Citric Acid Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Market Overview

The global citric acid market is projected to grow with a CAGR of 4.2% during the forecast period (2020 - 2025)

• The broad applicability of citric acid as an acidulant, preservative, antioxidant, and buffering and binding agent in the food and non-food industries is expected to result in its increasing growth over the forecast period. Citric acid is used throughout the dairy industry, in particular, within cheese production and processing. The acid helps create the perfect environment for the stabilization of emulsions, and it prevents fats from separating. It can also be used to adjust the pH of both beer and wine solutions during manufacture.
• Europe is the largest market for citric acid globally attributable to growing number of vegan population which has drastically increased since 2016 in the United Kingdom, which further increase the demand for natural food additives and preservatives, like citric acid in the country.

The global citric acid market is segmented on the basis of form, into liquid and powder forms. On the basis of application, the global citric acid market can be segmented into food and beverages, pharmaceuticals, personal care, and others. The food and beverages segment can be further sub-segmented into, bakery, confectionery, dairy beverages, and others. By geography, the global citric acid market is segmented into, North America, South Africa, Europe, Asia Pacific, and the Middle East and Africa.

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Key Market Trends

Increasing Demands from RTD Beverages and RTE foods

The rising demands from RTD beverages and RTE foods is another major factor for the market studied. The global marketplace has also witnessed the emergence of innovative beverages with exotic and ethnic fruit flavors and flavor blends. The functional superiority of citric acid in shelf-life enhancement, pH buffering, and in providing flavor and tartness is higher than that of phosphoric, tartaric, and lactic acids to name a few. The robust demands for ready-to-drink (RTD) healthy beverages and soft drinks are facilitating the usage of citric acid. Citric acid is widely used to impart a pleasant, tart flavor to foods and beverages. It also acts as a pH adjuster in the manufacture of gelatin desserts, jellies, jams, etc. It acts as flavor enhancers for fruits, berries, and other ingredients used in the manufacture of foods and candies. Moreover, citric acid is used to add an acidic (sour) taste to foods and soft drinks, and as a firming compound in products, such as canned tomatoes. Citric acid is a dry alternative to lemon juice or vinegar in dry foods, such as seasoning salts, flavoring powders, and crunchy snacks.

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