Citric Acid Market, By Form (Power and Liquid), By Application (Food & Beverages, Pharmaceuticals, Personal Care, and Others) and By Region (North America, Latin America, Europe, Middle East, Asia Pacific, and Africa) - Trends, Analysis and Forecast till 2034

Citric Acid Market was valued at USD 4.2 Billion in 2024 and is projected to grow at a CAGR of 12.00% to reach USD 10.3 Billion by 2034.

Citric Acid is a naturally organic acid that is widely used in various industries and everyday products. It is a weak acid with the chemical formula C6H8O7 and is found in high concentrations in citrus fruits lemons, limes, oranges and grapefruits. However, it can also be produced through fermentation by certain types of fungi such as Aspergillus Niger.

Citric acid is extensively used as a flavoring and acidifying agent in the food and beverage industry. The demand for processed and convenient foods is increasing as a result of the expanding population and shifting customer preferences. Citric acid is a common ingredient in a variety of food and beverage products because of its capacity to enhance flavors, serve as a preservative, and provide an acidic taste and further this factor is likely to drive the demand for the Citric Acid Market.

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Growing Food and Beverage Industry

Citric acid is widely used in the Food and Beverage industry as a flavor enhancer and acidifier. It provides a tangy and acidic taste that enhances the flavor profile of various products. Citric acid is particularly valued for its ability to mimic the natural acidity found in citrus fruits, making it a popular choice for imparting a refreshing taste to beverages and putting a spicy spin to food preparations. The demand for Citric Acid Market is driven by the need for safe and long-lasting food and beverage options.

Increasing Demand in Personal Care Products

The increasing demand for Online Beauty and Personal Care Products is driven by factors like evolving beauty trends, rising consumer awareness of ingredient safety and the desire for effective and natural formulations fuels the growth of Citric Acid Market in the personal care industry. Citric acid's functional properties and alignment with consumer preferences make it a valuable ingredient for formulators and manufacturers in this sector.

Restrains:

The citric acid market is subject to regulatory frameworks and standards imposed by government bodies. Regulations related to food safety, quality control, labeling requirements, and environmental regulations can impact the production, import, and export of citric acid. Compliance with these regulations may require additional investments and can affect market dynamics. Also, factors like weather conditions, crop yields, and transportation costs can lead to fluctuations in raw material prices, which may pose a challenge for citric acid manufacturers and affect market stability.

Citric Acid Market is segmented based on Form, Application and Region.

Form Insight

On the basis of Form, Citric Acid Market is segmented into Powder and Liquid. Powder is expected to dominate the target market growth as powdered citric acid is versatile and can be easily incorporated into various dry formulations. It is commonly used in dry food and beverage mixes, powdered supplements, and dry pharmaceutical formulations.

Application Insights

On the basis of Application, Citric Acid Market is segmented into Food & Beverages, Pharmaceuticals, Personal Care, and Others (detergents & cleansers, animal feed, textile).  Food & Beverages are expected to dominate the target market growth as it is one of the primary consumers of citric acid and citric acid is widely used as a flavoring agent, acidifier, and preservative in various food and beverage products.

Regional Insights:

On the basis of region the Citric Acid Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

North America is estimated to witness a significantly high revenue share over the forecast period, specifically the United States has a well-established food and beverage industry which has been a significant consumer of citric acid. This region has a high demand for carbonated drinks, sauces, dressings, and processed foods, all of which utilize citric acid as a flavor enhancer, acidifier, or preservative. The pharmaceutical and personal care industries in North America also contribute to the demand for Citric Acid Market.

Report Scope:

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2024 to 2034. For the purpose of this study, has segmented the Citric Acid Market report based on Form, Application and Region:

Citric Acid Market, By Form:

• Power
• Liquid

Citric Acid Market, By Application:

• Food & Beverages
• Pharmaceuticals
• Personal Care
• Others (detergents & cleansers, animal feed, textile)

Citric Acid Market, By Region:

• North America
  • Middle East & Africa
    • • GCC
      • Israel
      • South Africa
      • Rest of Middle East & Africa
  • Latin America
    • • Brazil
      • Mexico
      • Rest of Latin America
  • Asia Pacific
    • • China
      • India
      • Japan
      • South Korea
      • Rest of Asia Pacific
  • Europe
    • • Germany
      • UK
      • France
      • Russia
      • Italy
      • Rest of Europe
  • • U.S.
    • Canada

The key players operating the Citric Acid Market includes, Archer-Daniels-Midland Company, Cargill Inc., Tate & Lyle Plc, JUNGBUNZLAUER SUISSE AG, COFCO Biochemical (Anhui) Co., Ltd., HUANGSHI XINGHUA BIOCHEMICAL Co. Ltd., RZBC Group Co. Ltd., Weifang Ensign Industry Co., Ltd., Gadot Biochemical Industries Ltd., andS.A. Citrique Belge N.V.

• In November 2022, Ultima Replenisher launched a range of functional effervescent beverages featuring vitamins, minerals, adaptogens, nootropics, prebiotics, and probiotics called the improved collection of all phenoms. With fresher, organic ingredients, less citrates, ascorbic acid, citric acid, and fruit-derived sugar, this collection has recently improved.
• In September 2022, Givaudan Active Beauty launched new purple 2364 Vibrant Vegan Pigment which contains Citric Acid, Anthocyanins, montmorillonite and Maltodextrin. It is a sustainable vegan pigment for use in makeup formulation.

• S.A. Citrique Belge N.V*
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies

• Archer-Daniels-Midland Company
• Cargill Inc.
• Tate & Lyle Plc
• JUNGBUNZLAUER SUISSE AG
• COFCO Biochemical (Anhui) Co., Ltd.
• HUANGSHI XINGHUA BIOCHEMICAL Co. Ltd.
• RZBC Group Co. Ltd.
• Weifang Ensign Industry Co., Ltd.
• Gadot Biochemical Industries Ltd.

“*” marked represents similar segmentation in other categories in the respective section