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Market Overview:
The Citric Acid Market size is estimated to reach $4.45 Billion by 2030, growing at a CAGR of 4.16% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “Citric Acid Market – By Form (Liquid, Powder), By Grade: (Food Grafe, Industrial Grade, and Pharmaceutical Grade),By Application: (Food And Beverage (Bakery, Confectionery, Dairy, Beverages, Others), Pharmaceutical, Personal Care, Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030”
Rising applications in the food and beverage industry, coupled with innovations in natural preservatives, and the increasing demand for eco-friendly and sustainable ingredients, are key drivers of market expansion for the Citric Acid industry during the forecast period.
Asia Pacific Dominated the Market in 2023
Asia-Pacific (Citric Acid Market) held the largest share with 40% of the overall market in 2023. The growth of this region is owing to the increasing predominance of cardiovascular ailments. Citric acid is utilized as a decalcifying agent for the excised calcified human heart valves. Citric acid is utilized to assist in destroying harmful bacteria and contaminations on the surface of the skin that may be typical in people with diabetes, senior citizens, and people who smoke. Citric acid is also utilized as a chelating agent. These determinants are propelling the growth of the Citric Acid Market in the Asia-Pacific region.
Citric Acid Market: Key Takeaways
Dominance of Food Grade Citric Acid in the Market
The food grade segment is projected to maintain its dominance in the Citric Acid market during the forecast period. This is largely driven by its extensive use in the food and beverage industry as a natural preservative and flavoring agent. Citric acid's ability to enhance the shelf life of perishable products, especially in the bakery, confectionery, and dairy sectors, is one of its key attributes. With rising consumer demand for natural ingredients and clean-label products, food manufacturers are increasingly relying on food-grade citric acid. Its non-toxic, biodegradable, and eco-friendly nature makes it an appealing choice for companies aiming to meet sustainability goals, fueling its market growth.
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2. Rising Demand for Liquid Citric Acid in Beverage Applications
Liquid citric acid is gaining traction due to its solubility and ease of use in beverage formulations. This form is preferred in a variety of beverages, including soft drinks, flavored waters, and energy drinks, where it acts as a natural acidulant, providing a sharp, tangy taste. As the global beverage industry continues to expand, particularly with the surge in health-conscious products like organic juices and plant-based beverages, the demand for liquid citric acid is expected to grow. Additionally, its application in food processing and ready-to-drink beverages further boosts its market presence, making it a vital segment in the citric acid industry.
Scope of the Report:
Recent Developments:
• In November 2022, Gadot Biochemical Industries unveiled its latest offering, Cal2Mg, a blend of calcium citrate and magnesium citrate. This innovative product is manufactured through a distinct granulation technique, supplemented with a binder.
• In June 2022, Jungbunzlauer, a prominent player in the citric acid market, introduced a novel product called Monomagnesium citrate. This monobasic magnesium salt, characterized by a 1:1 molar ratio, serves as a vital mineral source in functional foods, beverages, and dietary supplements.
Citric Acid Market: Competitive Landscape
Key companies profiled in the Citric Acid Market are Archer Daniels Midland Company (ADM), Jungbunzlauer Suisse AG, Cargill, Incorporated, Foodchem International Corporation and others.
About IndustryARC™:
IndustryARC primarily focuses on Market Research and Consulting Services specific to Cutting Edge Technologies and Newer Application segments of the market. The company’s Custom Research Services are designed to provide insights into the constant flux in the global demand-supply gap of markets.
IndustryARC’s goal is to provide the right information required by the stakeholder at the right point in time, in a format that assists an intelligent and informed decision-making process.
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