MARKET INTRODUCTION
Citric acid is known as a weak organic acid that occurs in citrus fruits. It's manufactured form id mainly used as a food additive, nutritional supplements, and cleaning agents. Citric acid, due to its sour tasting and acidic nature, commonly used as a preservating and flavoring agent. It is also used to preserve or stabilize medicinal products and also as a virus and bacteria's disinfectant.
MARKET DYNAMICS
The global citric acid market is growing at a significant pace owing to the rising application of citric acid in food and beverages industry. Furthermore, the increasing demand of citric acid in phamaceuticals and cosmetics is likely to drive the market in the coming years. However, availability of substitutes, are projected to hinder the growth of the citric acid market. Likewise, the lower impacts of government regulations may provide a lucrative opportunity for market players in the near future.
MARKET SCOPE
The "Global Citric Acid Market Analysis to 2028" is a specialized and in-depth study of the food and beverages industry with a special focus on the global market trend analysis. The report aims to provide an overview of the citric acid market with detailed market segmentation by form, application, function, and grade, and geography. The global citric acid market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading citric acid market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global citric acid market is segmented on the basis of form, application, function, and grade. On the basis of form, the citric acid market is segmented into, anhydrous and liquid. Based on application, the global citric acid market is segmented into, food, pharmaceutical & cosmetics, reagent, and others. On the basis of function, the citric acid market is segmented into, acidulant, antioxidant, preservative, and sequestrant. Based on grade, the global citric acid market is segmented into food grade, pharmaceutical grade, and industrial grade.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global citric acid market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The citric acid market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the citric acid market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the citric acid market in these regions.
MARKET PLAYERS
The reports cover key developments in the citric acid market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from citric acid market are anticipated to lucrative growth opportunities in the future with the rising demand for citric acid in the global market. Below mentioned is the list of few companies engaged in the citric acid market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the citric acid market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Archer Daniels Midland Company
- Cargill, Incorporated
- Cofco Biochemical (Anhui) Co., Ltd.
- Gadot Biochemical Industries Ltd.
- Huangshi Xinghua Biochemical Co. Ltd
- Jungbunzlauer Suisse AG
- RZBC Group Co. Ltd.
- S.A. Citrique Belge N.V.
- Tate & Lyle PLC
- Weifang Ensign Industry Co., Ltd.
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.