Citric Acid Market is segmented By Form (Powder Citric Acid, Liquid Citric Acid), By Function (Acidulant, Preservative, Antioxidant, Sequestrant), By Application (Food & Beverages, Pharmaceuticals & Cosmetics, Reagent, Others), By Grade (Food Grade, Pharmaceutical Grade, Industrial Grade), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031.
Citric Acid Market Size
The Global Citric Acid Market reached USD 3.4 billion in 2022 and is projected to witness lucrative growth by reaching up to USD 4.8 billion by 2030. The market is expected to exhibit a CAGR of 4.2% during the forecast period 2024-2031.
Citric acid, a key ingredient in various industries, is primarily produced from citrus fruits through a fermentation process. Citric acid production involves extracting juice from citrus fruits and utilizing specific microorganisms, such as Aspergillus niger, for fermentation.
This process converts the sugars present in citrus fruits into citric acid. Citric acid finds widespread use in food and beverage, pharmaceutical and household product industries due to its natural acidulant, preservative and flavor-enhancing properties.
The citric acid market has experienced robust growth driven by expanding applications across industries. Rising consumer awareness towards natural and organic products has increased the demand for citric acid. The food and beverage sector, pharmaceuticals and personal care industries are major contributors to market growth. The market is expected to continue its growth trajectory in the coming years.
Citric Acid Market Summary
| Metrics | Details |
| CAGR | 4.2% |
| Size Available for Years | 2022-2031 |
| Forecast Period | 2024-2031 |
| Data Availability | Value (US$) |
| Segments Covered | By Form, Function, Application, Grade and Region |
| Regions Covered | North America, Europe, Asia-Pacific, South America and Middle East & Africa |
| Fastest Growing Region | Asia-Pacific |
| Largest Region | North America |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
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Citric Acid Market Dynamics
Growing Demand for Natural and Versatile Citric Acid Drives Market Expansion in Food and Beverage Industry
According to the citric acid market analysis, one significant driver of the citric acid market is its versatile role as a chelating agent preservative and pH adjuster. Citric acid acts as an effective chelating agent, binding to metal ions and enhancing the stability and shelf life of various products. Its preservative properties inhibit the growth of microorganisms, ensuring product freshness and extending its shelf life.
Additionally, citric acid's ability to adjust pH levels makes it a valuable ingredient in a wide range of products. The citric acid market trend is towards natural and organic ingredients. As consumers prioritize healthier options, citric acid, derived from citrus fruits, is preferred over synthetic alternatives. This trend is driving the growth of the citric acid market share, especially in the food and beverage industry.
Complex Extraction and Production Processes Pose Challenges to Citric Acid Market Growth and Supply Chain Stability
According to the citric acid market analysis, one notable restraint of the citric acid market is the challenge associated with citric acid extraction and production. While citric acid can be derived from citrus fruits through a fermentation process, the extraction and purification methods can be complex and require substantial resources.
The availability and cost of citrus fruits, as well as fluctuations in their supply, can impact the overall production capacity and pricing of citric acid as well as citric acid market share also impacted.
Additionally, citric acid's properties, such as its hygroscopic nature and susceptibility to degradation under certain conditions, pose challenges in product formulation and storage stability. The citric acid market analysis indicates that manufacturers need to carefully consider these factors to ensure the quality and effectiveness of citric acid in various applications.
Despite these restraints, ongoing advancements in extraction techniques and product formulation are being pursued to address these challenges and maintain a steady supply of high-quality citric acid in the market.
Citric Acid Market Segment Analysis
The global citric acid is segmented based on form, function, application, grade and region.
The Food and Beverages Industry Drives the Global Citric Acid Market with Increasing Demand for Natural and Functional Ingredients
. The food and beverages industry is the largest consumer of citric acid, utilizing it for its various functional properties and versatile applications. Citric acid acts as an acidulant, flavor enhancer and preservative in a wide range of food and beverage products. It enhances the tartness, acidity and overall taste profile, while also providing microbial protection and extending shelf life.
According to a recent citric acid market analysis, the food and beverages industry accounts for approximately 60% of the total citric acid consumption globally. The demand for convenience foods, ready-to-drink beverages and processed food products is driving the usage of citric acid in this sector. Additionally, the growing consumer preference for natural and organic ingredients is further boosting the demand for citric acid as a clean-label and sustainable option in food and beverages.
Source: DataM Intelligence Analysis (2023)
Global Citric Acid Market Geographical Share
North America Commands Over 40% Market Share in the Citric Acid Industry, Fueled by Growing Demand for Natural Products
By region, the global citric acid market is segmented into North America, Europe, South America, Asia-Pacific, Middle-east and Africa.
North America dominates the citric acid market with a market share of over 40%, fueled by wide industry applications and growing consumer preference for natural products. According to a recent citric acid market analysis, North America holds the largest market share in the citric acid industry, accounting for more than 40% of the global market. The region's well-established food processing industry, along with the increasing demand for convenience foods, has contributed to its market dominance.
The food and beverage sector alone represents nearly 60% of the total citric acid consumption in North America. In addition to the food industry, the pharmaceutical and personal care sectors have also been significant contributors to the market's growth. The pharmaceutical sector alone accounts for approximately 15% of the regional citric acid consumption. The presence of key players, such as Archer Daniels Midland Company, Cargill, Incorporated and Citrique Belge, further strengthens North America's position in the citric acid market.
Source: DataM Intelligence Analysis (2023)
Citric Acid Companies
The major global players include Archer Daniels Midland Company, Cargill, Incorporated, Tate & Lyle PLC, Jungbunzlauer Suisse AG, Cofco Biochemical (Anhui) Co., Ltd., Weifang Ensign Industry Co., Ltd., Gadot Biochemical Industries Ltd., S.A. Citrique Belge N.V., Metagenics, Danisco A/S, Pfizer, Inc and Merck KGaA.
COVID-19 Impact Analysis
The COVID-19 pandemic has had a significant impact on the citric acid market. The widespread disruptions in global supply chains, trade restrictions and reduced industrial activities have led to a decline in demand for citric acid. However, the increased focus on health and hygiene has driven the demand for citric acid-based cleaning and sanitization products. Overall, the citric acid market has experienced a mixed impact, with varying effects across different sectors.
Key Developments
- On January 24, 2022: Gadot Biochemical Industries launched a new product called Cal2Mg, which is a composition of calcium citrate and magnesium citrate. The product is produced using a unique granulation process with the addition of a binder.
- On June 20, 2022, Jungbunzlauer, a key player in the citric acid market, has recently introduced a new product named Monomagnesium citrate. It is a monobasic magnesium salt with a molar ratio of 1:1 and it is primarily used as a mineral source in functional foods, beverages and food supplements. Due to its pleasantly sour taste and high solubility, Monomagnesium citrate is the preferred magnesium salt for mineral-fortified beverage powders.
- On April 13, 2021, Jungbunzlauer, a leading producer of citric acid and citrate-based ingredients, announced plans for the expansion of its Citric plant in Port Colborne, Canada. The expansion is aimed at meeting the growing global demand for citric acid and citrate-based functional and bio-based ingredients.
Why Purchase the Report?
- To visualize the global citric acid market segmentation based on form, function, application, grade and region, as well as understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of citric acid market-level with all segments.
- The PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as Excel consisting of key products of all the major players.
The global citric acid market report would provide approximately 69 tables, 68 figures and 195 Pages.
Target Audience 2024
- Manufacturers / Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
