PUBLISHER: Allied Market Research | PRODUCT CODE: 1396934
PUBLISHER: Allied Market Research | PRODUCT CODE: 1396934
The citric acid market was valued at $3,296.9 million in 2018 and is projected to reach $7,028.2 million by 2032, growing at a CAGR of 5.6% from 2023 to 2032.
Lemons, grapefruits, oranges, and others are the type of citrus fruits that contain citric acid. Citric acid is a weak organic acid, commonly used in food and beverage products to enhance the flavor, adjust the pH balance of the product, increase the shelf life of the food & beverages, and add a tangy and tart flavor.
Meat and dairy products are the primary sources of phosphate additions, such as sodium phosphate, which serve as preservatives and emulsifiers for meat. Polyphosphates have been shown to improve the strength and amount of water in meat particles in processed meat products. However, manufacturers of food have been discouraged from converting to organic additives due to a number of health issues linked to phosphate use. Colitis, heart disease, renal damage, and other issues are brought on by prolonged phosphorus ingestion. Bloating, pain, headaches, elevated heart rate, and other symptoms are the short-term effects of phosphate increases.
The negative effects of sodium phosphate have provided an opportunity for increased usage of citric acid in food and beverage products. Citric acid is the appropriate substitute for sodium phosphate additives as it can act as a preservative and emulsifying agent. An increase in the usage of citric acid boosts the market growth of the citric acid regulators market.
Expansion of the citric acid market is hampered by the rise in prices of raw materials used in the manufacturing of citric acid. Primary raw materials utilized in citric production are lime, lemons, grapefruit, black mold, and others. The raw material prices are volatile and can be influenced by a series of factors, including extreme weather, political instability, pests & and disease. In addition, an increase in the supply-demand gap in the fruit industry has increased the cost of citrus fruits. The ongoing inconsistency of the production of citric acid from natural sources has affected the price, as the price increased due to less production and more demand.
The increase in demand for ready-to-eat meals & fast food is a key driver for the citric acid market across the globe. Moreover, innovative technologies, introduction of production techniques, and a heavy inflow of investments in R&D activities are the other factors expected to supplement the citric acid market growth. There is an upcoming trend of using natural flavor essence such as citric acid, owing to a rise in health awareness.
Furthermore, high demand for stabilizers and antioxidant food ingredients across European countries to produce commercialized clean label or green food products that are free of additives and other harmful chemicals propel the growth of the citric acid derived from natural sources. Technological strides make it possible for manufacturers to develop innovative flavors to cater to change in customer taste requirements. Innovation in citric acid production and their growth in demand across emerging economies are expected to open new avenues for market players in the future.
The citric acid market is segmented into form, application, grade, end use, and region. By form, the market is classified into powder and liquid. By application, it is segregated into acidulant, cleaning agent, binding agent, preservatives, and others. By grade, it is classified into food, industrial, and pharmaceuticals. By end use, it is divided into food & beverages, cleaning & sanitation, animal feed, personal care, and pharmaceuticals. Region-wise, it is studied across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Italy, Russia, Spain, Netherlands, and rest of Europe), Asia-Pacific (China, India, Japan, Australia, Thailand, Indonesia, Kazakhstan, Uzbekistan, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, South Africa, Saudi Arabia, UAE, Turkey, and rest of LAMEA).
Players operating in the global citric acid market have adopted various developmental strategies to expand their market share, increase profitability, and remain competitive in the market. Key players profiled in this report include Foodchem International Corporation, BASF SE, Jungbunzlauer Suisse AG, Shandong Juxian Hongde Citric Acid Co. Ltd., Tate & Lyle PLC, Cargill, Incorporated, Citribel NV, Sucroal S.A., Gadot Biochemical Industries Ltd., Archer-Daniels-Midland Company, F.B.C Industries, Inc., Shandong Ensign Industry Co.,Ltd., Koninklijke DSM N.V., RZBC Group Co., Ltd., and Huangshi Xinghua Biochemical Co, Ltd.
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