Citric Acid Market Report 2023: Sector is Expected to Reach $4,205.65 Million by 2030 at a 4.12% CAGR

Citric Acid Market Overview:

The citric acid market size was estimated to be USD 2,965.9 million in 2021. The Citric Acid Market is expected to grow from USD 3,045.3 million in 2022 to USD 4,205.65 million by 2030 at a CAGR of 4.12% during the forecast period. (2023-2030). The citric acid produced is also widely used in the food and pharmaceutical industry. Citric acid is one of the most commonly used dietary supplements. Due to the versatility of the food industry, liquid citric acid, a fairly weak organic acid, has found wide use. Many industries use these ingredients for their acidulant, preservative, antioxidant and sequestering properties.

Many processed baby foods contain citric acid because it is beneficial for baby growth and development. It is also a key ingredient in many breakfast cereals and snacks. In addition to its acidic properties, anhydrous citric acid is used as a sugar substitute in many desserts, frozen treats and other foods. In recent years, the production of dairy products and meat substitutes has expanded, which may also increase the demand for anhydrous citric acid in the market. Anhydrous citric acid is often used in the preparation of alcoholic beverages and carbonated soft drinks due to its acidic properties. It is found in juices, syrups, instant tea and coffee (RTD) and various sports and energy drinks. Sales and turnover are likely to increase as anhydrous citric acid finds more applications in the food and beverage industry. 

Free Sample Report @ https://www.marketresearchfuture.com/sample_request/1743

Segmentations:

 On the basis of form, citric acid is segmented into anhydrous and liquid market segmentation. Anhydrous segment accounted for the majority share in 2021, with a market value of approximately US$ 1,212.0 million citric acid market revenue. On the basis of function, citric acid market segmentation includes acidulant, antioxidant, preservative and flavoring agent. In 2021, the segment of most acidifiers was famous. On the basis of application, the market information of the global citric acid industry is classified into food and beverages, drugs and dietary supplements, personal care and others. The food and beverage segment has the largest market share, ~60-65% in 2021.

 By region, the study segments the market into North America, Europe, Asia Pacific and Rest of the World. The region held the largest market share in the citric acid market in North America. However, growth in Asia Pacific will be the fastest CAGR during the forecast period. China is one of the largest producers and exporters of food additives among Asian countries, accounting for nearly three quarters of the global ingredient market for most ingredients used in the food and beverage industry. China produces the ingredients on a large scale and ships them cheaper than other regions, making China a major exporter of citric acid.

Key Players:

Key Companies in the Citric Acid market include ADM (Archer-Daniels-Midland Company),Cargill, Incorporated,Tate & Lyle,Jungbunzlauer,Citribel nv,RZBC GROUP CO., LTD.,SHANDONG ENSIGN INDUSTRY CO., LTD.,Huangshi Xinghua Biochemical Co.Ltd.,Gadot Biochemical Industries Ltd.

Full Report @ https://www.marketresearchfuture.com/reports/citric-acid-market-1743

Regional Insights:

By Region, the study segments the market into North America, Europe, Asia-Pacific, and the Rest of the World. North America Citric Acid market has held the largest market share among the region in the Citric Acid Market.

The major countries studied are the US, Canada, Mexico, the UK, France, Germany, Italy, Spain, China, India, Japan, Australia and New Zealand, South America, the Middle East, and Africa.

Related Reports:

Caprylic Acid Market Research Report Information By End-User (Personal Care and Cosmetics, Pharmaceuticals, Food & Beverage, Fertilizer, and Chemicals), By Source (Coconut Oil, Palm Oil, and Mammal Milk), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032

Tartaric Acid Market Research Report Information By Type (Natural and Synthetic), By Application (Food & Beverages and Pharmaceutical & Nutraceutical), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032

Food Acidulants Market Research Report: Information By Product Type (Citric Acid, Lactic Acid, Sorbic Acid, Malic Acid, Acetic Acid, Others), By Application (Bakery Confectionery, Dairy Frozen Desserts, Beverages, Soups, Sauces Dressings, Sweet Savory Snacks, Others) And By Region (North America, Europe, Asia-Pacific, And the Rest Of The World) –Market Forecast Till 2032

About Market Research Future:

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide.

Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients.

Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions

Tags: Citric Acid market outlook, Citric Acid market research, Citric Acid market, Citric Acid Market Share, Citric Acid Market Insights, Citric Acid Market Overview, Citric Acid Market Growth, Citric Acid Market Analysis, Citric Acid Market Size, Citric Acid Market Trends, Citric Acid Market Report See Campaign: https://www.marketresearchfuture.com/reports/citric-acid-market-1743

Contact Information:

Market Research Future (Part of Wantstats Research and Media Private Limited) 99 Hudson Street, 5Th Floor New York, NY 10013 United States of America +1 628 258 0071 (US) +44 2035 002 764 (UK) Email: sales@marketresearchfuture.com Website: https://www.marketresearchfuture.com

Tags:
Research Newswire, English