Market Summary
Research Methodology on Citric Acid Market
Introduction
This research report aims to provide insights into the market for citric acid and its various applications. To understand the dynamics affecting the market, Market Research Future (MRFR) has conducted a detailed primary and secondary research study, which takes into account all the necessary aspects of the market. The research report focuses on the drivers, restraints, trends, and opportunities of the market over the projected period of 2023-2030. The exhaustive report also covers market segmentation, competitive landscape, and other important aspects of the market.
Research Methodology
The research reports compiled by MRFR are based on a wide range of methodological approaches and utilize several sources of data and information. The research data sources include primary, secondary, and proprietary data analysis techniques. The primary research involves empirical data collection from key industry participants, including industry experts and executives. MRFR conducts interviews with these industry participants and uses their points of view to validate and assess the market size and forecast.
The secondary research is based on a valid estimation method based on secondary data sources, mainly government databases, regulatory databases, private databases, financial databases, industry white papers, investor presentations, public filings, and other related sources. Statistical models, such as the Triangulation method and PESTLE analysis, are conducted diligently to validate the primary as well as the secondary sources of information.
The global citric acid market is analyzed using advanced methods, such as Porter’s Five Forces analysis. Porter’s Five Forces analysis is used to identify the bargaining power of buyers and suppliers, the threat of new entrants and substitutes and the degree of competition in the market. Market attractiveness analysis is used to identify the most attractive segment, in terms of CAGR and market share.
The market data is presented in the form of infographics, tables and graphs with a comprehensive description of the global market landscape. Market dynamics, such as drivers, restraints, and opportunities, are described in detail in the report.
Assumptions
Although the assumptions used in the calculation of the MRFR research report are based on reliable sources, the report should not be seen as completely accurate as many uncertainties could affect the results. Changing consumer preferences, seasonality, fluctuations in the exchange rate, technology innovations, and the introduction of new regulations are some of the factors that could affect the accuracy of the research report.
Technologies
The primary, secondary and proprietary research used for the report is based on the most recent available technological data sources. MRFR uses advanced technologies, such as machine learning and artificial intelligence, to dig out valuable market insights. These technologies are integrated with statistical analysis and other methods used for data triangulation.
Conclusion
The MRFR report on Citric Acid Market provides an in-depth view of the market from 2023 to 2030. It covers all the market drivers, restraints and opportunities with a concise description of the competitive landscape. The report also covers detailed market segmentation, Porter’s Five Forces analysis, and market attractiveness analysis with help of statistical models. The report also takes into account the data sources used, assumptions made, and technologies used.
Market Size & Forecast
Attribute/Metric | Details |
Market Size 2021 | USD 2,965.9 Million |
Market Size 2023 | USD 3,045.3 Million |
Market Size 2030 | USD 4,205.7 Million |
Compound Annual Growth Rate (CAGR) | 4.12% (2023-2030) |
Base Year | 2022 |
Forecast Period | 2023-2030 |
Historical Data | 2019-2021 |
Forecast Units | Value (USD Million) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Form, Function, Application, and Region |
Geographies Covered | North America, Europe, Asia Pacific, R, and the Rest of the World |
Countries Covered | The U.S, Canada, Mexico, the UK, France, Germany, Italy, Spain, China, India, Japan, Australia and New Zealand, South America, the Middle East, and Africa |
Key Companies Profiled | ADM (U.S.), Cargill Incorporated (U.S.), Tate & Lyle (UK), Jungbunzlauer Suisse AG, Basel (Switzerland), Citribel NV (Europe), RZBC GROUP CO., LTD. (China), SHANDONG ENSIGN INDUSTRY CO.,LTD. (China), Huangshi Xinghua Biochemical Co.Ltd. (China), Gadot Biochemical Industries Ltd. (Israel), and Cofco (China) |
Key Market Opportunities | Clean Label Trend to Create Future Revenue-Generating Opportunities for Manufacturers Emerging Demand from Usage In Diverse Cosmetic Products & Formulations |
Key Market Dynamics | Strategic Merger and Acquisition |
Major Players
Citric Acid Market Segmentation
Citric Acid Form Outlook (USD Million, 2020-2030)
Anhydrous
Liquid
Citric Acid Function Outlook (USD Million, 2020-2030)
Acidulant
Antioxidant
Preservative
Flavoring Agent
Citric Acid Application Outlook (USD Million, 2020-2030)
Food & Beverages
Pharmaceuticals & Nutraceuticals
Personal Care
Others
Citric Acid Regional Outlook (USD Million, 2020-2030)
North America Outlook (USD Million, 2020-2030)
North America Citric Acid by Form
Anhydrous
Liquid
North America Citric Acid by Function
Acidulant
Antioxidant
Preservative
Flavoring Agent
North America Citric Acid by Application
Food & Beverages
Pharmaceuticals & Nutraceuticals
Personal Care
Others
US Outlook (USD Million, 2020-2030)
US Citric Acid by Form
Anhydrous
Liquid
US Citric Acid by Function
Acidulant
Antioxidant
Preservative
Flavoring Agent
US Citric Acid by Application
Food & Beverages
Pharmaceuticals & Nutraceuticals
Personal Care
Others
Canada Outlook (USD Million, 2020-2030)
Canada Citric Acid by Form
Anhydrous
Liquid
Canada Citric Acid by Function
Acidulant
Antioxidant
Preservative
Flavoring Agent
Canada Citric Acid by Application
Food & Beverages
Pharmaceuticals & Nutraceuticals
Personal Care
Others
Mexico Outlook (USD Million, 2020-2030)
Mexico Citric Acid by Form
Anhydrous
Liquid
Mexico Citric Acid by Function
Acidulant
Antioxidant
Preservative
Flavoring Agent
Mexico Citric Acid by Application
Food & Beverages
Pharmaceuticals & Nutraceuticals
Personal Care
Others
Europe Outlook (USD Million, 2020-2030)
Europe Citric Acid by Form
Anhydrous
Liquid
Europe Citric Acid by Function
Acidulant
Antioxidant
Preservative
Flavoring Agent
Europe Citric Acid by Application
Food & Beverages
Pharmaceuticals & Nutraceuticals
Personal Care
Others
Germany Outlook (USD Million, 2020-2030)
Germany Citric Acid by Form
Anhydrous
Liquid
Germany Citric Acid by Function
Acidulant
Antioxidant
Preservative
Flavoring Agent
Germany Citric Acid by Application
Food & Beverages
Pharmaceuticals & Nutraceuticals
Personal Care
Others
Italy Outlook (USD Million, 2020-2030)
Italy Citric Acid by Form
Anhydrous
Liquid
Italy Citric Acid by Function
Acidulant
Antioxidant
Preservative
Flavoring Agent
Italy Citric Acid by Application
Food & Beverages
Pharmaceuticals & Nutraceuticals
Personal Care
Others
France Outlook (USD Million, 2020-2030)
France Citric Acid by Form
Anhydrous
Liquid
France Citric Acid by Function
Acidulant
Antioxidant
Preservative
Flavoring Agent
France Citric Acid by Application
Food & Beverages
Pharmaceuticals & Nutraceuticals
Personal Care
Others
Spain Outlook (USD Million, 2020-2030)
Spain Citric Acid by Form
Anhydrous
Liquid
Spain Citric Acid by Function
Sports
Multifunctional
Spain Citric Acid by Application
Food & Beverages
Pharmaceuticals & Nutraceuticals
Personal Care
Others
UK Outlook (USD Million, 2020-2030)
UK Citric Acid by Form
Anhydrous
Liquid
UK Citric Acid by Function
Sports
Multifunctional
UK Citric Acid by Application
Food & Beverages
Pharmaceuticals & Nutraceuticals
Personal Care
Others
Rest of Europe Outlook (USD Million, 2020-2030)
Rest of Europe Citric Acid by Form
Anhydrous
Liquid
Rest of Europe Citric Acid by Function
Acidulant
Antioxidant
Preservative
Flavoring Agent
Rest of Europe Citric Acid by Application
Food & Beverages
Pharmaceuticals & Nutraceuticals
Personal Care
Others
Asia-Pacific Outlook (USD Million, 2020-2030)
Asia-Pacific Citric Acid by Form
Anhydrous
Liquid
Asia-Pacific Citric Acid by Function
Acidulant
Antioxidant
Preservative
Flavoring Agent
Asia-Pacific Citric Acid by Application
Food & Beverages
Pharmaceuticals & Nutraceuticals
Personal Care
Others
China Outlook (USD Million, 2020-2030)
China Citric Acid by Form
Anhydrous
Liquid
China Citric Acid by Function
Acidulant
Antioxidant
Preservative
Flavoring Agent
China Citric Acid by Application
Food & Beverages
Pharmaceuticals & Nutraceuticals
Personal Care
Others
India Outlook (USD Million, 2020-2030)
India Citric Acid by Form
Anhydrous
Liquid
India Citric Acid by Function
Acidulant
Antioxidant
Preservative
Flavoring Agent
India Citric Acid by Application
Food & Beverages
Pharmaceuticals & Nutraceuticals
Personal Care
Others
Japan Outlook (USD Million, 2020-2030)
Japan Citric Acid by Form
Anhydrous
Liquid
Japan Citric Acid by Function
Acidulant
Antioxidant
Preservative
Flavoring Agent
India Citric Acid by Application
Food & Beverages
Pharmaceuticals & Nutraceuticals
Personal Care
Others
Australia & New Zealand Outlook (USD Million, 2020-2030)
Australia & New Zealand Citric Acid by Form
Anhydrous
Liquid
Australia & New Zealand Citric Acid by Function
Acidulant
Antioxidant
Preservative
Flavoring Agent
Australia & New Zealand Citric Acid by Application
Food & Beverages
Pharmaceuticals & Nutraceuticals
Personal Care
Others
Rest of Asia-Pacific Outlook (USD Million, 2020-2030)
Rest of Asia-Pacific Citric Acid by Form
Anhydrous
Liquid
Rest of Asia-Pacific Citric Acid by Function
Acidulant
Antioxidant
Preservative
Flavoring Agent
Asia-Pacific Citric Acid by Application
Food & Beverages
Pharmaceuticals & Nutraceuticals
Personal Care
Others
Rest of the World Outlook (USD Million, 2020-2030)
Rest of the World Citric Acid by Form
Anhydrous
Liquid
Rest of the World Citric Acid by Function
Acidulant
Antioxidant
Preservative
Flavoring Agent
Rest of the World Citric Acid by Application
Food & Beverages
Pharmaceuticals & Nutraceuticals
Personal Care
Others
South America Outlook (USD Million, 2020-2030)
South America Citric Acid by Form
Anhydrous
Liquid
South America Citric Acid by Function
Acidulant
Antioxidant
Preservative
Flavoring Agent
South America Citric Acid by Application
Food & Beverages
Pharmaceuticals & Nutraceuticals
Personal Care
Others
The Middle East Outlook (USD Million, 2020-2030)
The Middle East Citric Acid by Form
Anhydrous
Liquid
The Middle East Citric Acid by Function
Acidulant
Antioxidant
Preservative
Flavoring Agent
The Middle East Citric Acid by Application
Food & Beverages
Pharmaceuticals & Nutraceuticals
Personal Care
Others
Africa Outlook (USD Million, 2020-2030)
Africa Citric Acid by Form
Anhydrous
Liquid
Africa Citric Acid by Function
Acidulant
Antioxidant
Preservative
Flavoring Agent
Africa Citric Acid by Application
Food & Beverages
Pharmaceuticals & Nutraceuticals
Personal Care
Others
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