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 size is expected to grow by USD 1.86 billion and record a CAGR of 8.20% during 2021-2025.

This post-pandemic citric acid market report has assessed the shift in consumer behavior and has identified and explored the upcoming trends and drivers that the vendors can capitalize on to support prompt business decisions. In this citric acid market analysis report, key drivers such as growing demand for citric acids from detergents and cleaners have been discussed with emerging growth regions, which will offer immense business opportunities. Our analysts have also identified challenges such as potential substitutes, which will impede market growth. With these insights, the vendors can recreate their plan of action to obtain growth opportunities in the future.

What will the Citric Acid Market Size be in 2021?

Citric-Acid-Market-Market-Size-2020-2025

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Who are the Key Vendors in the Citric Acid Market?

The citric acid market forecast report provides insights on complete key vendor profiles and their business strategies to reimage themselves. The profiles include information on the production, competitive landscape, sustainability, and prospects of the leading companies 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

 

The citric acid market is fragmented and the vendors are deploying various growth strategies to compete in the market. Click here to uncover other successful business strategies deployed by the vendors.

This citric acid market report further entails segmentation 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). View our sample report to gather market insights on the segmentations.

To make the most of the opportunities, vendors should focus on fast-growing segments, while maintaining their positions in the slow-growing segments. Fetch actionable market insights on post COVID-19 impact on each product and service segments.

 

Which are the Key Regional Markets for Citric Acid Market?

Citric-Acid-Market-Market-Share-by-Region-2020-2025

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The report offers an up-to-date analysis of the geographical composition of the market. Europe had the largest market share in the citric acid market in 2021, and the region will offer several growth opportunities to market vendors during the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.

37% of the market’s growth will originate from Europe during the forecast period. Germany and the UK are the key markets for citric acid in the region. This report provides estimations of the contribution of all regions to the growth of the citric acid market size.

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What are the Key Factors 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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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
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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
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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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The citric acid market growth will increase by $1865.14 million during 2020-2025.
The citric acid market is expected to grow at a CAGR of 8.20% during 2020-2025.
Technavio has segmented the citric acid market by application (Food and beverage, Pharmaceuticals and personal care products, Detergents and cleaners, and Others) 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.
Europe will register the highest growth rate of 36.65% among the other regions. Therefore, the citric acid 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 growth are:
  • Growing demand for citric acids from detergents and cleaners
The citric acid 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.
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