Citric Acid Anhydrous Market Forecast and CAGR
Citric acid anhydrous demand is predicted to rise throughout the forecast period, owing to the growing global demand for healthy food additives. The demand for citric acid anhydrous dominates in the food and beverages industry more than three quarters with North American market driving the business from front seat accounting more than 23% global share. It is also used in cosmetics industry and have various applications for the production of different end products. Pharmaceutical industry demand for citric acid anhydrous is predicted to expand at a robust CAGR over the assessment period.
Despite the fact that it is harmless additive, it still may cause minor adverse effects such as stomach cramps and various skin diseases. However due to its wide range of application in the various industries, results in rise in the demand.
The widespread use of the product in cosmetics, food and beverages, pharmaceuticals, and other products will provide significant potential prospects. This comprehensive report is intended to provide readers with a complete understanding of dynamics in the market. The report also provides several decision support framework that can help stakeholders in the industry to take a data-driven decision on growth, expansion, acquisition and capacity addition.
What is Driving Demand for Citric Acid Anhydrous Market?
Citric acid anhydrous is a white powder that is colourless and odourless and is derived from citrus fruits. Citric acid anhydrous is mostly used in food and beverage as a flavouring agent and food preservative. The rise of the food and beverages industry has a direct impact on the worldwide citric acid anhydrous market. Consumer interest in food and beverage goods has provided a profitable potential.
Furthermore, it is widely used for the production of hair care products, skincare and toiletries products. Anhydrous citric acid also behaves as a buffering and neutralizing agent due to which there is a high demand for skincare and cosmetics products. It is primarily used in the pharmaceutical industry because of its antioxidant property and used as a preservative in the formulation of the medicine.
Due to its widespread application in various industries, sales are expected to rise at faster rate.
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Food and Beverage industry is key factors influencing the market growth
Anhydrous citric acid has widespread application in various industries which help to drive the market. The food and beverage industry is the key factor for influencing the demand, as product plays a significant part in the processing.
It is important for boosting flavours, especially in the beverages, because it has a tangy, refreshing flavour that balances out the sweetness of many drinks. Citric acid is also widely used in the dairy sector, particularly in the manufacturing and processing of cheese. The acids aids in the formation of ideal environment for the emulsion stabilization. During the production of beers and wine, it is used as pH regulator. It can also be used to prevent oxidation and browning of fresh fruits and vegetables.
Hence, anhydrous citric acid has a wide range of application in the food and beverage industry which are the key factors included in providing a great potential for the market.
Asia Pacific Market Outlook
Anhydrous citric acid have a dominant share in the Asia Pacific region due to the increase in consumption of food and beverages. This is primarily due to the presence of some of the highly potential players in the industry. Over the forecast period, the industry is expected to grow at a significant pace.
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North America Market Outlook
The COVID-19 crisis has had a major effect on many North American countries, leading to a decline in economic activity. Healthcare spending in the North America tends to fuel demand for the product as it is used in the formulation of various medicines and other purposes in pharmaceutical industry.
The use of the product for chemical and pharmaceutical industry is increasing in North America owing to the availability of resources, increase in foreign investors, the manufacturing industries, and so on. This accounts for significant growth for the industry.
Who are the Key Players Present in Market?
Some of the key players operating in the global anhydrous market are:
- Shanghai Billion Chemical Chemical Co. Ltd.
- American Tartaric Products
- Gadot Biochemical Industries
- Alfa Aesar
- Gojira Fine Chemicals
- TTCA Co.
- Univar Chemicals (Shanghai) Co. Ltd.
- Foodchem International Corporation
- Jungbunzlauer Suisse AG
- HuangshiXinghua Biochemical
- Weifang Ensign Industry Co. Ltd.
- LaiwuTaihe Biochemistry Co. Ltd.
- Jiangsu GuoxinXielian Energy Co.
- Archer Daniels Midland
- Thai Anhydrous Citric Acid
- RZBC Group
- RizhaoRuisite International Trade Co. Ltd.
- COFCO Bio-chemical
- Barker Industries
- Cater Chemicals Corp.
- Cargill Ltd.
- RizhaoJinsui Trade Co. Ltd.
- Gansu Jinbao Industry Co. Ltd.
- Wintersun Chemical
- Penta Manufacturing Company
- Bruchem Inc. Ltd
- FoodChem Corporation
An Adaptive Approach to Modern-day Research Needs
Citric Acid Anhydrous Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
On the basis of grade, the market can be segmented into
- Food grade
- Pharmaceutical grade
- Industrial grade
- Feed grade
On the basis of form, the market can be segmented into
On the basis of application, the market can be segmented into
- Food and Beverage industry
- Cosmetic industry
- Chemical industry
- Pharmaceutical Industry
On the basis of packaging type, the market can be segmented into
- Bottle Packaging
- Bulk Packaging
- Tetra Packaging
On the basis of region, the market is segmented as
- North America
- US & Canada
- Latin America
- Rest of Latin America
- Rest of Europe
- East Asia
- South Korea
- South Asia
- Rest of South Asia
- Australia and New Zealand
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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