Citric acid is a weak organic acid that has a sour taste and has various industrial and household uses. It is majorly used as an acidulant in food & beverages to impart a sour taste in drinks, confectioneries, canned food, and desserts. Citric acid also serves as a preservative by lowering the pH of the product and inhibiting bacterial growth. In non-food applications, citric acid is used as a chelating agent and pH regulator in household & industrial cleaners, pharmaceuticals, personal care products as well as in the biochemical industry. The rising demand from the food & beverages sector along with widespread applications in functional beverages, processed foods, and dietary supplements are fueling the growth of the global citric acid market.
The global citric acid market is estimated to be valued at US$ 4543.45 Bn in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Citric Acid Market Demand are ADM (US), Ingredion Incorporated (US), DuPont (US), Kerry Group (Ireland), and Roquette Frères (France).
Key opportunities in the market include expanding applications of citric acid in functional foods, beverages, dietary supplements, and pharmaceuticals owing to its health beneficial properties and introduction of bio-based citric acid produced through fermentation.
Globally players are focusing on strategic expansions and capitalizing on emerging economies with large population bases and growing middle-class population like Asia Pacific and Latin America region where demand for processed and packaged food and beverages is increasing at a rapid pace.
Market drivers
Wide applications of citric acid across industries like food & beverages, pharmaceuticals, personal care, and chemicals is the key driver. Citric acid acts as an effective preservative and acidulant extending the shelf-life of products and providing a characteristic sour taste.
Market restraints
Stringent regulations regarding the dosage limits of citric acid across regions can hamper market growth. Overconsumption of citric acid may lead to gastrointestinal issues, migraines, and joint discomfort in some individuals limiting its usage.
Segment Analysis
The citric acid market is dominated by the food & beverages sub-segment owing to wide applications of citric acid as an acidulant, flavoring agent and preservative in various food and beverage products. Citric acid helps enhance flavors in soft drinks, fruit juices, candies, jams, jellies and other foods. It is commonly used in carbonated drinks, bakery products, confectioneries, ice creams and other packaged food items. Citric acid also acts as a chelating agent which helps prevent metallic spoilage of food. The personal care sub-segment also hold a significant share owing to use of citric acid in various skincare and hair care products for pH adjustment.
Global Analysis
North America dominates the global citric acid market led by high demand from food & beverages industry in the United States. Abundant raw materials availability and strong production bases of key players in the region have further consolidated North America's position. Asia Pacific is anticipated to be the fastest growing market for citric acid owing to rapidly growing food processing and personal care industries in China, India and other developing countries. Considerable investments by major companies to establish production facilities in Asia Pacific will continue driving the regional market. Expansion of end use industries and product innovation are factors expected to fuel demands in Europe in the following years.
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