Citric Acid Market Demand, Price and Trends 2024

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Citric Acid Market Research Report - Global Industry Analysis,
Size, Growth and Forecast to 2024 | Hexa Research
“Global citric acid market size was estimated at USD
2.89 billion in 2016 and is expected to witness
significant growth on account of its extensive use in
numerous applications right from food & beverages to
metal finishing.”
The Global Citric Acid Market is expected to reach USD 5.73 billion by 2024 driven by its increasing use in
food & beverages and household detergents & cleaners. The growth of these end-use industries, particularly
in emerging economies of Asia Pacific region, is anticipated to boost the growth of the chemical over the
projected period.
The biobased and chelating characteristics of citric acid make it a viable solution to several toxic substances
used for manufacturing detergents & cleaners, especially for household purposes. Rising awareness regarding
cleanliness and hygiene is expected to augment the demand for detergents & cleaners, resulting in a volume
CAGR of 3.8% over the projected period.
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Asia Pacific dominated the global industry accounting for 29.6% of the global citric acid market volume share
in 2016.
Rapid industrialisation resulting in the presence of large-scale manufacturing bases for food & beverages,
pharmaceuticals, and cosmetics is expected to augment the demand for the chemical as an intermediate in
several processes.
Increasing healthcare expenditure coupled with rising number of ailments across the world is expected to
augment the demand for pharmaceuticals. The demand for citric acid in pharmaceutical applications was
estimated to be 153.1 kilo tons in 2016 and is projected to progress in tandem with the development of the
pharmaceutical sector.
The difference in the properties of citric acid has resulted in making it suitable for use across a broad range of
applications. The dual use of citric acid as a preservative as well as a flavouring agent in foodstuffs is
expected to augment its demand for household purposes. Moreover, its suitability for a broad range of
cuisines makes its suitable for restaurants. Increasing standard of living of consumers is expected to augment
the demand for the product over the projected period.
In line with the growing demand for the chemical, manufacturers such as Jungbunzlauer, ADM, and Cargill are
focusing on increasing their market presence through R&D to introduce innovative products catering to niche
application segments. Thus, the growth of the food & beverages, pharmaceutical, and cosmetic indus tries
coupled with the eco-friendly properties of the product is expected to drive the growth of the citric acid
market over the forecast period.
Hexa Research has segmented the global citric acid market on the basis of application and region:
Segmentation by application, 2014 - 2024 (Kilo Tons) (USD Million)
• Food & beverages
• Household detergents & cleaners
• Pharmaceutical
• Cosmetics
• Others
Segmentation by region, 2014 - 2024 (Kilo Tons) (USD Million)
• North America
• U.S.
• Europe
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• Germany
• Asia Pacific
• China
• India
• Central and South America
• Brazil
• MEA
Key players analyzed
• Archer Daniel Midland
• Cargill
• COFCO Biochemical (Anhui)
• Gadot Biochemical Industries
• Jungbunzlauer Suisse
• Citrique Belge
• Tate & Lyle
• Weifang Ensign Industry Co., Ltd.
• RZBC GROUP CO., LTD.
• Huangshi Xinghua Biochemical
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Table of Content of Citric Acid Market
Chapter 1. Market Summary
1.1. Market trends & movement
Chapter 2. Citric Acid Market Trends: Drivers & Opportunities
2.1. Introduction
2.2. Key industry trends
2.3. Market drivers
2.4. Market restraints
2.5. Value chain analysis
2.6. Porter's Five Forces analysis
2.7. SWOT
Chapter 3. Citric Acid Market Trends, By Application
3.1. Global citric acid market movement, by application, 2016 & 2024
3.1.1. Food & Beverages
3.1.1.1. Market estimates and forecast, 2014 – 2024 (Kilo Tons) (USD Million)
3.1.2. Household Detergents & Cleaners
3.1.2.1. Market estimates and forecast, 2014 – 2024 (Kilo Tons) (USD Million)
3.1.3. Pharmaceutical
3.1.3.1. Market estimates and forecast, 2014 – 2024 (Kilo Tons) (USD Million)
3.1.4. Cosmetics
3.1.4.1. Market estimates and forecast, 2014 – 2024 (Kilo Tons) (USD Million)
3.1.5. Others
3.1.5.1. Market estimates and forecast, 2014 – 2024 (Kilo Tons) (USD Million)
Chapter 4. Citric Acid Market Trends, By Region
4.1. Global citric acid market movement, by region, 2014 & 2025
4.2. North America
4.2.1. Market estimates and forecast, 2014 – 2024 (Kilo Tons) (USD Million)
4.2.2. Market estimates and forecast, by application, 2014 – 2024 (Kilo Tons) (USD Million)
4.3. Europe
4.3.1. Market estimates and forecast, 2014 – 2024 (Kilo Tons) (USD Million)
4.3.2. Market estimates and forecast, by application, 2014 – 2024 (Kilo Tons) (USD Million)
4.4. Asia Pacific
4.4.1. Market estimates and forecast, 2014 – 2024 (Kilo Tons) (USD Million)
4.4.2. Market estimates and forecast, by application, 2014 – 2024 (Kilo Tons) (USD Million)
4.5. Central and South America
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4.5.1. Market estimates and forecast, 2014 – 2024 (Kilo Tons) (USD Million)
4.5.2. Market estimates and forecast, by application, 2014 – 2024 (Kilo Tons) (USD Million)
4.6. MEA
4.6.1. Market estimates and forecast, 2014 – 2024 (Kilo Tons) (USD Million)
4.6.2. Market estimates and forecast, by application, 2014 – 2024 (Kilo Tons) (USD Million)
Chapter 5. Key Country Markets
5.1. U.S.
5.1.1. Market estimates and forecast, 2014 – 2024 (Kilo Tons) (USD Million)
5.1.2. Market estimates and forecast, by application, 2014 – 2024 (Kilo Tons) (USD Million)
5.2. Germany
5.2.1. Market estimates and forecast, 2014 – 2024 (Kilo Tons) (USD Million)
5.2.2. Market estimates and forecast, by application, 2014 – 2024 (Kilo Tons) (USD Million)
5.3. China
5.3.1. Market estimates and forecast, 2014 – 2024 (Kilo Tons) (USD Million)
5.3.2. Market estimates and forecast, by application, 2014 – 2024 (Kilo Tons) (USD Million)
5.4. India
5.4.1. Market estimates and forecast, 2014 – 2024 (Kilo Tons) (USD Million)
5.4.2. Market estimates and forecast, by application, 2014 – 2024 (Kilo Tons) (USD Million)
5.5. Brazil
5.5.1. Market estimates and forecast, 2014 – 2024 (Kilo Tons) (USD Million)
5.5.2. Market estimates and forecast, by application, 2014 – 2024 (Kilo Tons) (USD Million)
Chapter 6. Competitive Landscape
6.1. Competitive landscape analysis, 2016
6.2. Strategic framework
6.3. Potential customer base concentration
6.4. Company market positioning
6.5. Company profiles
6.5.1. Archer Daniel Midland
6.5.1.1. Company Overview
6.5.1.2. Product Benchmarking
6.5.1.3. Financial Performance
6.5.1.4. Recent Initiatives
6.5.2. Cargill
6.5.2.1. Company Overview
6.5.2.2. Product Benchmarking
6.5.2.3. Financial Performance
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6.5.2.4. Recent Initiatives
6.5.3. COFCO Biochemical (Anhui)
6.5.3.1. Company Overview
6.5.3.2. Product Benchmarking
6.5.3.3. Financial Performance
6.5.3.4. Recent Initiatives
6.5.4. Gadot Biochemical Industries
6.5.4.1. Company Overview
6.5.4.2. Product Benchmarking
6.5.4.3. Financial Performance
6.5.4.4. Recent Initiatives
6.5.5. Jungbunzlauer Suisse
6.5.5.1. Company Overview
6.5.5.2. Product Benchmarking
6.5.5.3. Financial Performance
6.5.5.4. Recent Initiatives
6.5.6. Citrique Belge
6.5.6.1. Company Overview
6.5.6.2. Product Benchmarking
6.5.6.3. Financial Performance
6.5.6.4. Recent Initiatives
6.5.7. Tate & Lyle
6.5.7.1. Company Overview
6.5.7.2. Product Benchmarking
6.5.7.3. Financial Performance
6.5.7.4. Recent Initiatives
6.5.8. Weifang Ensign Industry Co., Ltd.
6.5.8.1. Company Overview
6.5.8.2. Product Benchmarking
6.5.8.3. Financial Performance
6.5.8.4. Recent Initiatives
6.5.9. RZBC GROUP CO., LTD.
6.5.9.1. Company Overview
6.5.9.2. Product Benchmarking
6.5.9.3. Financial Performance
6.5.9.4. Recent Initiatives
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6.5.10. Huangshi Xinghua Biochemical
6.5.10.1. Company Overview
6.5.10.2. Product Benchmarking
6.5.10.3. Financial Performance
6.5.10.4. Recent Initiatives
6.5.11. List of other vendors
Chapter 7. Methodology and Scope
7.1. Research methodology
7.2. Research Scope & Assumptions
7.3. List of data sources
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