According to the new market research report by IndustryARC titled “Citric Acid Market By End-Use Industry (Food & Beverage, Pharmaceutical, Soap & Detergent, Printing and Others), By Application (Acidulant, Stabilizer, Cleaning Agent, Binding Agent and Others) & By Geography – Forecast (2018-2023)”, the market is driven by the growth of the food, pharmaceutical, cosmetics, and toiletries industries.
Asia Pacific to dominate the Citric Acid Market during the forecast period
Asia Pacific is likely to dominate the Citric Acid Market during the forecast period. China is the major consumer of household detergents, with citric acid finding its application in detergents. Europe occupies the second position in the market, followed by US, due to the consumption of citric acid across the world. Africa, Japan, and Middle East hold an equal share due to detergent consumption in household activities. In the Americas, the large end user segment is the food and beverage segment, followed by the industrial segment and pharmaceutical segment. In Europe, citric acid is used as acidulates in the food & beverage industry.
Selected Analysis done in the full Report:
Citric acid has high antioxidant properties due to which it is used as an excipient in pharmaceutical preparations. The salts of citric acid are used as anticoagulants due to their Calcium chelating ability. 10% of citric acid is used in non-food related products such as cosmetics, pharmaceuticals, and chemical industry. In Biotechnology and pharmaceutical industries, citric acid is used as a substitute for nitric acid to enhance high purity process piping. It is even used in effervescent systems. These systems are applied in denture cleaning products, pain relief and vitamin tablets. Citric acid is also used to control the pH of the system. It acts as a buffering system which is used in pharmaceutical and cosmetic applications to preserve the stability.
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Excerpts on Citric Acid Market Growth Factors
• Citric acid is used in the food canning industry to lower the pH and stop enzymatic oxidation. It also plays an important role in the stability of the frozen food.
• Citric acid is used as a blood anticoagulant as the citrate ion chelates the Calcium, thereby preventing blood from clotting.
• Citric acid is an environmentally friendly chemical. Hence, it is used as a major chemical in the industrial sector. This factor drives the demand for the Citric Acid Market.
• Citric acid is used in the manufacturing of detergents, where Sodium Citrate is used to increase the effectiveness of surfactants due to its high solubility and degradability.
Key players of the Citric Acid Market
The main key players of the Citric Acid Market are Tate & Lyle, Archer Daniels Midland Company (ADM), JungbunzlauerAG,Cargill Corporation, and Hoffmann-La Roche AG. Tata &Lyte is the largest company in the Citric Acid Market. It has a plant capacity of 165000 MTPA globally. Archer Daniels Midland Company is the second largest company in the world and the largest company in the US. It operates in divisions such as oil seed products, corn starch products, bio-products, and other grains. Jungbunzlauer AG is specialized in producing citric acid. Cargil Corporation is one of the world’s largest agribusiness companies in the world. It started producing citric acid in 1991. Hoffmann-La Roche AG manufactures flavors, fragrances, vitamins, carotenoids and genetic- engineering products.
Citric Acid Market is segmented as below
Citric acid is used in industries such as pharmaceuticals, cosmetics, and toiletries.
A. Citric Acid Market By Grade
1. Food grade
2. Industrial Grade
3. Pharmaceutical Grade
B. Citric Acid Market ByForm
C. Citric Acid Market By End Use Industry
1. Food & Beverage
3. Soap & Detergent
D. Citric Acid Market By Application
3. Cleaning Agent
4. Binding Agent
E. Citric Acid Market By Geography( covers 11+ countries)
F. Citric Acid Market Entropy
Companies Citied / Interviewed
1. COFCO Bio-chemical (Anhui) Co., Ltd
2. Yixing-union Biochemical Co., Ltd
3. Jiangsu GadotNuobei Biochemical Co., Ltd
4. Shandong JuxianHongde Citric Acid Co., Ltd.
5. HuangshiXinghua Biochemical Co., Ltd
6. LaiwuTaihe Biochemical Co., Ltd
7. Shandong Hongshide Chemical Co., Ltd
8. Tate & Lyle
9. Archer Daniels Midland Company
10. Hoffmann-La Roche AG
What can you expect from the report?
The Citric Acid Market report is Prepared with the Main Agenda to Cover the following 20 points:
1. Market Size by Product Categories & Application 11. Demand Analysis (Revenue & Volume)
2. Market trends & Relevant Market Data 12. Country level Analysis
3. Manufacturer Landscape 13. Competitor Analysis
4. Distributor Landscape 14. Market Shares Analysis
5. Pricing Analysis 15. Value Chain Analysis
6. Top 10 End user Analysis 16. Supply Chain Analysis
7. Product Benchmarking 17. Strategic Analysis
8. Product Developments 18. Current & Future Market Landscape Analysis
9. Mergers & Acquisition Analysis 19. Opportunity Analysis
10. Patent Analysis 20. Revenue and Volume Analysis
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