The report “Citric Acid Market by Form (Anhydrous and Liquid), Application (Food, Pharmaceuticals, and Cosmetics), Function (Acidulant, Antioxidant, Preservative, and Sequestrant), and Region (North America, Europe, Asia-Pacific, and RoW) - Global Forecast to 2020”, defines and segments the citric acid market with analyses and projections of the market size in terms of value and volume. It also identifies the driving and restraining factors of the market with analyses of the trends, opportunities, restraints, and challenges. The size of the market in key regions such as North America, Europe, Asia-Pacific, and Rest of the World (RoW) has been estimated and projected. The market is further segmented on the basis of key countries in these regions.
Browse 69 market data Tables and 47 Figures spread through 131 Pages and in-depth TOC on "Citric Acid Market by Form (Anhydrous and Liquid), Application (Food, Pharmaceuticals, and Cosmetics), Function (Acidulant, Antioxidant, Preservative, and Sequestrant), and Region (North America, Europe, Asia-Pacific, and RoW) - Global Forecast to 2020"
Early buyers will receive 10% customization on reports.
The citric acid market is considered one of the fastest-growing segments of the food additives market due to the increasing consumer preference for convenience food & beverage products. The citric acid market is driven by the rising demand for food safety. However, in developed regions, it has struggled with rising prices of molasses, a key raw material in citric acid production. Despite this, the global market is impacted by large-scale production and export of inexpensive citric acid products from the Asia-Pacific market, especially from China.
The global market for citric acid stood at USD 2.6 Billion in 2014, at USD 3.6 Billion by 2020 and is projected to grow at a CAGR of 5.5% from 2015 to 2020. In 2014, the European region was the largest market for citric acid. The high growth corresponds to the increasing demand for additives of natural origin, especially in processed food & beverage products and cosmetic products. The wide applicability of citric acid as an acidulant, preservative, emulsifier, flavorant, sequestrant, and buffering agent in numerous products of food and non-food industries has led to its propelled growth, which is expected to continue in the forecast period. Emerging applications of citric acid in cleansers and detergents for their biodegradability and other environment-friendly properties are also key driving factors for the citric acid market.
The report includes development strategies and product portfolios of leading companies such as Archer-Daniels-Midland Company (U.S.), Cargill, Incorporated (U.S.), Tate & Lyle PLC (U.K.), and JUNGBUNZLAUER SUISSE AG (Switzerland). Other players include COFCO Biochemical (AnHui) Co., Ltd. (China), HUANGSHI XINGHUA BIOCHEMICAL CO.LTD (China), RZBC Group Co. Ltd. (China), Weifang Ensign Industry Co., Ltd. (China), Gadot Biochemical Industries Limited (Israel), and S.A. Citrique Belge N.V. (Belgium) among others. Leading players have adopted new product development as their key development strategy to serve different consumers from food and non-food sectors in matured and untapped markets as well.
MarketsandMarkets is world’s No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India
Email: [email protected]