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Citric Acid Market By Application (Food & beverages, Pharmaceuticals, Household Detergents And Cleaners, Cosmetics, Industrial applications & others) - Growth, Share, Opportunities & Competitive Analysis, 2015 - 2022

Citric acid is the most widely used food acidulant. The acid and its derivatives are also ingredients in personal care products, pharmaceuticals, detergents and cleaners, and industrial applications.

Food safety and rising demand for innovative food and beverage products are factors driving market growth. The emergence of lactic acid as a substitute for citric acid is one of the major factors inhibiting the market growth.   

Purpose of the Report

The purpose of this strategic research study titled “Global Citric Acid Market” is to provide company executives, industry investors, and industry participants with in-depth insights to enable them to make informed strategic decisions regarding the global citric acid market opportunities.

Target Audience

  • Industry investors
  • Raw material suppliers
  • Distributors
  • Manufacturers
  • Retailers
  • Companies who want to enter the market and companies who want to diversify their product portfolio

Overall, the research study provides a holistic view of the global citric acid market, growth offering market size, and estimates for the period from 2015 to 2022, keeping in mind the abovementioned factors.

Food and beverages are one of the major applications of citric acid. It is projected to grow at a CAGR of 7.5% in revenue from 2015 to 2022. Population expansion increased usage of beverages, and increased purchasing power of consumers are the main demand drivers.

With new food and beverage industries setting up globally, additional demand for citric acid will be created. Pharmaceuticals and cosmetics are emerging applications for citric acid and offer huge untapped opportunities. Household detergents and cleaners, and industrial applications, among others, are projected to exhibit average growth rates during the forecast period.  

Citric acid is a weak organic acid. Citric acid finds its applications in various end-use industries such as food and beverages, pharmaceuticals, cosmetics, industrial applications, household detergents and cleansers, and metal cleaning. Its versatile properties, such as tart taste, chelating & buffering, low toxicity, and preservative characteristics, are responsible for its growing consumption in various applications. It is widely used as an acidulant in the food and beverage industry. Citric acid is a versatile and safe alimentary additive. It is accepted worldwide as GRAS (generally recognized as safe), approved by the Joint FAO/WHO Expert Committee on Food Additives.

Rising demand for innovative food and beverage products with blends of different flavors. The increasing popularity of convenience food and beverages, such as packaged and ready-to-drink beverages, are the major factors driving the market growth. On the other hand, the emergence of lactic acid as a new substitute for citric acid and the intense competition faced by manufacturers for sourcing raw materials inhibit the market growth. However, there is huge growth potential in the untapped market, such as UAE, Egypt, KSA, and Syria, among others. Pharmaceuticals and cosmetics are two emerging applications of citric acid but show huge growth potential over the coming six years.

Europe is the largest market for citric acid, followed by North America. Both these regions accounted for two third of the market pie in 2014 and are projected to maintain their dominance over the next six years. The Asia Pacific and RoW regions are projected to be the fastest-growing markets. With increasing population, rise in spending power, and development of new food and beverages industries in these regions, additional demand for citric acid will be created. China is one of the single largest markets for citric acid. It accounts for around 30% - 35% of the worldwide production of citric acid. China is not only one of the largest producers but also one of the largest exporters. It accounts for 40% – 45% of worldwide exports of citric acid. Chinese suppliers sell their citric acid at the lowest price possible to bring in hard currency, making it extremely hard for European suppliers to compete.

To maintain their market position, key players adopted different competitive strategies. In contrast, some adopted new product development strategies to serve various applications. On the other hand, some adopted the development of new technologies for producing citric acid, which could help in cost reduction. Players on the regional level are targeting the global as well as regional export markets. Global players are also focusing on acquiring players at the regional level to increase their market presence and develop a new customer base. Cargill, Archer-Daniels-Midland, Tate & Lyle PLC, COFCO Biochemical (AnHui) Co., Ltd., JUNGBUNZLAUER SUISSE AG, Weifang Ensign Industry Co., Ltd., and RZBC Group Co. Ltd are some of the major players present in this market.

Based on geography, the global lactic acid market is segmented into the following regions

  • North America
  • The U.S.
  • Canada
  • Mexico
  • Europe
  • Germany
  • France
  • U.K
  • Italy
  • Russia
  • Rest of Europe
  • Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • Rest of Asia Pacific
  • Rest of the World
  • Brazil
  • Rest of RoW 

In 2014, Europe and North America accounted for more than 65% of the market in terms of revenue and volume and were projected to maintain their dominance in the future. However, Asia Pacific is projected to be the fastest growing market at a CAGR of 7.9% from 2015 to 2022. China is not only the major consumer of citric acid but one of the major producers and exporters also. 

RoW regions also offer huge market potential and are projected to grow at a CAGR of 5.5% from 2015 to 2022 in terms of volume. Countries such as Saudi Arabia, Egypt, UAE, and Syria offer significant market opportunities.

Frequently Asked Questions :

The market for Citric Acid is expected to reach US$ XX Bn in 2022.

The Citric Acid market is expected to see significant CAGR growth over the coming years, at XX%.

The report is forecasted from 2015-2022.

The base year of this report is 2021.

ADM, Cargill, Incorporated, Tate & Lyle, Jungbunzlauer Suisse AG, Kenko Corporation, Pfizer, Inc., Cofco, Huangshi Xinghua Biochemical Co. Ltd, Foodchem International Corporation, RZBC Group, Weifang Ensign Industry Co., Ltd., Danisco A/S, Gadot Biochemical Industries Ltd., S.A. Citrique Belge N.V., BASF SE, Associated are some of the major players in the global market

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Trusted By
Godaddy
Published Date:  Mar 2016
Category:  Chemicals
Report ID:   57758
Report Format:   PDF
Pages:   120
Rating:    4.4 (65)
Delivery Time: 24 Hours to 48 Hours   
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