Citric Acid Market Size Projected to Reach USD 5.12 Billion By 2032
The global citric acid market size is projected to reach around USD 5.12 billion by 2032, increasing from USD 3.52 billion in 2022 growing at a CAGR of 3.82% from 2023 to 2032.
Ottawa, Dec. 12, 2023 (GLOBE NEWSWIRE) — The global citric acid market size accounted for USD 3.65 billion in 2023, According to Precedence Research. North America led the market with the largest market share in 2022.
The citric acid market is driven by the growing food & beverages industry, increasing demand for natural ingredients and rising awareness of health and wellness. Furthermore, the increasing technological advancements in production are expected to propel the market growth during the forecast period.
Citric acid is a weak organic acid that occurs naturally in citrus fruits, such as lemons, limes, oranges, and grapefruits. It has the chemical formula C6H8O7 and is classified as a tricarboxylic acid. Citric acid is widely used in the food and beverage industry as a flavoring agent, preservative, and acidulant. It has a sour taste and is responsible for the tartiness of citrus fruits. In addition to its culinary uses, citric acid is employed in various other industries, including pharmaceuticals, cosmetics, cleaning products and water treatment. Its acidic properties make it useful in controlling the pH of a solution, and it is often added to products to enhance flavor, act as a stabilizing agent, or assist in preserving the freshness of certain foods.
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Citric acid can be produced through fermentation of sugars by certain microorganisms or through chemical synthesis. It is generally recognized as safe (GRAS) by regulatory authorities when used in appropriate amounts in food and other products. The growing product launches by the market players utilizing citric acids are expected to offer a potential opportunity for market expansion during the forecast period.
In March 2023, the newest antimicrobial technology from Noble Biomaterials, a pioneer in the world of antimicrobial solutions for soft surface applications, was officially registered by the EPA. Ionic+® Botanical reduces odor on fabric and other soft surfaces by using a bio-based registered citric acid mix that inhibits the growth of bacteria. As part of the development phase, Noble Biomaterials applied for EPA registration in 2021 and started working on the patented Ionic+® Botanical ingredient. Licensing Noble’s active ingredient based on citric acid enables its licensed partners to assert antimicrobial advantages including surface protection and “odor control” for a range of performance fabric applications.
Citric acid is a widely utilized chemical in cleaning agents, medicinal and nutritional medicines, and food and beverage products. With the licensing of Noble’s citric formula, this widely used product enters a whole new market: the preservation of commonly produced products like textiles. Noble understands that there is a rising need for high-performing, environmentally friendly material preservation solutions and that the Ionic+® Botanical technology can play a significant role in addressing this need.
- The Chinese pharmaceutical industry produced operating revenue of USD 515.6 billion in 2021, up over 20% from the year before.
- The powder was the leading segment in 2022 and is expected to follow the same pattern over the projected period.
- The food & beverages segment is expected to hold a substantial market share during the analysis period.
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The global citric acid market is intended to be fueled by the favorable government regulations. Government regulations related to food additives and pharmaceutical ingredients have been favorable for citric acid market, this has enabled manufacturers to increase their production and expand their market presence. Additionally, citric acid is widely used in the production of carbonated beverages, including soft drinks, energy drinks and sports drinks. As the demand for these beverages continues to rise, the demand for citric acid is observed to grow.
North America is expected to dominate the market during the forecast period. The market growth in the region is attributed to the growing food & beverages industry. The food and beverage sector is a major consumer of citric acid in the region. It is extensively used in the production of beverages, including soft drinks, fruit juices, and flavored drinks. It is also a common ingredient in processed foods, sauces, and condiments. For instance, according to the US Department of Agriculture, in 2022, food expenses made up 12.8 percent of U.S. household spending, up from 12.4 percent in 2021. Food expenditures as a percentage of household income came in third, after housing (33.3%) and transportation (16.8%). The percentages of spending that went into savings, food, transportation, personal insurance/pensions, and clothing increased in 2022 as compared to 2021. Furthermore, there is a greater need for better food and beverage alternatives as a result of increasing awareness of health and well-being. When utilized properly, citric acid is regarded as a natural and safe substance, which encourages its usage in goods that cater to consumers’ health-conscious preferences. Thus, this is expected to drive the market growth in the region.
The Asia Pacific is expected to grow at the highest CAGR during the forecast period. The region has witnessed a shift in dietary habits, with an increasing preference for convenience and processed foods. This trend has contributed to the demand for citric acid as a key ingredient in food processing. In addition, the Asia Pacific region’s large population, combined with urbanization trends, has led to increased consumption of packaged and processed food & beverages, which is expected to drive the demand for citric acid in the region.
The powder segment led the citric acid market in 2022 and is expected to follow the same pattern over the projected period. Citric acid powder is extensively used in the food & beverage industry as an acidulant, flavoring agent, and preservative. It finds applications in various products, including soft drinks, candies, jams, jellies and processed foods. The convenience and versatility of citric acid powder contribute to its widespread use in food processing. In addition, it is also employed in pharmaceuticals and cosmetics for its acidity and chelating properties. It can be used in formulations for skincare products and pharmaceutical preparations. Thereby, driving the segment growth.
The food & beverages segment is expected to hold a substantial market share during the analysis period. With a growing trend towards natural and clean-label products, citric acid, derived from fruits, aligns with consumer preferences for natural ingredients. In addition, the rise in demand for convenient and processed foods has positively influenced the use of citric acid as a versatile ingredient in food processing.
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Citric Acid Market Scope
|Market Size in 2023
|USD 3.65 Billion
|Market Size by 2032
|USD 5.12 Billion
|Growth Rate from 2023 to 2032
|CAGR of 3.82%
|2023 to 2032
|By Form and By Application
Growing demand from the end-use sector
A wide range of metallic salts are produced by citric acid, including complexes containing copper, iron, manganese, magnesium and calcium. Their use as an anticoagulant blood preservative and as a sequestering agent in industrial processes stems from these salts. It also serves as the foundation for its antioxidant properties in fats and oils, where it chelates iron traces to reduce metal-catalyzed oxidation. When used as a flavoring, it consists of two components. Its acidity, which leaves a little aftertaste, accounts for the first, while its capacity to enhance other flavors accounts for the second.
It is believed that citric acid is a better chelating agent. It is utilized to help remove limescale from boilers and evaporators. Water is softened with citric acid, making it suitable for use in soaps and laundry detergents. It may also be used to shampoo to remove wax and coloring from hair. Therefore, these advantages of citric acid increase the demand in various end-use sectors, which in turn, drives the citric acid market during the forecast period.
Adverse effects of citric acid
The adverse reaction associated with citric acid supplements and medications includes an upset stomach, fatigue or weakness, dizziness, nausea, diarrhea, and paresthesia in the hands or feet. Researchers advocate for a more thorough examination of the long-term impacts of artificially produced citric acid. Even though produced citric acid has FDA approval, several experts are skeptical about its safety. Being aware of the potential adverse consequences is wise counsel, especially if one has a fungus allergy or sensitivity to the fungi used in the production process. Mold responses may be associated with artificial citric acid, which is sometimes made using genetically modified ingredients. These problems are impeding the market expansion for citric acid.
Growing demand for eco-friendly cleaning agent
The trends toward eco-friendly cleaning products are being driven by environmental concerns, and citric acid is a key component of this change. Conventional cleaning products frequently include chemicals that are dangerous for the environment and for people. Since it is a naturally occurring and biodegradable material, citric acid is a useful and eco-friendly substitute. Both industrial and domestic cleaning products, such as soaps, detergents, and surface cleansers utilize citric acid. The market for eco-friendly products has also been boosted by rising consumer awareness of sustainable living practices and strict government laws banning dangerous cleaning chemicals. As a result, the industry is expanding as more manufacturers move to clean solutions based on citric acid.
- Trifluoroacetic Acid Market: The global trifluoroacetic acid market size was evaluated at USD 304.5 million in 2022 and it is projected to hit around USD 403.29 million by 2032, poised to grow at a CAGR of 2.9% during the forecast period 2023 to 2032.
- Phosphoric Acid Market: The global phosphoric acid market size surpassed USD 47.6 billion in 2022 and is projected to hit around USD 74.27 billion by 2032, expanding at a CAGR of 4.6% during the forecast period from 2023 to 2032.
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- In June 2022, Monomagnesium citrate is a recently launched product by Jungbunzlauer, a significant participant in the citric acid industry. Primarily utilized as a mineral source in functional meals, drinks, and dietary supplements, this monobasic magnesium salt has a molar ratio of 1:1. Monomagnesium citrate is the recommended magnesium salt for mineral-fortified beverage powders because of its highly soluble nature and pleasantly acidic flavor. With the launch of this new product, Jungbunzlauer hopes to meet the increasing demand from customers for functional food additives that not only enhance flavor but also provide extra nutritional advantages.
- In November 2022, a new product named Cal2Mg, a combination of magnesium and calcium citrate, was introduced by Gadot Biochemical Industries. A special granulation method along with the inclusion of a binder is used to create the product. Through this procedure, the product’s texture is improved, making it simpler to handle and use in a variety of culinary applications. With this introduction, Gadot Biochemical Industries intends to meet the increasing demand from customers for premium, functional food ingredients that can offer further nutritional advantages.
Market Key Players:
- Merck KGaA
- Cofco Biochemical
- Jungbunzlauer Suisse AG
- Cargill Incorporated
- Hawkins Pharmaceutical Group
- Gadot Biochemical Industries
- Archer Daniels Midland Company
- Foodchem International Corporation
- Posy Pharmachem Pvt Ltd
- Saudi Bio-Acids
Key Market Segments
- Food and Beverages
- North America
- Latin America
- Middle East and Africa
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