According to a recent report by Reports and Data, the worldwide market size for citric acid was USD 3.82 billion in 2021, and it is predicted to demonstrate a revenue CAGR of 5.6% over the forecast period. The growing demand for citric acid in pharmaceuticals and personal care products is expected to be the primary driver of market revenue growth.
Citric acid is a tricarboxylic acid that occurs naturally in citrus fruits, and anhydrous citric acid is widely used in pharmaceutical formulations as an excipient owing to its antioxidant properties. It helps to stabilize active ingredients and preserve them. In addition, due to its non-toxic, non-corrosive, antioxidant, and biodegradable characteristics, citric acid is commonly used in detergents. As the popularity of concentrated liquid detergents grows, the demand for citric acid is predicted to rise. Citric acid is also used in a variety of products that kill viruses and bacteria, such as hand sanitizers, insect sprays, and agents that eliminate fungus or algae. Citric acid is also employed in cleaning up nuclear waste and removing toxins from polluted soil. It has a variety of uses in plastics and polymers, coatings, personal care products, adhesives and sealants, and clinical nutrition and pet food items. Due to the detrimental effects of chemicals in everyday products, natural products have gained popularity.
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Top Companies Operating in the Global Liquid Citric Acid Market Report:
Cargill, Incorporated, Tate Lyle, Pfizer, Inc., DuPont, Kenko Corporation, Foodchem International Corporation, BASF SE, Jungbunzlauer Suisse AG, COFCO, and ADM.
Driving Factors of Liquid Citric Acid Market
- Increasing demand in the pharmaceutical and personal care industries: Citric acid is widely used as an excipient in pharmaceuticals and personal care products due to its antioxidant properties. It helps to stabilize active ingredients and preserve them.
- Growing popularity of concentrated liquid detergents: Citric acid is commonly used in detergents owing to its non-toxic, non-corrosive, antioxidant, and biodegradable characteristics. The demand for citric acid is predicted to rise as the preference for concentrated liquid detergents increases.
- Use in food and beverage industry: Citric acid is a natural preservative and acidulant used in the food and beverage industry to enhance the flavor, texture, and shelf life of products.
- Increased demand for natural and organic products: Due to the harmful effects of chemicals found in everyday products, consumers are increasingly turning to natural and organic alternatives, resulting in a surge in demand for citric acid and other natural ingredients.
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The global Liquid Citric Acid Market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Further market segmentation
Form Outlook (Revenue, USD Billion, Volume, Kiloton; 2019-2030)
- Anhydrous
- Liquid
Function Outlook (Revenue, USD Billion, Volume, Kiloton; 2019-2030)
- Acidulant
- Preservative
- Antioxidant
- Flavoring Agent
End-Use Outlook (Revenue, USD Billion, Volume, Kiloton; 2019-2030)
- Food Beverage
- Pharmaceuticals
- Personal Care
- Others
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market? What kind of strategic business plans have they made?
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