The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The rising demand for food safety is expected to drive innovation in citric acid production, propelling the market during the forecast period.

The global citric acid market is expected to grow from $3.87 billion in 2022 to $4.2 billion in 2023 at a compound annual growth rate (CAGR) of 8.6%. The citric acid market size is expected to grow to $5.52 billion in 2027 at a CAGR of 7.1%.

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Global Citric Acid Market Segments Include:

• By Form: Liquid, Anhydrous
• By Key Function: Acidulant, Preservative, Antioxidant, Sequestrant
• By Application: Food And Beverage, Bakery, Confectionery, Dairy, Pharmaceutical, Personal Care, Other Applications
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Europe and North America is the largest region in the global citric acid market in 2021.

Major Market Players in the citric acid market include Jungbunzlauer Suisse AG, Cofco Biochemical, Archer Daniels Midland Company, Cargill Incorporated, Gadot Biochemical Industries Ltd., Tate And Lyle PLC, RZBC Group Co. Ltd.

The citric acid market is being shaped by rising demand for low-calorie RTD beverages. RTD beverages have a low calorie count, which benefits heart health, immunity, and energy levels. For example, Molson Coors, a US-based beverage company, will launch Vizzy, a new watermelon hard seltzer drink, in July 2021. This drink contains antioxidant vitamin C from watermelon juice and acerola super fruit, which is available in four flavours: blueberry, kiwi, passionfruit, and mango mixed with watermelon. Each drink has 100 calories and 1 gramme of sugar.

The Citric Acid Global Market Report 2023 provides a citric acid market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The citric acid market forecast analyzes citric acid market size, citric acid market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Citric acid is a weak organic acid found in natural products such as citrus fruits such as limes, oranges, and lemons. It is commercially produced through fermentation and appears white, odourless, and crystalline powder at room temperature. Citric acid is commonly used as a preservative and flavouring agent due to its sour taste and acidic nature. It also helps to even out skin tone and kills bacteria and viruses.

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