The Global Citric Acid Market is projected to reach a value of over USD 5.1 billion by 2027 at a CAGR of around 5.4%.
Citric Acid is one of the most preferred weak organic acid used as an acidulant, preservative, emulsifier, flavorant, sequestrant and buffering agent. Naturally, it is found in the lemons, lime, oranges, grapefruit and other citrus fruits. Lemons and limes have high concentrations of the acid, it can constitute as much as 8% of the dry weight of these fruits. In food and beverage, citric acid is used as a natural preservative in processed food & beverages. It is also used as flavoring agents, stabilizer, anti-oxidant in a diary, processed and canned foods for regulating acidity, pH, temperature, and taste of the perishable food items. Also, it has gained popularity in cosmetics, nutraceutical, pharmaceutical, cleaning products, and personal care products.
Market Driver:
Food and beverage is one of the prominent application areas of the citric acid owing to its extensive application in the manufacturing and processing of the jams, jellies, powdered beverages, fruit-based drinks, cheese processing, frozen foods, candies, etc. to boost the flavor, preserve the shelf life, pH, and acts as a stabilizer. Use of citric acid as an acidulant, preservative, pH regulator, stabilizer, taste enhancer is creating higher demand across the food and beverage industry. Growing global food demand along with higher preference to the processed and ready to eat/cook/drink food products, the need for the flavoring agents such as citric acid is on a constant rise. Rise in disposable income and busier lifestyle creates a higher affinity to the readily cooked products, pushes the growth of the citric acid.
Market Restraint:
The citric acid market may face hindrance owing to availability of substitutes such as lactic acid, tartaric acid and malic acid, which are used in food and beverage, pharmaceutical, skin and hair care products to enhance taste, increase shelf life, balance pH, and other purpose. For instance, tartaric acid is used in personal care products as a pH stabilizer. Due to this, these acids as an alternative to the citric acid in various application areas, which in turn, hampers the market growth.
The report on the Citric acid market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Report Features |
Specifics |
---|---|
Historical/Estimated/Forecasted Market Size Years |
2019-2027 |
Base Year for Market Calculation |
2019 |
Forecasted Period |
2020-2027 (2020 estimated year, forecasted up to 2027) |
Measured Units |
Value (USD Million) Volume (Kiloton) |
Segments Included |
Source, Form and Application |
Regional Coverage |
North America, Asia-Pacific, Europe, Middle East & Africa, South America |
For the scope of the report, In-depth segmentation is offered by Forencis Research
Citric Acid Market, by Source
Citric Acid Market, by Form
Citric Acid Market, by Application
Citric Acid Market, by Region
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE CITRIC ACID MARKET STUDY
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY