Citric Acid Market Size to grow by USD 2776.6 million between 2024-2028
According to a research report “ Citric Acid Market” by Application (Food and beverage, Pharmaceuticals and personal care products, Detergents and cleaners, Others) Type (Liquid, Anhydrous) Geography (Europe, North America, APAC, Middle East and Africa, South America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 2776.6 million, at a CAGR of 9.45% during the forecast period. In the realm of household and industrial cleaning solutions, citric acid plays a pivotal role due to its unique properties. This organic acid is employed to soften water and facilitate foam formation, making it an indispensable ingredient in soaps, detergents, and cleaning agents. Its acidic nature enables it to effectively remove grime and stains from fabrics and surfaces, while its non-corrosive, non-toxic, and biodegradable attributes render it a preferred choice in the production of eco-friendly detergents. The increasing consumer preference for environmentally-friendly and non-hazardous cleaning products is driving the demand for citric acid in the detergent industry..
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By Application, the Food and beverage segment is projected to dominate the market size in 2024
In the dynamic business landscape of the global citric acid market, the food and beverages sector emerged as the fastest-growing application segment in 2023. This trend is anticipated to persist throughout the forecast period due to the rising consumer preference for packaged and convenience food items. Citric acid, a versatile additive, plays a pivotal role in this sector. Its primary functions include flavor fixation, bacterial stabilization, sterilization, flavor enhancement, and acidity regulation. Notably, citric acid is extensively utilized in various food and beverage products such as ice creams, puddings, desserts, canned and jarred foods, sauces, cake mixes, baked goods, packaged vegetables and fruits, and frozen fish products, including herring, crab, shrimp, and cheese.
By Type, Liquid segment is expected to hold the largest market size for the year 2024
In the global citric acid market, the liquid segment represents a significant portion, encompassing citric acid solutions and concentrates in a liquid form. These products are generated by dissolving citric acid powder in water to create a solution with a defined citric acid concentration. The liquid segment further comprises citric acid-based beverages and liquid additives utilized in food and beverage processing. The convenience and ease of use offered by these liquid products are primary growth drivers, particularly in industries where precise acidity adjustments are essential, such as food and beverage production.
Europe is forecasted to hold the largest market size by region in 2024
The Citric Acid market witnesses significant growth due to its extensive applications in various industries, including food and beverages, pharmaceuticals, and textiles. As a versatile organic acid, citric acid plays a crucial role in these sectors, acting as a preservative, flavor enhancer, and sequestrant. Its eco-friendly production process and increasing consumer preference for natural food additives further bolster market expansion.
The Citric Acid Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
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.
Market Research Overview
The Citric Acid Market is a significant segment in the organic acid market, driven by its diverse functions as a sequestrant, reagent, and food additive. This market includes both anhydrous and liquid grade citric acid, finding applications in various industries such as phosphate, organic food additives, pharmaceutical, processed food, beverages, and emulsions. Import and export analysis plays a crucial role in the market's revenue pockets, with key players like Cofco Biochemical and Archer Daniels Midland dominating the scene. Citric acid functions as a binding agent, buffering agent, antioxidant, preservative, and acidulant in various sectors, including food, beverages, and non-food sectors. Localised demand for citric acid exists in the domestic market, particularly in the production of citrus flavors and food additives. The market's growth is driven by consumer attitude towards natural ingredients and ecofriendlier alternatives to synthetic food additives. In the pharmaceutical sector, citric acid is used as a non-toxic substitute in the production of medicines for conditions such as asthma, sleep disturbance, migraine, kidney damage, skin rashes, tumors, and hyperkinesia. Moreover, citric acid finds applications in hair products, skin care, cosmetics, and cleaning tasks, further expanding its market reach. The market's future development is expected to be influenced by the increasing demand for plant-based food products, mineral supplements, and dietary supplements. Citric acid's role as a sequestrant in calcium and magnesium supplements is noteworthy. Overall, the citric acid market's growth is expected to continue, driven by its versatility and wide range of applications.
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