Global Citric Acid Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
MarketResearch.biz delivers in-depth insights on the global citric acid market in its upcoming report titled, “Global Citric Acid Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027”. The global citric acid market is estimated to register a CAGR of X.X% in terms of value during forecast period 2018–2027. The report offers in-depth insights, revenue details, and other vital information regarding the global citric acid market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report offers insightful and detailed information regarding the various key players operating in the global citric acid market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global citric acid market report has been segmented on the basis of form, application, and region.
Citric acid is a weak organic acid that is produced as a white crystalline powder. It is a natural food preservative that is also used to add an acidic, or sour taste to foods and soft drinks. Citric acid occurs naturally in fruits and vegetables such as lemons, limes, etc., which can also be used as an environmentally benign cleaning agent.
Citric acid is used in various end-use applications such as animal feed, food & beverages, metal finishing, etc. which is a key factor driving the growth of the global citric acid market. In addition, rising demand for ready-to-eat foods, coupled with citric acid being used in cosmetics, toiletries, and pharmaceuticals are major factors expected to fuel growth to the global citric acid market over the forecast period. Moreover, increasing use of citric acid in dietary supplements to enhance flavours is another major factor anticipated to boost growth for the global citric acid market to a significant extent.
However, regular consumption of citric acid causes vomiting, loss of appetite, and diarrhoea which is a major factor restraining the growth of the global citric acid market. In addition, high dose of citric acid increases toxicity in the body which may lead to kidney problems, nerve damage, and radical damage which is a major factor hampering the growth of the global citric acid market over the forecast period.
North America is a dominant player in the global citric acid market and accounts for highest market share in terms of revenue as compared to that of markets in other regions. This can be attributed to rising demand for citric acid from food & beverage industries, coupled with increasing consumption of convenience food due to busy lifestyle in the region. Market in Europe accounts for second highest revenue share contribution in the global citric acid market followed by markets in Latin America, Asia Pacific, and the Middle East & Africa respectively. The market in Asia Pacific is projected to have the fastest growth in terms of revenue, owing to increasing consumption of citric acid in foods, and detergents in the region.
Global Citric Acid Market Segmentation:
Global citric acid market segmentation by form:
Global citric acid market segmentation by application:
Global citric acid market segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Pfizer Inc.
- Archer Daniels Midland Company
- Lyle plc
- Shandong Juxian Hongde Citric Acid Co. Ltd.
- Jungbunzlauer Suisse AG
- Weifang Ensign Industry Co., Ltd.
- Delek Group
- Tate & Lyle plc.
- COFCO Biochemical (Anhui) Co. Ltd.
- Laiwu Taihe Biochemistry Co., Ltd.
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