Global Citric Acid Market Driven by Increasing Consumption of Beverages and Convenience Foods in Emerging Markets

The food and beverages industry represents the largest consumer of citric acid where it is used in various beverages and as preservative in various food products. As a result of increasing population and improving living standards, the per capita consumption of beverages and convenience foods is also rising. Consequently, the global citric acid market is expected to grow at a CAGR of 3.1% during 2016-2021.



According to IMARC Group’s latest report, “Citric Acid Market – Industry Trends, Manufacturing Process, Plant Setup, Machinery, Raw Materials, Cost and Revenue” the global citric acid market reached a volume of around 2.2 Million Tons in 2015 exhibiting a CAGR of more than 3.2% during 2008-2015. IMARC Group expects the global production of citric acid to reach nearly 2.7 Million Tons by 2021 growing at a CAGR of 3.1%. One of the major factors driving the global demand for citric acid is its increasing usage in end-use industries. Furthermore, emerging markets such as Asia, Africa and Middle East are expected to exhibit above-average growth rates as a result of increase in population and improving living standards which will result in higher per capita consumption of beverages and convenience foods.

Used in a variety of industries, citric acid is one of the most important organic acids. The major end-use industries of citric acid include – food and beverage, pharmaceuticals, household cleaners, animal feed, lubricants, chelating agents, plasticizers, metal cleaners, etc. The food and beverage industry currently accounts for three-quarters of the total global consumption of citric acid. In this industry it is used in carbonated drinks as acidulant which accounts for the majority of use. In food products, it competes with phosphoric, tartaric, DL-malic, fumaric, and lactic acids and is used to enhance flavour, provide sourness and tartness, adjust pH and control the growth of micro-organisms. The household cleaners and detergents industry is the second largest consumer of citric acid where it is mainly used as a replacement for phosphates in concentrated liquid detergents as it does not contribute to the eutrophication of water systems. The third largest consumer of citric acid is the pharmaceutical and cosmetics industry. It is used in pharmaceutical products as result of its safe and nontoxic nature, pleasant acidic taste, buffering and chelating properties and high water solubility. The major applications include prescription pharmaceuticals, antacids, dentifrices, etc. In the cosmetics and toiletries segment, shampoos and conditioners account for most of the consumption.

The report has analysed and segmented the market geographically. On the basis of production, China represents the largest producer of citric acid, accounting for almost 60% of the total global production. China is followed by United States, Western Europe and others. On the basis of consumption, Europe represents the largest consumer of citric acid, followed by United States, China, Middle East and Central/Eastern Europe. On the basis of export and import trends, China is the largest exporter while Germany is the leading importer of citric acid. The report also finds that 4 of the top 5 global citric acid manufacturers are based in China with Weifang Ying Xuan being the biggest producer. Other key global players include - Jungbunzlauer, Tate and Lyle, COFCO Biochemical, Luxin Jinhe, etc.

The report gives a detailed roadmap for starting a citric acid manufacturing plant. The study, done by one of the leading research and advisory firms, covers all the requisite aspects of the global citric acid market. This ranges from a comprehensive view of the market to minute details of the industry performance, processing & manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who are planning to foray into the citric acid market in any manner.

 

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