Citric acid is a weak organic acid generally found in the juice of lemons and other sour fruits. Citric acid is used in a number of industries due to its ability to control the growth of microorganisms, provide pH adjustment, sourness and tartness; and enhance flavours. During 2014-2018, the global citric acid production grew at a CAGR of around 4%. The market is currently being driven by its application in a number of food and non-food industries such as beverages, confectioneries, convenience foods, dairy, pharmaceuticals, personal care & cosmetics, detergents & cleansers, feed etc. This report by Expert Market Research entitled “Citric Acid Market Report and Forecast 2019-2024” provides a comprehensive analysis for anyone who plans to foray into the citric acid market.
Historical market trends for the global citric acid industry have been provided from 2014-2018 and forecasts have been presented till 2024. On a regional level, the report has segmented the global citric acid market into the following major regions – Europe, North America, Asia-Pacific, Middle East and Others. Asia pacific currently represents the largest market. Additionally, the report has analysed the global citric acid market on the basis of end-use. At present, food and beverage represents the biggest end use market followed by household detergents and cleaners.
The value chain analysis of the citric acid industry has also been covered in this report encompassing all the activities in the value chain such as procurement, manufacturing, sales and distribution. Furthermore, the study assesses the market based on Porter’s five forces model, which evaluates the level of competition in the market by analysing factors such as bargaining power of buyers and suppliers, threat from substitutes and new entrants. A thorough evaluation of the competitive landscape of the citric acid industry has also been provided. Some of the key players in this market include Weifang Ying Xuan, Lemon Biochemical, COFCO Biochemical, Luxin Jinhe and Jungbunzlauer.
This report provides an exhaustive insight for setting-up and running a citric acid manufacturing plant. Factors such as land requirement, construction requirement, raw material requirement, labour requirement, machinery requirement, manufacturing process, utility requirement, total capital investment, total operating costs, prices, income projections, expenditure projections, profit margins, net present value, return on investment, payback period, etc. have been comprehensively covered in this report.
The following are the key questions answered by this report:
- What are the market trends for the global citric acid market?
- Which are the biggest markets (regions) for citric acid?
- What are the key application areas for citric acid?
- Who are the key manufacturers in the citric acid market?
- What are the land and construction requirements to start a citric acid manufacturing plant?
- What are the machinery requirements to start a citric acid manufacturing plant?
- How is citric acid priced? What are the profit margins at various stages of the supply chain?
- What is the total capital investment required to start a citric acid manufacturing plant?
- What are the running costs of a citric acid manufacturing plant?
- How much revenue can a citric acid manufacturing plant generate?
In order to prepare this research report, Expert Market Research conducted face to face and telephonic interviews with numerous industry participants in the citric acid industry. They included manufacturers, distributors, end users, consultants, marketing professionals, researchers, etc. Primary research accounted for the bulk of the research efforts, complemented by an extensive secondary research. Secondary sources included annual reports, press releases, books, journals, white papers, newspapers, magazines, government sources and various proprietary databases.
Expert Market Research uses its comprehensive database of macroeconomic and industry specific data to produce its market forecasts. The initial baseline forecast is produced with the most recent market data. After an initial baseline forecast, all future macroeconomic and sector-specific events and assumptions are taken into account to generate the final forecast.