Citric Acid Market Size – USD 2.76 Billion in 2018, Citric Acid Market Growth – CAGR of 4.6%, Market Trends – High demand from the European region.
NEW YORK CITY, NEW YORK, UNITED STATES, March 20, 2020 /EINPresswire.com/ — The global Citric Acid market is forecast to reach USD 4.17 Billion by 2027, according to a new report by Reports and Data. Citric acid is a weak acid that is formed in the tricarboxylic acid cycle or may be introduced with diet.
Citric acid market is expected to witness substantial growth owing to the increasing demand for the product as a crucial ingredient in detergents, food and beverage, pharmaceuticals, and personal care products, among others. Growing demand for carbonated soft drinks will add to the demand of the market. Citric acid kills some types of viruses and bacteria and can be found in hand sanitizer, insect sprays, and products that kill fungus or algae, and even some tissues. It can safely remove toxins from polluted soil and even clean up nuclear waste.
The Asia Pacific region is forecasted to grow due to the rising population and surge in the demand of the preservatives in the food industry. The rise in demand for carbonated drinks in the region will further encourage market product penetration. China is the largest exporter, as well as the consumer of citric acid. Increasing concern over food safety, high adoption for ready to drinks and processed foods in emerging nations will further add to the growth of the citric acid market. Moreover, the rising demand for cosmetics and personal care products will also propel the product demand.
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Further key findings from the report suggest
• Citric acid helps in keeping canned and jarred foods fresh over a long period of time. It also helps in preventing fresh-cut fruits into turning brown, like apples. Citric acid helps thicken foods or give them slightly sour flavor.
• Citric acid is popular in detergents due to its non-toxic, non-corrosive, antioxidant, and biodegradable properties. Surge in the preference for concentrated liquid detergents in the laundry segment will drive the demand for the citric acid market.
• Acidulants are a chemical compound that bestows a sour, tart, or acidic flavor to the foods. They are different from acidity regulators, which are food additives intended to modify the food or enzyme stability. Citric acid is a typical acidulant.
• Anhydrous citric acid is a tricarboxylic acid that is found in citrus fruits. It is used as an excipient in pharmaceutical preparations owing to its antioxidant properties. It helps in maintaining the stability of active ingredients and is used as a preservative. It controls the pH by acting as an acidulant and acts as an anticoagulant by chelating calcium in the blood.
• The market in North America is expected to grow due to the demand in the food and beverage industry during the forecast period. Growing health awareness and deficiencies will propel the consumption of fruits rich in nutritional content. Additionally, the demand for products in the laundry application will boost the market growth.
• Key participants include Metagenics, Tate & Lyle plc, Cargill, Inc., Pfizer, Inc., Danisco A/S, MP Biomedicals, Kenko Corporation, Archer Daniels Midland (ADM) Company, COFCO Biochemical, and Jungbunzlauer Company among others.
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For the purpose of this report, Reports and Data have segmented into the global Citric Acid market on the basis of form, function, end-use industry, and region:
Form Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)
Function Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)
• Flavoring Agent
End-Use Industry Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)
• Food and Beverage
• Personal Care
Regional Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)
• North America
• Asia Pacific
• Latin America
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About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power, and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
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Source: EIN Presswire