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Global Citric Acid Market is expected to reach 1.8 billion USD by 2022

Author: QYResearch | Publish date: 2018-06-07 | Views: 61
The global Citric Acid market is valued at 1.7 billion USD in 2016 and is expected to reach 1.8 billion USD by the end of 2022, growing at a CAGR of 1.15% between 2016 and 2022.


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Citric acid is a weak organic tricarboxylic acid having the chemical formula C6H8O7. It occurs naturally in citrus fruits. In biochemistry, it is an intermediate in the citric acid cycle, which occurs in the metabolism of all aerobic organisms.

It is used widely as an acidifier, as a flavoring and chelating agent.


Global Citric Acid Market expected to reach USD 1.8 billion USD by 2022 driven by its increasing use in Food & Beverages, Pharmaceuticals & Personal Care and Detergents & Cleansers. 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 bio-based 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 5.23% over the projected period.

 

Asia Pacific dominated the global industry, the Product Capacity accounted for above 67% of the global citric acid market in 2016.but the major consumption regions are Europe and North America, the consumption market share are 31.19% and 25.34% in 2016.

 

Rapid industrialization 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.

 

Citric Acid Competitive landscape and key vendors

Weifang Ensign Industry Co., Ltd.

TTCA Co., Ltd

RZBC Group Co. Ltd.

Cofco Biochemical (Anhui) Co., Ltd.

Jungbunzlauer Suisse AG

Tate & Lyle

S.A. Citrique Belge N.V.

Archer Daniels Midland Company

Cargill Incorporated

Shandong Juxian Hongde Citric Acid Company Ltd

Huangshi Xinghua Biochemical Co.Ltd

Gadot Biochemical Industries Ltd.

Niran (Thailand) Co., Ltd

Sunshine Biotech International Co., Ltd.

Sucroal S.A

 

Click to view the full report TOC, figure and tables

 https://www.qyresearch.com/index/detail/414055/global-citric-acid-cas-77-92-9-market


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