The Citric Acid Market is being driven by Growing demand for citric acids from detergents and cleaners
The Citric Acid Market is expected to grow at a CAGR of 9.45% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 2776.6 million. The organic food additives market, specifically for shelf-life stabilizers, has experienced significant growth in developed countries due to increasing consumer preference for natural and organic alternatives over synthetic food additives. This trend is driven by the perception that organic additives are safer and healthier, despite their higher manufacturing and acquisition costs. Moreover, the health-conscious population's expanding base is fueling the adoption rate of organic additives. In the beverage industry, the demand for low or no sugar drinks continues to rise, necessitating the production of healthier alternatives. Organic acids like citric acid, which are commonly used as natural food additives, are expected to benefit from this shift in consumer preferences.
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The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
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Report Coverage |
Details |
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Page number |
169 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 9.45% |
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Market growth 2024-2028 |
USD 2776.6 million |
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Market structure |
fragmentation |
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YoY growth 2023-2024(%) |
8.42 |
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Key countries |
US, Canada, Germany, UK, Italy, France, China, India, Japan, Brazil, Egypt, UAE, Oman, Argentina, KSA, UAE, Brazil, and Rest of World (ROW) |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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The Citric Acid market has witnessed significant growth in recent years, driven by its extensive applications in various industries. Archer Daniels Midland is one of the major players in the global citric acid market, supplying this versatile compound to various sectors. The use of citric acid extends beyond food and beverages, with applications in medicines, personal care products, and non-food sectors. In the pharmaceutical industry, citric acid is used as a binding agent, buffering agent, and preservative in various drugs. The World Health Organization recognizes its importance in the production of certain medicines. In the food industry, citric acid serves as an acidulant, preservative, and antioxidant. It is used in the production of organic food and beverages, vegan sources of calcium and magnesium mineral supplements, and synthetic food additives. Citric acid is also used to treat various health conditions, such as asthma, sleep disturbance, migraines, kidney damage, skin rashes, tumors, and hyperkinesia. The use of citric acid in food and beverages is not without controversy, however. Some people raise concerns about the use of synthetic food additives and their potential health risks. Natural sources of citric acid, such as citrus fruits, are gaining popularity as alternatives. In conclusion, the citric acid market is diverse and dynamic, with applications ranging from food and beverages to medicines and personal care products. Its health benefits, as well as its role as a preservative and acidulant, make it an essential compound in various industries. However, concerns about synthetic sources and potential health risks continue to fuel the demand for natural sources of citric acid.
The commodity chemicals market encompasses businesses primarily engaged in the production of industrial and basic chemicals, such as plastics, synthetic fibers, films, commodity-based paints and pigments, explosives, and petrochemicals. Notably, this sector excludes chemical companies specializing in diversified chemicals, fertilizers and agricultural chemicals, industrial gases, and specialty chemicals. According to Technavio's market analysis, the global commodity chemicals market is determined by the consolidated revenue generated by manufacturers of industrial and basic chemicals. Key growth drivers for this market include the increasing demand for plastic packaging, with plastic being the most widely used material in the packaging industry worldwide. The continuous innovation in the market, driven by the need for lightweight and corrosion-resistant materials, significantly influences the use of chemicals in the production of plastic packaging materials.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
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