The global citric acid market is expected to
reach USD 3.83 billion by 2025, growing at a CAGR 4.9%, according to a new
report by Grand View Research, Inc. Increasing demand for the product as an
acidulant in food & beverages application is expected to be a major factor
driving the market.
The market
is highly competitive in nature with companies increasing their production
capacities to serve the growing demand. The companies compete on the basis of
product superiority, manufacturing technologies, and adherence to regulations
pertaining to citric acid products in an attempt to increase their revenue.
The industry
is marked by the presence of major participants focusing on R&D activities
to come up with application-specific citric acid products. These
well-established players account for a relatively larger share of the annual
production of citric acid and have a competitive edge over the smaller players
as they have a prevailing goodwill in the market.
The industry
is marked by the presence of numerous small unorganized players that deal
majorly with the local distribution and cater to the demand in domestic and
adjoining economies. These small players in the industry do not have a
significant impact on the market dynamics due to low production volumes and
smaller geographic reach.
Full research report on citric
acid marke analysis: https://www.grandviewresearch.com/industry-analysis/citric-acid-market
Further key findings from the report suggest:
·
Powder grade citric acid dominated the
industry in 2016 accounting over 63% of the overall market on account of its
extensive use in food & beverages for preservation and flavoring
·
Liquid form is anticipated to ascend at a
CAGR of 5.1% over the forecast period on account of high demand in food &
beverages industry owing to its beneficial properties such as acidification,
texture modification, and flavor enhancement
·
Food & beverages application segment is
anticipated to ascend at an estimated CAGR of 5.0% over the forecast period.
The growing demand for processed food products with high stability and shelf
life is expected to have a positive impact on the industry growth.
·
Germany citric acid market was valued at
USD 220.1 million in 2016 and is anticipated to witness a high growth rate over
the forecast period. The high growth rate was attributed to the presence of
major pharmaceutical manufacturers in the region such as Bayer AG; Merck; and
Schering AG.
·
The industry is highly competitive with the
presence numerous small and medium scale manufacturers, however is dominated by
a few major industry players including Kenko Corporation; Archer Daniels
Midland (ADM) Company; Tate & Lyle plc; and Danisco A/S
View more reports of this category by Grand
View Research at: https://www.grandviewresearch.com/industry/food-additives-nutricosmetics-flavors-and-fragrances
Grand View Research has segmented the
global citric acid market report on the basis of form, application, and region:
Citric Acid
Form Outlook (Volume, Kilotons; Revenue, USD Million; 2014 - 2025)
·
Liquid
·
Powder
Citric Acid
Application Outlook (Volume, Kilotons; Revenue, USD Million; 2014 - 2025)
·
Pharmaceutical
·
Food & beverages
·
Others
Citric Acid
Regional Outlook (Volume, Kilotons; Revenue, USD Million; 2014 - 2025)
·
North America
o
U.S.
·
Europe
o
Germany
·
Asia Pacific
o
China
o
India
·
Central & South America
·
The Middle East & Africa
Access
press release by Grand View Research: https://www.grandviewresearch.com/press-release/global-citric-acid-market
About
Grand View Research
Grand View
Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
