Nov 25, 2022   SOURCE: BusinessWire

Worldwide Citric Acid Industry to 2027 - Featuring Archer Daniels Midland, Cargill, RZBC and Weifang Ensign Industry Among Others - ResearchAndMarkets.com

The "Citric Acid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.

The global citric acid market reached a volume of 2.7 million Tons in 2021. Looking forward, the market is projected to reach 3.2 million Tons by 2027, exhibiting a CAGR of 3.3% during 2022-2027.

Keeping in mind the uncertainties of COVID-19, the analyst is continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different End-use industries. These insights are included in the report as a major market contributor.

Citric acid is a weak organic acid found in the juice of lemons and other citrus fruits. Around 75% of the global consumption of citric acid is accounted by the food and beverages industry, primarily as an acidulant in carbonated soft drinks.

In addition to this, it is used to control the growth of microorganisms, for pH adjustment and inducing sourness. In household detergents and cleaners, citric acid is utilized as a co-builder, mainly in concentrated liquid detergents with zeolite builder systems. As citric acid provides a less harmful formulation than phosphates in water systems, it is gaining traction among detergent manufacturers.

Due to its various advantageous properties, citric acid is widely used as an additive in food and beverages, personal care products, cleaners and detergents, adhesives and sealants, coatings, inks, plastics and polymers, pharmaceutical products and clinical nutrition, feed and pet food items.

The chemical makeup and potency of citric acid remains stable for at least five years in its original closed container. Owing to its long shelf-life, it finds application as a preservative, flavoring and coloring agent.

Growing awareness about the adverse effects caused by the chemicals used in daily use products has led the consumers to shift towards organic products so as to lower their chemical intake. This has created a positive outlook for the growth of the citric acid market.

Heightened demand for ready-to-drink beverages and processed foods has been witnessed in the developing countries on account of continuous economic growth, busy lifestyles, increasing urbanization and rising disposable incomes. As a result, the emerging regions are expected to be the future growth driver of the citric acid market.

Key Questions Answered in This Report

1. What was the size of the global citric acid market in 2021?

2. What are the key factors driving the global citric acid market?

3. What has been the impact of COVID-19 on the global citric acid market?

4. What is the breakup of the global citric acid market based on the application?

5. What is the breakup of the global citric acid market based on the form?

6. What are the key regions in the global citric acid market?

7. Who are the key players/companies in the global citric acid market?

Key Market Segmentation

This report provides an analysis of the key trends in each sub-segment of the global citric acid market, along with forecasts at the global and regional level from 2022-2027. The report has categorized the market based on application and form.

Breakup by Application:

  • Food and Beverages
  • Household Detergents and Cleaners
  • Pharmaceuticals
  • Others

Citric acid is majorly used in the food and beverage industry as an additive, flavor enhancer, preservative and antioxidant in a wide range of food products including soups, mayonnaise, candies, wines, juices, creams and carbonated drinks. Other major application segments of citric acid are household detergents and cleaners, and pharmaceuticals.

Breakup by Form:

  • Anhydrous
  • Liquid

On the basis of form, the market has been bifurcated into anhydrous and liquid citric acid. Amongst these, anhydrous citric acid represents the leading segment as it is extensively used for manufacturing a variety of food products such as ice creams, jams, jellies, canned foods, etc.

Regional Insights:

  • Western Europe
  • United States
  • China
  • Middle East and Africa
  • Central/Eastern Europe
  • Brazil
  • India

Region-wise, Western Europe represents the world's largest consumer of citric acid, wherein the major markets are Germany, France and the United Kingdom. However, demand for citric acid is mature and relatively saturated in the region, particularly in the carbonated beverage sector. Western Europe is followed by the United States, China, Middle East and Africa, Central/Eastern Europe, Brazil and India.

Competitive Landscape

The global citric acid industry is concentrated in nature with a few major players controlling most of the market. As the initial capital cost to set up a citric acid plant is quite high, it is difficult for small players to enter this market. Some of the major players operative in the market are:

  • Archer Daniels Midland Company
  • Cargill, Incorporated
  • Tate & Lyle PLC
  • Jungbunzlauer Suisse AG.
  • Cofco Biochemical (Anhui) Co., Ltd.
  • Huangshi Xinghua Biochemical Co. Ltd.
  • RZBC Group Co. Ltd.
  • Weifang Ensign Industry Co., Ltd.
  • Gadot Biochemical Industries Ltd.
  • S.A. Citrique Belge N.V.

For more information about this report visit https://www.researchandmarkets.com/r/7qi35v