San Francisco,5 October 2018: According
to a report by Grand View Research, Inc., global citric
acid market is anticipated to value USD 3.83 billion by 2025.
Growing requirement for chemical compound that can increase shelf life of food
and ease digestion is anticipated to propel demand for citric acid. This acid
is likely to impart sourness & tartness and enhance flavor, when used as
additive in food products. In addition, it can also inhibit microbial growth to
increase shelf life of food.
Increasing use of citric acid
in manufacturing of digestive medicines is likely to influence growth of
market. Growing adoption of citric acid as additive in food & beverages to
enhance shelf life can augment market growth during the forecast period (2014
to 2025).
The citric acid market can be
segregated on the basis of form, application, and region. Based on form, the
market can be bifurcated into powder and liquid. In 2016, powder segment
dominated the market and accounted for 63.3% market share. The segment is
likely to lose market share by 2025 attributed to increasing use of liquid form
in food & beverages and detergents. Liquid form of citric acid can be used
in various food and dairy products owing to its properties such as texture
modification, flavor enhancement, and acidifying agent. Such form can also be
used in oil sector as iron control additive for chelating and to maintain pH
level of acidizing agents to reduce precipitation of iron in oil.
Based on application, the
market can be categorized into food & beverages, pharmaceutical, and
others. In 2016, food & beverages segment dominated the market and
accounted for market share 57.9%. It is likely to grow at remarkable CAGR of 5%
from 2017 to 2025. Increasing use of citric acid in dietary supplements and ice
creams can fuel growth of segment. In addition, citric acid can control pH
value in medicines and form salt derivatives of metals and minerals in
pharmaceuticals. Moreover, it can be used with sodium bicarbonate in
effervescent formulae to manufacture ingestion tablets and personal care.
Access
Research Report of Citric
Acid Market@ www.grandviewresearch.com/industry-analysis/citric-acid-market
Other application segments can
include cosmetics, detergents & cleaners, animal feed, and textiles. When
used in cleaners, it is likely to enhance formation of foam and work well
without using water softener. In addition, citric acid can also be used to
develop photographic films by using it in stop bath.
Regional segmentation includes
Europe, North America, Asia Pacific, Central & South America, and Middle
East & Africa. In North America, the market is expected to witness
significant growth during the forecast period attributed to rising demand for
digestive citric acid based pharmaceuticals and food & beverages in the
region. According to world health organization (WHO), around 65 to 70 million
people in North America are likely to face digestive problems. Use of digestive
citric acid in food, beverages, and medicines can resolve problem related to
digestion, which in turn can augment growth of market in this region.
Browse more reports of this category by
Grand View Research at: www.grandviewresearch.com/industry/food-additives-nutricosmetics-flavors-and-fragrances
In Europe, the market is
likely to grow at remarkable rate during the forecast period. In 2016, Germany
accounted for market share equivalent to USD 220.1 million. Prevalence of major
pharmaceutical manufacturers in the region such as Merck; Bayer AG; and
Schering AG can fuel market growth in this region.
In Middle East & Africa,
the market can grow well during the forecast period attributed to growing
awareness regarding benefits of citric acid based pharmaceuticals and food
& beverages in the region. In addition, increasing penetration of
international market participants by establishing plants and offices in the
region to expand their footprint can fuel growth of market.
In Asia Pacific, the market is
anticipated to witness highest growth rate during the forecast period. Increasing
number of geriatric population and prevalence of lifestyle diseases such as
mental health problems, cardiovascular diseases, and gut health-related issues
can influence market growth in this region.
Some of the leading companies
offering citric acid are Metagenics; MP Biomedicals; Cargill, Inc.; Pfizer,
Inc.; and Kenko Corporation. Continual technological developments and
increasing use of advanced machines to manufacture citric acid is likely to
increase production of innovative products such as encapsulated citric acid.
Manufacturing companies can also invest in R&D activities to develop citric
acid products that can be used in multiple applications such as cosmetics,
pharmaceuticals, and detergents.
Access
Press Release of Citric Acid Market@ www.grandviewresearch.com/press-release/global-citric-acid-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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