NEW YORK , Feb. 20, 2023 /PRNewswire/ -- The Citric Acid Market by Application and Geography - Forecast and Analysis 2021-2025 report has been published by Technavio. Market size is forecast to grow by USD 1.86 billion between 2020 and 2025 at a CAGR of 8.2%. The report provides a comprehensive analysis of growth opportunities at regional levels, new product launches, the latest trends, and the post-pandemic recovery of the global market. Download A PDF Sample Report
By region, the global Citric acid market is segmented into North America , Europe , APAC, MEA, and South America . Europe will account for 37% of market growth during the forecast period. Factors such as increase in awareness of a healthy lifestyle and the health benefits of organic food additives are driving the growth of the Citric acid market in Europe . Buy the report Benzoic Acid
The Citric acid market report includes information on the key products and recent developments of leading vendors, including:
Cargill Inc. - The company offers liquid or anhydrous citric acid.
COFCO Corp. - The company offers citric acid monohydrate.
Huangshi Xinghua Biochemical Co. Ltd. - The company offers citric acid anhydrous and citric acid monohydrate.
Jungbunzlauer Suisse AG - The company offers anhydrous, Monohydrate and other citric acid products.
The market is driven by factors such as the growing demand for citric acid from detergents and cleaners, the growing desire for convenience foods and beverages, and the versatile nature of citric acid. However, the availability of substitutes such as lactic acid will hinder the market growth.
The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, and growth in market share among others. Request a Sample
By application, the market is segmented into food and beverage, pharmaceuticals and personal care products, detergents and cleaners, and others.
By geography, the market is segmented into North America , Europe , APAC, MEA, and South America .
The malic acid market is estimated to grow at a CAGR of 7.33% between 2022 and 2027. The size of the market is forecast to increase by 85.67 thousand tons. The growing demand for processed food is notably driving the market growth, although factors such as the threat from citric acid may impede the market growth.
The fumaric acid market is estimated to grow at a CAGR of 6.2% between 2022 and 2027. The size of the market is forecast to increase by USD 308.14 million . The introduction of ethnic and innovative flavors is notably driving the market growth, although factors such as the increased threat of substitutes from citric acid and malic acid may impede the market growth.
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What are the key data covered in this citric acid market report?
CAGR of the market during the forecast period.
Detailed information on factors that will drive the growth of the market between 2021 and 2025
Precise estimation of the size of the citric acid market and its contribution to the parent market.
Accurate predictions about upcoming trends and changes in consumer behavior.
Growth of the market across North America , Europe , APAC, MEA, and South America .
A thorough analysis of the market's competitive landscape and detailed information about vendors.
Comprehensive analysis of factors that will challenge the growth of citric acid market vendors.
Accelerate at a CAGR of 8.2%
Europe, North America, APAC, MEA, and South America
US, Germany, UK, China, and India
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Archer Daniels Midland Co., Cargill Inc., COFCO Corp., Foodchem International Corp., Gadot Biochemical Industries Ltd., Huangshi Xinghua Biochemical Co. Ltd., Jungbunzlauer Suisse AG, RZBC Group Co. Ltd., S.A. Citrique Belge N.V., and Tate and Lyle Plc
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
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3.4 Market outlook: Forecast for 2020 - 2025
5.3 Food and beverage - Market size and forecast 2020-2025
5.4 Pharmaceuticals and personal care products - Market size and forecast 2020-2025
5.5 Detergents and cleaners - Market size and forecast 2020-2025
5.6 Others - Market size and forecast 2020-2025
7.3 Europe - Market size and forecast 2020-2025
7.4 North America - Market size and forecast 2020-2025
7.5 APAC - Market size and forecast 2020-2025
7.6 MEA - Market size and forecast 2020-2025
7.7 South America - Market size and forecast 2020-2025
10.8 Huangshi Xinghua Biochemical Co. Ltd.
11.2 Currency conversion rates for US$
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