According to ChemAnalyst report, “Global Citric Acid Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Type, Sales Channel, Regional Demand, Company Share, 2015-2035”, The Citric Acid market is expected to reach approximately 4800 thousand tonnes in 2035 at a CAGR of 4.05%. The Citric Acid market is expected to expand throughout the projected period with the demands from the Food & Beverages, Pharmaceuticals, Detergent & Cleaning, Cosmetic & Personal Care, and other end-use sectors.
Citric Acid is a natural preservative that gives foods and drinks a sour or acidic flavour. It is a weak acid with a chemical formula of C6H8O7 and is found naturally in citric fruits like lemon and oranges. Citric acid is produced using molasses, waste feedstock, and fruit peels as its raw materials and is inexpensive to produce. It is non-toxic, non-corrosive, and biodegradable properties driving the interest of the food and beverage sector. It works as an excellent preservative and is rich in antioxidants. Citric acid is employed as a preservative in soups, candy, wines, juices, creams, jams and carbonated beverages. It is also used in the pharmaceutical industry and is growing its demands in the cleaner and detergent industry.
The primary factor driving the Citric Acid market is the food and beverage industry. Citric Acid is frequently employed as a preservative in ready-to-eat items. It is also expanding its market in detergents and cleaners. Unlike phosphates, citric acid does not contribute to the eutrophication of water bodies and is desirable from an environmental perspective. Moreover, availability in abundance, low price, and large-scale applications boost the growth of the market.
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The Citric Acid market is segregated based on end-use, sales channel, and region. Based on demand by region, Asia Pacific was the dominant region for the consumption of Citric Acid in 2021 and is anticipated to maintain this position in the forecast time of 2035 with a CAGR of 4.6%. In 2021, The second largest consumer of Citric Acid was Europe, and is expected to maintain its position in the forecast period.
Based on type, the global citric acid market is divided into Anhydrous and Monohydrate types. The Anhydrous type is dominating the market consuming approximately 59% of the global market in 2021 and expected to grow at a CAGR of 4.17% by 2035.
Based on end-uses, the Citric Acid market is segregated Food & Beverages, Pharmaceuticals, Detergent & Cleaning, Cosmetic & Personal Care, and others. The highest demand for Citric Acid is by the Food & Beverages industry, and it is anticipated to stay the biggest shareholder in the coming decade with a CAGR of 4.5%. Interestingly, the Detergent & Cleaning sector is likely to grow with an impressive CAGR of 4.9%. Citric Acid’s major applications are in the food items to increase their shelf life and add a tangy flavor to carbonated beverages.
“Global Citric Acid Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Type, Sales Channel, Regional Demand, Company Share, 2015-2035”, the significant players functional in the Global Citric Acid are RZBC Group Co., Ltd., TTCA Co., Ltd., Jungbunzlauer, Jiangsu Guoxin Union Energy Co., Ltd, Yixing Xielian Biochemical Co. Ltd., COFCO Biochemical (AnHui) Co., Ltd., and Laiwu Taihe Biochemical Co. Ltd.
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“The rapidly increasing demand for ready-to eat food items call for the need of preservatives in the food and beverage sector which is expected to lead the expansion of the Citric Acid market in the forecast period until 2035. Consistently growing demand for citric acid due to its due to its non-toxic, non-corrosive, and biodegradable properties makes it a perfect pick for preservative in the food and beverage industry. Plus, in the upcoming times citric acid will be utilized for the manufacture of detergents and cleaners and citric acid doesn’t contribute to water pollution and is more environment friendly in comparison to typical detergents containing phosphates driving the market expansion in the upcoming years. “said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.
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