Citric Acid Market Size Worth 3.3 Million Tons by 2028 | CAGR: 2.87%: IMARC Group

Citric Acid Market Size Worth 3.3 Million Tons by 2028 | CAGR: 2.87%: IMARC Group

13 December 2023 Off By Editorial Team

According to IMARC Group, the global citric acid market size reached 2.8 Million Tons in 2022. Looking forward, the market is expected to reach 3.3 Million Tons by 2028, exhibiting a growth rate (CAGR) of 2.87% during 2023-2028.

Factors Affecting the Growth of the Citric Acid Industry:

  • Expanding Applications in the Food and Beverage Industry:

The expanding applications of citric acid in the food and beverage industry represents one of the key factors driving the market growth across the globe. Citric acid is a versatile acidulant and preservative, widely used in various food and beverage products. It serves as a natural flavor enhancer, acidity regulator, and preservative, contributing to the improved taste, texture, and shelf life of a wide range of products, including carbonated beverages, jams, jellies, and confectionery. With the rising demand for processed and convenience foods, the utilization of citric acid in the industry has surged. Additionally, its natural origin aligns with consumer preferences for clean-label and natural ingredients, which is further driving its adoption in food and beverage formulations.

  • Growing Pharmaceutical and Personal Care Applications:

The pharmaceutical and personal care industries are emerging as significant drivers of the citric acid market. In pharmaceuticals, citric acid finds application as an excipient in drug formulations. It is valued for its ability to improve the solubility and stability of active pharmaceutical ingredients (APIs). This enhances the bioavailability and efficacy of drugs, thus making citric acid a vital ingredient in the pharmaceutical sector. Furthermore, in the personal care and cosmetics industry, citric acid is utilized for its exfoliating, pH-regulating, and chelating properties. It is commonly found in skincare, haircare, and cosmetic products, where it contributes to product performance and enhances the overall consumer experience. As these industries continue to grow, the demand for citric acid in pharmaceutical and personal care applications is increasing.

  • Shift Toward Natural and Clean-Label Products:

Consumer preferences for natural and clean-label products are fueling the citric acid market. Citric acid is considered a natural ingredient due to its organic origin from citrus fruits. This aligns with the growing consumer demand for products with minimal synthetic additives and a focus on health and wellness. Manufacturers are responding to this trend by incorporating citric acid into a wide range of products, including organic and natural formulations. Citric acid’s role in preserving the sensory attributes and safety of natural and clean-label products is significantly contributing to its popularity in this context. Moreover, regulatory bodies are emphasizing the use of citric acid as a safe and approved food and pharmaceutical ingredient, which is further supporting its growth in natural and clean-label product categories.

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Leading Companies Operating in the Global Citric Acid Industry:

  • 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.

Key Market Segmentation:

The report is organized into distinct sections as follows:

Breakup by Application:

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

The food and beverages industry is the largest application segment in the citric acid market due to the widespread use of citric acid as a food additive for its flavor-enhancing, preservative, and acidulant properties, thus making it an essential ingredient in various food and beverage products.

Breakup by Form:

  • Anhydrous
  • Liquid

The anhydrous form is the largest segment in the citric acid market because of its versatility and wide range of applications, including food and beverages, pharmaceuticals, and personal care products, thereby making it the preferred choice for various industries.

Regional Analysis:

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

Western Europe is the largest region in the citric acid market due to the high demand for citric acid in the food and beverage industry, coupled with stringent regulations favoring natural food additives, driving its extensive usage in the region.

Global Citric Acid Market Trends:

The growing consumer preference for natural and clean-label products is influencing the growth of the market across the globe. This is further leading to increased use of citric acid as a natural acidulant and preservative in food and beverages which is driving the market growth. Moreover, the pharmaceutical industry is experiencing a rise in demand for citric acid in drug formulations, owing to its compatibility with various active ingredients and its role in enhancing drug solubility.

Sustainability is a prominent trend, with manufacturers focusing on eco-friendly citric acid production processes which is further driving the market. Additionally, the cosmetics and personal care industry is incorporating citric acid in skincare and haircare products due to its exfoliating and pH-regulating properties.

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Other Key Points Covered in the Report:

  • COVID-19 Impact
  • Porters Five Forces Analysis
  • Value Chain Analysis
  • Strategic Recommendations

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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