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- ID:OGA1809MVC1741
- Published: December-2021
- Pages:110
- OG Analysis
Global Citric Acid Market size, Outlook and Growth Opportunities to 2026: By Form (Liquid Form and Solid Form), By Function (Preservative, Emulsifying Agent, Acidulant, Antioxidant, Binding Agent, and Others) By Application (Food & Beverages, Healthcare, Pharmaceutical and Others), and By Region
Global Citric Acid Market is poised to report 4.93% year-on-year growth in 2019. Increasing number of diabetic patients across the world is driving the demand of citric acid as it is used for the production of diabetic baked products, low fat dietary products and others. Moreover, factors such as urbanisation and globalisation that are interlinked with growing industries, motels and hotels are driving the demand for global citric acid market.
Citric acid is a weak organic acid that is cost effective ingredient, therefore it is highly preferred by manufacturers of end use industries in the production of their products. This high demand for citric acid is encouraging the major players in the citric acid industry to fuel their investments.
Growth in industries such as food and beverages, pharmaceuticals, personal care, detergents & cleaners, and others are expected to drive the global citric acid market. Disproportionate amount of citric acid consumption leads to side effects, which restrains the global citric acid market growth.
Based on form, the powder form of citric acid is dominating the global citric acid market
Powder form accounts for the market share of about 63.3% as it replaces the usage of vinegar or lemon juice in culinary applications. It is employed as chelating agent to eliminate the formation of limescale in evaporators and boilers. Furthermore, it is used to increase the effectiveness of soaps and laundry detergents in water.
Liquid form accounts for remaining market share and is used in wide range of food and dairy products applications, which have beneficial properties such as texture modification, acidifying agents, and flavour enhancement. In oil industry, liquid form is used as chelating agent for maintaining the pH of acidizing fluids in order to reduce precipitation of iron in oil.
Preservation is the major function of citric acid in food and beverages industry
The report analyses the global citric acid market based on function as preservative, emulsifying agent, acidulant,antioxidant, binding agent, and other functions. Of these functions, citric acid is highly used in food & beverages industry in order to preserve the food items for prolonged time owing to its sour nature.
Citric acid is also used as antioxidant and emulsifying agent in ice creams and other baked foods to avoid the fats from separating. Accordingly, the demand for citric acid is growing year on year.
Food and beverages remains as the leading application segment
In terms of application, food and beverages segment is attributed to hold the major market share that accounts about 58% that is coupled with its extensive usage in creams and dietary supplements. Powder form of citric acid acts as preservative and emulsifying agents, which find application in food and beverage industries.
Followed by healthcare sector, which owns second largest market share owing to usage of citric acid for neutralization of the pH value in medicines as well as salt derivatives of minerals & metals. Along with these, citric acid is employed in conjunction with sodium carbonate in effervescent formulae for the production of personal care, ingestion tablets and powder products.
In addition to food & beverages and healthcare applications, the global citric acid market is segmented into pharmaceutical and other industries.
Based on regional analysis, European citric acid market captures the largest market share
Demographically, Europe accounts for major market share in the global citric acid market, followed by North America and Asia pacific regions.
Increasing awareness among consumers concerning the health benefits offered by citric acid for maintaining the digestive health, which leads to robust growth of citric acid market in Europe. European people who are consuming citric acid based yogurt to maintain digestive health has increased to a great extent in recent years.
In North America, most of the people are suffering from digestive system problems. Along with these, the increase in food & beverages and pharmaceuticals industry are driving the citric acid market and have positive industry outlook.
In Asia Pacific region, the factors such as increasing geriatric population and cause of lifestyle diseases such as mental health problems, cardiovascular diseases, and gut health related issues are evidenced the growth of citric acid market in the region.
Further, regional analysis of global citric acid market is segmented for countries across South & Central America and Middle East & Africa.
Key players participating in the global Citric acid market
Key players that are participating in Citric acid market globally are Archer Daniels Midland Company (US), COFCO Biochemical (Anhui) Co., Ltd (China), Cargill, Incorporated. (US), Delek Group (Israel), Gadot Biochemical Industries Ltd (Israel), Huangshi Xinghua Biochemical Co., Ltd (China), Jungbunzlauer Suisse AG (Switzerland), Pfizer Inc. (US), RZBC Group Co., Ltd (China), and S.A. Citrique Belge N.V.(Belgium) among others.
Scope:
Long term perspective on the Citric Acid industry: 2019 (base year), 2020- 2026 (forecast period)
Citric Acid Market- Forecasts by Segments- Form, Function, and Application by geography.
- It provides the citric acid market outlook by 2 form types including liquid form and solid form.
- The report provides the citric acidmarket based on 6 function types including preservative, emulsifying agent, acidulant, antioxidant, binding agent, and others.
- It provides the citric acidmarket based on 4 applications including food & beverages, healthcare, pharmaceutical and others.
- Citric acid market across countries in 5 regions including Asia-Pacific, Europe, North America, South & Central America and Middle East & Africa are covered.
Citric Acid Market- Strategic Analysis Review
- Key strategies opted by leading players
- Short to Long Term Industry Trends
- Porter’s Five Forces Analysis
- Supply side and Demand Side Drivers and Challenges
Citric Acid Market- Growth Opportunities
- Potential New Business Opportunities
- Key Areas of Focus in forecast period
Citric Acid Market- Competitive Scenario
- 10 companies are analysed in the report including Archer Daniels Midland Company (US), COFCO Biochemical (Anhui) Co., Ltd (China), Cargill, Incorporated. (US), Delek Group (Israel), Gadot Biochemical Industries Ltd (Israel), Huangshi Xinghua Biochemical Co., Ltd (China), Jungbunzlauer Suisse AG (Switzerland), Pfizer Inc. (US), RZBC Group Co., Ltd (China), and S.A. Citrique Belge N.V.(Belgium).
- Company Peer-to-Peer Comparison
- Company Profile and SWOT Analysis
- Financial Analysis
1. Table of Contents
1.1 List of Tables
1.2 List of Figures
2. Global Citric Acid Industry Overview
2.1 Key Findings
2.2 Market Definition
2.3 Industry Overview
2.4 Report Guide and Research Methodology
3. Executive Summary
3.1 Key Trends Shaping the Future of Citric Acid Market to 2026
3.2 Key focus areas of Leading Manufacturers in the market
3.3 Potential Application Segments with strong growth prospects, 2020- 2026
3.4 Key Emerging Markets vital for growth of Citric Acid Market
3.5 Prominent Types of Citric Acid set to Gain Market Shares, 2020- 2026
4. Citric Acid Market Strategic Analysis Review
4.1 Porter's Five Forces Analysis of Global Citric Acid Market
4.2 Supply Chain Analysis of Citric Acid Industry
4.3 Pricing Analysis and Forecasts
4.4 SWOT Analysis
Key Strengths of Investing in Citric Acid Market
Major Weaknesses Facing Companies Operating in Citric Acid Market
Potential Opportunities in Citric Acid Market
Potential Threats in Citric Acid Market
5. Global Citric Acid Market Outlook and Growth Opportunities
5.1 Global Citric Acid Market Outlook by Type, 2020- 2026
5.2 Global Citric Acid Market Outlook by Application, 2020- 2026
5.3 Global Citric Acid Market Outlook by Region, 2020- 2026
6. Asia Pacific Citric Acid Market Outlook and Growth Opportunities
6.1 Introduction
6.2 Asia Pacific Citric Acid Market Outlook by Type, 2020- 2026
6.3 Asia Pacific Citric Acid Market Outlook by Application, 2020- 2026
6.4 Asia Pacific Citric Acid Market Outlook by Country, 2020 2026
6.5 Leading Companies
7. Europe Citric Acid Market Outlook and Growth Opportunities
7.1 Introduction
7.2 Europe Citric Acid Market Outlook by Type, 2020- 2026
7.3 Europe Citric Acid Market Outlook by Application, 2020- 2026
7.4 Europe Citric Acid Market Outlook by Country, 2020- 2026
7.5 Leading Companies
8. North America Citric Acid Market Outlook and Growth Opportunities
8.1 Introduction
8.2 North America Citric Acid Market Outlook by Type, 2020- 2026
8.3 North America Citric Acid Market Outlook by Application, 2020- 2026
8.4 North America Citric Acid Market Outlook by Country, 2020- 2026
8.5 Leading Companies
9. Rest of World (RoW) Citric Acid Market Outlook and Growth Opportunities
9.1 Introduction
9.2 Rest of World (RoW) Citric Acid Market Outlook by Type, 2020- 2026
9.3 Rest of World (RoW) Citric Acid Market Outlook by Application, 2020- 2026
9.4 Rest of World (RoW) Citric Acid Market Outlook by Country, 2020- 2026
9.5 Leading Companies
10. Citric Acid Market Market Forecast by Application Segment
10.1 Global Citric Acid Market Outlook by Application
11. Citric Acid Market Forecast by Type
11.1 Global Citric Acid Market Outlook by Type
12. Competitive Landscape
12.1 Leading Players
12.2 Market Shares of Top Companies in Revenue Terms, 2020
12.3 Company Benchmarking (Peer-to-Peer Comparison)
12.4 Product Benchmarking (Competitive Product Matrix)
12.5 Financial Analysis
13. Business Profiles of Leading Citric Acid Companies
14. Citric Acid Market Recent News and Deals Landscape
14.1 Mergers and Acquisitions
14.2 Citric Acid Market New Product Launches
14.3 Asset Transactions
14.4 Financial Announcements
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