Global Citric Acid Market - Growth, Trends, and Forecast (2018-2023)
|発行||Mordor Intelligence LLP||商品コード||572797|
|出版日||ページ情報||英文 110 Pages
|クエン酸の世界市場：成長、動向、予測 Global Citric Acid Market - Growth, Trends, and Forecast (2018-2023)|
|出版日: 2018年05月05日||ページ情報: 英文 110 Pages||
The global citric acid market is projected to reach USD 3.2 billion by 2023 and is expected to witness a CAGR of 5.1% during the forecast period.
Citric acid is a cost-effective ingredient with wide-ranging applications. The driving factor behind the growth of the global citric acid market is the expanding application in various industries like food & beverage, cleaning and chelating agent, pharmaceuticals, and others. Among these applications, food & beverage is expected to account the largest share, followed by cosmetics and personal care. The rising consumption of food & beverage and personal care products has boosted the regional as well as global market.
Disproportionate citric acid consumption can cause a variety of side-effects such as vomiting, diarrhea, nausea, and abdominal pain. These issues are limiting consumer demand for citric acid, which is hampering the growth of the market.
The global citric acid market is currently witnessing high opportunity because of increased usage of citric acid as a cleaning agent due to the ban on phosphate in various regions.
The citric acid market is segmented by key forms, functions, applications, and geography. Among all the application segments, the acidulant segment is expected to account for the highest share.
Geographically, Europe accounts for the largest market share of the worldwide Citric acid production, followed by North America and Asia-Pacific.
The prominent citric acid market players have adopted new product development as their key strategy to attend different consumer requirements from food and non-food sectors, in matured and untapped markets as well. They also focus on procuring local players of the industry and base for expansion. This has not only supported them to expand their geographical reach but has also strengthened their market position by gaining a larger share in the revenue and product portfolio.
April 2015 - Cargill Incorporated raised investment to expand the production capacity of its citric acid plant in Uberlandia, Minas Gerais plant.
April 2012 - Tate & Lyle PLC agreed to sell 50% stake in Sucromiles, its Colombian citric acid joint venture, to its long-standing business partner, Organizacion Ardila Lulle.
Major players - ARCHER DANIELS MIDLAND COMPANY, COFCO BIOCHEMICAL (ANHUI) CO. LTD., CARGILL, DELEK GROUP, GADOT BIOCHEMICAL INDUSTRIES LTD., HUANGSHI XINGHUA BIOCHEMICAL CO. LTD., JUNGBUNZLAUER SUISSE AG, PFIZER INC., S.A. CITRIQUE BELGE N.V., SHANDONG JUXIAN HONGDE CITRIC ACID CO., LTD., SUISSE AG, BASEL, TATE & LYLE PLC, among others.
Reasons to Purchase this Report
Analyzing outlook of the market with the recent trends and Porters five forces analysis
Market dynamics, which essentially consider the factors, which are impelling the present market scenario, along with growth opportunities of the market in the years to come
Market segmentation analysis, including qualitative & quantitative research incorporating the impact of economic & non-economic aspects
Regional and Country level analysis integrating the demand and supply forces that are influencing the growth of the market
Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in excel)
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