“Citric acid is the most important organic acid produced in tonnage by fermentation. It has been described as ‘nature’s acidulant’, occurring in a wide variety of fruits and playing a central role in human and animal metabolism. More than 70% of the global citric acid is used in food and fermentation production. It also finds its application in other industries such as pharmaceutical, cosmetics and toiletries as a buffer. The citric acid market has been segmented by grade, form, end-use industry, application and geography exclusively. Based on the application that citric acid serve, the market is segmented in to various categories such as acidulant, stabilizer, cleaning agent and others. The key end-user segments include food & beverage, pharmaceutical, soap & detergent, printing and more.
The main factor owing to the growth of this industry is the growing end-use segments such as pharmaceutical and food & beverage, which is forecast to double over the next five years. Moreover, application of citric acid in various other products such as skincare and cosmetic is also considered to be a growth factor for this market. The major application is to enhance the flavor and provide consistency in acidity. Moreover, it also enhances the quality of beverages or soft drinks. It is a vital component used in the effervescent systems. These systems have broad applications in denture cleaning products and pain relief as well as vitamin tablets.
Increasing Consumer Preference for Convenience Food & Beverage Products Is A Major Driving Factor For Citric Acid Market
Citric acid has a broad spectrum of application owing to its various end use segments. Tate & Lyle, Archer Daniels Midland Company (ADM), Cargill Corporation and Hoffmann-La Roche AG are some of the major suppliers of citric acid globally. Citric acid plays a vital role in the stability of frozen food. The increased demand for canned and frozen food sector has elevated the demand for citric acid globally.
The overall market is also presented from the perspective of different geographic regions and the key countries in each region. The market has been segmented in to four regions which include Americas, Europe, Asia-pacific (APAC) and Rest of the World. Competitive landscape for industry and market players are profiled with attributes of company overview, financial overview, business strategies, product portfolio and recent developments.
The key players profiled in this report include
• Tate & Lyle
• Archer Daniels Midland Company (ADM)
• Jungbunzlauer AG
• Cargill Corporation
• Hoffmann-La Roche AG
Along with the above 20 more major companies were listed and profile in the report. Citric acid producing Chinese companies accounts for 20% of the total market share in 2014.
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