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Citric Acid Market Share, Growth, Outlook to 2025

09-05-2018 12:13 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Coherent Market Insights

Citric acid is a weak organic acid predominantly used in food, beverages, cosmetics, pharmaceutical, and chemical applications. Citric acid is a natural preservative, chelating agent, flavoring agent, and acidulant. Naturally citrus acid occurs in citrus fruits such as grapes, oranges, and lemons. Industrial production of citric acid is carried out by fermentation of A. Niger. Citric acid is among the most widely used food additive worldwide and is approved as Generally Recognized As Safe (GRAS) by the U.S. Food and Drugs Administration.

Food and beverages segment held a market share of around 73% in the global citric acid market. Carbonated soft drinks accounted for major share in food and beverage segment. The pharmaceutical industry utilizes citric acid as an excipient due to its anti-oxidant properties. Citric acid also being a chelating agent is used in detergents and soaps. It is used in home care materials and is also utilized for regeneration of ion exchange materials in water softeners.

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Market Dynamics

Increasing adoption of citric acid by food industry has contributed to its market growth. The food industry utilizes citric acid for fermenting, catalyzing, preserving, and flavoring. The use of citric acid in food & beverages increases the shelf life of products by creating an acidic environment, which is non-conducive for microorganism survival.
Utilization of lactic acid as a substitute for citric acid is expected to hinder growth of the citric acid market. Lactic acid is also used as a food preservative, curing agent, and flavoring agent. Moreover, concerns regarding using Genetically Modified Organism (GMO) sources for sucrose and glucose, which is used in the citric acid manufacturing process may restrain growth of the citric acid market.

Market Outlook
Europe held the dominant position in for citric acid market in 2017. The region is expected to account for around 28% of the global citric acid demand. This is largely due to the thriving food & beverage industry in the region. According to European Union statistics, the food industry in European Union was valued at US$ 1.08 trillion in 2014. The region also had a trade surplus of around US$ 35 billion due to the food & beverages industry

Asia Pacific is projected to be the fastest growing region in citric acid market due to the fast growing food & beverages industry in the region. According to Indian Brand Equity Foundation (IBEF), India’s was the sixth largest food & beverage industry in the world. China was the largest producer of citric acid in 2016, and it is projected to maintain its dominance in terms of production over the forecast period. According to UN Comtrade statistics, China held a share of around 48% in world exports of citric acid. India, Japan, and European Union were among the major importers of citric acid from China. Players based in China are focused on geographic expansion. Anhui BBCA Biochemical Co., Ltd in 2014, commissioned a 60,000 ton/year plant in Hungary. The plant will serve the food processing industries in Central and Western Europe.

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Key Market Players
Market players have responded to the steadily increasing market demand for citric acid by capacity expansions. Jungbunzlauer Suisse AG in 2018, announced the plans for a new citric acid manufacturing facility in Austria. Companies in China, which is projected to be among the fastest growing countries in the citric acid market have announced expansion to existing capacities. For instance, RZBC Group Co. Ltd. completed its capacity expansion in 2014. The total capacity of the company reached 250,000 mt/year, equivalent to 23% of the total capacity for citric acid in China.
Major players operating in the global citric acid market include Tate & Lyle plc, Jungbunzlauer Suisse AG, Cargill Inc., Archer Daniel Midlands Company, Anhui BBCA Biochemical Co. Ltd., Gadot Biochemical Industries Ltd., Huangshi Xinghua Biochemical Co.Ltd., and RZBC Group Co., Ltd.

There are Multiple Chapter to display the Global Citric Acid Market market some of them As Follow
Chapter 1, Definition, Specifications and Classification of Citric Acid Market , Applications of Citric Acid Market , Market Segment by Regions;
Chapter 2, Manufacturing Cost Structure, Raw Material and Suppliers, Manufacturing Process, Industry Chain Structure;
Chapter 3, Technical Data and Manufacturing Plants Analysis of Citric Acid Market , Capacity and Commercial Production Date, Manufacturing Plants Distribution, R&D Status and Technology Source, Raw Materials Sources Analysis;

Chapter 4, Overall Market Analysis, Capacity Analysis (Company Segment), Sales Analysis (Company Segment), Sales Price Analysis (Company Segment);
Chapter 5 and 6, Regional Market Analysis that includes United States, China, Europe, Japan, Korea & Taiwan, Citric Acid Market Segment Market Analysis (by Type);
Chapter 7 and 8, The Citric Acid Market Segment Market Analysis (by Application) Major Manufacturers Analysis of Citric Acid Market ;

Chapter 9, Market Trend Analysis, Regional Market Trend, Market Trend by Product Type Natural preservative, Chemical preservative, Market Trend by Application;
Chapter 10, Regional Marketing Type Analysis, International Trade Type Analysis, Supply Chain Analysis;
Chapter 11, The Consumers Analysis of Global Citric Acid Market ;
Chapter 12, Citric Acid Market Research Findings and Conclusion, Appendix, methodology and data source;
Chapter 13, 14 and 15, Citric Acid Market sales channel, distributors, traders, dealers, Research Findings and Conclusion, appendix and data source.

About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

Contact Us:
Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com

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