The global citric acid market has been witnessing steady growth over the past few years. Citric acid is a weak organic acid that is present in citric fruits such as lemons and limes. It is used as an acidulant and preservative in various food and beverage products. In addition to food & beverages, citric acid finds application across industries such as pharmaceuticals, personal care & cosmetics, detergents & cleaners, and others. It helps enhance flavour and acts as a natural preservative while also providing antimicrobial properties. With rising health-consciousness among consumers, demand for natural and organic ingredients is growing significantly globally. This is expected to drive the demand for citric acid over the coming years.

Market Dynamics:

The global citric acid market is driven by the growing demand from the food & beverage industry. Versatility and cost-effectiveness of citric acid as a preservative and flavouring agent has led to its widespread usage in beverages, confectionery, bakery products, and others. However, fluctuating supply of raw materials due to climatic changes has led to inconsistent supply and price volatility of citric acid over the past decade, restraining the market growth. To overcome this challenge, manufacturers are exploring alternatives sources for deriving citric acid such as fungal fermentation which is opening new opportunities. The development of deeper applications of citric acid across industries like pharmaceuticals and personal care through advancements in material science also presents lucrative opportunities. The market is driven by the increasing demand in various industries and is influenced by multiple factors including market segmentation, key players, and regional outlook.

Key Features of the Study:

• This report provides an in-depth analysis of the global citric acid market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year.
• It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market.
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
• It profiles key players in the global citric acid market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies.
• Key companies covered as a part of this study include Archer Daniels Midland Company, Jungbunzlauer Suisse AG, Basel, Pfizer Inc., Shandong Juxian Hongde Citric Acid Co. Ltd., Delek Group, Cargill, Incorporated, Weifang Ensign Industry Co., Ltd., Tate & Lyle plc., COFCO Biochemical (AnHui) Co. Ltd., and RZBC GROUP.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
• The global citric acid market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
• Stakeholders would have ease in decision-making through various strategy matrices used in analysing the global citric acid market.

Detailed Segmentation:

• By Grade
  • Food Grade
  • Industrial Grade
  • Pharmaceutical Grade
• By Application
  • Acidulant,
  • Cleaning Agent
  • Binding Agent
  • Preservative
  • Others
• By End-use Industry
  • Food & Beverages,
  • Pharmaceutical/Personal Care,
  • Animal Feed,
  • Metal Finishing & Cleaning,
  • Others
• By Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
• Top Companies in the Global Citric Acid Market
  • Archer Daniels Midland Company
  • Jungbunzlauer Suisse AG, Basel
  • Pfizer Inc.
  • Shandong Juxian Hongde Citric Acid Co. Ltd.
  • Delek Group
  • Cargill, Incorporated
  • Weifang Ensign Industry Co., Ltd.
  • Tate & Lyle plc.
  • COFCO Biochemical (AnHui) Co. Ltd.
  • RZBC GROUP