Zion Market Research published new report on “Citric Acid Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024“ in its database
Global Citric Acid Market: Overview
Citric acid is mainly found in citrus fruits, microbes, plants, animal tissues, and fluids. It plays an important role in metabolism and hence witnesses high demand as an acidifying agent. It is the highly soluble ingredient. Some of the benefits provided by citric acid include preventing microbial growth, enhancing flavors, imparting tartness and sourness, and adjusting pH levels. Citric acid is also known as nature’s acidulant.
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Global Citric Acid Market: Growth Factors
Owing to the high demand for food additives in the processed foods industry, the global citric acid market is impacted in a positive way. Rising customer preference for foods & beverages made up of safe and harmless constituents is anticipated to boost the global market growth in future. In addition, increased use of citric acid in various industries such as personal care and pharmaceutical may further propel the global citric acid market growth. Citric acid, when used as an acidulant, is considered to be more superior as compared to lactic, DL-malic, phosphoric, fumaric, and tartaric acid; thus acting as a substituent for these acids. This advantage of citric acid results in its high demand in the global market.
Citric acid also acts as a substitute for phosphate which is used in concentrated liquid detergents. This results in increased demand for citric acid from the residential sector. Citric acid also helps manufacturers to give “hygienic and fresh” label to their products. Thus bringing these products in the safe and approved category from customers. However, cutthroat competition from niche as well as strong competitors in the market may hinder the growth of the global citric acid market in future.
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Global Citric Acid Market: Segmentation
The global citric acid market is segmented on the basis of form, application, function, and regions. Based on the form, the global citric acid market is segmented as anhydrous and liquid. Further on the basis of application, the global market is segmented as pharmaceuticals, food, cosmetics, and others. Based on the function, the global citric acid market is classified as acidulant, antioxidant, preservative, and sequestrant. Geographically, the global market is diversified as Europe, North America, Asia-Pacific, and Rest of the World (RoW).
Global Citric Acid Market: Regional Analysis
Europe and Asia Pacific are anticipated to contribute the major share of the global citric acid market. The European region is expected to witness high growth owing to rising demand from foods & beverages industry. Growth in the Asia-Pacific region is mainly due to China, as it is the major citric acid exporter and consumer. North America is anticipated to follow this trend owing to high demand for citric acid in this region.
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Global Citric Acid Market: Competitive Players
Some of the major players in the global citric acid market include Tate & Lyle plc, Archer Daniels Midland Company, Pfizer Inc., and Gadot Biochemical Industries.
Global Citric Acid Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
What Report Provides
- Full in-depth analysis of the parent market
- Important changes in market dynamics
- Segmentation details of the market
- Former, on-going, and projected market analysis in terms of volume and value
- Assessment of niche industry developments
- Market share analysis
- Key strategies of major players
- Emerging segments and regional markets
- Testimonials to companies in order to fortify their foothold in the market.
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