January 2019: A publication on the “Global Citric Acid Market Size 2017 By End-Use (Food & Beverages, Household, Pharmaceuticals, Cosmetics, and Others), By Region And Forecast 2018 To 2025” was launched by Adroit Market Research today. The publication covers the estimates for the global citric acid market size for a period of 11 years, from 2015 to 2025. The report also covers the global citric acid market trends along with a deep dive into key regions and countries. The global citric acid market analysis has been undertaken using tools such as Porter’s Five Forces, import-export and pricing. The report also covers the global citric acid market 2018 trends with an in-depth assessment of drivers, restraints and value chain.
The global citric acid market size is projected to be valued at USD 4.34 billion by 2025 driven by its extensive use in numerous end-use industries such as food & beverages, pharmaceutical, household applications, cosmetics, metal finishing, and industrial applications. The growth of these end-use industries is expected to augment the growth of the global citric acid market between 2018 and 2025.
Food & beverage was the largest end-use of the citric acid and is projected to account for 61.4% of the global citric acid market 2018 revenues. Furthermore, the segment is also projected to continue dominating the citric acid market with a healthy growth rate over the forecast period. Citric acid is extensively used in non-alcoholic soft drinks where the citric acid content can be as high as 0.5% and as a flavoring agent along with a preservative. Of all categories of beverage sector, soft drinks witnessed significant growth in 2017 and are projected to maintain the momentum in coming years. This is one of the key factors to escalate the citric acid market size.
Citric acid is also used in dairy products, jellies, jams, and cake fillings to embed a tart-like flavor and to increase the shelf life. The global citric acid market analysis showed that growth in sales of detergents and household cleaning products is also contributing significantly to the sales of the chemical. Changing lifestyle and consumer inclination for easy-to-handle sophisticated products is, in turn, propelling the global citric acid market growth.
The global citric acid market trends showed that Asia Pacific is projected to witness remarkable growth in consumption over the forecast period. Strong economic prospects coupled with rising per capita income is responsible for the present boom in the food & beverage industry in Asia Pacific. Food & beverage and household segment are witnessing steady growth across the globe owing to which overall consumption of citric acid is set to rise considerably over the forecast period.
Archer Daniels Midland Company, Cargill, Incorporated., Jungbunzlauer Suisse AG, Basel, COFCO, Gadot Biochemical Industries Ltd. are some of the top players of the global citric acid market. Product differentiation is the key strategy presently followed by market players.
Key segments of the global citric acid market
End Use Overview, 2015-2025 (USD Million) (Kilo Tons)
- Food & Beverages
Regional Overview, 2015-2025 (USD Million) (Kilo Tons)
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Central & South America
- Rest of Asia Pacific
- Middle East & Africa