Global Citric Acid Market Growth 2023-2029

Global Citric Acid Market Growth 2023-2029

Product Code:450307

Published Date: Feb 08,2023

Pages: 101

Region: Global

Category: Chemical & Material

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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.

LPI (LP Information)' newest research report, the “Citric Acid Industry Forecast” looks at past sales and reviews total world Citric Acid sales in 2022, providing a comprehensive analysis by region and market sector of projected Citric Acid sales for 2023 through 2029. With Citric Acid sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Citric Acid industry.

This Insight Report provides a comprehensive analysis of the global Citric Acid landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Citric Acid portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Citric Acid market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Citric Acid and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Citric Acid.

The global Citric Acid market size is projected to grow from US$ 1801.8 million in 2022 to US$ 2189.3 million in 2029; it is expected to grow at a CAGR of 2189.3 from 2023 to 2029.

Global key players of citric acid include Weifang Ensign Industry, TTCA, RZBC Group, Jiangsu Guoxin Union Energy, Cofco Biochemical, etc. The top five players hold a share about 49%. China is the largest producer, has a share about 63%, followed by Europe and North America, with share 12% and 10%, respectively. The largest market is Europe, with a share about 30%, followed by North America and China, with share 22% and 17%, separately.

This report presents a comprehensive overview, market shares, and growth opportunities of Citric Acid market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:
Segmentation by type
    Citric Acid Monohydrate
    Citric Acid Anhydrous

Segmentation by application
    Food and Drinks
    Pharmaceuticals and Personal Care
    Detergents and Cleaners
    Other

This report also splits the market by region:
    Americas
        United States
        Canada
        Mexico
        Brazil
    APAC
        China
        Japan
        Korea
        Southeast Asia
        India
        Australia
    Europe
        Germany
        France
        UK
        Italy
        Russia
    Middle East & Africa
        Egypt
        South Africa
        Israel
        Turkey
        GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
    Weifang Ensign Industry
    TTCA
    RZBC Group
    Jiangsu Guoxin Union Energy
    Cofco Biochemical
    Citrique Belge
    Jungbunzlauer Suisse
    ADM
    Cargill
    Laiwu Taihe Biochemistry
    Tate & Lyle
    Natural Biological Group
    Gadot Biochemical Industries
    Huangshi Xinghua Biochemical

Key Questions Addressed in this Report
What is the 10-year outlook for the global Citric Acid market?
What factors are driving Citric Acid market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do Citric Acid market opportunities vary by end market size?
How does Citric Acid break out type, application?
What are the influences of COVID-19 and Russia-Ukraine war?