Citric Acid Market Global Industry Survey by Professional Top Brands Until 2023 | Cargill, Incorporated , Tate & Lyle, COFCO Biochemical CO., LTD , RZBC GROUP CO., LTD. , Gadot Biochemicals Industries LTD., Gadot Biochemicals Industries LTD

Citric Acid Market:-

The global citric acid market has been featuring stable growth over the past few years and is projected to achieve high revenue over the forecast period of 2018-2023, unveils Market Research future (MRFR) in a detailed research report. Owing to its remarkable physicochemical properties and environmentally benign nature, the use of citric acid across various industry verticals has increased rapidly, including food & beverage, cosmetics & personal care, and pharmaceutical industry.

Competitive Dashboard:-

Cargill, Incorporated (U.S.), Tate & Lyle (UK), COFCO Biochemical (Anhui) CO., LTD (China), RZBC GROUP CO., LTD. (China), Gadot Biochemicals Industries LTD. (Israel), Gadot Biochemicals Industries LTD. (Israel), S.A. Citrique Belge N.V. (Belgium), Archer Daniels Midland Company (U.S.), Merck KGaA (Germany), Jungbunzlauer Suisse AG (Switzerland), Huangshi Xinghua Biochemical Co.Ltd. (China), Weifang Ensign Industry Co., Ltd (China), and Pfizer Inc. (U.S.)

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The food & beverage industry directly influences the growth of the global citric acid market. The strong demand of consumers for naturally occurring functional products continues to drive the demand for citric acid as an ingredient in the food & beverage industry. Owing to its capability of reducing microbiological activity, properties of being acidic, and antioxidant properties, it used widely used as a food additive in drinks, confections, and in preparation of citrates and flavoring extracts. Citric acid also experiences high demand in the cleaning of industrial sites

Industry Updates:-

In September 2018, The Saudi arm of Veolia Water Technologies signed a deal with Saudi Bio-Acids Company to design and build the Middle East's first citric acid production facility in Jeddah. The plant is expected to have a production capacity of approximately 72,574t of critic acid anhydrous, critic acid monohydrate, and trisodium citrate within three years of becoming operational.

Regional Analysis:-

The global citric acid market spans across the regions of North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa. Asia Pacific is the largest market for citric acid. The expanding food industry which makes extensive use of citric acid, growing acceptance of carbonated beverages and processed foods are driving the growth of the citric acid market in the Asia Pacific. China is one of the major contributors to the Asia Pacific market and held a substantial share of the global market in 2017.

Comparatively low cost of production, the growth of end-user industries such as cosmetics and personal care, pharmaceuticals, and home care are also stimulating the growth of the global citric market.

North America and Europe are also major markets for citric acid and projected to showcase high growth over the forecast period. The Middle East & Africa market is at nascent stage, however, the growth of the food & beverage and cosmetics industry in the Gulf economies is likely to provide opportunities for growth over the forecast period. Latin America holds the least share of the market and is expected to have limited growth over the forecast period.

Detail Analysis of "Citric Acid Market 2018-2023"@ https://www.marketresearchfuture.com/reports/citric-acid-market-1743

Segmentation:-

The global citric acid market has been segmented based on forms, function, and application. By form, the global citric acid market has been segmented into powder and liquid. The powder segment has been further segmented into anhydrous, monohydrate, dihydrate, and others. By function, the global citric acid market has been segmented into acidulant, antioxidant, preservative/sequestrant, a chelating agent, emulsifying agent, buffering agent, flavoring agent, and others. By application, the global citric acid market has been segmented into food and beverage, cosmetics and personal care, pharmaceuticals, detergents and cleaners, and others.

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This release was published on openPR.