Global Citric Acid Market Size, Share, Growth, Trends, and Forecast (2024 - 2031)
Global Citric Acid Market Scope: Historical Data (2021 – 2022), Base Year (2023), Forecast Period (2024 – 2031)
Market Segmentation: By Form (Liquid, and Anhydrous), Application (Food and Beverage, (Bakery, Confectionery, Dairy, Beverages, and Other Foods and Beverages), Pharmaceuticals, Personal Care, and Other Applications), and Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa)
Market Overview
The Global Citric Acid Market was valued at USD 3,666.1 million in 2023 and is expected to reach USD 5,095.0 million by 2031 while growing at a CAGR of 4.2% during the forecast period (2024-2031).
*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report
Market Dynamics
This section of the report will analyze various driving and restraining factors that are expected to have a significant impact on the global citric acid market growth. Citric acid, a weak organic acid found naturally in citrus fruits like lemons and limes, plays a crucial role in the citric acid cycle (Krebs cycle or TCA cycle), a central metabolic pathway in living organisms. Its chemical composition is that of a tricarboxylic acid, represented by the molecular formula C6H8O7.
Increasing demand in the food and beverage and cosmetic and personal care industries is fueling the growth of the citric acid market. However, challenges like fluctuating citrus fruit prices and stringent regulatory requirements could impede market expansion.
Furthermore, the global citric acid industry will be analyzed through various tools including PESTLE analysis, and Porter’s analysis.
Segmentation – By Form Analysis
The Global Citric Acid Market is segmented among Liquid, and Anhydrous, based on Form. In 2023, Anhydrous accounted for the majority of the market share*.
*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report
Segmentation – By Application Analysis
The Global Citric Acid Market is segmented among Food and Beverage, Pharmaceuticals, Personal Care, and Other Applications, based on Application. In 2023, Food and Beverage accounted for the majority of the market share*.
*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report
Global Citric Acid Market: Regional Analysis
Based on region, the market is divided into six regions including North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. In 2023, Asia Pacific dominated the market with the highest market share, while Latin America is expected to grow with the highest CAGR during the forecast period (2024 – 2031).
*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report
Competitive Landscape
Some of the key players operating in the market are Jungbunzlauer Suisse AG, Cargill Incorporated, Merck KGaA, Gadot Biochemical Industries, Archer Daniels Midland Company, Foodchem International Corporation, Cofco Biochemical, Posy Pharmachem Pvt Ltd, Hawkins Pharmaceutical Group, and Saudi Bio-Acids Company.
Table of Contents:
1. Research Methodology and Market Scope
Research Methodology
Market Scope
2. Executive Summary
3. Global Citric Acid Market Dynamics
Drivers
Restraints
Opportunity
4. Global Citric Acid Industry Analysis
PEST Analysis
Porter's Five Force Analysis
Recent Deals Analysis
5. Global Citric Acid Market Segmentation, By Form
Global Citric Acid Market Share Analysis, By Form
Global Citric Acid Market Growth Analysis, By Form
Global Citric Acid Market Trends, By Form
o Liquid
o Anhydrous
6. Global Citric Acid Market Segmentation, By Application
Global Citric Acid Market Share Analysis, By Application
Global Citric Acid Market Growth Analysis, By Application
Global Citric Acid Market Trends, By Application
o Food and Beverage
Ø Bakery
Ø Confectionery
Ø Dairy
Ø Beverages
Ø Other Foods and Beverages
o Pharmaceuticals
o Personal Care
o Other Applications
7. Global Citric Acid Market Segmentation, By Region
Global Citric Acid Market Share Analysis, By Region
Global Citric Acid Market Growth Analysis, By Region
Global Citric Acid Market Trends, By Region
o North America
o Europe
o Asia Pacific
o Latin America
o Middle East
o Africa
8. Competitive Landscape
Jungbunzlauer Suisse AG*
o Company Overview
o Financial Performance
o Key Development/Strategies
o SWOT Analysis
Cargill Incorporated
Merck KGaA
Gadot Biochemical Industries
Archer Daniels Midland Company
Foodchem International Corporation
Cofco Biochemical
Posy Pharmachem Pvt Ltd
Hawkins Pharmaceutical Group
Saudi Bio-Acids Company
*Similar analysis will be provided for each company listed above.
