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Citric Acid Global Market Report 2022

Citric Acid Global Market Report 2022

  • August 2022
  • 175 pages
  • ID: 6316479
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major players in the citric acid market are Jungbunzlauer Suisse AG, Cofco Biochemical, Archer Daniels Midland Company, Cargill Incorporated, Gadot Biochemical Industries Ltd, Tate And Lyle PLC, RZBC Group Co. Ltd., Weifang Ensign Industry Co. Ltd., Yixing Biochemical Co. Ltd., Weifang Ensign Industry Co. Ltd., Shandong Juxian Hongde Citric Acid Company Ltd and Huangshi Xinghua Biochemical Co.Ltd.

The global citric acid market is expected to grow from $3.59 billion in 2021 to $3.83 billion in 2022 at a compound annual growth rate (CAGR) of 6.5%. The citric acid market is expected to grow to $4.91 billion in 2026 at a CAGR of 6.4%.

The citric acid market consists of sales of citric acid by entities (organizations, sole traders, partnerships) that refer to the weak organic acid that occurs in natural products such as citrus fruits limes, oranges, and lemons.It is produced commercially by the fermentation procedure and it seems white, odorless, and crystalline powder at room temperature.

Citric acid, due to its sour tasting and acidic nature, is commonly used as a preservative and flavoring agent. It also has various benefits to even skin tone and kills bacteria and viruses.

The main types of citric acid are liquid and anhydrous.Liquid Citric Acid is a food-grade, weak organic acid that has a wide range of applications in the food business.

The key functions are acidulant, preservative, antioxidant, and sequestrant having applications in various industries such as food and beverage, bakery, confectionery, dairy, pharmaceutical, personal care, and other applications.

Europe and North America was the largest region in the citric acid market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.

The regions covered in citric acid market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The citric acid market research report is one of a series of new reports that provides citric acid market statistics, including citric acid industry global market size, regional shares, competitors with a citric acid market share, detailed citric acid market segments, market trends and opportunities, and any further data you may need to thrive in the citric acid industry. This citric acid market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The increasing need for food safety is expected to drive the growth of the citric acid market.Fruits and vegetables are the main sources of nutrients like vitamin C, thiamine, niacin, pyridoxine, folic acid, minerals, and dietary fiber.

Citric Acid is recognized as safe for foods and these fruits and vegetables are contaminated with harmful substances pre-harvest and post-harvest.Growing awareness about the food and safety among the people for healthy leaving.

For instance, in February 2019, according to the International Food Safety Conference conducted by WHO, an agency of the United Nations responsible for international public health, more than 600 million people fell sick due to contaminated food with bacteria, viruses, parasites, toxins, or chemicals, and globally 4,20,000 die every year, $95 billion people lose their productivity due to contamination. Therefore, there is a need for food safety that is driving the growth of the citric acid market.

The increasing demand for low-calorie RTD beverages is shaping the citric acid market.RTD beverages have a low calorie count that provides improves heart health, better immunity, and boosts energy.

For example, in July 2021, Molson Coors’, a US-based beverage company, launched Vizzy, a new watermelon hard seltzer drink.This drink is filled with antioxidant vitamin C that is made of watermelon juice and acerola super fruit that comes in four flavors blueberry kiwi, passionfruit, and mango mixed with watermelon.

Each of the drink contains 100 calories and 1 g of sugar.

In June 2019, Tate And Lyle company, a UK-based food and beverage ingredient industry that manufacturers and distributors of acidulants like citric acid partnered with Diethelm Keller Siber Hegner company.With this partnership, the company wants to extend its business in Vietnam’s fast-growing, dynamic food and beverage industry.

Diethelm Keller Siber Hegner company is a Switzerland-based manufacturer of consumer goods healthcare and technology company.

The countries covered in the citric acid market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

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