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Citric Acid Market Overview, Growth and Analysis Research Report 2014-2023

 



(Food-Beverage-News.Com, September 18, 2018 ) Industry Outlook and Trend Analysis
The Citric Acid Market was worth USD 2.56 billion in 2014 and is expected to reach approximately USD 4.12 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 5.42% during the forecast period. Rising demand for the product to preserve food is anticipated to be a key driver for the business development. Additionally, the developing interest for the compound in pharmaceutical industry for the assembling of stomach related solutions is foreseen to emphatically drive the market over the conjecture time frame. Citric acid gives sourness and tartness and augments the flavours. The acid, when used as an additive in food products, is viable in restraining the growth of microorganisms and, accordingly, broadens their time span of usability. The previously mentioned factors are foreseen to increase the product demand throughout the following years.

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Form Outlook and Trend Analysis
The product is basically accessible in fluid and powder frame in the market. On the basis of income, powder section ruled the market with an offer of 63.3% in 2016. The portion is evaluated to lose share in the business by 2025 by virtue of the expanding prominence of fluid frame for use in food & beverages and detergents ventures. Fluid frame is used in various food and dairy products because of its valuable properties, for example, texture modification, acidifying agents, and flavour enhancement.

Application Outlook and Trend Analysis
On the basis of application, the market has been sectioned into food & beverages and pharmaceutical. Based on volume, food & beverages application commanded the worldwide market with a share of more than 57.9% in 2016. The high share of the overall industry of food & beverage portion can be ascribed to the broad use in desserts and dietary supplements. It is used to control the pH level in medicines and form salt derivatives of minerals and metals in pharmaceuticals.

Regional Outlook and Trend Analysis
As per the World Health Organization (WHO), around 65 to 70 million individuals in North America encounter digestive system issues. This, thusly, has prompted an expansion in the interest for digestive citric acid-based food & beverages and pharmaceuticals in the area, subsequently affecting the business on a positive note. As per the German Nutrition Society (DGE), awareness among buyers in Europe relating to the usage of citric acid for maintaining digestive health expanded to 49% in 2016 when compared with 44% in 2015.

Competitive Insights
The leading players in the market are Cargill, Archer Daniels Midland, Pfizer, Kenko Corporation, Tate & Lyle and Danisco. Major mechanical shifts in manufacturing processes and the rising usage of cutting edge hardware are foreseen to emphatically influence the development of citrus extract creation over the estimate time frame. The usage of cutting edge apparatus has empowered makers to concoct inventive items, for example, exemplified citric acid.

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The Citric Acid Market is segmented as follows-

By Form:
Powder
Liquid

By Application:
Food & beverages
Pharmaceutical
Others

By Region
North America
The U.S.
Canada
Mexico
Europe
Germany
UK
France
Russia
Italy
Rest of Europe
Asia-Pacific
China
Japan
South Korea
India
Southeast Asia
Rest of Asia-Pacific
South America
Brazil
Argentina
Columbia
South Africa
Rest of South America
The Middle East and Africa
Saudi Arabia
UAE
Egypt
Nigeria
South Africa
Rest of MEA

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Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?


Qurate Business Intelligence

Nehal Chinoy

+919881074592

nehal@qurateresearch.com

Source: EmailWire.Com
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