Defination:
Citric acid (C6H8O7) is a weak organic acid that occurs naturally in citrus fruits. It is produced commercially through the fermentation process and appears as a white, odorless, and crystalline powder at room temperature. It is widely used in the food and beverage industry as a preservative/sequestrant, acidulant, antioxidant, chelating agent, emulsifying agent, and flavoring agent in beverages, alcoholic beverages, dairy products such as processed cheese and ice cream, jams and jellies, meat and fish, ketchup, hummus, mayonnaise, and others. Citric acid also finds application in many different industries and products. It is used for medicinal purposes and cosmetics and personal care products such as body lotions, shampoos, bathing creams, soaps, and cleaning products.
Food & beverage industry is valued to have the largest market size due to its end-use in the industry such as food safety, food preservation, preparation of processed beverages & food items. The food & beverage industry has driven the market for citric acid across the globe. Europe accounts for the largest market share due to its demand from food & beverages and personal care products. Furthermore APAC has seen tremendous growth in the convenience food industry due to the urbanization and population growth.
Citric Acid Key Players:
Archer-Daniels-Midland Company
Cargill
Jungbunzlauer Suisse AG
Tate & Lyle PLC
Gadot Biochemical Industries Limited
S.A. Citrique Belge N.V
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Citric Acid Geographic Analysis:
- Geographical analysis across 15 countries
Citric Acid Market Study Objectives:
- To provide detailed analysis of the market structure along with forecast for the next 6 years of various segments and sub-segments of the Global Citric Acid Market
- To provide insights about factors affecting the market growth
- To analyze the Global Citric Acid Market based on various factors- price analysis, supply chain analysis, porters five force analysis etc.
- To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, APAC, and Rest of the World (ROW)
Market Segmentation:
The global citric acid market has been segmented by form, function, application, and region.
On the basis of the form, the global citric acid market has been segmented into powder and liquid. The powder segment has further been classified into anhydrous, monohydrate, dihydrate, and others.
On the basis of function, the global citric acid market has been segmented into acidulant, antioxidant, preservative/sequestrant, chelating agent, emulsifying agent, buffering agent, flavoring agent, and others.
On the basis of application, the global citric acid market has been segmented into food and beverage, cosmetics and personal care, pharmaceuticals, detergents and cleaners, and others.
Regional Analysis:
The global citric acid market has been segmented into five regions—Asia-Pacific, North America, Europe, Latin America, and the Middle East and Africa.
The market in Asia-Pacific is expected to be the largest and fastest-growing citric acid market during the forecast period. The growing food industry, due to the increasing acceptance of ready-to-drink (carbonated) beverages and processed foods, is expected to drive the regional product market. China is one of the largest consumers and exporters of citric acid and held a substantial share of the global citric acid market as of 2017. Relaxed investment norms, low production cost, and the availability of cheap labor in China contributes to the growth of end-use industries such as cosmetics and personal care, pharmaceuticals, and home care, which will stimulate product demand during the forecast period.
North America and Europe are also major markets for citric acid that are expected to continue growing during the forecast period. Significant demand from the established food and beverage, pharmaceuticals, and cosmetics and personal care industries in these regions are expected to result in market growth during the forecast period.
The market in the Middle East and Africa is at a nascent stage; however, the growing food and beverage and cosmetics and personal care industries in Saudi Arabia, the UAE, and other GCC countries are likely to provide business opportunities to market players during the forecast period.
The Latin American market holds the smallest market share and is expected to show sluggish growth during the forecast period due to poor economic growth in the region
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TABLE OF CONTENTS
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Function
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
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