The global citric acid market exceeded the volume of 2 Million Tons in 2018. The market is further projected to reach a volume of nearly 3 Million Tons by 2024, growing at a CAGR of 4% during 2019-2024. Citric acid is a weak organic acid found in the juice of lemons and other citrus fruits. Around 75% of the global consumption of citric acid is accounted by the food and beverages industry, primarily as an acidulant in carbonated soft drinks. In addition to this, it is used to control the growth of microorganisms, for pH adjustment and inducing sourness. In household detergents and cleaners, citric acid is utilized as a co-builder, mainly in concentrated liquid detergents with zeolite builder systems. As citric acid provides a less harmful formulation than phosphates in water systems, it is gaining traction among detergent manufacturers.
Global Citric Acid Market Drivers:
- Due to its various advantageous properties, citric acid is widely used as an additive in food and beverages, personal care products, cleaners and detergents, adhesives and sealants, coatings, inks, plastics and polymers, pharmaceutical products and clinical nutrition, feed and pet food items.
- The chemical makeup and potency of citric acid remains stable for at least five years in its original closed container. Owing to its long shelf-life, it finds application as a preservative, flavoring and coloring agent.
- Growing awareness about the adverse effects caused by the chemicals used in daily use products has led the consumers to shift towards organic products so as to lower their chemical intake. This has created a positive outlook for the growth of the citric acid market.
- Heightened demand for ready-to-drink beverages and processed foods has been witnessed in the developing countries on account of continuous economic growth, busy lifestyles, increasing urbanization and rising disposable incomes. As a result, the emerging regions are expected to be the future growth driver of the citric acid market.
Breakup by Application:
Citric acid is majorly used in the food and beverage industry as an additive, flavor enhancer, preservative and antioxidant in a wide range of food products including soups, mayonnaise, candies, wines, juices, creams and carbonated drinks. Other major application segments of citric acid are household detergents and cleaners, and pharmaceuticals.
Breakup by Form:
On the basis of form, the market has been bifurcated into anhydrous and liquid citric acid. Amongst these, anhydrous citric acid represents the leading segment as it is extensively used for manufacturing a variety of food products such as ice creams, jams, jellies, canned foods, etc.
Region-wise, Western Europe represents the world’s largest consumer of citric acid, wherein the major markets are Germany, France and the United Kingdom. However, demand for citric acid is mature and relatively saturated in the region, particularly in the carbonated beverage sector. Western Europe is followed by the United States, China, Middle East and Africa, Central/Eastern Europe, Brazil and India.
The global citric acid industry is concentrated in nature with a few major players controlling most of the market. As the initial capital cost to set up a citric acid plant is quite high, it is difficult for small players to enter this market. Some of the major players operative in the market are:
- Archer Daniels Midland Company
- Cargill, Incorporated
- Tate & Lyle PLC
- Jungbunzlauer Suisse AG
- Cofco Biochemical (Anhui) Co., Ltd.
- Huangshi Xinghua Biochemical Co. Ltd.
- RZBC Group Co. Ltd.
- Weifang Ensign Industry Co., Ltd.
- Gadot Biochemical Industries Ltd.
- S.A. Citrique Belge N.V.
This report provides a deep insight into the global citric acid industry covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. The report also provides a comprehensive analysis for setting up a citric acid manufacturing plant. The study analyses the processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the citric acid industry in any manner.
Key Questions Answered in This Report:
- How has the global citric acid market performed so far and how will it perform in the coming years?
- What are the key regional markets in the global citric acid industry?
- What are the various forms in the global citric acid industry?
- What are the major application segments in the global citric acid industry?
- What are the various stages in the value chain of the global citric acid industry?
- What are the key driving factors and challenges in the global citric acid industry?
- What is the structure of the global citric acid industry and who are the key players?
- What is the degree of competition in the global citric acid industry?
- What are the profit margins in the global citric acid industry?
- What are the key requirements for setting up a citric acid manufacturing plant?
- How is citric acid manufactured?
- What are the various unit operations involved in a citric acid manufacturing plant?
- What is the total size of land required for setting up a citric acid manufacturing plant?
- What are the machinery requirements for setting up a citric acid manufacturing plant?
- What are the raw material requirements for setting up a citric acid manufacturing plant?
- What are the packaging requirements for citric acid?
- What are the transportation requirements for citric acid?
- What are the utility requirements for setting up a citric acid manufacturing plant?
- What are the manpower requirements for setting up a citric acid manufacturing plant?
- What are the infrastructure costs for setting up a citric acid manufacturing plant?
- What are the capital costs for setting up a citric acid manufacturing plant?
- What are the operating costs for setting up a citric acid manufacturing plant?
- What will be the income and expenditures for a citric acid manufacturing plant?
- What is the time required to break-even?