Our latest research report entitled Citric Acid Market (by citric acid market form(liquid, powder form), grade(food, industrial, pharmaceutical grade), application(acidulant, cleaning agent, binding agent), end-use( pharmaceuticals, animal feed, personal care, metal finishing & cleaning)) provides complete and deep insights into the market dynamics and growth of Citric Acid.
The latest information on market risks, industry chain structure Citric Acid cost structure, and opportunities are offered in this report. The past, present, and forecast market information will lead to investment feasibility by studying the essential Citric Acid growth factors.
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Rising Demand for Citric Acid from Emerging Applications such as Food Additives & Animal Feed is Anticipated to Create More Opportunities
The global citric acid market is projected to grow with a CAGR between 5.5% and 6.0% during 2017-2023. Increasing demand for citric acid from detergents & cleaners application, due to characteristic of citric acid to reduce the hardness of water and formation of foam, is the key factor driving the growth of the citric acid market worldwide.
Moreover, growing demand for citric acid as a crucial ingredient in various end-user industries such as Food & beverages, Pharmaceuticals, and Personal Care among others will drive the global citric acid market. Furthermore, rising demand from consumers preferring products including plant-based natural ingredients due to increasing various health issues is anticipated to drive the consumption of citric acid in the food and beverage industry over the forecast period.
However, increasing prices of molasses which is a prime feedstock used in the production of citric acid is the key factor restraining the growth of the global citric acid market. Nevertheless, continuously rising demand for citric acid from emerging applications such as food additives & animal feed are anticipated to create more opportunities for the citric acid manufacturers over the forecast period.
Moreover, environment-friendly properties of citric acid are likely to create more opportunities for citric acid in other applications, as a result, the market size of citric acid is projected to grow at a rapid pace over the forecast period.
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Report Segments the Citric Acid Market by Form, by Grade, by Application, by End-Use, and by Region.
Market segmentation based on the form includes liquid form and powder form. Moreover, the global citric acid market based on grade is segmented into food-grade, and other grades (including industrial grade and pharmaceutical grade).
Furthermore, based on the application the global citric acid market is segmented into acidulant, cleaning agent, binding agent, preservative, and others. The global citric acid market segmentation based on end-use includes food & beverages, pharmaceuticals, animal feed, personal care, metal finishing & cleaning, and others. The food & beverage application segment covers usage of citric acid into bakery & confectionary, dairy, convenience food, and jams & preserve among others.
The companies covered in the report include Archer Daniels Midland Company, Cargill Inc., Tate & Lyle PLC, HUANGSHI XINGHUA Biochemical Company Ltd., RZBC Group Company Ltd., Weifang Ensign Industry Company Ltd., Gadot Biochemical Industries Ltd., Jungbunzlauer Suisse AG, Pfizer Inc., Delek Group and Shandong Juxian Hongde Citric Acid Company Ltd.
Browse Detailed TOC, Description, and Companies Mentioned in Report @ https://www.infiniumglobalresearch.com/food-beverage/global-citric-acid-market
Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the Citric Acid.
- Complete coverage of all the product type and application segments to analyze the trends, developments, and forecast of market size up to 2023.
- Comprehensive analysis of the companies operating in this market.
- The company profile includes analysis of product portfolio, revenue, SWOT analysis, and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand, and/or diversify.