The Global Citric Acid Market has been projected to grow at the CAGR of 6.1% market during 2017-2025. In 2016, the market has generated the revenue of $ 2.9 Billion and now is expected to reach $ 4.7 Billion in terms of revenue by 2025.
Key drivers for this market is rise in the demand for citric acids from detergents and cleaners. Increased demand for citric acid is due to the characteristic of citric acid to reduce the hardness of water and assist foam formation. Properties of citric acid make it an integral component of soaps, detergents, and cleaning solutions. Owing to its acidic nature, citric acid removes grime and dirt spots from fabrics and surfaces. Moreover, its non-corrosive, non-toxic, and biodegradable properties make citric acid even more popular in the detergents and cleaners segment. Also, citric acid helps in descaling of mineral deposits in household and industrial applications. Consequently, the demand for citric acid in detergents and cleaners sector will continue to increase during the forecast period.
Market Segment Insights
The market is gaining prominence through exponentially growing popularity of organic food additives. The market for organic shelf life stabilizers has higher growth in developed countries than the synthetic food additives. Consumers recognize organic food additives as being safer and healthier than synthetic food additives. Increasing consumer demand for clean-label assertions has increased the need for versatile organic flavoring agents such as citric acid. Due to this, the growing demand of organic food additives is likely to impact the growth of the global citric acid market.
Europe and North America together accounted for over 65% of the market in terms of revenue and volume and are projected to maintain their dominance in future. Asia Pacific is projected to be the fastest growing market at a CAGR of 7.9% from 2017 to 2025 in terms of revenue. China is not only the major consumer of citric acid but one of the major producers and exporters also. RoW regions (Latin America and Middle East and Africa) have a huge market potential. Countries such as Saudi Arabia, Egypt, UAE and Syria have significant market opportunities.
Market Competition Assessment:
The major players currently operating in the global citric acid market include Archer Daniels Midland Company, Cargill, Cofco Biochemical (Anhui) Co., Ltd., Gadot Biochemical Industries Ltd, Huangshi Xinghua Biochemical Co.Ltd, Jungbunzlauer Suisse AG, RZBC Group Co. Ltd, S.A. Citrique Belge N.V, Tate & Lyle PLC, and Weifang Ensign Industry Co., Ltd.
Chapter 1 Preface
1.1 Report Description
1.1.1 Purpose of the Report
1.1.2 Target Audience
1.1.3 USP and Key Offerings
1.2 Market Segmentation
1.3 Research Methodology
1.3.1 Phase I – Secondary Research
1.3.2 Phase II – Primary Research
1.3.3 Phase III – Expert Panel Review
1.3.4 Approach Adopted
1.3.5 Key Points
Chapter 2 Executive Summary
2.1 Citric Acid Market Portraiture
2.2 Global Citric Acid Market, by Application, 2016 ($ Million)
2.3 Global Citric Acid Market, by Geography, 2016 (Value %)
Chapter 3 Introduction
3.3.1 The citric acid market is driven by the rising demand for food safety
3.4.1 The citric acid market is vulnerable to fluctuating costs
3.6 Supply Chain
3.7 Porter’s Five Force Analysis
3.7.1 Bargaining power of suppliers
3.7.2 Bargaining power of buyers
3.7.3 Threat of new entrants
3.7.4 Threat of substitutes
3.7.5 Degree of competition
Chapter 4 Global Citric Acid Market, by Application, 2015-2025 ($ Million)
4.2 Food & Beverages
4.4 Household Detergents and Cleaners
4.6 Industrial Applications and others
Chapter 5 Global Citric Acid Market, by Geography, 2015-2025 ($ Million)
5.1 North America (U.S. & Canada)
5.2 Europe (U.K., Germany & Rest of Europe)
5.3 Asia Pacific (China, Japan, Singapore, South Korea and Rest of APAC)
5.4 Latin America (Mexico, Brazil and Rest of LATAM)
5.5 Middle East and Africa (GCC and Rest of MEA)
Chapter 6 Competitive Analysis
6.1 Archer Daniels Midland Company
6.3 Cofco Biochemical (Anhui) Co., Ltd.
6.4 Gadot Biochemical Industries Ltd.
6.5 Huangshi Xinghua Biochemical Co. Ltd.
6.6 Jungbunzlauer Suisse AG
6.7 RZBC Group Co. Ltd.
6.8 S.A. Citrique Belge N.V
6.9 Tate & Lyle PLC
6.10 Weifang Ensign Industry Co., Ltd.