Sodium Citrate Market Size – USD 724.3 Million in 2018, Sodium Citrate Market Growth – CAGR of 4.7%
NEW YORK CITY, NEW YORK, UNITED STATES, March 23, 2020 /EINPresswire.com/ — The Global Sodium Citrate Market is forecast to reach USD 1.05 Billion by 2027, according to a new report by Reports and Data. Sodium Citrate or trisodium citrate is an odorless hygroscopic crystalline common potassium salt of citric acid with alkalinizing property, which is manufactured by complete neutralization of citric acid with a high purity sodium carbonate or sodium bicarbonate and subsequent crystallization. The global market is growing at a substantial pace due to the growing demand for sodium citrates in food processing applications and kidney ailments. An escalation in the number of uric acid & calcium kidney stone diseases and disorders in urination has actively uplifted the demand for Sodium Citrate.
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The Asia Pacific region is expected to retain its dominance in the global market. The market is North America is growing at a significant pace due to the extensive use of sodium citrate in various industry verticals. China and India are some of the fastest-growing markets in the world, while Germany and the United States hold some of the most prominent players in the market.
Further key findings from the report suggest
• Sodium citrate naturally preserves the personal care products and cosmetics by chelating bonds. The mixture of citric acid & its salts are also added to the personal care products in order to help adjust the acid to base ratio.
• Growing penetration of the online retailing businesses for the chemicals and materials, especially in the emerging nations in the Asia Pacific, is helping the market grow by broadening the outreach in the areas where services of the offline vendors are unavailable. Also, due to the non-involvement of distributors in the supply chain model, the profit margin is way more than that of the offline retailing distribution channel. The online retailing is expected to gain a market share of 33.9% by 2027.
• Sodium citrate acidulants are used in food & beverage applications as additives that provide a sour and salty taste in food items with assisting in the setting of gels to act as preservatives also. Also, Sodium citrate sequestering agents are used in foods & beverages so that they can stabilize the inner molecule and prevent deterioration in food color & aroma.
• European region is forecasted to witness significant growth in the overall market, with 25.6% of market possession by 2027, having grown with a CAGR of 3.2% during the forecast period. Germany holds some of the most prominent players in this region.
• North America, with its high demand for sodium citrate diuretic & sequestering agent, is accounted to retain a significant position in the global market by 2027, and the CAGR is calculated to be 5.6% during the forecast period.
• Key participants include BASF SE, The Archer Daniels Midland Company, Pan Chem Corporation, Gadot Biochemical Industries Ltd., Cargill, Incorporated, ATP Group, Tate & Lyle PLC, S.A. Citrique Belge N.V., Jungbunzlauer Suisse AG, and Huangshi Xinghua Biochemical Co Ltd, among others.
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For the purpose of this report, Reports and Data have segmented the global Sodium Citrate market on the basis of distribution channel, application, end-use verticals, and region:
Distribution Channel Outlook (Revenue, USD Billion; 2016-2027)
• Online Retailing
• Offline Retailing
Application Outlook (Revenue, USD Billion; 2016-2027)
• Buffering & Sequestering Agent
• Other Applications
End-Use Verticals Outlook (Revenue, USD Billion; 2016-2027)
• Food & Beverage Industry
• Medical & Pharmaceutical
• Personal Care Products
Regional Outlook (Revenue, USD Billion; 2016-2027)
• North America
• Asia Pacific
• Latin America
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Source: EIN Presswire