Global Citric Acid Market Is Expected To Reach 3.0 Million Tons By 2024


Posted April 23, 2019 by mattjohnsonreal

Citric acid is a natural and weak organic acid with the chemical formula, C6H8O7. It is commonly found in citrus fruits like lemons, lime, oranges, grapefruits, etc.

 
Citric acid is widely used in beverages as an organic acidulant, for controlling the growth of organism, adjusting pH and enhancing flavours. It is also used in bathroom cleaners and detergents as it chelates with metals in hard water, producing foam which helps in removing stains without the need of softening the water. Owing to its safe and non-toxic nature, pleasant acid taste, high water solubility, chelating and buffering properties, citric acid is also used in pharmaceuticals including cosmetics. According to a new report by Expert Market Research, the global citric acid market reached a volume of 2.5 Million Tons in 2018 and is further expected to reach 3.0 Million Tons by 2024.

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The production of citric acid witnessed steady growth during 2014-2018. Rising demand for organic additives in the food, as well as the pharmaceutical sectors couple with changing consumer preference for convenient and safe food products, are driving the market of citric acid. Prohibition on the use of phosphate by environmental regulatory authorities and its replacement by citric acid has also added to the market growth. Some other factors stimulating the market are population growth, increasing disposable income and improving living standards.

Click here for the summary of the report – https://www.expertmarketresearch.com/reports/citric-acid-market

Expert Market Research has analysed the global citric acid market according to end-uses, major regions and top players:

Market breakup by End-use:

Food and Beverages
Household Detergents and Cleaners
Pharmaceuticals Food

Market breakup by Region:

China
US
Europe

Top players:

Weifang Ying Xuan
COFCO Biochemical
Lemon Biochemical
Jungbunzlauer
Tate and Lyle
Cargill

Key findings from the report:

The major end-uses of citric acid include food and beverages, household detergents and cleaners, and pharmaceuticals. In 2018, food and beverages represented the largest end-use segment with the majority of the market share.
Region-wise, China dominated the market with a share of more than a half of the total global production in 2018. It was followed by US and Europe.
Being fragmented in nature, the global citric acid market is surrounded by a number of players. Some of these players include Weifang Ying Xuan, COFCO Biochemical, Lemon Biochemical, Jungbunzlauer, Tate and Lyle and Cargill.

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Issued By Expert Market Research
Country United States
Categories Business , Fashion , Industry
Tags citric acid market , citric acid market analysis , citric acid market growth
Last Updated April 23, 2019