Citric acid's market expansion is being aided by rising demand for convenience food and beverage items. It is utilised as a natural component in the creation of convenience foods and beverages because it provides acidity, serves as a preservative and antioxidant, and enhances the taste of food as a flavour. Citric acid's market expansion is being driven by rising demand for natural and organic food additives. Adverse effects from excessive citric acid use, as well as shifting tastes among health-conscious customers for low-calorie beverages without artificial sweeteners, are projected to dampen demand for citrus-flavored drinks. This aspect is anticipated to limit market expansion. Cargill Incorporated stated in June 2021 that it will invest $140 million to enhance the production capacity of its citric acid factory in Uberlândia and Minas Gerais.
According to Coherent Market Insights, the global Citric Acid Market is estimated to be valued at US$ 3,604.7 million in 2021 and is expected to exhibit a CAGR of 4.6 % over the forecast period (2021-2028).
Market Leaders in the Citric Acid Industry:
1. Archer Daniels Midland Company
Archer-Daniels-Midland Company procures, transports, stores, processes, and merchandises agricultural commodities, products, and ingredients in the United States, Switzerland, the Cayman Islands, Brazil, Mexico, Canada, the United Kingdom, and internationally. In March 2021, ADM Expands Partnership with Farmers Business Network for investigate ways to speed up the development of innovations and ensure their long-term viability. In November 2021, ADM Invests in Farmers Business Network and Expands Partnerships for increase the global food and agriculture value chain. In September 2020, ADM launches flavor to produce beverages and healthy foods facility in China to meet growing demand. The company was founded in 1902 and is headquartered in Chicago, Illinois.
2. Jungbunzlauer Suisse AG, Basel
Founded in 1867, Jungbunzlauer Suisse AG is a producer of biodegradable ingredients for the food, beverage, pharmaceutical, and cosmetics industries, as well as for industrial applications. The company is headquartered in Basel, Switzerland. In November 2020, Jungbunzlauer is building a new citric acid plant in Austria to cover later demand and ensure stable supply.
3. Pfizer Inc.
Pfizer Inc. was founded in 1849 and is headquartered in New York, New York. Pfizer Inc. discovers, develops, manufactures, markets, distributes, and sell biopharmaceutical products worldwide. In December, 2022 announced the U.S. Food
4. Shandong Juxian Hongde Citric Acid Co. Ltd.
Juxian Hongde Citric Acid Co. Ltd is a company that operates in the Chemicals industry. It employs 1-5 people and has $1M-$5M of revenue. The company is headquartered in Rizhao, Shandong, China.
5. Delek Group
Delek Group Ltd., an energy company, engages in the exploration, development, production, and marketing of oil and gas in Israel and internationally. The company operates through three segments: Energy in Israel, Foreign Energy, and Other Operations. It holds interests in the Tamar, Leviathan, and Aphrodite reservoirs in Cyprus; has rights to oil assets in the Gulf of Mexico and Canada, as well as oil and gas reserves in the North Sea off the coast of England; and owns production, treatment, and storage facilities. The company was founded in 1951 and is headquartered in Herzliya, Israel.
6. Cargill, Incorporated
Cargill is an international producer and marketer of food, agricultural, financial, and industrial products, and services. Founded in 1865. Customers turn to Cargill for company scientific expertise when they need to improve an existing product, improve process efficiencies, or find a solution to help them launch a first-to-market innovation. In June 2021, Cargill Incorporated announced it will invest $140 million for expanding the production capacity of its citric acid facility in Uberlândia and Minas Gerais.
7. Weifang Ensign Industry Co., Ltd.
The Ensign Group, Inc. provides skilled nursing, senior living, and rehabilitative services, as well as other ancillary services. It operates through Skilled Services and Standard Bearer segments. The company was incorporated in 1999 and is headquartered in San Juan Capistrano, California.
8. Tate & Lyle plc.
Tate & Lyle PLC, together with its subsidiaries, provides ingredients and solutions to the food, beverage, and other industries in the United States, the United Kingdom, other European countries, and internationally. It operates through three segments: Food & Beverage Solutions, Sucralose, and Primary Products. Tate & Lyle PLC was incorporated in 1903 and is headquartered in London, the United Kingdom. In October 2021, In Dubai, Tate & Lyle plc has opened a new $2 million Technical Application Centre to increase their market speed by using cutting-edge technology to provide our food and beverage partners with faster service and quicker project turnaround timeframes.
9. COFCO Biochemical (AnHui) Co. Ltd.
COFCO Biotechnology Co., Ltd., together with its subsidiaries, engages in the processing and production of biochemical products in China. COFCO Biotechnology Co., Ltd. was founded in 1998 and is based in Bengbu, China.
*Definition- Citric acid is an organic acid found in fruits that may also be synthesised in a laboratory. It adds sourness and acidity to foods and enriches their tastes.
