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In a global economy heavily reliant on organic acids for myriad applications--from food preservation to cosmetics-- understanding the dynamics that shape the Citric Acid Market is crucial for savvy business executives making strategic decisions. This comprehensive market research report on the Citric Acid Market illuminates key trends and forecasts, dissecting the drivers underpinning the developed and emerging markets.
The Citric Acid Market has witnessed significant expansion, largely driven by the food and beverage sector, which consumed approximately 60% of global citric acid in the recent past. Industries previously overlooked, from detergents and cleansers to pharmaceuticals and cosmetics, are now recognizing the tremendous potential of this biodegradable and non-corrosive compound and contributing to its rising demand. Gain insights into this thriving market, with a focus on the role of increasing urban populations and their demand for ready-to-eat commodities across different regions.
This report goes beyond a standard market analysis to keep you ahead of the curve. Segmentation by types, end-user industries, and regional consumption patterns provides a holistic picture, while exploration of key players in the market, including RZBC Group and TTCA Co., enables strategic competitor analysis. Dive into the details of this globally significant market to anchor your firm's strategies firmly in data-driven research and emerge a leader in your industry.
The global Citric Acid market stood around 2700 thousand tonnes in 2021 and is expected to grow at a CAGR of 4.05% during the forecast period until 2035. In the year 2021, the market showed a significant growth of 4.25% in comparison to 2020 and is expected to grow by 3.50% by 2022.The Global Citric Acid Market Stood Around 2700 Thousand Tonnes in 2021 and is Expected to Grow at a CAGR of 4.05% During the Forecast Period Until 2035
Citric acid is a weak organic acid with the chemical formula C6H8O7. It is a natural preservative and used in foods and beverages for an acidic or sour flavor. Citric acid is produced using molasses, waste feedstock, and fruit peels. It possesses non-toxic, non-corrosive, and biodegradable properties. Citric acid is used as a preservative in cosmetics, detergents, and cleaners. In industrial and chemical processing, citric acid is employed. Citric acid is used as an antioxidant and preservative in a variety of foods, such as soups, mayonnaise, candy, wines, juices, creams, and carbonated beverages. It is also a part of pharmaceuticals and household cleansers.
The market driving factor for the growth of the Citric Acid market is the food and beverage sector. High consumer demand for food preservation products is anticipated to drive the industry's expansion. The food and beverage sector has consumed approximately 60% of the global citric acid in 2021. Citric acid, for instance, is gaining popularity in the detergents and cleansers market because of its non-corrosive, non-toxic, and biodegradable properties. Throughout the projection period, the industry is anticipated to exhibit significant increase which will further swell the Citric Acid demand in the forecast period.
Based on region, Asia Pacific and Europe are the leading consumers across the globe. In 2021, the highest demand was by Asia Pacific region with a market share of about 30%. The demand is expected to further grow in the forecast period due to increasing urban population in these regions, demanding more ready-to-eat commodities in which citric acid works as a preservative. Furthermore, the employment of Citric Acid in carbonated beverages is anticipated to further propel the Citric Acid demand in the forecast period.
Based on type, the global citric acid market is divided into Anhydrous and Monohydrate types. The Anhydrous type is dominating the market due to its chemical stability and shelf-life features.
Based on the end-user industry, the global Citric acid market is segmented into Food & Beverages, Pharmaceuticals, Detergent & Cleaning, Cosmetic & Personal Care, and others. Food & Beverages industry is the dominating as a consumer, with a market share of approximately 60% of the total demand in 2021. Moreover, it is expected that the Detergent & Cleaning industry will experience a surge in the Forecast period -
Major players in the production of Global Citric Acid market are RZBC Group Co., Ltd., TTCA Co., Ltd., Jungbunzlauer, Jiangsu Guoxin Union Energy Co., Ltd, Yixing Xielian Biochemical Co. Ltd., COFCO Biochemical (AnHui) Co., Ltd., Laiwu Taihe Biochemical Co. Ltd., and others.
Years considered for this report:
- Historical Period: 2015- 2021
- Base Year: 2021
- Estimated Year: 2022
- Forecast Period: 2023-2035
Objective of the Study:
- To assess the demand-supply scenario of Citric Acid which covers production, demand and supply of Citric Acid market in the globe.
- To analyse and forecast the market size of Citric Acid
- To classify and forecast Global Citric Acid market based on end-use and regional distribution.
- To examine competitive developments such as expansions, mergers & acquisitions, etc., of Citric Acid market in the globe.
The publisher calculated Citric Acid demand in the globe by analyzing the historical data and demand forecast which was carried out considering the historical extraction and supply and demand of Citric Acid across the globe. The publisher sourced these values from industry experts, and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by the publisher.
Key Target Audience:
- Citric Acid manufacturers and other stakeholders
- Organizations, forums and alliances related to Citric Acid distribution
- Government bodies such as regulating authorities and policy makers
- Market research organizations and consulting companies
Report Scope:
In this report, Global Citric Acid s market has been segmented into following categories, in addition to the industry trends which have also been detailed below:- Market, by Type: Anhydrous and Monohydrate types
- Market, by End-use: Food & Beverages, Pharmaceuticals, Detergent & Cleaning, Cosmetic & Personal Care, and others.
- Market, by Sales Channel: Direct Sale and Indirect Sale
- Market, by Region: North America, Europe, Asia Pacific, Middle East and Africa, and South America.
Available Customizations:
With the given market data, the publisher offers customizations according to a company’s specific needs.Table of Contents
Methodology
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