Citric Acid Market Global Industry Report 2023-2028 | Analysis By Application, Form and Regional Insights

The latest report by IMARC Group, titled “Citric Acid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on the market. The report also includes competitor and regional analysis, and contemporary advancements in the market.

Citric Acid Market Size and Growth Forecast

The global citric acid market size reached a value of 2.8 Million Tons in 2022. Looking forward, IMARC Group expects the market to reach 3.3 Million Tons by 2028, exhibiting a growth rate (CAGR) of 2.87% during 2023-2028.

Year Considered to Estimate the Market Size:

Base Year of the Analysis: 2022

Historical Period: 2017-2022

Forecast Period: 2023-2028

Overview

Citric acid is a versatile ingredient found in citrus fruits, such as lemons, limes, oranges, grapefruits, and pineapples. It is manufactured synthetically through the fermentation process using Aspergillus Niger. Citric acid possesses antioxidant properties that brighten skin tone, regenerate dead skin cells, and reduce breakouts and oiliness. Its acidic and sour taste also makes it an ideal flavoring and preserving agent in soft drinks, candies, and other food products. Apart from this, citric acid is extensively used to control the growth of microorganisms in food products due to Its pH adjustment and antimicrobial properties and in household detergents and cleaners as a co-builder, especially in concentrated liquid detergents. 

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Citric Acid Market Growth Factors:

The global citric acid market is experiencing significant growth due to the increasing consumer health consciousness and awareness about the benefits of the product. The market is also supported by the rising product demand in the food and beverage (F&B) and cosmetic industries, as well as the shifting preference towards organic products. In line with this, the expanding use of citric acid across the burgeoning pharmaceutical industry as pain relievers, antacids, and antibiotics is contributing to the market growth. Moreover, the escalating product application as an additive to manufacture personal care products, adhesives and sealants, plastics, coatings, inks, and polymers is boosting the citric acid market growth. Furthermore, burgeoning consumer spending power, the largescale use of citric acid in the metal processing industry to remove rust and other contaminants from surfaces, and easy product availability across different retail channels are driving the market growth. Apart From these, the increasing demand for citric acid in food preservation represents a key factor driving the market growth.

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Note: In this report you will get detailed analysis of the market, growth analysis graphs, historical period analysis, forecast period analysis, major market segmentation, top leading key players of the market, table of content, list of figures, and list of tables.

Competitive Analysis With Top Companies In Market:

The global citric acid industry is concentrated in nature with a few major players controlling most of the market.

  • Archer Daniels Midland Company
  • Cargill, Incorporated
  • Tate & Lyle PLC
  • Jungbunzlauer Suisse AG
  • Cofco Biochemical (Anhui) Co., Ltd.
  • Huangshi Xinghua Biochemical Co. Ltd.
  • RZBC Group Co. Ltd.
  • Weifang Ensign Industry Co., Ltd.
  • Gadot Biochemical Industries Ltd.
  • S.A. Citrique Belge N.V.

Key Market Segmentation:

The report has categorized the market based on application and form.

Breakup by Application:

  • Food and Beverages
  • Household Detergents and Cleaners
  • Pharmaceuticals
  • Others

Breakup by Form:

  • Anhydrous
  • Liquid

Breakup by Region:

  • Western Europe
  • United States
  • China
  • Middle East and Africa
  • Central/Eastern Europe
  • Brazil
  • India

Ask Analyst for Customization:  https://www.imarcgroup.com/request?type=report&id=642&flag=C

Key highlights of the report:

  • Market Performance (2017-2022)
  • Market Outlook (2023-2028)
  • Market Trends
  • Market Drivers and Success Factors
  • Impact of COVID-19
  • Value Chain Analysis
  • Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

Related Reports by IMARC Group:

Facade Market Research Report

White Cement Market Research Report

Latin America Two-wheeler Market Research Report

Complementary and Alternative Medicine Market Research Report

Precision Medicine Market Research Report

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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