MRFR Press Release/- Market Research Future Published a Half Cooked Research “Global Citric Acid Market Research Report – Forecast to 2022” – Market Analysis, Scope, Stake, Progress, Trends and Forecast up to 2022.
Archer-Daniels-Midland Company (the U.S.), COFCO Biochemical (AnHui) Co. Ltd. (China), Cargill Incorporated (the U.S.), Jungbunzlauer Suisse AG (Switzerland), RZBC Group Co. Ltd. (China), Tate & Lyle PLC (the U.K), Huangshi Xinghua Biochemical Co. Ltd. (China), Weifang Ensign Industry Co., Ltd. (China), Gadot Biochemical Industries Limited (Israel), and S.A. Citrique Belge N.V. (Belgium) among others are some of the prominent players at the forefront of competition in the Global Citric AcidMarket and are profiled in MRFR Analysis.
Citric Acid Market – Market Overview
Citric Acid belongs to tricarboxylic acid group containing three carboxyl functional group (-COOH) attached with hydroxy-propane. It is natural acidulant, found in fruits, animal tissues and plants. Commercially it is produced through microbial fermentation of carbohydrate substrate which is available in anhydrous as well as monohydrate forms. Citric Acid is commonly used in food and beverages to enhance the flavours and acts as preservative. This acid is available in different grade such as food grade and pharmaceutical grade. Food grade is prominent grade accounting for largest market share followed by pharmaceutical grade. The numerous factors driving the Citric Acid Market growth are prevention of microbial activity, flavour enhancing and imparting tartness along with sourness.
The increasing application of Citric Acid as natural flavouring agents has amplified the growth of organic products. Moreover, rising consumption of citric acid in carbonated drinks as well as ready to eat food products is anticipated to propel the market growth. The growth of Citric Acid is directly impacted by rising food additive industry along with consumer preference towards health and safe food constituents. Additionally, Citric Acid is also used in numerous applications like cosmetics & personal care, pharmaceutical and cleaning agents. Citric Acid used as acidulant in personal care and pharmaceutical application could provide competitive CAGR market over the forecast period. Owing to its superior properties such as antioxidant, non-toxic and biodegradable, Citric Acid is used in detergents and cleaning products. It also acts as substitute to phosphate in liquid detergent. European Union in 2013 set a limit of 0.5 grams of phosphorus in every washing cycle of consumer laundry detergents.
Consumption of Citric Acid in pharmaceutical products such as antacids, stabilizing agents and dentifrices is also anticipated to augment the market growth. Growing benefits coupled with broad range of application scope will drive the market over the projected period. However, excess consumption of citric acid causes health problems which limits the intake of citric acid by manufacturer in their particular products. Strong regulatory policies and growing health issues can further hamper the market growth. Additionally, food containing Citric Acid also consumes artificial sweetener causing obesity is restraining the market growth. Citric Acid acts as substitute to DL malic, latic, phosphoric and tartaric acid, thereby, widening the application scope.
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According to MRFR analysis, the Global Citric Acid Market is dominating in Asia Pacific region followed by North America and European Region. Asia Pacific witnessed significant growth owing to growing population coupled with changing standard of living. Surge in demand of citric acid in end use industries such as food, pharmaceutical and cosmetics would drive the market growth in coming years. China and India are leading countries in Asia Pacific regions owing to large production base, strong government supportive regulations, increasing consumption of ready to drink and processed foods. North America and European regions closely follow in Citric Acid consumption. U.S. is projected to grow at considerable CAGR. Consumer awareness of nutritional foods with natural fruit content as well as rising consumption of carbonated drinks is anticipated to fuel the market growth. At the same time, surge in demand of cosmetics and personal care products along with increasing concern over food safety and personal hygiene is expected to propel the product demand over forecast period. Increasing food & beverage industries in Thailand, Saudi Arabia, South Korea and Australia will propel the citric acid penetration.
Citric Acid Market – Competitive Analysis
Citric Acid Market is fragmented market with tier 2 and small companies dominating the overall market. Emerging markets like China is dominating with large installed capacity and strong export base. China accounted for around 60% of the overall export market. The leading companies in developing regions are competing with local players to increase their market share and customer base. Manufacturer of food & beverage industry are investing more onto R&D for meeting the growing demand of particular regions. Manufacturer in developing regions depends on low cost feedstock and supportive government policies. Moreover, innovation through technological advancement promote the citric acid market thereby, reducing the price.
Industry/ Innovation/ Related News:
June 05, 2017– The U.S. International Trade Commission agreed to open investigation on anti-dumping and countervailing duties of critic acid and other salts which are imported from Belgium, Thailand and Colombia. This came into effect after continuous petition from companies like Archer Daniels Midland and Cargill Inc. This effect will help the customer to get products at reasonable price. This petition will also subsidies on imports from China as major products sold in United States are at dumped prices.
May 01, 2016 –Development of pectic films with pomegranate juice and Citric Acid can open new opportunities for manufacture in packaging industry.
March 18, 2016 – China is under project of capacity expansion of Citric Acid production. Major companies like Shandong Juxian Hongde Citric Acid Co., Ltd. started building 100,000 tons per year capacity of Citric Acid in 2013. RZBC Group started production facility for citric acid in September 2014. Moreover, Anhui BBCA Biochemical Co., Ltd. started 60,000 tons of capacity in Szolnok Industrial Park, China. All these projects is still under slow progress owing to low price of Citric Acid.
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