Press release
Citric Acid Market Share, Growth Rate, Manufacturers: Tate & Lyle plc, Jungbunzlauer Suisse AG, Cargill Inc., Archer Daniel Midlands Company, Anhui BBCA Biochemical Co. Ltd., Gadot Biochemical Industries Ltd.
Citric acid
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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.
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.
Key Market Players
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.
Market Taxonomy
On the basis of product type, the global citric acid market is segmented into:
Anhydrous
Hydrous
On the basis of end-use industry, the global citric acid market is segmented into:
Food & Beverages
Chemical
Cosmetics
Pharmaceutical
Others
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