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Citric Acid Market Is Projected To Reach USD 3.66 Billion By 2022 | Credence Research

July 10, 2019 by Johnson Paul  

In terms of revenue in 2014, the global market for Citric Acid Market was calculated to be USD 2.16 billion and is projected to reach USD 3.66 billion by 2022, growing at a CAGR of 7.4% from 2015 to 2022. In 2014, in terms of volume the market demand for citric acid was 1.80 million tons and is projected to reach 2.60 million tons by 2022 at a CAGR of 5.3% during the forecast period.

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The market is witnessing growth on the back of rising demand for innovative food and beverages with exotic and ethnic fruit flavors and flavor blends. Moreover, increased in popularity of convenience foods such as processed food, frozen food and ready to drink beverages are the factors driving the market growth. Emergence of lactic acid as a new substitute for citric acid is one of the major factor inhibiting the market growth. Untapped economies such as Africa, Brazil, UAE, Syria, Turkey and Egypt offers huge market potential.  

Citric acid is mainly used in food & beverages industries, due to its low toxicity when compared with other acidulants. More than half of the market pie is accounted by food and beverages segment and is projected to maintain their dominance during the forecast period. Household detergents and cleaners is another major application of citric acid and is projected to exhibit average growth rates of 5.1% from 2015 to 2022. Pharmaceuticals and cosmetics are the two emerging applications of citric acid but offers huge growth potential during the forecast period.

By geography, Europe and North America accounted for two third of the pie and is projected to maintain their dominance during the forecast period. In these regions, food and beverages is the major end use application for citric acid in spite of flat to negative growth of carbonated soft drink market in the U.S., Germany and Canada. Asia Pacific is the fastest growing market. It is projected to grow at a CAGR of 7.9% from 2015 to 2022 in terms of revenue. RoW regions such as Brazil, UAE, Turkey and Africa also offers huge market potential and projected to exhibit above average growth rates.

Archer-Daniels-Midland Company, Tate & Lyle PLC, RZBC Group Co. Ltd., Anhui COFCO Biochemical and Jungbunzlauer are some of the major players present in this market.

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Table of Content

Chapter 1 Preface
1.1 Report Description
1.1.1 Purpose of the Report
1.1.2 Target Audience
1.1.3 USP and Key Offerings
1.2 Market Segmentation
1.3 Research Methodology
1.3.1 Phase I – Secondary Research
1.3.2 Phase II – Primary Research
1.3.3 Phase III – Expert Panel Review
1.3.4 Approach Adopted
1.3.5 Key Points

Chapter 2 Executive Summary 
2.1 Market Snapshot: Global Citric Acid Market

Chapter 3 Introduction
3.1 Introduction
3.2 Classification
3.3 Drivers
3.4 Restraints
3.5 Opportunities
3.6 Supply Chain
3.7 Porter’s five force analysis
3.7.1 Bargaining power of suppliers
3.7.2 Bargaining power of buyers
3.7.3 Threat of new entrants
3.7.4 Threat of substitutes
3.7.5 Degree of competition

Chapter 4 Global Citric Acid Market, Application Analysis
4.1 Global Citric Acid Market, by application type
4.2 Food & beverages
4.2.1 Global citric acid demand from food & beverages application, 2014 – 2022, (USD Billion), (Million Tons)
4.3 Pharmaceuticals 
4.3.1 Global citric acid demand from pharmaceuticals application, 2014 – 2022, (USD Billion), (Million Tons)
4.4 Household detergents and cleaners
4.4.1 Global citric acid demand from household detergents and cleaners application, 2014 – 2022, (USD Billion), (Million Tons)
4.5 Cosmetics 
4.5.1 Global citric acid demand from cosmetics application, 2014 – 2022, (USD Billion), (Million Tons) 
4.6 Industrial applications & others
4.6.1 Global citric acid demand from industrial applications & others, 2014 – 2022, (USD Billion), (Million Tons)

Chapter 5 Global Citric Acid Market, Regional Analysis
5.1 Global Citric Acid Market, regional analysis, (2014 v/s 2022)
5.2 North America
5.2.1 US Citric Acid Market, 2014 – 2022, (USD Billion), (Million Tons)
5.2.1 Canada Citric Acid Market, 2014 – 2022, (USD Billion), (Million Tons)
5.2.1 Mexico Citric Acid Market, 2014 – 2022, (USD Billion), (Million Tons)
5.3 Europe
5.3.1 Germany Citric Acid Market, 2014 – 2022, (USD Billion), (Million Tons)
5.3.1 France Citric Acid Market, 2014 – 2022, (USD Billion), (Million Tons)
5.3.1 UK Citric Acid Market, 2014 – 2022, (USD Billion), (Million Tons)
5.3.1 Italy Citric Acid Market, 2014 – 2022, (USD Billion), (Million Tons)
5.3.1 Russia Citric Acid Market, 2014 – 2022, (USD Billion), (Million Tons)
5.3.1 Rest of Europe Citric Acid Market, 2014 – 2022, (USD Billion), (Million Tons)
5.4 Asia Pacific
5.4.1 Japan Citric Acid Market, 2014 – 2022, (USD Billion), (Million Tons)
5.4.1 China Citric Acid Market, 2014 – 2022, (USD Billion), (Million Tons)
5.4.1 India Citric Acid Market, 2014 – 2022, (USD Billion), (Million Tons)
5.4.1 Australia Citric Acid Market, 2014 – 2022, (USD Billion), (Million Tons)
5.4.1 Rest of Asia Pacific Citric Acid Market, 2014 – 2022, (USD Billion), (Million Tons)
5.5 RoW
5.5.1 Brazil Citric Acid Market, 2014 – 2022, (USD Billion), (Million Tons)
5.5.1 Rest of RoW Citric Acid Market, 2014 – 2022, (USD Billion), (Million Tons)

Chapter 6 Competitive Analysis
6.1 Jungbunzlauer Suisse AG
6.2 Tate & Lyle PLC
6.3 Cofco Biochemical (Anhui) Co., Ltd.
6.4 Archer Daniels Midland Company
6.5 Huangshi Xinghua Biochemical Co.Ltd
6.6 RZBC Group Co. Ltd 
6.7 Cargill
6.8 Weifang Ensign Industry Co., Ltd
6.9 S.A. Citrique Belge N.V 
6.10 Gadot Biochemical Industries Ltd

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