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?

The global citric acid market size reached 2.8 Million Tons in 2022. Looking forward, IMARC Group expects the market to reach 3.3 Million Tons by 2028, exhibiting a growth rate (CAGR) of 2.87% during 2023-2028.

What is Citric Acid?

Citric acid is a natural organic acid found in citrus fruits like lemons, oranges, and limes. It is widely used as an acidulant in various food and beverage (F&B) products due to its tart and sour flavor. It finds extensive application in industries, such as pharmaceuticals, cosmetics, and cleaning products. It acts as a natural preservative, extending the shelf life of many food items by preventing microbial growth and oxidation. Moreover, citric acid enhances the flavor of foods and beverages, providing a pleasant tartness without the need for artificial additives.

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

The widespread product utilization in the food and beverage (F&B) sector, used as an acidulant, flavor enhancer, and preservative in a wide range of products, including soft drinks, sauces, and processed foods is impelling the market growth. In addition to this, the rising demand for convenience foods, owing to the hectic schedules and busy lifestyles is acting as another growth-inducing factor. Furthermore, citric acid's ability to regulate pH levels and enhance flavors makes it indispensable in bakery and confectionery products, such as bread, cakes, and candies thus favoring the demand for the market. In line with this, citric acid is used in pharmaceuticals as an excipient, aiding in drug formulation and providing pH control in various medicinal products thus boosting the demand for the market. Besides this, the increasing product adoption as a common ingredient in skincare and cosmetic products, where it serves as a pH adjuster, exfoliating agent, and preservative thereby propelling the market growth.

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

Based on Form:

• Anhydrous
• Liquid

Regional Analysis:

• 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.

Related Reports by IMARC Group:

Citric Acid Manufacturing Plant Project Report 2023: https://www.imarcgroup.com/citric-acid-manufacturing-plant-project-report

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