Market overview:

Citric Acid Market has been valued $ 2.39 billion in the year 2019 and it is estimated to reach $4.47 billion by the year 2026, with a CAGR of 4.0% from 2021 to 2026. Citric acid is most commonly found naturally in the citrus fruits such as in lemons and limes. Citric acid is an organic acid and a natural component of many fruits and fruit juices, this Citric acid is in tart, and sour in taste. A manufactured form of citric acid is mostly used in various applications such as additive in food, cleaning agents, and nutritional supplements; these are the main factors that have considerably increased the demand for the Citric Acid, thereby driving the market for a huge growth of Citric Acid in the upcoming years.

Market Drivers and Restraints:

The main factors that have considerably increased the demand for the Citric Acid is due to the increasing the citric acid in various industries such as in the pharmaceutical & personal care industries also help in augmenting market demand for citric acid products, growing consumer demand for ready to drink beverages and processed foods is significantly aiding the industry growth, Higher demand for the product to preserve food coupled with the surging demand from the food and beverage industry, Innovative beverages with uncommon and ethnic fruit flavours and flavour mixes these are the main factors that have considerably increased the demand for the Citric Acid, thereby driving the market for a huge growth of Citric Acid in the upcoming years.

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https://www.marketdataforecast.com/market-reports/citric-acid-market

Report is segmented as:

Citric Acid market is segmented on the basis of by form, on the basis of by application, on the basis of by function, on the basis of by grade:
Citric Acid market is segmented on the basis of by form into Anhydrous and Liquid
Citric Acid market is segmented on the basis of by application into Food (Beverages, Confectionaries, Convenience Food Products (Creams, Fats and Fillings, Soups and Sauces, Oils), Dairy Products), Pharmaceuticals, And Cosmetics, Reagents and Others
Citric Acid market is segmented on the basis of by function into Acidulant, Antioxidant, Preservative, And Sequestrant
Citric Acid market is segmented on the basis of by grade into Pharmaceutical, Industrial
Geographical Segmentation:

Citric Acid market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa and rest of world. Europe has the dominant share in the Microencapsulation in the year 2019 due to the increase in the number of vegans in the United Kingdom, which has increased demand for natural food additives and preservatives such as citric acid , followed by North America, Asia Pasic, Latin America and Middle East & Africa will register a slower increase in the Citric Acid market

Impact of COVID-19 on Market

Covid-19 pandemic has impacted the growth of the Citric Acid market, The COVID-19 has started in the end of 2019 in Wuhan china; this has affected many industries from different sectors in various countries and also affected Citric Acid market. Covid-19 pandemic has impacted huge on the sales revenue of Citric Acid market. Due to the government restrictions like lockdown in many countries has stopped the production of products by the manufacturing companies

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