CITRIC ACID ESTER MARKET ANALYSIS

Citric Acid Ester MarketSize and Trends

Global citric acid ester market is expected to surpass US$ 468.6 million by the end of 2030 and exhibit a CAGR of 5.6% during the forecast period (2022 to 2030).

Market Trends

Citric acid ester is used as plasticizers to reduce hardness of polymers (rubber and plastic) and can be further used to regulate viscosity. Cost effectiveness and the ability of plastics to transform into various shapes is augmenting the use of plastic in construction and automotive sectors. Surging use of plastics in packaging industry for the protection of equipment from scratches and dust is also boosting the demand for citric acid ester for imparting flexibility to plastic polymers.

Figure 2. Global Citric Acid Ester Market Revenue Share (%), By End-Use Industry, 2021

Among end-use industry, food & beverages segment accounted for the highest market share of 26.9% in the global citric acid ester market in 2021. Increasing use of citric acid plays a huge role in enhancing flavors, particularly in the drinks industry, as it provides a sour, and refreshing flavor which offsets the sweetness of many drinks. Many professional chefs also testify for it, as it enables them to fine tune their dishes and balance off any unwanted naturally occurring sweetness.