The new report by Expert Market Research titled, ‘Global Citric Acid Market Price, Size, Trend, Analysis, Report and Forecast 2022-2027’, gives an in-depth analysis of the global citric acid market, assessing the market based on its segments like forms, applications, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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Citric Acid Market Share, Size, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2017-2027)
• Historical Market Volume (2020): USD 2.39 Million Tons
• Forecast CAGR (2022-2027): 4.0%
• Forecast Market Volume (2026): 2.91 Million Tons
| Report Attribute | Details |
| Historical Period | 2017-2021 |
| Forecast Period | 2022-2027 |
| Base Year | 2020 |
| Market Size in 2020 | 2.39 million tons |
| Volume Forecast in 2026 | 2.91 million tons |
| Growth Rate CAGR | 4.0% |
| Major Players | Archer Daniels Midland Company, Cargill, Incorporated, Tate & Lyle, Jungbunzlauer Suisse AG, COFCO and Others |
The citric acid market is being driven by the increasing demand for citric acid-based beverages owing to the great taste and refreshing properties. The compound is extensively utilised for packaging foods to preserve the nutritional content. Citric acid exhibits antioxidant properties, which makes it ideal for pharmaceutical preparations. This is another invigorating factor driving the growth of the market.
Furthermore, the increasing demand for citric acid for the production of personal care and cosmetics products is likely to propel the market growth in the coming years. In terms of region, the Asia Pacific region accounts for a significant share in the market owing to the large consumer base and rapid urbanisation.
Citric Acid Industry Definition and Major Segments
Citric acid is defined as a type of acid which is found naturally in citrus fruits, such as lemon, orange, and grape, among others. The compound is odourless and colourless and is predominantly used in preserving and flavouring. The taste of this acid is sour and it is white crystalline solid in appearance.
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On the basis of form, the market can be segmented into:
• Liquid
• Anhydrous
The significant applications of the product include:
• Food and Beverages
• Household Detergents and Cleaners
• Pharmaceuticals
• Others
The regional markets for citric acid include:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Citric Acid Market Trends
The key trends in the citric acid market include the thriving e-commerce industry and beverage delivery applications, which are propelling the sales of downstream products of citric acid. The market is anticipated to be bolstered by the increasing purchasing power of consumers.
Meanwhile, the growing research and development activities in the pharmaceutical industry are anticipated to accelerate the demand for citric acid owing to the increasing cases of chronic diseases. Furthermore, the increasing application of the product in household detergents and cleaners is likely to be a major trend in the market.
Key Market Players
The major players in the Citric Acid market include:
- Archer Daniels Midland Company
- Cargill, Incorporated
- Tate & Lyle
- Jungbunzlauer Suisse AG
- COFCO
- Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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EMR customises syndicated reports according to clients’ requirements and expectations. The company is active across over 15 prominent industry domains, including food and beverages, chemicals and materials, technology and media, consumer goods, packaging, agriculture, and pharmaceuticals, among others.
Over 3000 EMR consultants and more than 100 analysts work very hard to ensure that clients get only the most updated, relevant, accurate and actionable industry intelligence so that they may formulate informed, effective and intelligent business strategies and ensure their leadership in the market.
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