Citric Acid Industry Growth Expected to Reach $9.1 Billion by 2029 at a CAGR of 6.92% | Segmentation and Growth Opportunities
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What Is the Forecast for the Citric Acid Market Growth in 2025?
In recent times, the market size of citric acid has demonstrated substantial growth. The market, which stands at $4.51 billion in 2024, is projected to escalate to $4.88 billion in 2025, indicating a compound annual growth rate (CAGR) of 8.2%. The notable growth observed in the historical phase can be credited to the rise in the food and beverage sector, its use in pharmaceutical fields, its application as a cleaning and chelating agent, as a preservation and flavor enhancer, and its expanded scope in industrial applications.
What Is the Forecast for the Citric Acid Market Size Through 2029?
The market size for citric acid is anticipated to experience robust expansion in the upcoming years. It is predicted to escalate to a value of $6.93 billion by 2029, with a compound annual growth rate (CAGR) of 9.1%. The anticipated growth during the forecast period can be linked to the growing requirement for clean label products, eco-friendly procurement methods, biodegradable polymers, increasing demand for personal care products and cosmetics, and emerging market development. Key trends during the forecast period are expected to be initiatives in green chemistry, personalized and tailored solutions, advancements in technology, innovative specialty chemicals and collaborative efforts.
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What are the Key Market Players in Citric Acid Market and How They’re Evolving?
Major companies operating in the citric acid market include Jungbunzlauer Suisse AG, Cofco Biochemical Co. Ltd., Archer Daniels Midland Company, Cargill Incorporated, Gadot Biochemical Industries Ltd, Tate & Lyle PLC, Huangshi Xinghua Biochemical Co Ltd., RZBC Group Co Ltd., Weifang Ensign Industry Co Ltd., S.A. Citrique Belge N.V., Yixing Biochemical Co Ltd., Shandong Juxian Hongde Citric Acid Company Ltd, Merck KGaA, Foodchem International Corporation, Posy Pharmachem Pvt Ltd, Hawkins Pharmaceutical Group, Saudi Bio-Acids Company, Citrique Belge N.V., TTCA Co Ltd., Jiangsu Guoxin Union Energy Co Ltd., Laiwu Taihe Biochemistry Co Ltd., Bulk Apothecary, Ingredients Online
What Are the Primary Growth Drivers in the Citric Acid Market?
The escalating demand for food safety is predicted to fuel the expansion of the citric acid market. Major sources of essential nutrients like vitamin C, thiamine, niacin, pyridoxine, folic acid, minerals, and dietary fiber are fruits and vegetables. Citric Acid is considered safe for food, although these fruits and vegetables can be tainted with harmful substances before and after harvest. There’s an increasing consciousness about food safety and healthy living among the general public. For example, an article published by the World Health Organization, an international public health organization based in Switzerland, stated in May 2022 that every year, roughly 600 million individuals, almost one in ten globally, fall sick from consuming contaminated food, resulting in 420,000 deaths and a loss of 33 million healthy life years annually. Unsafe food triggers productivity and medical costs losses of USD 110 billion each year in low- and middle-income nations. 40% of the foodborne disease burden is borne by children under five, with 125,000 deaths annually. Consequently, the growing need for food safety is propelling the growth of the citric acid market.
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What Are the Leading Segments in the Global Citric Acid Industry?
The citric acid market covered in this report is segmented –
1) By Form: Liquid, Anhydrous
2) By Key Function: Acidulant, Preservative, Antioxidant, Sequestrant
3) By Application: Food And Beverage, Bakery, Confectionery, Dairy, Pharmaceutical, Personal Care, Other Applications
Subsegments:
1) By Liquid: Citric Acid Solution, Concentrated Liquid Citric Acid
2) By Anhydrous: Granular Anhydrous Citric Acid, Powdered Anhydrous Citric Acid
What Are the Latest Trends in the Citric Acid Market?
The rising preference for low-calorie ready-to-drink beverages is influencing the citric acid market. These beverages, due to their low-calorie content, promote heart health, enhance immunity, and increase energy levels. To illustrate, in February 2022, Coca-Cola, an American beverage firm, introduced a new short-term flavor, Fanta Dragon Fruit Zero Sugar. This caffeine-free and zero-calorie drink contains 100% natural flavors and features a mix of kiwi, pear, and watermelon. Recognized for its distinctive pink color, the beverage is available throughout the country for a short duration, aiming to satisfy consumers looking for unique and refreshing tastes.
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What Is the Regional Outlook for the Citric Acid Market?
Europe and North America was the largest region in the citric acid market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the citric acid market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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This Report Delivers Insight On:
1. How big is the citric acid market, and how is it changing globally?
2. Who are the major companies in the citric acid market, and how are they performing?
3. What are the key opportunities and risks in the citric acid market right now?
4. Which products or customer segments are growing the most in the citric acid market?
5. What factors are helping or slowing down the growth of the citric acid market?
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