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Global Citric Acid Market: By Form: Anhydrous, Liquid; By Application: Food and Beverages, Household Detergents and Cleaners, Pharmaceuticals; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics; Project Requirements and Cost Analysis; Project Economics; Competitive Landscape; Industry Events and Developments
Global Citric Acid Market Outlook
The global citric acid market reached a volume of about 2.59 million tons in 2022. The market is further expected to grow at a CAGR of 4.1% in the forecast period of 2023-2028 to reach a volume of approximately 3.29 million tons by 2028.
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This report by Expert Market Research entitled “Global Citric Acid Market Report and Forecast 2023-2028” provides a comprehensive analysis for anyone who plans to foray into the industry. At present, food and beverages is the biggest application sector, followed by household detergents and cleaners. Region-wise, Western Europe is one of the significant consumers of the product.
Properties and Applications
Citric acid is a weak organic acid generally found in the juice of lemons and other sour fruits. It 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.
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On the basis of form, the industry can be segmented into:
- Liquid
- Anhydrous
Based on application, the industry can be categorised into:
- Food and Beverages
- Household Detergents and Cleaners
- Pharmaceuticals
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Market Analysis
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 and cosmetics, detergents and cleansers, feed, etc. The growing consumer demand for RTD beverages and processed foods is significantly aiding the industry growth.
The value chain analysis of citric acid has also been covered in this report encompassing all the activities in the value chain such as procurement, manufacturing, sales, and distribution.
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.
Competitive Landscape
The report gives a detailed analysis of the following key players in the global citric acid market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Archer Daniels Midland Company
- Cargill, Incorporated
- Tate & Lyle
- Jungbunzlauer Suisse AG
- COFCO
- Others
In order to prepare this research report, Expert Market Research conducted face to face and telephonic interviews with numerous industry participants in the 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.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Form, Application, Region |
| Breakup by Form | Anhydrous, Liquid |
| Breakup by Application | Food and Beverages, Household Detergents and Cleaners, Pharmaceuticals, Others |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Trade Data Analysis | Major Importing Countries by Value and Volume, Major Exporting Countries by Value and Volume |
| Price Analysis | Historical and Forecast Price Trends- Regional |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Archer Daniels Midland Company, Cargill, Incorporated, Tate & Lyle, Jungbunzlauer Suisse AG, COFCO, Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Citric Acid Market Analysis
8.1 Key Industry Highlights
8.2 Global Citric Acid Historical Market (2018-2022)
8.3 Global Citric Acid Market Forecast (2023-2028)
8.4 Global Citric Acid Market by Form
8.4.1 Anhydrous
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Liquid
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.5 Global Citric Acid Market by Application
8.5.1 Food and Beverages
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Household Detergents and Cleaners
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Pharmaceuticals
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.5.4 Others
8.6 Global Citric Acid Market by Region
8.6.1 Market Share
8.6.1.1 North America
8.6.1.2 Europe
8.6.1.3 Asia Pacific
8.6.1.4 Latin America
8.6.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2018-2022)
9.3.2 Forecast Trend (2023-2028)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2018-2022)
9.4.2 Forecast Trend (2023-2028)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2022)
9.5.2 Forecast Trend (2023-2028)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Trade Data Analysis
12.1 Major Importing Countries
12.1.1 By Volume
12.1.2 By Value
12.2 Major Exporting Countries
12.2.1 By Volume
12.2.2 By Value
13 Price Analysis
13.1 North America Historical Price Trends (2018-2022) and Forecast (2023-2028)
13.2 Europe Historical Price Trends (2018-2022) and Forecast (2023-2028)
13.3 Asia Pacific Historical Price Trends (2018-2022) and Forecast (2023-2028)
13.4 Latin America Historical Price Trends (2018-2022) and Forecast (2023-2028)
13.5 Middle East and Africa Historical Price Trends (2018-2022) and Forecast (2023-2028)
14 Manufacturing Process
14.1 Detailed Process Flow
14.2 Operations Involved
14.3 Mass Balance
15 Project Requirements and Cost Analysis
15.1 Land, Location, and Site Development
15.2 Construction
15.3 Plant Machinery
15.4 Cost of Raw Material
15.5 Packaging
15.6 Transportation
15.7 Utilities
15.8 Manpower
15.9 Other Capital Investment
16 Project Economics
16.1 Capital Cost of the Project
16.2 Techno-Economic Parameters
16.3 Product Pricing and Margins Across Various Levels of the Supply Chain
16.4 Taxation and Depreciation
16.5 Income Projections
16.6 Expenditure Projections
16.7 Financial Analysis
16.8 Profit Analysis
17 Competitive Landscape
17.1 Market Structure
17.2 Key Players
17.3 Company Profiles
17.3.1 Archer Daniels Midland Company
17.3.1.1 Company Overview
17.3.1.2 Product Portfolio
17.3.1.3 Demographic Reach and Achievements
17.3.1.4 Certifications
17.3.2 Cargill, Incorporated
17.3.2.1 Company Overview
17.3.2.2 Product Portfolio
17.3.2.3 Demographic Reach and Achievements
17.3.2.4 Certifications
17.3.3 Tate & Lyle
17.3.3.1 Company Overview
17.3.3.2 Product Portfolio
17.3.3.3 Demographic Reach and Achievements
17.3.3.4 Certifications
17.3.4 Jungbunzlauer Suisse AG
17.3.4.1 Company Overview
17.3.4.2 Product Portfolio
17.3.4.3 Demographic Reach and Achievements
17.3.4.4 Certifications
17.3.5 COFCO
17.3.5.1 Company Overview
17.3.5.2 Product Portfolio
17.3.5.3 Demographic Reach and Achievements
17.3.5.4 Certifications
17.3.6 Others
18 Industry Events and Developments
List of Key Figures and Tables
1. Global Citric Acid Market: Key Industry Highlights, 2018 and 2028
2. Global Citric Acid Historical Market: Breakup by Form (Million Tons), 2018-2022
3. Global Citric Acid Market Forecast: Breakup by Form (Million Tons), 2023-2028
4. Global Citric Acid Historical Market: Breakup by Application (Million Tons), 2018-2022
5. Global Citric Acid Market Forecast: Breakup by Application (Million Tons), 2023-2028
6. Global Citric Acid Historical Market: Breakup by Region (Million Tons), 2018-2022
7. Global Citric Acid Market Forecast: Breakup by Region (Million Tons), 2023-2028
8. North America Citric Acid Historical Market: Breakup by Country (Million Tons), 2018-2022
9. North America Citric Acid Market Forecast: Breakup by Country (Million Tons), 2023-2028
10. Europe Citric Acid Historical Market: Breakup by Country (Million Tons), 2018-2022
11. Europe Citric Acid Market Forecast: Breakup by Country (Million Tons), 2023-2028
12. Asia Pacific Citric Acid Historical Market: Breakup by Country (Million Tons), 2018-2022
13. Asia Pacific Citric Acid Market Forecast: Breakup by Country (Million Tons), 2023-2028
14. Latin America Citric Acid Historical Market: Breakup by Country (Million Tons), 2018-2022
15. Latin America Citric Acid Market Forecast: Breakup by Country (Million Tons), 2023-2028
16. Middle East and Africa Citric Acid Historical Market: Breakup by Country (Million Tons), 2018-2022
17. Middle East and Africa Citric Acid Market Forecast: Breakup by Country (Million Tons), 2023-2028
18. Major Importing Countries by Volume (2020)
19. Major Exporting Countries by Volume (2020)
20. Major Importing Countries by Value (2020)
21. Major Exporting Countries by Value (2020)
22. North America Historical Price Trends and Forecast 2018-2028
23. Europe Historical Price Trends and Forecast 2018-2028
24. Asia Pacific Historical Price Trends and Forecast 2018-2028
25. Latin America Historical Price Trends and Forecast 2018-2028
26. Middle East and Africa Historical Price Trends and Forecast 2018-2028
27. Global Citric Acid Market Structure
Key Questions Answered in the Report
In 2022, the global citric acid market attained a volume of nearly 2.59 million tons.
The makret is projected to grow at a CAGR of 4.1% between 2023 and 2028.
The market is estimated to grow in the forecast period of 2023-2028 to reach about 3.29 million tons by 2028.
The major drivers of the market include growing demand from the food and beverage sector, improving living standards, growing consumer demand for cosmetics, rising disposable incomes, growing pharmaceutical industry, and rapid urbanisation.
The increasing demand of low calorie RTD beverages is the key trend guiding the growth of the citric acid market.
The major regional markets are North America, Europe, the Asia Pacific, Latin America and the Middle East and Africa.
Anhydrous and liquid are the major forms of citric acid in the market.
The application segment is led by the food and beverages market.
The major players in the market are Archer Daniels Midland Company, Cargill, Incorporated, Tate & Lyle, Jungbunzlauer Suisse AG, and COFCO, among others.
Analyst Review
The global citric acid market attained a volume of 2.59 million tons in 2022. driven by the increased product utilisation in the food and cosmetics industry and growing urbanisation. Aided by the rising consumer demand for low calorie ready-to-drink beverages, the industry is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 4.1%. The citric acid market is projected to reach 3.29 million tons by 2028.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its form, the industry can be segmented into anhydrous and liquid. On the basis of application, the food and beverages industry accounts for the leading share in the market. The major regional markets for citric acid are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Archer Daniels Midland Company, Cargill, Incorporated, Tate & Lyle, Jungbunzlauer Suisse AG, and COFCO, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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