Press release
Citric Acid Market Segments 2024-2033 | Size, Share And Insights
Coating Additives Market
The Business Research Company presents an extensive market research report on the ""Citric Acid Global Market Report 2024,"" furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the Citric Acid industry. This report on Citric Acid market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The citric acid market size has grown strongly in recent years. It will grow from $4.19 billion in 2023 to $4.54 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period can be attributed to increased food and beverage industry, pharmaceutical applications, cleaning and chelating agent, preservation and flavoring, and increased industrial applications. The citric acid market size is expected to see strong growth in the next few years. It will grow to $6.28 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%.
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Key Market Players:
Jungbunzlauer Suisse AG, Cofco Biochemical Co. Ltd., Archer Daniels Midland Company, Cargill Incorporated, Gadot Biochemical Industries Ltd., Tate & Lyle PLC
Market Drivers:
According to the Citric Acid Market Report 2024 by The Business Research Company, Major companies operating in the citric acid market are increasing their focus on introducing innovative mineral blends, such as Cal2Mg, to gain a competitive edge in the market. Cal2Mg is a composition of calcium citrate and magnesium citrate that provides additional nutritional benefits. For instance, in January 2022, Gadot Biochemical Industries Ltd., an Israel-based biochemical company, launched Cal2Mg, a new mineral blend that is specifically designed to support optimal bone health. Each 1 gram of Cal2Mg contains 100 mg of calcium and 50 mg of magnesium citrate, which provides 10% of the recommended daily allowance (RDA) of calcium and 14% of the RDA of magnesium.
More information about the Global Citric Acid Market Report -
https://www.thebusinessresearchcompany.com/report/citric-acid-global-market-report
Market segments for Citric Acid include:
1) By Form: Liquid, Anhydrous
2) By Key Function: Acidulant, Preservative, Antioxidant, Sequestrant
3) By Application: Food And Beverage, Bakery, Confectionery, Dairy, Pharmaceutical, Personal Care, Other Applications
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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