PUBLISHER: ChemAnalyst | PRODUCT CODE: 1225843
PUBLISHER: ChemAnalyst | PRODUCT CODE: 1225843
The global Citric Acid market stood around 2700 thousand tonnes in 2021 and is expected to grow at a CAGR of 4.05% during the forecast period until 2035. In the year 2021, the market showed a significant growth of 4.25% in comparison to 2020 and is expected to grow by 3.50% by 2022.
Citric acid is a weak organic acid with the chemical formula C6H8O7. It is a natural preservative and used in foods and beverages for an acidic or sour flavor. Citric acid is produced using molasses, waste feedstock, and fruit peels. It possesses non-toxic, non-corrosive, and biodegradable properties. Citric acid is used as a preservative in cosmetics, detergents, and cleaners. In industrial and chemical processing, citric acid is employed. Citric acid is used as an antioxidant and preservative in a variety of foods, such as soups, mayonnaise, candy, wines, juices, creams, and carbonated beverages. It is also a part of pharmaceuticals and household cleansers.
The market driving factor for the growth of the Citric Acid market is the food and beverage sector. High consumer demand for food preservation products is anticipated to drive the industry's expansion. The food and beverage sector has consumed approximately 60% of the global citric acid in 2021. Citric acid, for instance, is gaining popularity in the detergents and cleansers market because of its non-corrosive, non-toxic, and biodegradable properties. Throughout the projection period, the industry is anticipated to exhibit significant increase which will further swell the Citric Acid demand in the forecast period.
Based on region, Asia Pacific and Europe are the leading consumers across the globe. In 2021, the highest demand was by Asia Pacific region with a market share of about 30%. The demand is expected to further grow in the forecast period due to increasing urban population in these regions, demanding more ready-to-eat commodities in which citric acid works as a preservative. Furthermore, the employment of Citric Acid in carbonated beverages is anticipated to further propel the Citric Acid demand in the forecast period.
Based on type, the global citric acid market is divided into Anhydrous and Monohydrate types. The Anhydrous type is dominating the market due to its chemical stability and shelf-life features.
Based on the end-user industry, the global Citric acid market is segmented into Food & Beverages, Pharmaceuticals, Detergent & Cleaning, Cosmetic & Personal Care, and others. Food & Beverages industry is the dominating as a consumer, with a market share of approximately 60% of the total demand in 2021. Moreover, it is expected that the Detergent & Cleaning industry will experience a surge in the forecast period
Major players in the production of Global Citric Acid market are RZBC Group Co., Ltd., TTCA Co., Ltd., Jungbunzlauer, Jiangsu Guoxin Union Energy Co., Ltd, Yixing Xielian Biochemical Co. Ltd., COFCO Biochemical (AnHui) Co., Ltd., Laiwu Taihe Biochemical Co. Ltd., and others.
Years considered for this report:
Historical Period: 2015- 2021
Base Year: 2021
Estimated Year: 2022
Forecast Period: 2023-2035
To extract data for Global Citric Acid market, primary research surveys were conducted with Citric Acid manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Citric Acid market over the coming years.
ChemAnalyst calculated Citric Acid demand in the globe by analyzing the historical data and demand forecast which was carried out considering the historical extraction and supply and demand of Citric Acid across the globe. ChemAnalyst sourced these values from industry experts, and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Citric Acid manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
In this report, Global Citric Acid s market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
With the given market data, ChemAnalyst offers customizations according to a company's specific needs.
Table of Content
On our online platform, you can stay up to date with essential manufacturers and their current and future operation capacity on a practically real-time basis for Citric Acid.
To better understand the regional supply of Citric Acid by analyzing its manufacturers' location-based capacity.
Study the historical annual production of Citric Acid by the leading players and forecast how it will grow in the coming years.
Learn about the various types: Anhydrous and Monohydrate types, and their demands. It will allow you to choose which type to concentrate on when designing your strategy.
Discover which end-user industry (Food & Beverages, Pharmaceuticals, Detergent & Cleaning, Cosmetic & Personal Care, and others.) are creating a market and the forecast for the growth of the Citric Acid market.
Analyzing the change in demand of Citric Acid in different regions, i.e., North America, Europe, Asia Pacific, Middle East and Africa, and South America, that can direct you in mapping the regional demand.
Multiple channels are used to sell Citric Acid. Our sales channel will help in analyzing whether distributors and dealers or direct sales make up most of the industry's sales.
Determine the supply-demand gap to gain information about the trade surplus or deficiency of Citric Acid.
Figure out what proportion of the market share of Citric Acid is currently held by leading players across the globe.