Citric acid, occurring in a wide variety of plants, citrus fruits, micro-organism, etc. holds an important role in metabolism. Citric acid is in demanded extensively as acidifying agent which is highly soluble in nature. Food & beverages, personal care and pharmaceutical industries are the key drivers in the growth of citric acid market across the globe. The acid finds its way in varied applications such as to increase tartness, pH adjustment, sourness, and also for enhancing flavors in the food & beverages industry. Apart from this it also used in pharmaceutical products, personal care, cleaners & detergent and others.
Market research future published a raw research report on Global Citric Acid Market that contains the information from 2018 to 2022. Global Citric Acid market is expected to grow with the CAGR of approximately 6.2% from 2018 to 2022, and with this it is predictable to cross USD 4 Billion by 2022.Taste the market data and market information presented through more than 85 market data tables and figures spread in 118 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “Global Citric Acid Market Information from 2018 to 2022″
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We recognize the key players in the global Citric Acid market as Archer-Daniels-Midland Company, COFCO Biochemical (AnHui) Co. Ltd., Cargill, Incorporated, Jungbunzlauer Suisse AG, RZBC Group Co. Ltd., Tate & Lyle PLC, Huangshi Xinghua Biochemical Co. Ltd., Weifang Ensign Industry Co., Ltd., Gadot Biochemical Industries Limited, and S.A. Citrique Belge N.V. This report includes the product portfolios of the same.
The report has analyzed the market based on the three segments: grade, form and application in the regions of North America, Europe, APAC and rest of the world. On the basis of application, food & beverages has the largest market share both by value and volume. The share is attributed to the increased demand for processed & packaged foods globally. Citric acid is used in food preservation, maintaining Ph levels and additional flavors. The scope of the market has widened over many years to the pharmaceutical industry and personal care industry among others. The global citric acid market is expected to cross USD 4 Billion at the end of the forecasted period and is expected to grow at CAGR of approximately 6.2% from 2016 to 2022.
Europe will be the largest market
Europe is expected to dominate the market with its largest market size for citric acid. The reason is attributed to the increased demand from all the industries. The key driver is the growth in convenience food industry and pharmaceuticals. The region is seen as consuming increasing volumes of citric acid over a period of time.
It is followed by North America and APAC, with APAC being the fastest growing market. The emerging nations like China and India are seen as the lucrative land for packaged food & beverage industry due to changing consumer preferences and shift towards packaged foods. The rapid urbanization and increasing working population has resulted in high consumption of processed food items which further consumes the acid.
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Regional Analysis of Global Citric Acid Market
Europe is the largest market for Citric Acid, followed by North America and APAC. The share of APAC is attributed to the increasing demand for functional food additives. The region has seen growing consumer preference towards processed and convenience food items. North America and APAC are seen as fast growing markets for the acid in almost all the industries such as food & beverages, cleaning agents, personal care and pharmaceuticals. The market is expected to show steady growth over the forecasted period.
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This research report has provides the insights, on various levels of analyses such industry analysis, market share analysis leading market players and their profiles. This report also helps in studying the target segments by providing views on emerging & high-growth segments and market conclusion. Together the market data comprise and discuss with the basic assessments on the competitive scenarios & strategies, of the global citric acid market, including the high-growth regions, countries and their political, economic and technological environments. Furthermore the project report also provides the views over the historical market values as well as, pricing and cost analysis of the same.
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