Citrates: Global Market Intelligence (2023-2030)

REPORT OBJECTIVES

The report "Citrates: Global Market Intelligence (2023-2030)" provides market intelligence on the different market segments, based on type, function, application, and geography. Market size and forecast (2023-2030) has been provided in the report. The primary objectives of this report are to provide 1) comprehensive global market intelligence through detailed segmentation, 2) market size and forecasts, growth rates, market dynamics, industry structure and developments, market situation, trends, 3) detailed analysis of current dynamics and trends, key market players, and strategies in the market, 4) detailed value chain analysis and review of growth factors essential for the existing market players and new entrants, 5) provide emerging opportunities in the market and the future impact of major drivers and restraints of the market and, 6) support decision makers in making cost-effective business decisions.

RESEARCH METHODOLOGY

In our market size and forecast determination efforts, an extensive secondary research was initially completed to gain a good perspective of the market in each region. Extensive primary research was also carried out by interviewing the key executives from the industry. These interviews helped us to fill-in the data gaps after secondary research. Several secondary sources such as encyclopedia, directories, and databases have been used to identify and collect Information useful for this extensive techno-commercial study. The respondents - selected experts from manufacturers and selected suppliers - have been interviewed to obtain and verify critical information as well as to assess the future prospects. The usage of obtained information is based on the perceived reliability by the research team. In many cases, a combination of several sources was used. Sprout Intelligence provides an in-depth analysis of the market segmentation, which is a critical element of the market intelligence reports at Sprout Intelligence.

KEY AUDIENCE

Executives in marketing, strategic planning and new product development will find such discussions in our reports pertinent and useful. Management consultants, investment bankers, manufacturers, distributors, suppliers, and regulatory authorities are amongst our regular clientele served.

DATA SOURCES

The general data sources used in this report are company websites, trade association publications, regulatory authorities, journals, magazines, news websites, press releases, media publications, interaction with industry experts, company executives, research papers, articles, patents, scientific literature, among many others.

KEY FINDINGS FROM THE REPORT

The global citrates market is expected to grow at a CAGR of more than 5% from 2023 to 2030. Citrates are a group of organic compounds that have a wide range of applications across different industries such as food and beverages, pharmaceuticals, personal care, and agriculture. These compounds are in high demand due to their many benefits and as a result, the global market for citrates is experiencing steady growth.

The food and beverage industry is the largest end-user of citrates, and they are commonly used as acidity regulators, preservatives, and emulsifiers in a variety of food and drink products. These include soft drinks, juices, jams, and jellies. In the pharmaceutical industry, citrates are used as excipients in the production of medicines and as a source of citric acid for various formulations. Citrates are also used in the personal care industry as chelating agents, emulsifiers, and pH adjusters. They are incorporated into a wide range of personal care products such as shampoos, conditioners, and body washes. Additionally, in the agriculture industry, citrates are used as foliar fertilizers to boost plant growth and yield. They are also used to maintain soil pH levels and as a source of nutrients for plants.

The key players in this market are Tate & Lyle, Pfizer, Archer Daniels Midland, and Gadot Biochemical Industries among many others.

Sprout Intelligence expert team projected the global citrates marketis expected to cross mark of USD 3 billion.