Citric Acid Market Overview 2017: Growth, Demand and Forecast Research Report to 2022
The global citric acid market has witnessed a positive growth in recent years, owing to the applications of citric acid in food and beverages, pharmaceuticals, household cleaners, animal feed, lubricants, chelating agents, plasticizers, metal cleaners, etc.
The latest report by IMARC Group titled, “Citric Acid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, finds that the global citric acid market reached a volume of around 2.3 Million Tons in 2016, growing at a CAGR of around 3.5% during 2009-2016. Citric acid, with the chemical formula C6H8O7, is a colourless and crystalline weak organic compound found in the juice of lemons and other sour fruits. Industrially, it is produced by the microbial fermentation of carbohydrates such as molasses, cane sugar, corn sugar, beet, etc. One of the major factors driving the demand for citric acid is its increasing usage in end-use industries. Furthermore, emerging markets such as Asia, Africa and Middle East are expected to exhibit above-average growth rates as a result of increase in population and improving living standards which will result in higher per capita consumption of beverages and convenience foods. As a result, the global citric acid market is further expected to grow, reaching a volume of around 2.7 Million Tons by 2022.
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Highlights of the global citric acid market:
Demand from emerging markets remains the major growth driver.
The food and beverage industry represents the largest end-use segment of the global citric acid market.
China represents the largest producer of citric acid, whereas, Western Europe represents the largest consumer.
Used in a variety of industries, citric acid is one of the most important organic acids. Some of the major end-use segments of citric acid include food and beverages, household cleaners, pharmaceuticals, lubricants, animal feed, chelating agents, metal cleaners and plasticizers. In the food industry, it is used in carbonated drinks as an acidulant which accounts for the majority of its use. The household cleaners and detergents industry is the second largest consumer of citric acid. In this industry, it is mainly used as a replacement for phosphates in concentrated liquid detergents as it does not contribute to the eutrophication of water systems. The third largest consumer of citric acid is the pharmaceutical and cosmetics industry. It is used in pharmaceutical products as result of its safe and nontoxic nature, pleasant acidic taste, buffering and chelating properties and high water solubility. In this segment, the major applications include prescription pharmaceuticals, antacids, dentifrices, etc. In the cosmetics and toiletries segment, shampoos and conditioners account for most of the consumption of citric acid.
global citric acid market
On the basis of region, China represents the largest producer of citric acid, whereas Western Europe represents the largest consumer. Other major regions include the United States, Middle East and Africa, Central/Eastern Europe, Brazil and India. On evaluating the competitive landscape of the market, the report finds that the market is highly competitive with the presence of a number of established players. Some of the major players operating in the global citric acid market are COFCO Biochemical, Lemon Biochemical, Luxin Jinhe, Weifang Ying Xuan, Jungbunzlauer and Tate & Lyle.
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The report has examined the global citric acid market on the basis of:
Food and Beverages
Household Detergents and Cleaners
Weifang Ying Xuan
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