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.
Browse full research report on Citric Acid Market: 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
Browse more reports of this category
by Grand View Research: 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
- U.S.
- Europe
- Germany
- Asia Pacific
- China
- India
- Central &
South America
- The Middle
East & Africa
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.
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