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Ammonium Ferric Citrate Market - Global Industry Analysis 2024
Ammonium Ferric Citrate Market
The demand for ammonium ferric citrate is driven by increased consumption in pharmaceutical and food & beverage industries. Food & beverage industry uses ammonium ferric citrate for making iron supplementary beverages. These supplements are generally given to children having iron deficiency. Iron deficiency affects the physical as well as mental growth in children which ultimately results in diseases such as anemia and other abnormalities.
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Ammonium ferric citrate on consumption easily synthesizes into iron and gets readily absorbed into the blood. Moreover, ammonium ferric citrate acts as an acid regulator for changing or neutralizing the pH levels, hence is suitably used in manufacturing of food products. In pharmaceutical industry, ammonium ferric citrate is used mainly in medical imaging. Ammonium ferric citrate acts as a contrast agent, which improves the visibility of blood vessels for better health diagnosis. Magnetic resonance imaging and X-ray attenuation techniques are considered as major medical imaging applications for ammonium ferric citrate.
In terms of global demand, Asia Pacific is likely to show the fastest growth for ammonium ferric citrate by the end of forecast period. Demand for ammonium ferric citrate is expected to grow, owing to increasing developments in pharmaceutical industry among other end-users. China is currently one of the major producer and distributor of ammonium ferric citrate. China distributes ammonium ferric citrate to various regions such as Europe and South America.
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Meanwhile, India has good international market for ammonium ferric citrate, owing to its good distribution network mainly in North America. China is likely to lead followed by India and Japan by the end of 2020. Other Asia Pacific countries including Singapore and Vietnam are anticipated to have emerging ammonium ferric citrate market, in the coming years. Considering the food additives market, present scenario reflects no threat of replacement for ammonium ferric citrate, which can be considered as a driving factor for the growth of ammonium ferric citrate.
Owing to such a situation, India is expected to lead by the end of forecast period. Rest of the world region is anticipated to illustrate a slow paced growth in demand for ammonium ferric citrate over the coming years. Brazil and South Africa are expected to provide better opportunities for the ammonium ferric citrate market by 2024. North America and Europe are expected to depict a sluggish growth by 2024, owing to their established markets and heavy regulations on production of ammonium ferric citrate.
Some of the major players dominating the ammonium ferric citrate market include Shreenath Chemicals, West Bengal Chemical Industries Limited, New Alliance Dye Chemicals Private Limited and Eminenco Pharma Limited.
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