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Citric Acid Market by Application and Geography - Forecast and Analysis 2021-2025

  • Published: May 2021
  • Pages: 120
  • SKU: IRTNTR70595
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The citric acid market share is expected to increase by USD 1.86 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 8.2%.

This citric acid market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers citric acid market segmentations by application (food and beverage, pharmaceuticals and personal care products, detergents and cleaners, and others) and geography (Europe, North America, APAC, MEA, and South America). The citric acid market report also offers information on several market vendors, including Archer Daniels Midland Co., Cargill Inc., COFCO Corp., Foodchem International Corp., Gadot Biochemical Industries Ltd., Huangshi Xinghua Biochemical Co. Ltd., Jungbunzlauer Suisse AG, RZBC Group Co. Ltd., S.A. Citrique Belge N.V., and Tate and Lyle Plc among others.

What will the Citric Acid Market Size be During the Forecast Period?

Citric Acid Market Size

Download the Free Report Sample to Unlock the Citric Acid Market Size for the Forecast Period and Other Important Statistics

 

Citric Acid Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The growing demand for citric acids from detergents and cleaners is notably driving the citric acid market growth, although factors such as potential substitute s may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the citric acid market industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Citric Acid Market Driver

One of the key factors driving the citric acid market is the growing demand for citric acids from detergents and cleaners. Citric acid is used to reduce the hardness of water and helps in foam formation. These properties of citric acid make it an integral component of soaps, detergents, and cleaning solutions. Furthermore, owing to its acidic nature, citric acid removes grime and dirt spots from fabrics and surfaces. In addition, because of its non-corrosive, non-toxic, and biodegradable properties, citric acid is preferred in detergents used in the cleaning application. These features are increasing the demand for citric acid in household and laundry detergent applications. Furthermore, citric acid-added products are safe for use and do not pose such risks. Moreover, it has antiseptic and antibacterial properties that restrict the growth of microorganisms. Therefore, it works as a disinfectant in protective cleaning products used in bathrooms and kitchens. It also helps in removing stains from tables, countertops, floors, and stainless steel equipment. Owing to its high chelating property, it is widely used for removing grease and oil spots. Citric acid also helps in descaling of mineral deposits in household and industrial applications. For such reasons, the demand for citric acid in the detergents and cleaners sector is increasing and is expected to continue to rise during the forecast period.

Key Citric Acid Market Trend

Growing popularity of organic food additives is another factor supporting the citric acid market growth in the forecast period. A recent trend observed is the shift in consumers' demand from synthetic to organic food additives like herbal extracts. It has been observed that the market for organic shelf-life stabilizers saw higher growth in developed countries than synthetic food additives. Consumers perceive organic food additives as being safer and healthier than synthetic food additives. Though the cost of manufacturing and acquiring organic food additives is much higher in comparison with synthetic food additives, the increase in the health-conscious population is influencing their adoption rate. Moreover, the demand for drinks with less or no sugar is high among people, so manufacturers must introduce healthier alternatives. Therefore, the increasing preference for organic food additives will have a positive influence on their production and consumption. Furthermore, changes in food regulations in the US are creating a significantly higher demand for food additives such as food preservatives and flavor enhancers. In addition, the increasing consumer demand for clean-label assertions has increased the need for versatile organic flavoring agents such as citric acid. Therefore, the growing acceptance of organic food additives is likely to impact the growth of the market positively during the forecast period.

Key Citric Acid Market Challenge

Potential substitute such as lactic acid will be a major challenge for the citric acid market during the forecast period. Lactic acid is emerging as a potential substitute for citric acid in various applications in the food and beverage industry, such as meat products, frozen food products, dairy, confectioneries, snacks, soft drinks, beer, fruit juices, pickles, cheese, and dried food casein. Furthermore, the acidic nature of lactic acid provides a long-lasting sour taste to various products such as confectionery and snacks. It is commonly used in beer and wine production; it enhances the flavor of beer and wine. Moreover, lactic acid is also used as an antibacterial agent in several food products such as meat, frozen foods, and pickles. It decreases the pH of the product, which restricts the growth of the microorganisms. In addition, lactic acid is widely used in packaged vegetables and fruits such as pickled cucumber (gherkins), green olives, cucumbers, mushrooms, and baby carrots. It inhibits spoilage and fermentation and works as a preservative in these products. Due to these properties, which are similar to citric acid, lactic acid could be a potential substitute for the latter and may hinder the growth of the global citric acid market during the forecast period.

This citric acid market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global citric acid as a part of the global commodity chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the citric acid market during the forecast period.

Who are the Major Citric Acid Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Archer Daniels Midland Co.
  • Cargill Inc.
  • COFCO Corp.
  • Foodchem International Corp.
  • Gadot Biochemical Industries Ltd.
  • Huangshi Xinghua Biochemical Co. Ltd.
  • Jungbunzlauer Suisse AG
  • RZBC Group Co. Ltd.
  • S.A. Citrique Belge N.V.
  • Tate and Lyle Plc

 

This statistical study of the citric acid market encompasses successful business strategies deployed by the key vendors. The citric acid market is fragmented and the vendors are deploying growth strategies such as innovations, price, and quality of the product to compete in the market.

Product Insights and News

  • Foodchem International Corp. - The company manufactures and markets innovative and standard food additives and ingredients. The products offered include vitamins, thickeners, proteins, acidulants, preservatives, antioxidants, sweeteners, phosphates, plant extracts, and colorants, among others.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The citric acid market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Citric Acid Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the citric acid market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of global commodity chemicals market includes the following core components:

  • Inputs
  • Inbound logistics
  • Operations
  • Outbound logistics
  • Marketing and sales
  • Service
  • Support activities
  • Innovation

The report has further elucidated on other innovative approaches being followed by manufacturers providers to ensure a sustainable market presence.

 

Which are the Key Regions for Citric Acid Market?

Citric Acid Market Market segmentation by region

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37% of the market's growth will originate from Europe during the forecast period. Germany, France, and the UK are the key markets for citric acid market in Europe. Market growth in this region will be faster than the growth of the market in South America and APAC regions.

Rising food and beverage and brewery industry will facilitate the citric acid market growth in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of COVID-19 in 2020 slowed down the growth of the economy of the region. This was because business activities of non-essential industries such as automotive, real estate, and aerospace were affected negatively. However, the outbreak had a mixed impact on the overall growth of the citric acid market in the region. Business activities were either suspended or were carried out with limited capacity. Therefore, the supply chain of raw materials used for the production of citric acid was disrupted up to some extent in 2020. This slowed down the production of citric acid, which, in turn, slowed down the growth of the citric market in 2020. However, there was an increase in the demand for citric acid in the region by the manufacturers of cleaning products, including disinfectants. In addition, the use of citric acid in the food and beverage industry is increasing, as it extends the shelf life of convenience foods. Therefore, the citric acid market in the region is expected to grow during the forecast period.

What are the Revenue-generating Application Segments in the Citric Acid Market?

Citric Acid Market Segmentation

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The citric acid market share growth by the application segments. Food and beverages segment will be significant during the forecast period. Citric acid is the most commonly used additive in food and beverage products. Typically, it is used for flavor fixation, bacterial stabilization, sterilization, flavor enhancement, and adjustment of acid levels. Citric acid is frequently used in ice cream, puddings, desserts, canned and jarred foods, sauces, cake mixes, baked goods, packaged vegetables and fruits, frozen fish products such as herring, crab, and shrimp, and cheese products. Citric acid also finds applications in various beverage products such as fruit juices, soft drinks, energy drinks, cider, soda, beer, and wine.

This report provides an accurate prediction of the contribution of all the segments to the growth of the citric acid market size and actionable market insights on post COVID-19 impact on each segment.

 

Citric Acid Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 8.2%

Market growth 2021-2025

$ 1.86 billion

Market structure

Fragmented

YoY growth (%)

7.40

Regional analysis

Europe, North America, APAC, MEA, and South America

Performing market contribution

Europe at 37%

Key consumer countries

US, Germany, UK, China, and India

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Archer Daniels Midland Co., Cargill Inc., COFCO Corp., Foodchem International Corp., Gadot Biochemical Industries Ltd., Huangshi Xinghua Biochemical Co. Ltd., Jungbunzlauer Suisse AG, RZBC Group Co. Ltd., S.A. Citrique Belge N.V., and Tate and Lyle Plc

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Citric Acid Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive citric acid market growth during the next five years
  • Precise estimation of the citric acid market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the citric acid industry across Europe, North America, APAC, MEA, and South America
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of citric acid market vendors

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1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • 2.2 Value chain analysis
      • Exhibit 01: Parent market
      • Exhibit 02: Market characteristics
      • Exhibit 03: Value Chain Analysis: Commodity chemicals

    3 Market Sizing

    • 3.1 Market definition
      • 3.2 Market segment analysis
        • Exhibit 04: Offerings of vendors included in the market definition
      • 3.3 Market size 2020
        • Exhibit 05: Market segments
      • 3.4 Market outlook: Forecast for 2020 - 2025
        • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)

      4 Five Forces Analysis

      • 4.1 Five forces summary
        • 4.2 Bargaining power of buyers
          • Exhibit 08: Five forces analysis 2020 & 2025
        • 4.3 Bargaining power of suppliers
          • 4.4 Threat of new entrants
            • Exhibit 09: Bargaining power of buyers
          • 4.5 Threat of substitutes
            • Exhibit 10: Bargaining power of suppliers
          • 4.6 Threat of rivalry
            • Exhibit 11: Threat of new entrants
            • Exhibit 12: Threat of substitutes
          • 4.7 Market condition

            5 Market Segmentation by Application

            • 5.1 Market segments
              • 5.2 Comparison by Application
                • 5.3 Food and beverage - Market size and forecast 2020-2025
                  • Exhibit 15: Application - Market share 2020-2025 (%)
                  • Exhibit 16: Comparison by Application
                • 5.4 Pharmaceuticals and personal care products - Market size and forecast 2020-2025
                  • Exhibit 17: Food and beverage - Market size and forecast 2020-2025 ($ million)
                  • Exhibit 18: Food and beverage - Year-over-year growth 2020-2025 (%)
                • 5.5 Detergents and cleaners - Market size and forecast 2020-2025
                  • Exhibit 19: Pharmaceuticals and personal care products - Market size and forecast 2020-2025 ($ million)
                  • Exhibit 20: Pharmaceuticals and personal care products - Year-over-year growth 2020-2025 (%)
                • 5.6 Others - Market size and forecast 2020-2025
                  • Exhibit 21: Detergents and cleaners - Market size and forecast 2020-2025 ($ million)
                  • Exhibit 22: Detergents and cleaners - Year-over-year growth 2020-2025 (%)
                • 5.7 Market opportunity by Application
                  • Exhibit 23: Others - Market size and forecast 2020-2025 ($ million)

                6 Customer landscape

                7 Geographic Landscape

                • 7.1 Geographic segmentation
                  • 7.2 Geographic comparison
                    • 7.3 Europe - Market size and forecast 2020-2025
                      • Exhibit 27: Market share by geography 2020-2025 (%)
                      • Exhibit 28: Geographic comparison
                      • Exhibit 29: Europe - Market size and forecast 2020-2025 ($ million)
                    • 7.4 North America - Market size and forecast 2020-2025
                      • Exhibit 30: Europe - Year-over-year growth 2020-2025 (%)
                      • Exhibit 31: North America - Market size and forecast 2020-2025 ($ million)
                    • 7.5 APAC - Market size and forecast 2020-2025
                      • Exhibit 32: North America - Year-over-year growth 2020-2025 (%)
                    • 7.6 MEA - Market size and forecast 2020-2025
                      • Exhibit 33: APAC - Market size and forecast 2020-2025 ($ million)
                      • Exhibit 34: APAC - Year-over-year growth 2020-2025 (%)
                    • 7.7 South America - Market size and forecast 2020-2025
                      • Exhibit 35: MEA - Market size and forecast 2020-2025 ($ million)
                      • Exhibit 36: MEA - Year-over-year growth 2020-2025 (%)
                    • 7.8 Key leading countries
                      • Exhibit 37: South America - Market size and forecast 2020-2025 ($ million)
                    • 7.9 Market opportunity by geography
                      • Exhibit 38: South America - Year-over-year growth 2020-2025 (%)
                      • Exhibit 39: Key leading countries

                    8 Drivers, Challenges, and Trends

                    • 8.1 Market drivers
                      • 8.2 Market challenges
                        • 8.3 Market trends
                          • Exhibit 41: Impact of drivers and challenges

                        9 Vendor Landscape

                        • 9.1 Overview
                          • 9.2 Landscape disruption
                            • Exhibit 42: Vendor landscape
                          • 9.3 Competitive scenario
                            • Exhibit 43: Landscape disruption

                          10 Vendor Analysis

                          • 10.1 Vendors covered
                            • 10.2 Market positioning of vendors
                              • Exhibit 45: Vendors covered
                            • 10.3 Archer Daniels Midland Co.
                              • Exhibit 46: Market positioning of vendors
                            • 10.4 Cargill Inc.
                              • Exhibit 47: Archer Daniels Midland Co. - Overview
                              • Exhibit 48: Archer Daniels Midland Co. - Business segments
                              • Exhibit 49: Archer Daniels Midland Co. - Key offerings
                              • Exhibit 50: Archer Daniels Midland Co. - Segment focus
                              • Exhibit 51: Cargill Inc. - Overview
                              • Exhibit 52: Cargill Inc. - Product and service
                            • 10.5 COFCO Corp.
                              • 10.6 Foodchem International Corp.
                                • Exhibit 54: Cargill Inc. - Key offerings
                              • 10.7 Gadot Biochemical Industries Ltd.
                                • Exhibit 55: COFCO Corp. - Overview
                                • Exhibit 56: COFCO Corp. - Product and service
                                • Exhibit 57: COFCO Corp. - Key offerings
                              • 10.8 Huangshi Xinghua Biochemical Co. Ltd.
                                • Exhibit 58: Foodchem International Corp. - Overview
                                • Exhibit 59: Foodchem International Corp. - Product and service
                                • Exhibit 60: Foodchem International Corp. - Key offerings
                              • 10.9 Jungbunzlauer Suisse AG
                                • Exhibit 61: Gadot Biochemical Industries Ltd. - Overview
                                • Exhibit 62: Gadot Biochemical Industries Ltd. - Product and service
                                • Exhibit 63: Gadot Biochemical Industries Ltd. - Key offerings
                              • 10.10 RZBC Group Co. Ltd.
                                • Exhibit 64: Huangshi Xinghua Biochemical Co. Ltd. - Overview
                                • Exhibit 65: Huangshi Xinghua Biochemical Co. Ltd. - Product and service
                                • Exhibit 66: Huangshi Xinghua Biochemical Co. Ltd. - Key offerings
                              • 10.11 S.A. Citrique Belge N.V.
                                • Exhibit 67: Jungbunzlauer Suisse AG - Overview
                                • Exhibit 68: Jungbunzlauer Suisse AG - Product and service
                                • Exhibit 69: Jungbunzlauer Suisse AG - Key offerings
                              • 10.12 Tate and Lyle Plc
                                • Exhibit 70: RZBC Group Co. Ltd. - Overview
                                • Exhibit 71: RZBC Group Co. Ltd. - Product and service
                                • Exhibit 72: RZBC Group Co. Ltd. - Key offerings
                                • Exhibit 73: S.A. Citrique Belge N.V. - Overview
                                • Exhibit 74: S.A. Citrique Belge N.V. - Product and service
                                • Exhibit 75: S.A. Citrique Belge N.V. - Key offerings

                              11 Appendix

                              • 11.1 Scope of the report
                                • 11.2 Currency conversion rates for US$
                                  • 11.3 Research methodology
                                    • Exhibit 81: Currency conversion rates for US$
                                    • Exhibit 82: Research Methodology
                                  • 11.4 List of abbreviations
                                    • Exhibit 83: Validation techniques employed for market sizing
                                    • Exhibit 84: Information sources
                                    • Exhibit 85: List of abbreviations

                                  Research Framework

                                  Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

                                  TechnavioINFORMATION SOURCES

                                  Primary sources

                                  • Manufacturers and suppliers
                                  • Channel partners
                                  • Industry experts
                                  • Strategic decision makers

                                  Secondary sources

                                  • Industry journals and periodicals
                                  • Government data
                                  • Financial reports of key industry players
                                  • Historical data
                                  • Press releases
                                  Technavio

                                  TechnavioDATA ANALYSIS

                                  Data Synthesis

                                  • Collation of data
                                  • Estimation of key figures
                                  • Analysis of derived insights

                                  Data Validation

                                  • Triangulation with data models
                                  • Reference against proprietary databases
                                  • Corroboration with industry experts
                                  Technavio

                                  TechnavioREPORT WRITING

                                  Qualitative

                                  • Market drivers
                                  • Market challenges
                                  • Market trends
                                  • Five forces analysis

                                  Quantitative

                                  • Market size and forecast
                                  • Market segmentation
                                  • Geographical insights
                                  • Competitive landscape
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                                  Citric Acid Market market growth will increase by $1.86 bn during 2021-2025.
                                  The citric acid market market is expected to grow at a CAGR of 8.2% during 2021-2025.
                                  Technavio has segmented the citric acid market market by application (food and beverage, pharmaceuticals and personal care products, detergents and cleaners, and others) ,geography (Europe, North America, APAC, MEA, and South America) , and geographic (Europe, North America, APAC, MEA, and South America).
                                  Archer Daniels Midland Co., Cargill Inc., COFCO Corp., Foodchem International Corp., Gadot Biochemical Industries Ltd., Huangshi Xinghua Biochemical Co. Ltd., Jungbunzlauer Suisse AG, RZBC Group Co. Ltd., S.A. Citrique Belge N.V., Tate and Lyle Plc are a few of the key vendors in the citric acid market market.
                                  Europe will register the highest growth rate of 37% among the other regions. Therefore, the citric acid market market in Europe is expected to garner significant business opportunities for the vendors during the forecast period.
                                  The key factors driving the citric acid market market growth are:
                                  • Growing demand for citric acids from detergents and cleaners
                                  • Growing popularity of organic food additives
                                  The citric acid market market vendors should focus on grabbing business opportunities from the food and beverage segment as it accounted for the largest market share in the base year.
                                  • What are the key global market and the regional market share?
                                  • What are the revenue-generating key market segments?
                                  • What are the key factors driving and challenging this market’s growth?
                                  • Who are the key market vendors and their growth strategies?
                                  • What are the latest trends influencing the growth of this market?
                                  • What are the variables influencing the market growth in the primary regions?
                                  • What are the factors influencing the growth of the parent market?
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                                  • Detailed vendors report with competitive landscape
                                  • Covid-19 impact and recovery analysis
                                  • Data on revenue-generating market segments
                                  • Details on the market shares of various regions
                                  • Five-force market analysis

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