Global Citric Acid Market to reach USD 3.81million by 2027.Global Citric Acid Market is valued approximately USD 2.55million in 2020 and is anticipated to grow with a healthy growth rate of more than 5.89% over the forecast period 2021-2027. Citric acid is a naturally occurring weak organic acid found in citrus fruits. It is commercially available through the fermentation medium and appears at ambient temperature as a white, odorless, and crystalline powder. The expanding use of ingredients in the manufacture of chemicals is expected to drive the global citric acid market forward. Because of the current consumer preference for organic food and beverages, the use of citric acid as a natural flavoring agent has increased significantly. This is one of the key citric acid market trends that is propelling the market forward. Thus, rising demand for natural food additives is expected to boost the citric acid market over the forecast period. Increasing urbanization and lifestyle shifts, particularly in developing markets, are driving increased demand for sophisticated household products, which is expected to drive the global citric acid market size. The demand is growing as people become more conscious of citric acid-based pharmaceuticals and foods and beverages. In order to expand their presence, a range of foreign market players are building offices and plants. Pfizer, for example, opened a new pharmaceutical manufacturing plant in January 2017.However, one of the most serious challenges facing the global citric acid market is excessive citric acid consumption. This may result in side effects such as abdominal pain, nausea, vomiting, and diarrhea.Also, another useful property of citric acid is its ability to aid digestion. Many people all over the world suffer from digestive problems, so increasing demand for citric-acid-based foods and beverages is a business opportunity.

North America and Europe recorded for more than 40% of the global citric acid market penetration, while Asia Pacific is expected to grow at a significant CAGR of 6.6 percent during the forecast period. The existence of a large food and beverage industry in these regions is expected to drive the global citric acid market size. The rising demand for organic food additives in these regions is expected to boost the market further.

Major market player included in this report are:
Archer-Daniels-Midland Company
Cargill, Incorporated
Tate & Lyle PLC
JungbunzlauerSusisse AG
COFCO Biochemical Co., Ltd.
Huangshi Xinghua Biochemical Co., Ltd.
RZBC Group Co., Ltd.
Weifang Ensign Industry Co., Ltd
Gadot Biochemical Industries Limited
S.A. CitriqueBelge N.V.

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
ByForms:
Anhydrous citric acid
Liquid citric acid
ByFunctions:
Acidulant
Preservative
Antioxidant
Sequestrant
By Application:
Food
Beverages
Confectioneries
Convenience food products
Dairy products
Pharmaceuticals & personal care
Others


By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027

Target Audience of the Global Citric AcidMarket in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors