Citric Acid

The Citric Acid Market Report 2019-2023 focuses on the global Citric Acid status, future forecast, growth opportunity, key market, and key players. 

The Citric Acid Market report studies the global market size of Citric Acid in key regions like North America, Europe, Asia Pacific, Central & South America, and the Middle East & Africa focuses on the consumption of Citric Acid in these regions. This research report categorizes the global Citric Acid market by players/brands, region, type, and application. This report also studies the global market status, competition landscape, market share, growth rate, future trends, market drivers, opportunities and challenges, sales channels, distributors and Porters Five Forces Analysis.

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The various contributors involved in the value chain of Citric Acid include manufacturers, suppliers, distributors, intermediaries, and customers.

The Key Players covered in this study:-

  • Archer Daniels Midland Company
  • COFCO Biochemical (Anhui) Co. Ltd.
  • Cargill
  • Delek Group
  • Gadot Biochemical Industries Ltd.
  • Huangshi Xinghua Biochemical Co. Ltd.
  • Jungbunzlauer Suisse AG
  • Pfizer Inc.
  • S.A. Citrique Belge N.V.
  • Shandong Juxian Hongde Citric Acid Co.
  • Ltd.
  • Suisse AG
  • Basel
  • Tate & Lyle PLC

Overview of Citric Acid Market Research Report 2019-2023:-

Market Insights

The global citric acid market is projected to reach USD 3.2 billion by 2023 and is expected to witness a CAGR of 5.1% during the forecast period.

Market Dynamics

Citric acid is a cost-effective ingredient with wide-ranging applications. The driving factor behind the growth of the global citric acid market is the expanding application in various industries like food & beverage, cleaning and chelating agent, pharmaceuticals, and others. Among these applications, food & beverage is expected to account the largest share, followed by cosmetics and personal care. The rising consumption of food & beverage and personal care products has boosted the regional as well as global market.
Disproportionate citric acid consumption can cause a variety of side-effects such as vomiting, diarrhea, nausea, and abdominal pain. These issues are limiting consumer demand for citric acid, which is hampering the growth of the market.
The global citric acid market is currently witnessing high opportunity because of increased usage of citric acid as a cleaning agent due to the ban on phosphate in various regions.

Market Segmentation

The citric acid market is segmented by key forms, functions, applications, and geography. Among all the application segments, the acidulant segment is expected to account for the highest share.
Geographically, Europe accounts for the largest market share of the worldwide Citric acid production, followed by North America and Asia-Pacific.
The prominent citric acid market players have adopted new product development as their key strategy to attend different consumer requirements from food and non-food sectors, in matured and untapped markets as well. They also focus on procuring local players of the industry and base for expansion. This has not only supported them to expand their geographical reach but has also strengthened their market position by gaining a larger share in the revenue and product portfolio.

Key Developments

• April 2015 – Cargill Incorporated raised investment to expand the production capacity of its citric acid plant in Uberlandia, Minas Gerais plant.
• April 2012 – Tate & Lyle PLC agreed to sell 50% stake in Sucromiles, its Colombian citric acid joint venture, to its long-standing business partner, Organizacion Ardila Lulle.

Major players – ARCHER DANIELS MIDLAND COMPANY, COFCO BIOCHEMICAL (ANHUI) CO. LTD., CARGILL, DELEK GROUP, GADOT BIOCHEMICAL INDUSTRIES LTD., HUANGSHI XINGHUA BIOCHEMICAL CO. LTD., JUNGBUNZLAUER SUISSE AG, PFIZER INC., S.A. CITRIQUE BELGE N.V., SHANDONG JUXIAN HONGDE CITRIC ACID CO., LTD., SUISSE AG, BASEL, TATE & LYLE PLC, among others.

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Reasons to Purchase this Report

  • Analyzing outlook of the market with the recent trends and Porters five forces analysis
  • Market dynamics, which essentially consider the factors, which are impelling the present market scenario, along with growth opportunities of the market in the years to come
  • Market segmentation analysis, including qualitative & quantitative research incorporating the impact of economic & non-economic aspects
  • Regional and Country level analysis integrating the demand and supply forces that are influencing the growth of the market
  • Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • 3-month analyst support, along with the Market Estimate sheet (in excel)

    Key questions answered in the Citric Acid Market Report are.

    • What will the market size be in 2023 and what will the growth rate be?
    • What are the key market trends?
    • What is driving this market?
    • What are the challenges to market growth?
    • Who are the key vendors in this market space?
    • What are the market opportunities and threats faced by the key vendors?
    • What are the strengths and weaknesses of the key vendors? 

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    This report includes the estimation of market size for value (million US$) and volume (K Units). Both top-down and bottom-up approaches have been used to estimate and validate the market size of Citric Acid market, to estimate the size of various other dependent submarkets in the overall market. Key players in the market have been identified through secondary research, and their market shares have been determined through primary and secondary research. All percentage shares, splits, and breakdowns have been determined using secondary sources and verified primary sources.

    “We also can offer customized report to fulfill special requirements of our clients. Regional and Countries report can be provided as well.”

    Major Points from TOC of Citric Acid Market Research Report 2019-2023:

    1. INTRODUCTION
      1 Study Deliverables
      1.2 Study Assumptions
      1.3 Scope of the Study
    1. RESEARCH METHODOLOGY
    1. EXECUTIVE SUMMARY
    1. MARKET DYNAMICS
      1 Drivers
      4.1.1 Rise in Defence Expenditure of Many Countries
      4.1.2 Increasing Demand of Lightweight Materials in the Industry
      4.2 Restraints
      4.2.1 Need for High Investments in R&D
      4.2.2 Other Restraints
      4.3 Industry Value-Chain Analysis
      4.4 Porters 5 Force Analysis
      4.4.1 Bargaining Power of Suppliers
      4.4.2 Bargaining Power of Consumers
      4.4.3 Threat of New Entrants
      4.4.4 Threat of Substitute Products and Services
      4.4.5 Degree of Competition
      4.5 Price Analysis
    1. MARKET SEGMENTATION
      1 By Application
      5.2 End-user Sector
      5.2.1 Residential
      5.2.2 Commercial
      5.2.3 Institutional
      5.3 Geography
      5.3.1 Asia-Pacific
      5.3.2 North America
      5.3.3 Europe
      5.3.4 South America
      5.3.5 the Middle East & Africa

      Continued…

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