The Citric acid market is driven by factors like wide applicability of citric acid as an acidulant, emulsifier, preservative, sequestrant, flavorant, and buffering agent in various products of non-food and food industries. Rising applications of citric acid in detergents and cleansers for their biodegradability and other ecofriendly properties are also key driving factors of market.
The Global Citric Acid Market was worth USD 2.9 billion in 2016 and estimated to be growing at a CAGR of 5.5 %, to reach USD 3billion by 2021. The Citric Acid market is showing evident potential in the mentioned forecasting period.
The market continues to gain momentum with the heavy demand for functional food additives from the rising processed food & beverage market.
Citric acid is an organic acid found in citrus fruits.
It is mainly used as acidulant to add sour taste to soft drinks and foods and also used as preservative in various kinds of processed foods. It can also be used in the manufacturing of various detergents and cleaners, pharmaceuticals, industrial applications and personal care products.
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The Global market for Citric Acid is segmented on the basis of form, application, Function and grade. The market segmentation on the basis of form is done under Anhydrous and Liquid.
Based on application, market is further segmented into Food, Pharmaceuticals & Cosmetics, Reagents and Others, where food segment is further segmented into Beverages, Confectionaries, Convenience food products, Dairy products. Of which, Convenience food products segment is further segmented into Creams, fats and fillings, Soups and Sauces, oils.
The market segmentation based on function is done under Acidulant, Antioxidant, Preservative, and Sequestrant. On the basis of grade, market is further segmented into Pharmaceutical, Industrial.
Food segment dominates the market with around three fourths of the share.
Based on geography, the global market is analyzed under various regions namely North America, Europe, Asia-Pacific, Latin America and Middle East and Africa. Europe and Asia-Pacific are the major markets for Citric acid.
European revenue was triggered by demand for natural food additives from its food and beverage industry. Asia-Pacific position can be attributed to china being major exporter and consumer of citric acid.
Some of the major companies dominating the market, by their products and services include Tate & Lyle plc, Archer Daniels Midland Company, Pfizer Inc., and Gadot Biochemical Industries.
- Anhydrous and
- Y-o-Y Growth Analysis, By Form
- Market Attractiveness Analysis, By Form
- Market Share Analysis, By Form
- Food Products
- Convenience food products
- Creams, fats and fillings
- Soups and Sauces
- Diary products
- Pharmaceuticals, and Cosmetics
- Y-o-Y Growth Analysis, By Application
- Market Attractiveness Analysis, By Application
- Market Share Analysis, By Application
- Y-o-Y Growth Analysis, By Function
- Market Attractiveness Analysis, By Function
- Market Share Analysis, By Function
- Y-o-Y Growth Analysis, By Grade
- Market Attractiveness Analysis, By Grade
- Market Share Analysis, By Grade
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- Segment-level analysisin terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
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