The global citric acid market is anticipated to grow at a considerable CAGR of 4.5% during the forecast period (2024-2031). The increasing usage of digestive citric acid-based food & beverages and pharmaceuticals sector in the various region such as North America and Europe is propelling the growth of the market. For instance, according to the World Health Organization (WHO), approximately 65 to 70 million people in North America experience digestive system problems. This, in turn, has led to an increase in the demand for digestive citric acid-based food & beverages and pharmaceuticals in the region. Moreover, the German Nutrition Society (DGE) stated that, rising awareness amongst European consumers regarding citric acid for maintaining health.
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Rising acquisitions, product approval, collaborations among the major players in the market also propel the growth of the market. For instance, in April 2021, Jungbunzlauer has decided to embark on a further expansion of the existing Citric plant in Port Colborne, Canada. This decision comes as a response to a consistently strong and growing global demand for citric acid and citrates as functional and bio-based ingredients in products ranging from food, beverages, detergents, and industrial applications, driven by customers looking for safe and biodegradable products coming from sustainable production plants. The expansion will further enhance our competitive position for citric acid, sodium citrate, and potassium citrate, servicing customers with high-quality products in North and Latin America.
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Market Coverage
- Segment Covered-
o By Form
o By Application
- Regions Covered
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- Jungbunzlauer Suisse AG, Cofco Biochemical, Archer Daniels Midland Co, Cargill, Inc, Gadot Biochemical Industries Ltd.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Citric Acid Market Report Segment
By Form
- Liquid
- Anhydrous
By Application
- Food and beverage
- Pharmaceutical
- Personal Care
- Other Applications (Household Detergents and Cleaners)
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