Global Citric Acid Market Analysis By Segmentations, Top Key Players, Geographical Expansion, Future Development & Forecast 2024-2035
- PUBLISHED ON
- 1/12/2023
- NO OF PAGES
- 289
- CATEGORY
- Chemicals & Materials
Market Overview:
Citric acid is a weak organic acid that is widely used as a food additive, preservative, and flavoring agent. It is also used in various industries such as pharmaceuticals, cosmetics, and household cleaning products. The global citric acid market is primarily driven by the growing demand for processed and convenience foods, increasing demand for beverages, and the use of citric acid in various industrial applications.
The food and beverage industry is the largest consumer of citric acid, accounting for the majority of the market share. The increasing demand for convenience foods, ready-to-drink beverages, and processed foods has led to a significant increase in the demand for citric acid as a flavoring agent, preservative, and acidulant.
Moreover, the use of citric acid in various industrial applications such as pharmaceuticals, personal care products, and household cleaning products is also driving the market growth. Citric acid is used as a chelating agent and pH regulator in pharmaceuticals and as a pH regulator and sequestering agent in personal care and household cleaning products.
However, the market growth is expected to be hindered by the availability of alternative products and the adverse effects of citric acid consumption in high amounts, such as dental erosion and stomach irritation. The increasing popularity of natural and organic products is also expected to limit the growth of the market for synthetic citric acid.
Overall, the global citric acid market is expected to grow at a moderate pace in the coming years, driven by the increasing demand from the food and beverage industry and various industrial applications.
Covid-19 Impact:
The global citric acid market has been impacted by the COVID-19 pandemic, particularly in the food and beverage industry. The widespread lockdowns and restrictions on movements have led to disruptions in the supply chain and reduced consumer demand for processed and convenience foods. This has led to a decrease in the demand for citric acid as a flavoring agent and preservative in the food and beverage industry.
However, the demand for citric acid in pharmaceuticals, personal care products, and household cleaning products has remained relatively stable during the pandemic. The increased focus on personal hygiene and cleanliness has led to an increased demand for household cleaning products containing citric acid as a sequestering agent and pH regulator.
Moreover, the production of citric acid was also impacted during the pandemic due to the disruption of the supply chain and reduced availability of raw materials. The closure of manufacturing plants and reduced workforce also led to a decrease in the production of citric acid.
As the world recovers from the pandemic and restrictions are lifted, the demand for citric acid is expected to rebound in the food and beverage industry. The increasing popularity of natural and organic products is also expected to drive the demand for citric acid derived from natural sources. Overall, the impact of the COVID-19 pandemic on the global citric acid market has been mixed, with some segments experiencing a decline in demand while others remaining relatively stable.
Market Dynamics:
Drivers:
The citric acid market is a growing industry, driven by various factors. Citric acid is a weak organic acid that occurs naturally in citrus fruits such as lemons and limes, and is widely used as an acidifier, preservative, and flavor enhancer in the food, beverage, pharmaceutical, and personal care industries.
One major driver of the citric acid market is the increasing demand for convenience and processed foods. Citric acid is used in a variety of processed foods such as canned fruits and vegetables, carbonated beverages, and dairy products. As the demand for processed foods continues to grow, the demand for citric acid is also increasing.
Another driver of the citric acid market is the growing awareness of the health benefits of consuming natural and organic foods. Citric acid is considered a natural preservative and is often used in organic and natural food products as an alternative to synthetic preservatives. As consumers become more health-conscious, the demand for citric acid as a natural preservative is expected to increase.
Furthermore, the growing demand for citric acid in the pharmaceutical industry is also a significant driver of the market. Citric acid is used in various medications and supplements as an excipient or to adjust pH levels. With the increasing demand for medications and supplements worldwide, the demand for citric acid in the pharmaceutical industry is expected to continue to grow.
Overall, the citric acid market is expected to continue to grow due to its versatile applications across multiple industries and the increasing demand for convenience, natural, and organic products.
Regional Analysis:
The global citric acid market is segmented into various regions, including North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Each region has its unique market dynamics, which affect the demand and supply of citric acid in that region.
North America is the largest market for citric acid, with the United States being the major contributor to the growth of the market. The high demand for convenience and processed foods, along with the increasing demand for natural and organic foods, is driving the growth of the market in the region. The United States is also a major producer of citric acid, with several companies operating in the region.
Europe is another significant market for citric acid, with Germany being the leading contributor to the growth of the market. The increasing demand for citric acid in the pharmaceutical industry, along with the growing demand for convenience and processed foods, is driving the growth of the market in the region. The presence of several major players in the region is also boosting the growth of the market.
The Asia-Pacific region is expected to be the fastest-growing market for citric acid, driven by the increasing demand for processed foods and the growing population in the region. China is the largest producer and consumer of citric acid in the world, and the country's demand is expected to continue to grow. Other countries in the region, such as India, Japan, and South Korea, are also expected to contribute to the growth of the market.
Latin America and the Middle East and Africa are relatively small markets for citric acid, but they are expected to grow in the coming years. The increasing demand for processed foods and the growing population in these regions are driving the growth of the market. The presence of several major players in these regions is also boosting the growth of the market.
Market Segmentation:
Citric acid is a weak organic acid commonly used in the food and beverage industry as a natural preservative, flavor enhancer, and acidifier. It is also used in various other industries such as pharmaceuticals, cosmetics, and cleaning products. The global citric acid market size was valued at USD 3.3 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 6.1% from 2021 to 2028.
The market can be segmented based on the following criteria:
- Application:
- Food and Beverages
- Pharmaceuticals
- Cosmetics and Personal Care
- Cleaning and Chelating Agents
- Others (textile, chemical, construction)
- Form:
- Anhydrous
- Liquid
- Powdered
- Grade:
- Food Grade
- Pharmaceutical Grade
- Industrial Grade
- Region:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South America
- End-Use:
- Bakery and Confectionery
- Dairy
- Beverages
- Convenience Food
- Meat, Poultry, and Seafood
- Others (Canned Fruits and Vegetables, Sauces and Dressings, and Seasonings and Condiments)
Competitive Landscape:
The citric acid market is a growing market due to its widespread use in food and beverage, pharmaceutical, and personal care industries. According to a report by MarketsandMarkets, the global citric acid market is projected to reach USD 3.8 billion by 2025, growing at a CAGR of 5.8% from 2020 to 2025.
Some of the key players in the citric acid market include:
- Cargill, Incorporated
- Archer Daniels Midland Company
- Tate & Lyle PLC
- Jungbunzlauer Suisse AG
- Citrique Belge N.V.
- Weifang Ensign Industry Co., Ltd.
- RZBC Group Co., Ltd.
- COFCO Biochemical (Anhui) Co., Ltd.
- Shandong Juxian Hongde Citric Acid Co., Ltd.
- Gadot Biochemical Industries Ltd.
These players are adopting various strategies such as mergers & acquisitions, partnerships, collaborations, and product launches to strengthen their market position and expand their product portfolio.
Why to buy this Report?
The report provides quantitative and qualitative aspect for the market in terms of value and volume, along with supporting market trends, challenges, restraints.
The report provides an in depth analysis from both production and consumption point of view at the regional and country level. Key Factors considered within the report scope are Production capacity by countries/regions, average price, consumption ratio, revenue earned and gross margin.
The report provides competitive analysis of around 30-50 companies operated in the market, these companies are bifurcated into niche players, the leaders and major contenders. The companies are analyzed in terms of following factors such as:
- Business Model
- Production Capacity, Revenue, Sales, Gross Margin
- Key Business Strategy
- SWOT Analysis
In terms of competitive landscape, the report provides distinctive factors that would help the end user in taking a key decision within the business:
- Company Share Analysis from 2018-2022
- Company Analysis by Revenue and Sales
- Company Production Capacity, Gross Margin
- Company Share Analysis by Application/End Use
- Company Share Analysis by Product/Specification
Key Benefits:
• The analysis provides an overview of the factors driving and limiting the growth of the market including trends, structure and others.
• Market estimation for type and geographic segments is derived from the current market scenario and expected market trends.
• Porter’s Five Force Model and SWOT analysis are used to study the global Citric Acid market and would help stakeholders make strategic decisions.
• The analysis assists in understanding the strategies adopted by the companies for the growth of this market.
• In-depth analysis of the types of Citric Acid would help in identifying future applications in this market.
Reasons to Purchase this Report:
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 6-month post-sales analyst support
Objectives of the Study:
• To provide with an exhaustive analysis on the Citric Acid Market by Product, By Application, By End User and by Region.
• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions— North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
• To record and evaluate competitive landscape mapping- product launches, technological advancements, mergers and expansions
Historic Year: 2016-2022
Forecast: 2024-2035
1.1 Study Scope
1.2 Key Market Segments
1.3 Players Covered: Ranking by Citric Acid Revenue
1.4 Market Analysis by Type
1.4.1 Global Citric Acid Market Size Growth Rate by Type: 2023 VS 2032
1.4.2 Powder Citric Acid
1.4.3 Liquid Citric Acid
1.5 Market by Application
1.5.1 Global Citric Acid Market Share by Application: 2023-2032
1.5.2 Food & Beverages
1.5.3 Pharmaceuticals & Personal Care
1.5.4 Detergents & Cleansers
1.6 Study Objectives
1.7 Years Considered
1.8 Overview of Global Citric Acid Market
1.8.1 Global Citric Acid Market Status and Outlook (2017-2032)
1.8.2 North America
1.8.3 East Asia
1.8.4 Europe
1.8.5 South Asia
1.8.6 Southeast Asia
1.8.7 Middle East
1.8.8 Africa
1.8.9 Oceania
1.8.10 South America
1.8.11 Rest of the World
2 Market Competition by Manufacturers
2.1 Global Citric Acid Production Capacity Market Share by Manufacturers (2017-2022)
2.2 Global Citric Acid Revenue Market Share by Manufacturers (2017-2022)
2.3 Global Citric Acid Average Price by Manufacturers (2017-2022)
2.4 Manufacturers Citric Acid Production Sites, Area Served, Product Type
3 Sales by Region
3.1 Global Citric Acid Sales Volume Market Share by Region (2017-2022)
3.2 Global Citric Acid Sales Revenue Market Share by Region (2017-2022)
3.3 North America Citric Acid Sales Volume
3.3.1 North America Citric Acid Sales Volume Growth Rate (2017-2022)
3.3.2 North America Citric Acid Sales Volume Capacity, Revenue, Price and Gross Margin (2017-2022)
3.4 East Asia Citric Acid Sales Volume
3.4.1 East Asia Citric Acid Sales Volume Growth Rate (2017-2022)
3.4.2 East Asia Citric Acid Sales Volume Capacity, Revenue, Price and Gross Margin (2017-2022)
3.5 Europe Citric Acid Sales Volume (2017-2022)
3.5.1 Europe Citric Acid Sales Volume Growth Rate (2017-2022)
3.5.2 Europe Citric Acid Sales Volume Capacity, Revenue, Price and Gross Margin (2017-2022)
3.6 South Asia Citric Acid Sales Volume (2017-2022)
3.6.1 South Asia Citric Acid Sales Volume Growth Rate (2017-2022)
3.6.2 South Asia Citric Acid Sales Volume Capacity, Revenue, Price and Gross Margin (2017-2022)
3.7 Southeast Asia Citric Acid Sales Volume (2017-2022)
3.7.1 Southeast Asia Citric Acid Sales Volume Growth Rate (2017-2022)
3.7.2 Southeast Asia Citric Acid Sales Volume Capacity, Revenue, Price and Gross Margin (2017-2022)
3.8 Middle East Citric Acid Sales Volume (2017-2022)
3.8.1 Middle East Citric Acid Sales Volume Growth Rate (2017-2022)
3.8.2 Middle East Citric Acid Sales Volume Capacity, Revenue, Price and Gross Margin (2017-2022)
3.9 Africa Citric Acid Sales Volume (2017-2022)
3.9.1 Africa Citric Acid Sales Volume Growth Rate (2017-2022)
3.9.2 Africa Citric Acid Sales Volume Capacity, Revenue, Price and Gross Margin (2017-2022)
3.10 Oceania Citric Acid Sales Volume (2017-2022)
3.10.1 Oceania Citric Acid Sales Volume Growth Rate (2017-2022)
3.10.2 Oceania Citric Acid Sales Volume Capacity, Revenue, Price and Gross Margin (2017-2022)
3.11 South America Citric Acid Sales Volume (2017-2022)
3.11.1 South America Citric Acid Sales Volume Growth Rate (2017-2022)
3.11.2 South America Citric Acid Sales Volume Capacity, Revenue, Price and Gross Margin (2017-2022)
3.12 Rest of the World Citric Acid Sales Volume (2017-2022)
3.12.1 Rest of the World Citric Acid Sales Volume Growth Rate (2017-2022)
3.12.2 Rest of the World Citric Acid Sales Volume Capacity, Revenue, Price and Gross Margin (2017-2022)
4 North America
4.1 North America Citric Acid Consumption by Countries
4.2 United States
4.3 Canada
4.4 Mexico
5 East Asia
5.1 East Asia Citric Acid Consumption by Countries
5.2 China
5.3 Japan
5.4 South Korea
6 Europe
6.1 Europe Citric Acid Consumption by Countries
6.2 Germany
6.3 United Kingdom
6.4 France
6.5 Italy
6.6 Russia
6.7 Spain
6.8 Netherlands
6.9 Switzerland
6.10 Poland
7 South Asia
7.1 South Asia Citric Acid Consumption by Countries
7.2 India
7.3 Pakistan
7.4 Bangladesh
8 Southeast Asia
8.1 Southeast Asia Citric Acid Consumption by Countries
8.2 Indonesia
8.3 Thailand
8.4 Singapore
8.5 Malaysia
8.6 Philippines
8.7 Vietnam
8.8 Myanmar
9 Middle East
9.1 Middle East Citric Acid Consumption by Countries
9.2 Turkey
9.3 Saudi Arabia
9.4 Iran
9.5 United Arab Emirates
9.6 Israel
9.7 Iraq
9.8 Qatar
9.9 Kuwait
9.10 Oman
10 Africa
10.1 Africa Citric Acid Consumption by Countries
10.2 Nigeria
10.3 South Africa
10.4 Egypt
10.5 Algeria
10.6 Morocco
11 Oceania
11.1 Oceania Citric Acid Consumption by Countries
11.2 Australia
11.3 New Zealand
12 South America
12.1 South America Citric Acid Consumption by Countries
12.2 Brazil
12.3 Argentina
12.4 Columbia
12.5 Chile
12.6 Venezuela
12.7 Peru
12.8 Puerto Rico
12.9 Ecuador
13 Rest of the World
13.1 Rest of the World Citric Acid Consumption by Countries
13.2 Kazakhstan
14 Sales Volume, Sales Revenue, Sales Price Trend by Type
14.1 Global Citric Acid Sales Volume Market Share by Type (2017-2022)
14.2 Global Citric Acid Sales Revenue Market Share by Type (2017-2022)
14.3 Global Citric Acid Sales Price by Type (2017-2022)
15 Consumption Analysis by Application
15.1 Global Citric Acid Consumption Volume by Application (2017-2022)
15.2 Global Citric Acid Consumption Value by Application (2017-2022)
16 Company Profiles and Key Figures in Citric Acid Business
16.1 Weifang Ensign Industry Co., Ltd.
16.1.1 Weifang Ensign Industry Co., Ltd. Company Profile
16.1.2 Weifang Ensign Industry Co., Ltd. Citric Acid Product Specification
16.1.3 Weifang Ensign Industry Co., Ltd. Citric Acid Production Capacity, Revenue, Price and Gross Margin (2017-2022)
16.2 TTCA Co., Ltd
16.2.1 TTCA Co., Ltd Company Profile
16.2.2 TTCA Co., Ltd Citric Acid Product Specification
16.2.3 TTCA Co., Ltd Citric Acid Production Capacity, Revenue, Price and Gross Margin (2017-2022)
16.3 RZBC Group Co. Ltd.
16.3.1 RZBC Group Co. Ltd. Company Profile
16.3.2 RZBC Group Co. Ltd. Citric Acid Product Specification
16.3.3 RZBC Group Co. Ltd. Citric Acid Production Capacity, Revenue, Price and Gross Margin (2017-2022)
16.4 Cofco Biochemical (Anhui) Co., Ltd.
16.4.1 Cofco Biochemical (Anhui) Co., Ltd. Company Profile
16.4.2 Cofco Biochemical (Anhui) Co., Ltd. Citric Acid Product Specification
16.4.3 Cofco Biochemical (Anhui) Co., Ltd. Citric Acid Production Capacity, Revenue, Price and Gross Margin (2017-2022)
16.5 Jungbunzlauer Suisse AG
16.5.1 Jungbunzlauer Suisse AG Company Profile
16.5.2 Jungbunzlauer Suisse AG Citric Acid Product Specification
16.5.3 Jungbunzlauer Suisse AG Citric Acid Production Capacity, Revenue, Price and Gross Margin (2017-2022)
16.6 Tate & Lyle
16.6.1 Tate & Lyle Company Profile
16.6.2 Tate & Lyle Citric Acid Product Specification
16.6.3 Tate & Lyle Citric Acid Production Capacity, Revenue, Price and Gross Margin (2017-2022)
16.7 S.A. Citrique Belge N.V.
16.7.1 S.A. Citrique Belge N.V. Company Profile
16.7.2 S.A. Citrique Belge N.V. Citric Acid Product Specification
16.7.3 S.A. Citrique Belge N.V. Citric Acid Production Capacity, Revenue, Price and Gross Margin (2017-2022)
16.8 Archer Daniels Midland Company
16.8.1 Archer Daniels Midland Company Company Profile
16.8.2 Archer Daniels Midland Company Citric Acid Product Specification
16.8.3 Archer Daniels Midland Company Citric Acid Production Capacity, Revenue, Price and Gross Margin (2017-2022)
16.9 Cargill Incorporated
16.9.1 Cargill Incorporated Company Profile
16.9.2 Cargill Incorporated Citric Acid Product Specification
16.9.3 Cargill Incorporated Citric Acid Production Capacity, Revenue, Price and Gross Margin (2017-2022)
16.10 Shandong Juxian Hongde Citric Acid Company Ltd
16.10.1 Shandong Juxian Hongde Citric Acid Company Ltd Company Profile
16.10.2 Shandong Juxian Hongde Citric Acid Company Ltd Citric Acid Product Specification
16.10.3 Shandong Juxian Hongde Citric Acid Company Ltd Citric Acid Production Capacity, Revenue, Price and Gross Margin (2017-2022)
16.11 Huangshi Xinghua Biochemical Co.Ltd
16.11.1 Huangshi Xinghua Biochemical Co.Ltd Company Profile
16.11.2 Huangshi Xinghua Biochemical Co.Ltd Citric Acid Product Specification
16.11.3 Huangshi Xinghua Biochemical Co.Ltd Citric Acid Production Capacity, Revenue, Price and Gross Margin (2017-2022)
16.12 Gadot Biochemical Industries Ltd.
16.12.1 Gadot Biochemical Industries Ltd. Company Profile
16.12.2 Gadot Biochemical Industries Ltd. Citric Acid Product Specification
16.12.3 Gadot Biochemical Industries Ltd. Citric Acid Production Capacity, Revenue, Price and Gross Margin (2017-2022)
17 Citric Acid Manufacturing Cost Analysis
17.1 Citric Acid Key Raw Materials Analysis
17.1.1 Key Raw Materials
17.2 Proportion of Manufacturing Cost Structure
17.3 Manufacturing Process Analysis of Citric Acid
17.4 Citric Acid Industrial Chain Analysis
18 Marketing Channel, Distributors and Customers
18.1 Marketing Channel
18.2 Citric Acid Distributors List
18.3 Citric Acid Customers
19 Market Dynamics
19.1 Market Trends
19.2 Opportunities and Drivers
19.3 Challenges
19.4 Porter's Five Forces Analysis
20 Production and Supply Forecast
20.1 Global Forecasted Production of Citric Acid (2023-2032)
20.2 Global Forecasted Revenue of Citric Acid (2023-2032)
20.3 Global Forecasted Price of Citric Acid (2017-2032)
20.4 Global Forecasted Production of Citric Acid by Region (2023-2032)
20.4.1 North America Citric Acid Production, Revenue Forecast (2023-2032)
20.4.2 East Asia Citric Acid Production, Revenue Forecast (2023-2032)
20.4.3 Europe Citric Acid Production, Revenue Forecast (2023-2032)
20.4.4 South Asia Citric Acid Production, Revenue Forecast (2023-2032)
20.4.5 Southeast Asia Citric Acid Production, Revenue Forecast (2023-2032)
20.4.6 Middle East Citric Acid Production, Revenue Forecast (2023-2032)
20.4.7 Africa Citric Acid Production, Revenue Forecast (2023-2032)
20.4.8 Oceania Citric Acid Production, Revenue Forecast (2023-2032)
20.4.9 South America Citric Acid Production, Revenue Forecast (2023-2032)
20.4.10 Rest of the World Citric Acid Production, Revenue Forecast (2023-2032)
20.5 Forecast by Type and by Application (2023-2032)
20.5.1 Global Sales Volume, Sales Revenue and Sales Price Forecast by Type (2023-2032)
20.5.2 Global Forecasted Consumption of Citric Acid by Application (2023-2032)
21 Consumption and Demand Forecast
21.1 North America Forecasted Consumption of Citric Acid by Country
21.2 East Asia Market Forecasted Consumption of Citric Acid by Country
21.3 Europe Market Forecasted Consumption of Citric Acid by Countriy
21.4 South Asia Forecasted Consumption of Citric Acid by Country
21.5 Southeast Asia Forecasted Consumption of Citric Acid by Country
21.6 Middle East Forecasted Consumption of Citric Acid by Country
21.7 Africa Forecasted Consumption of Citric Acid by Country
21.8 Oceania Forecasted Consumption of Citric Acid by Country
21.9 South America Forecasted Consumption of Citric Acid by Country
21.10 Rest of the world Forecasted Consumption of Citric Acid by Country
22 Research Findings and Conclusion
23 Methodology and Data Source
23.1 Methodology/Research Approach
23.1.1 Research Programs/Design
23.1.2 Market Size Estimation
23.1.3 Market Breakdown and Data Triangulation
23.2 Data Source
23.2.1 Secondary Sources
23.2.2 Primary Sources
23.3 Disclaimer
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