Citric Acid Market

Citric Acid Market witnessed USD 3,070 Million in 2020, growing at a robust CAGR of 3.5% during forecast period.

Introduction of the Citric Acid Market Report

The citric acid refers to organic acid that occurs naturally in citrus fruits. It is produced commercially by the fermentation process from different sources of carbohydrates, including molasses and starch based media. It is most commonly used as food preservatives and flavouring additives.

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Market Dynamic

Key Drivers and Emerging Trends

Rising food industry, growth in the use of food additives in processed foods and increasing demand for safe food & beverage products is expected to drive the growth of the citric acid market size. Additionally, use of citric acid as a preservative, antioxidant, emulsifying agent, chelating agent, and flavouring agent in beverages, bakery, confectionery, soups, sauces, sweet and savoury snacks is further expected to accelerate the market growth. Moreover, citric acid is used to preserve medicines, cleaning products, and cosmetics is expected to provide growth opportunities to the citric acid market share. Furthermore, increasing use of citric acid in insecticides and disinfectants to help destroy bacteria and viruses is stimulating the market growth over the forecast period.

Restraint in the Citric Acid Market

However, adverse effects including swelling, stomach pain, and others due to the excess consumption of citric acid may limit the market growth. In addition, extraction of citrus additives from citrus fruits is highly expensive, which is anticipated to hamper the growth of the market.

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Form – Segment Analysis

Based on the form, the powder form of citric acid is expected to grow prominently over the forecast period owing to its ease of transportation and longer shelf life. Additionally, increasing use of powdered citric acid for removing acne, curing throat infection, softening water, and as cleaning agents is further accelerating the market growth.

Application – Segment Analysis

Based on the application, food and beverage is projected to hold a notable share in the market primarily due to the wide application of citric acid as a flavouring and preserving agent in food and beverage industry. Moreover, citric acid is used in soft drinks and candies to provide a sour and refreshing flavour; in the dairy industry for cheese production and processing; in processed frozen foods for reducing their deterioration rate. This is expected to contribute to the market growth.

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Regional – Segment Analysis:

Asia-Pacific is expected to grow at a notable CAGR over the forecast period primarily due to the growing industries including food & beverages, pharmaceutical, and cosmetics. The growing demand for frozen foods among consumers owing to the demand for ready to eat products is further accelerating the market growth. Moreover, leading companies including COFCO Biochemical (AnHui) Co., Ltd., Paras Chemical Industries, Acuro Organics Limited, Wang Pharmaceuticals and Chemicals operating in Asia-Pacific is further expected to contribute to the market growth.

Top Market Players

Several leading Citric Acid companies operating in the market, include, Cargill, Incorporated, Wang Pharmaceuticals and Chemicals, Archer-Daniels-Midland Company, Tate & Lyle Plc, COFCO Biochemical (AnHui) Co., Ltd., Acuro Organics Limited, Paras Chemical Industries, Weifang Ensign Industry Co., Ltd., Gadot Biochemical Industries Limited, and S.A. Citrique Belge N.V. among others. 

Key Developments: 

• • In 2019, Archer Daniels Midland Company acquired the Ziegler Group, one of the leading European providers of natural citrus flavour ingredients.

Segments covered in the Report:

The global Citric Acid market has been segmented on the basis of form, application, and key regions. Based on form, the market is segmented into liquid and powder. Based on application, the market is segmented into food and beverage, pharmaceutical, personal care, and others. 

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Key questions answered in this research report:

• • At what pace is global Citric Acids market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Citric Acid Market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Citric Acid Market?
  • Which form generated maximum revenues in 2020 and identify the most promising form during the forecast period?
  • What are the various applications of global Citric Acid Market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Citric Acid Market by Form

• • Liquid
  • Powder

Global Citric Acid Market by Application

• • Food and Beverage
  • Bakery
  • Confectionery
  • Dairy
  • Beverages
  • Others
  • Pharmaceutical
  • Personal Care
  • Other

Global Citric Acid Market by Region

• • North America Citric Acid Market (Option 1: As a part of the free 25% customization)
    • By Form
    • By Application
    • US Market All-Up
    • Canada Market All-Up
  • Europe Citric Acid Market (Option 2: As a part of the free 25% customization)
    • By Form
    • By Application
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Citric Acid Market (Option 3: As a part of the free 25% customization)
    • By Form
    • By Application
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Citric Acid Market (Option 4: As a part of the free 25% customization)
    • By Form
    • By Application
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Citric Acid Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Cargill, Incorporated
  • Wang Pharmaceuticals and Chemicals
  • Archer-Daniels-Midland Company
  • Tate & Lyle PLC
  • COFCO Biochemical (AnHui) Co., Ltd.
  • Acuro Organics Limited
  • Paras Chemical Industries
  • Weifang Ensign Industry Co., Ltd.
  • Gadot Biochemical Industries Limited
  • A. Citrique Belge N.V.