According to IMARC Group’s latest report, titled “Citric Acid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, the global citric acid market size reached 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.
Citric acid (C6H8O7) is a weak organic acid produced naturally in citrus fruits including oranges and lemons. In its natural form, it looks like small, clear crystals, similar to table salt. It has an acidic taste though it is odorless. It is extensively used in the food and beverages industry as an acidulant in carbonated soft drinks. It is also used to control the growth of microorganisms, for pH adjustment, and to induce sourness.
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Citric Acid Market Trends:
The increasing demand for citric acid in food preservation represents a key factor driving the market growth. In line with this, the rising demand for citric acid in the pharmaceutical industry to produce digestive medicines is contributing to the market growth across the globe. Moreover, citric acid is being widely preferred as one of the organic food additives, and hence is extensively utilized in the food processing industry.
This, along with the significant expansion in the food processing industry and the rising demand for clean label food products, is acting as a major growth-inducing factor. Other factors, such as extensive research and development (R&D) activities and key mergers and acquisitions (M&A) among players to introduce different citric acid products, are creating a positive outlook for the market further across the globe.
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 Landscape with Key Players:
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
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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.
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