and skin care products. It acts as a cleansing agent in various other industries.
Processed Food Industry – Prime Application Area of Potassium Citrate.
The market for potassium citrate has high potential for growth in the near future due to its wide range of applications in various industries. Globally, the highest applications for potassium citrate is in the food & beverage industry. It is primarily utilized as an acidity regulator and preservative in processed foods, such as fish products, sugars and syrups, salt substitutes, hot beverages, dairy-based drinks, infant formulas, alcoholic beverages, and water-based beverages. Potassium citrate is commonly used as a flavor enhancer, particularly for processed foods and commercially available citrus beverages.
Asia-Pacific Drives the Market Growth
Asia-Pacific accounted for the largest market share in 2016 and is expected to have the highest CAGR during the forecast period (2018 - 2023). Asia-pacific accounts for the largest share of the global potassium citrate market. The lack of very stringent food regulations acts as a driver for manufactures to use potassium citrate in various applications. The region accounts for a significant share of the global export of potassium citrate. China is the largest producer and exporter in the region.
- November 2017: Cargill announced that it is investing USD 240 million in India over the next 5 years. These new investments will add to the food processing and agriculture industries including the production of potassium citrate of the country.
- October 2017: Tate & Lyle announced major expansion of its citric acid, potassium citrate and malto-dextrin capacity at its facility in Slovakia. This major expansion of food grade products is expected to be completed in 2019.
The major players include: CARGILL INC., TATE & LYLE, ADM, JUNGBUNZLAUER SUISSE AG, COFCO BIOCHEMICAL, AMERICAN TARTARIC PRODUCTS, HUANGSHI XINGHUA BIOCHEMICAL, GADOT BIOCHEMICAL INDUSTRIES, NIRAN, JUXIAN HONGDE CITRIC ACID CO. LTD, THAI CITRIC ACID, POSY PHARMACHEM PVT LTD., FBC INDUSTRIES INC., RZBC GROUP CO. LTD., amongst others.
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1.1 Key Deliverables of the Study
1.2 Study Assumptions
1.3 Market Definition
2. Research Approach & Methodology
3. Market Overview
4. Market Dynamics
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. Market Segmentation
5.1 By Grade Type
5.1.1 Food Grade
5.1.2 Industrial Grade
5.1.3 Pharmaceuticals Grade
5.2 By Application
5.2.1 Food and Beverage
5.2.2 Industrial Uses
5.3 By Geography
5.3.1 North America
5.3.4 South America
188.8.131.52 South Africa
6. Competitive Landscape
6.1 Most Adopted Strategies
6.2 Most Active Companies
6.3 Market Share Analysis
7. Company Profiles
7.1 Cargill Inc.
7.2 Tate & Lyle
7.4 Jungbunzlauer Suisse Ag
7.5 Cofco Biochemical
7.6 American Tartaric Products
7.7 Huangshi Xinghua Biochemical
7.8 Gadot Biochemical Industries
7.10 Juxian Hongde Citric Acid Co. Ltd
7.11 Thai Citric Acid
7.12 Posy Pharmachem Pvt Ltd.
7.13 Fbc Industries Inc.
7.14 Rzbc Group Co. Ltd.
- Cargill Inc.
- Tate & Lyle
- Jungbunzlauer Suisse Ag
- Cofco Biochemical
- American Tartaric Products
- Huangshi Xinghua Biochemical
- Gadot Biochemical Industries
- Juxian Hongde Citric Acid Co. Ltd
- Thai Citric Acid
- Posy Pharmachem Pvt Ltd.
- Fbc Industries Inc.
- Rzbc Group Co. Ltd.