IMARC Group, a leading market research company, has recently releases report titled “Citric Acid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the global citric acid market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

How Big is the Citric Acid Market?

Report AttributesDetails
Market Size in 20222.8 Million Tons
Market Forecast in 20283.3 Million Tons
Growth rate (2023 to 2028)CAGR of 2.87%
Base Year of the Analysis2022
Forecast Period2023-2028

What is Citric Acid?

Citric acid (C6H8O7) refers to a naturally occurring acid found in different fruits and vegetables. It is most commonly found in citrus fruits, such as lemon, which has the highest amount of citric acid. Citric acid is generally used in the food and beverage industry as an acidifier, chelating agent, and flavoring agent. It is also employed in the pharmaceutical industry as a preservative for stored blood and a buffer and antioxidant as well as an excipient in the formulation of tablets and capsules. It is also utilized in cleaning products due to its ability to remove hard water deposits and soap scum. Citric acid has various other industrial applications, including the production of biofuels, plastics, and textiles. It is commonly recognized as safe for consumption by regulatory agencies.

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What Are the Growth Prospects and Trends in the Citric Acid Market?

The rising demand for processed foods and beverages represents one of the significant factors driving the market growth. In line with this, citric acid is extensively utilized as an acidifying agent and flavor enhancer in various food and beverage products, such as jams, dairy products, and soft drinks, which is driving the market. In addition to this, increasing consumer preferences for clean labels and natural ingredients, along with the rising preference toward natural additives among consumers, is contributing to the growth of the market. Other factors, such as the increasing demand for personal care and cosmetic products and the extensive product application in the pharmaceutical industry, are creating a positive outlook for the market further across the globe.

Who Are the Key Players Operating in the Citric Acid Market?

The competitive landscape of the global citric acid market has also been examined along with the profiles of the key players.

Some of these key players include:

  • Archer Daniels Midland Company
  • Cargill, Incorporated
  • Tate & Lyle PLC
  • Jungbunzlauer Suisse AG
  • Cofco Biochemical (Anhui) Co., Ltd.
  • Huangshi Xinghua Biochemical Co. Ltd.
  • RZBC Group Co. Ltd.
  • Weifang Ensign Industry Co., Ltd.
  • Gadot Biochemical Industries Ltd.
  • S.A. Citrique Belge N.V.

What is Included in Market Segmentation?

The report has categorized the market based on application and form.

Breakup by Application:

  • Food and Beverages
  • Household Detergents and Cleaners
  • Pharmaceuticals
  • Others

Breakup by Form:

  • Anhydrous
  • Liquid

Breakup by Region:

  • Western Europe
  • United States
  • China
  • Middle East and Africa
  • Central/Eastern Europe
  • Brazil
  • India

Key Highlights of the Report:  

  • Market Performance (2017-2022)
  • Market Outlook (2023-2028)
  • Market Trends
  • Market Drivers and Success Factors
  • Impact of COVID-19
  • Value Chain Analysis
  • Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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