Press release
Citric Acid Market to Hit 3.3 Million Tons by 2028: IMARC Group
IMARC Group, a leading market research company, has recently releases report titled "Citric Acid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" The study provides a detailed analysis of the industry, including the global citric acid market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.How Big is the Citric Acid Market?
The global citric acid market size reached 2.8 Million Tons in 2022. Looking forward, IMARC Group expects the market to reach 3.3 Million Tons by 2028, exhibiting a growth rate (CAGR) of 2.87% during 2023-2028.
What is Citric Acid?
Citric acid is a weak organic acid commonly found in citrus fruits like lemons and oranges. It is widely used as a natural preservative and flavor enhancer in the food and beverage industry, often added to products like soft drinks, candies, and processed foods to impart a sour or acidic taste. Beyond its culinary applications, citric acid has various industrial uses, including as a cleaning agent, in cosmetics, and in pharmaceuticals. It acts as a chelating agent, binding to metals and helping to remove them from solutions, which makes it useful in water treatment processes.
Additionally, citric acid is used in the medical field as an alkalizing agent and as a component in certain medications. Its versatility and non-toxic nature make it a popular additive in multiple industries.
Request For a PDF Sample Report: https://www.imarcgroup.com/citric-acid-manufacturing-plant/requestsample
What Are the Growth Prospects and Trends in the Citric Acid Market?
The extensive utilization of citric acid in the food and beverage sector, particularly in sodas, fruit juices, and processed foods represents one of the key factors driving the growth of the market across the globe. The rising demand for convenience foods and beverages is driving the need for citric acid. The increased awareness about synthetic additives is leading consumers to prefer natural ingredients, which is boosting the demand for citric acid as a natural preservative.
Citric acid is commonly used in skincare and haircare products due to its pH-adjusting and chelating properties. The growth of the cosmetics industry, therefore, is directly impacting the market. Citric acid is used as an excipient in pharmaceutical formulations and as an alkalizing agent in certain medical treatments, which is further contributing to its market growth.
The acid's effectiveness in removing stains and limescale makes it popular in household cleaning products and detergents, which is expanding its industrial applications, thus facilitating the market growth.
Who Are the Key Players Operating in the Citric Acid Market?
The competitive landscape of the global citric acid market has also been examined along with the profiles of the key players.
Some of these key players include:
• Archer Daniels Midland Company
• Cargill, Incorporated
• Tate & Lyle PLC
• Jungbunzlauer Suisse AG
• Cofco Biochemical (Anhui) Co., Ltd.
• Huangshi Xinghua Biochemical Co. Ltd.
• RZBC Group Co. Ltd.
• Weifang Ensign Industry Co., Ltd.
• Gadot Biochemical Industries Ltd.
• S.A. Citrique Belge N.V.
What is Included in Market Segmentation?
The report has categorized the market based on application and form.
Breakup by Application:
• Food and Beverages
• Household Detergents and Cleaners
• Pharmaceuticals
• Others
Breakup by Form:
• Anhydrous
• Liquid
Regional Analysis:
• Western Europe
• United States
• China
• Middle East and Africa
• Central/Eastern Europe
• Brazil
• India
Ask Analyst for Customization and Explore full report with TOC & List of Figures: https://www.imarcgroup.com/request?type=report&id=642&flag=C
Key Highlights of the Report:
• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
Media Contact:
Company Name: IMARC Group
Contact Person: Elena Anderson
Email: sales@imarcgroup.com
Phone: +1-631-791-1145
Address: 134 N 4th St
City: Brooklyn
State: NY
Country: United States
Website: https://www.imarcgroup.com
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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