Citric Acid Market Expected to Reach US$ 5.65 Billion by 2030
Market Overview:
The global citric acid market is anticipated to reach US$ 5.65 billion by 2030, driven by growth in the food segment. The market is projected to grow at a CAGR of 5.8% during the forecast period from 2024 to 2030. Factors such as increasing consumer awareness about the benefits of citric acid, rising demand for sustainable products, and the expanding food industry are contributing to this growth.
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Market Scope:
The report provides key business insights and market sizing by region, products, and applications, with a forecast till 2030. It also analyzes the impact of the COVID-19 pandemic on the market and how the market is recovering from the economic slowdown.
Segmentation:
The market is segmented by form into anhydrous and liquid. By application, it is categorized into food, pharmaceuticals, and cosmetics. The market is further segmented by function into acidulant, antioxidant, preservative, and sequestrant.
Regional Analysis:
The Asia-Pacific (APAC) region is identified as a lucrative opportunity for the global citric acid market and component manufacturers for the next ten years. Despite the economic challenges posed by the COVID-19 pandemic, the market in APAC is resilient and is expected to grow, driven by factors such as increasing health consciousness and a growing middle-class population.
Key Players:
Key players in the global citric acid market include Archer Daniels Midland Company, Cargill, Merck KGaA, Tate & Lyle, COFCO Biochemical, Jungbunzlauer Suisse AG, HUANGSHI XINGHUA BIOCHEMICAL CO.LTD., RZBC GROUP CO., Weifang Ensign Industry Co., Gadot Biochemicals Industries LTD., S.A. Citrique Belge N.V., Pfizer Inc., Danisco A/S, Metagenics, MP Biomedicals, Kenko Corporation, Sunshine, Niran, Thai Citric Acid, Ensign, TTCA Co, Guoxin Union, and others.
Key Questions Answered:
- What is the forecast period of the global citric acid market?
- Which region holds the largest market share in the global citric acid market?
- Who are the key players in the market?
- What will be the CAGR of the global citric acid market during the forecast period?
- What key trends are likely to emerge in the global citric acid market in the coming years?
Key Offerings:
- Market Share, Size, and Forecast by Revenue|2042-2030
- Market Dynamics, Growth drivers, Restraints, Investment Opportunities, and key trends
- Market Segmentation: A detailed analysis by global citric acid
- Landscape, Leading key players and other prominent key players
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