The citric acid market is projected to witness a CAGR of 4.5% during the forecast period (2022-2027)
The application of citric acid is commonly found in packaged foods and drinks, where it is added to canned and jarred foods to keep them fresh for long periods of time. The outbreak of the COVID-19 pandemic led to a supply-demand mismatch, and consumers across the world kept stocking up their food supplies in order to preserve them. The use of citric acid played a crucial role. Hence, the demand for citric acid throughout the pandemic had been strong.
The broad applicability of citric acid as an acidulant, preservative, antioxidant, buffering, and binding agent in the food and non-food industries is expected to result in its increasing growth over the forecast period. Citric acid is used throughout the dairy industry, in particular, within cheese production and processing. The acid helps create the perfect environment for the stabilization of emulsions, and it prevents fats from separating. It can also be used to adjust the pH of both beer and wine solutions during manufacture.
Europe is the largest market for citric acid globally, attributable to the growing vegan population, which has drastically increased in the region, which further increases the demand for natural food additives and preservatives, like citric acid in the country.
Citric acid is widely utilized as an additive in food and drinks, personal care products, cleansers and detergents, adhesives and sealants, coatings, inks, plastics and polymers, pharmaceutical goods and clinical nutrition, feed and pet food items due to its numerous favorable features. Citric acid's chemical composition and potency are stable for at least five years in its original unopened container. It is used as a preservative, flavoring, and coloring ingredient because of its high shelf life. Consumers are shifting to organic products in order to reduce their chemical consumption as they become more aware of the negative consequences of chemicals used in everyday items. This has resulted in a bright forecast for the citric acid market's growth. Continuous economic expansion, busy lifestyles, increasing urbanization, and rising disposable incomes have all contributed to increased demand for ready-to-drink drinks and processed meals in emerging nations. As a result, emerging markets are likely to be the citric acid market's future growth engine.
The citric aid market is fueled by the increasing demand for citric acid across European countries such as Germany, the United Kingdom, Spain, and Italy. For example, the F&B industry is a key pillar in Germany. Nearly 80 % of agrarian products in Germany are processed by the industry into high-quality food and drinks. There is a high demand among German food and pharma manufacturers for citric acid due to its low toxicity compared to other acidulants used, mainly in the pharmaceutical and food industries. The number of breweries in countries such as the United Kingdom has doubled in recent years. Craft brewers occasionally use additions of citric acid to advance some tartness to Belgian-style witbier. It is further expected to boost the demand for citric acid in the F&B industry in the United Kingdom and in Europe.
The global citric acid market is fragmented and exhibits competitive traits, with the prominence of the key players. The major players include Archer Daniels Midland (ADM), Cargill Inc., Jungbunzlauer Company, COFCO Biochemical, and Gadot Biochemical Industries Ltd. The key global players have a wide geographical reach. Brand awareness also gives them an upper hand, as compared to regional players. The key players are also known to adopt effective production standards and higher operational capabilities, particularly with the design and development of specialized grades of citric acid that have pharmaceutical and food applications.
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The application of citric acid is commonly found in packaged foods and drinks, where it is added to canned and jarred foods to keep them fresh for long periods of time. The outbreak of the COVID-19 pandemic led to a supply-demand mismatch, and consumers across the world kept stocking up their food supplies in order to preserve them. The use of citric acid played a crucial role. Hence, the demand for citric acid throughout the pandemic had been strong.
The broad applicability of citric acid as an acidulant, preservative, antioxidant, buffering, and binding agent in the food and non-food industries is expected to result in its increasing growth over the forecast period. Citric acid is used throughout the dairy industry, in particular, within cheese production and processing. The acid helps create the perfect environment for the stabilization of emulsions, and it prevents fats from separating. It can also be used to adjust the pH of both beer and wine solutions during manufacture.
Europe is the largest market for citric acid globally, attributable to the growing vegan population, which has drastically increased in the region, which further increases the demand for natural food additives and preservatives, like citric acid in the country.
Key Market Trends
Extensive Application Spectrum
Citric acid is widely utilized as an additive in food and drinks, personal care products, cleansers and detergents, adhesives and sealants, coatings, inks, plastics and polymers, pharmaceutical goods and clinical nutrition, feed and pet food items due to its numerous favorable features. Citric acid's chemical composition and potency are stable for at least five years in its original unopened container. It is used as a preservative, flavoring, and coloring ingredient because of its high shelf life. Consumers are shifting to organic products in order to reduce their chemical consumption as they become more aware of the negative consequences of chemicals used in everyday items. This has resulted in a bright forecast for the citric acid market's growth. Continuous economic expansion, busy lifestyles, increasing urbanization, and rising disposable incomes have all contributed to increased demand for ready-to-drink drinks and processed meals in emerging nations. As a result, emerging markets are likely to be the citric acid market's future growth engine.
Europe Dominates the Citric Acid Market
The citric aid market is fueled by the increasing demand for citric acid across European countries such as Germany, the United Kingdom, Spain, and Italy. For example, the F&B industry is a key pillar in Germany. Nearly 80 % of agrarian products in Germany are processed by the industry into high-quality food and drinks. There is a high demand among German food and pharma manufacturers for citric acid due to its low toxicity compared to other acidulants used, mainly in the pharmaceutical and food industries. The number of breweries in countries such as the United Kingdom has doubled in recent years. Craft brewers occasionally use additions of citric acid to advance some tartness to Belgian-style witbier. It is further expected to boost the demand for citric acid in the F&B industry in the United Kingdom and in Europe.
Competitive Landscape
The global citric acid market is fragmented and exhibits competitive traits, with the prominence of the key players. The major players include Archer Daniels Midland (ADM), Cargill Inc., Jungbunzlauer Company, COFCO Biochemical, and Gadot Biochemical Industries Ltd. The key global players have a wide geographical reach. Brand awareness also gives them an upper hand, as compared to regional players. The key players are also known to adopt effective production standards and higher operational capabilities, particularly with the design and development of specialized grades of citric acid that have pharmaceutical and food applications.
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Table of Contents
1 INTRODUCTION
4 MARKET DYNAMICS
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
Companies Mentioned
A selection of companies mentioned in this report includes:
- Jungbunzlauer Suisse AG
- Cargill Incorporated
- Merck KGaA
- Gadot Biochemical Industries
- Archer Daniels Midland Company
- Foodchem International Corporation
- Cofco Biochemical
- Posy Pharmachem Pvt Ltd
- Hawkins Pharmaceutical Group
- Saudi Bio-Acids Company
Methodology
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