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Citric Acid Market: APEJ Market Anticipated to Register Highest CAGR of 5.7% During 2016 - 2026: Global Industry Analysis and Opportunity Assessment, 2016-2026

Citric Acid Market: APEJ Market Anticipated to Register Highest CAGR of 5.7% During 2016 - 2026: Global Industry Analysis and Opportunity Assessment, 2016-2026

Citric acid is a cost effective ingredient with wide ranging applications in various industries such as food & beverages, animal feed, metal finishing and others, which is expected to drive the market growth over the forecast period. The global citric acid market is currently witnessing major trends like the increasing usage of citric acid as a cleaning agent due to ban on phosphate in various regions. Global sale of citric acid was valued at US$ 2,756.5 Mn in 2015, and is projected to be valued at US$ 4,494.8 Mn by 2026. Sales revenue is expected to register a CAGR of 4.6% during the forecast period (2016–2026). In terms volume, the market is expected to witness a CAGR of 3.7% during the forecast period.

Wide ranging use of citric acid in convenience food and beverages is fuelling the global citric acid market

Consumers are preferring products comprising of plant based natural ingredients due to various health issues. This is fuelling demand for citric acid worldwide. Moreover, increased usage of citric acid as a cleaning agent due to a ban on phosphate in various regions is further expected to drive the market demand in the near future. Citric acid is used as an ingredient in manufacture of convenience food and beverages as it provides acidity, acts as a preservative, provides antioxidants and enhances the flavour, which is further expected to drive the market demand in the near future.

However, excessive consumption of citric acid causes diarrhoea, stomach cramps, loss of appetite, vomiting and increased sweating. Citrus flavoured drinks include artificial sweeteners to enhance the flavour of drinks. Sweeteners are known to cause weight gain and are associated with obesity prevalence. Growing inclination of consumers towards low calorie beverages that do not contain artificial sweeteners is expected to restrain demand for citrus flavoured drinks, in turn, hampering growth of the market.

Market segmentation

By Application

By Form

By End Use

By Grade

By Region

Acidulant

Cleaning Agent

Binding Agent

Preservative

Others (Building Agent)

Liquid

Powder

Anhydrous

Monohydrous

Food and Beverages

Bakery & Confectionery

Dairy

Convenience Food

Beverages

Jams & Preserve

Others

Pharmaceutical

Animal Feed

Personal Care

Metal Finishing & Cleaning

Others (Printing & Industrial Applications)

Food Grade

Industrial Grade

Pharmaceutical Grade

North America

Latin America

Western Europe

Eastern Europe

APEJ

Japan

MEA

Acidulant application segment is projected to account for highest share in terms of volume expanding at a CAGR of 4.2% by 2026 end

Amongst all the application segments, acidulant segment is projected to account for highest share in terms of volume registering a CAGR of 4.2% by 2026 end. Cleaning agent segment is estimated to occupy the second largest share, accounting for 24.4% value share in 2015.

Powder form segment is expected to represent largest share both in terms of value and volume

On the basis of form, the global citric acid market has been segmented into powder and liquid. Powder segment is expected to represent largest share both in terms of value and volume. In terms of volume, the segment has been estimated to be 1,480,566.8 MT in 2016. Revenue contribution of the segment to the global citric acid market is expected to exhibit a CAGR of 4.7% from 2016 to 2026. Liquid form of citric acid is quite expensive as compared to powder form which may restrain the growth of liquid segment over the forecast period.

The food grade segment is estimated to represent highest value share of 67.0% in 2016 and is expected to remain dominant over the forecast period

On the basis of grade, the citric acid market has been segmented into food grade, pharmaceutical grade and industrial grade. Among all these segments, food grade segment is estimated to represent highest value share of 67.0% in 2016 and is expected to remain dominant over the forecast period. In terms of volume, this segment is expected to register a CAGR of 4.1% over the forecast period. Wide usage of citric acid in beverages and increasing application in convenience food is expected to support the segment growth during the forecast period. Industrial grade segment is expected to represent a substantial growth over the forecast period. The segment is projected to register a CAGR of 4.3% in terms of value growth by 2026 end.

Metal finishing and cleaning end use segment is forecasted to register a CAGR of 4.7% during the forecast period

The global citric acid market is further segmented on the basis of end-use which includes food & beverages, animal feed, pharmaceutical/personal care, metal finishing & cleaning and others. Among all of these segments, food & beverages segment is estimated to be dominant both in terms of value and volume in 2016. While metal finishing & cleaning is expected to represent favourable growth in terms of value, registering a CAGR of 4.7% over the forecast period.

APEJ region is estimated to dominate the overall market in terms of value in 2015 and register a CAGR of 5.7% over the forecast period

On the basis of regions, the global citric acid market is segmented into North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan, the Middle East & Africa and Japan. Among all these regions, APEJ region is estimated to dominate the overall market in terms of value in 2015. Market in the region is expected to register a CAGR of 5.7% over the forecast period.

global citric acid market_Image for preview analysis

Key market players operating in the global citric acid market

Some of the key players in the global citric acid market include Archer Daniels Midland Company, Shandong Juxian Hongde Citric Acid Co. Ltd., Jungbunzlauer Suisse AG, Basel, Delek Group, Cargill, Incorporated, Weifang Ensign Industry Co., Ltd., Tate & Lyle plc. COFCO Biochemical (AnHui) Co. Ltd., RZBC GROUP and Pfizer Inc.


1. Global Citric Acid Market Executive Summary
2. Assumptions & Acronyms Used
3. Research Methodology
4. Global Citric Acid Market Analysis
4.1. Market Value & Volume Forecast
4.1.1. Market Value Forecast
4.1.2. Market Volume Forecast
4.1.3. Absolute $ Opportunity
4.2. Global Trends
5. Market Dynamics
5.1. Drivers
5.2. Restraints
5.3. Opportunity
6. Global Citric Acid Market By Form
6.1. Global Citric Acid Market: Snapshot By Form
6.2. Basis Point Share (BPS) Analysis By Form
6.3. Market Value & Volume Forecast By Form
6.3.1. Powder
6.3.1.1. Absolute $ Opportunity
6.3.1.2. Total Market Opportunity By Sub-segments
6.3.1.2.1. Anhydrous
6.3.1.2.2. Monohydrous
6.3.2. Liquid
6.3.2.1. Absolute $ Opportunity
6.4. Market Attractiveness By Form
7. Global Citric Acid Market By End-use
7.1. Global Citric Acid Market: Snapshot By End-use
7.2. Basis Point Share (BPS) Analysis By End-use
7.3. Market Value & Volume Forecast By End-use
7.3.1. Food & Beverages
7.3.1.1. Absolute $ Opportunity
7.3.1.2. Total Market Opportunity By Sub-segments
7.3.1.2.1. Bakery & Confectionery
7.3.1.2.2. Dairy
7.3.1.2.3. Convenience Food
7.3.1.2.4. Beverages
7.3.1.2.5. Jams & Preserve
7.3.1.2.6. Others
7.3.2. Pharmaceutical/Personal Care
7.3.2.1. Absolute $ Opportunity
7.3.3. Animal Feed
7.3.3.1. Absolute $ Opportunity
7.3.4. Metal Finishing & Cleaning
7.3.4.1. Absolute $ Opportunity
7.3.5. Others
7.3.5.1. Absolute $ Opportunity
7.4. Market Attractiveness By End-use
8. Global Citric Acid Market By Grade
8.1. Global Citric Acid Market: Snapshot By Grade
8.2. Basis Point Share (BPS) Analysis By Grade
8.3. Market Value & Volume Forecast By Grade
8.3.1. Food grade
8.3.1.1. Absolute $ Opportunity
8.3.2. Industrial Grade
8.3.2.1. Absolute $ Opportunity
8.3.3. Pharmaceutical Grade
8.3.3.1. Absolute $ Opportunity
8.4. Market Attractiveness By Grade
9. Global Citric Acid Market By Application
9.1. Global Citric Acid Market: Snapshot By Application
9.2. Basis Point Share (BPS) Analysis By Application
9.3. Market Value & Volume Forecast By Application
9.3.1. Acidulant
9.3.1.1. Absolute $ Opportunity
9.3.2. Cleaning Agent
9.3.2.1. Absolute $ Opportunity
9.3.3. Binding agent
9.3.3.1. Absolute $ Opportunity
9.3.4. Preservative
9.3.4.1. Absolute $ Opportunity
9.3.5. Others
9.3.5.1. Absolute $ Opportunity
9.4. Market Attractiveness By Application
10. Global Citric Acid Market By Region
10.1. Global Citric Acid Market: Snapshot By Region
10.2. Basis Point Share (BPS) Analysis By Region
10.3. Market Value & Volume Forecast By Region
10.3.1. North America
10.3.2. Latin America
10.3.3. Western Europe
10.3.4. Eastern Europe
10.3.5. Asia pacific Excluding Japan (APEJ)
10.3.6. Middle East & Africa (MEA)
10.3.7. Japan
10.4. Market Attractiveness By Region
11. North America Citric Acid Market Analysis
11.1. Overview
11.1.1. Market Value & Volume Forecast
11.1.2. Absolute $ Opportunity
11.1.3. BPS Analysis By Country
11.1.4. Y-o-Y Growth projections By Country
11.2. Key Market trends
11.3. Market Value & Volume Forecast By Country
11.3.1. U.S. Absolute $ Opportunity
11.3.2. Canada Absolute $ Opportunity
11.4. Market Value & Volume Forecast By Form
11.4.1. Powder
11.4.1.1. Absolute $ Opportunity
11.4.1.2. Total Market Opportunity By Sub-segments
11.4.1.2.1. Anhydrous
11.4.1.2.2. Monohydrous
11.4.2. Liquid
11.4.2.1. Absolute $ Opportunity
11.5. Market Value & Volume Forecast By End-use
11.5.1. Food & Beverages
11.5.1.1. Absolute $ Opportunity
11.5.1.2. Total Market Opportunity By Sub-segments
11.5.1.2.1. Bakery & Confectionery
11.5.1.2.2. Dairy
11.5.1.2.3. Convenience Food
11.5.1.2.4. Beverages
11.5.1.2.5. Jams & Preserve
11.5.1.2.6. Others
11.5.2. Pharmaceutical/Personal Care
11.5.2.1. Absolute $ Opportunity
11.5.3. Animal Feed
11.5.3.1. Absolute $ Opportunity
11.5.4. Metal Finishing & Cleaning
11.5.4.1. Absolute $ Opportunity
11.5.5. Others
11.5.5.1. Absolute $ Opportunity
11.6. Market Attractiveness By End-use
11.7. Market Value & Volume Forecast By Grade
11.7.1. Food grade
11.7.1.1. Absolute $ Opportunity
11.7.2. Industrial Grade
11.7.2.1. Absolute $ Opportunity
11.7.3. Pharmaceutical Grade
11.7.3.1. Absolute $ Opportunity
11.8. Market Attractiveness By Grade
11.9. Market Value & Volume Forecast By Application
11.9.1. Acidulant
11.9.1.1. Absolute $ Opportunity
11.9.2. Cleaning Agent
11.9.2.1. Absolute $ Opportunity
11.9.3. Binding agent
11.9.3.1. Absolute $ Opportunity
11.9.4. Preservative
11.9.4.1. Absolute $ Opportunity
11.9.5. Others
11.9.5.1. Absolute $ Opportunity
11.10. Market Attractiveness Analysis
11.10.1. By Form
11.10.2. By End-use
11.10.3. By Grade
11.10.4. By Application
11.11. Drivers & Restraints: Impact Analysis
12. Latin America Citric Acid Market Analysis
12.1. Overview
12.1.1. Market Value & Volume Forecast
12.1.2. Absolute $ Opportunity
12.1.3. BPS Analysis By Country
12.1.4. Y-o-Y Growth projections By Country
12.2. Key Market trends
12.3. Market Value & Volume Forecast By Country
12.3.1. Brazil Absolute $ Opportunity
12.3.2. Mexico Absolute $ Opportunity
12.3.3. Rest of Latin America Absolute $ Opportunity
12.4. Market Value & Volume Forecast By Form
12.4.1. Powder
12.4.1.1. Absolute $ Opportunity
12.4.1.2. Total Market Opportunity By Sub-segments
12.4.1.2.1. Anhydrous
12.4.1.2.2. Monohydrous
12.4.2. Liquid
12.4.2.1. Absolute $ Opportunity
12.5. Market Value & Volume Forecast By End-use
12.5.1. Food & Beverages
12.5.1.1. Absolute $ Opportunity
12.5.1.2. Total Market Opportunity By Sub-segments
12.5.1.2.1. Bakery & Confectionery
12.5.1.2.2. Dairy
12.5.1.2.3. Convenience Food
12.5.1.2.4. Beverages
12.5.1.2.5. Jams & Preserve
12.5.1.2.6. Others
12.5.2. Pharmaceutical/Personal Care
12.5.2.1. Absolute $ Opportunity
12.5.3. Animal Feed
12.5.3.1. Absolute $ Opportunity
12.5.4. Metal Finishing & Cleaning
12.5.4.1. Absolute $ Opportunity
12.5.5. Others
12.5.5.1. Absolute $ Opportunity
12.6. Market Attractiveness By End-use
12.7. Market Value & Volume Forecast By Grade
12.7.1. Food grade
12.7.1.1. Absolute $ Opportunity
12.7.2. Industrial Grade
12.7.2.1. Absolute $ Opportunity
12.7.3. Pharmaceutical Grade
12.7.3.1. Absolute $ Opportunity
12.8. Market Attractiveness By Grade
12.9. Market Value & Volume Forecast By Application
12.9.1. Acidulant
12.9.1.1. Absolute $ Opportunity
12.9.2. Cleaning Agent
12.9.2.1. Absolute $ Opportunity
12.9.3. Binding agent
12.9.3.1. Absolute $ Opportunity
12.9.4. Preservative
12.9.4.1. Absolute $ Opportunity
12.9.5. Others
12.9.5.1. Absolute $ Opportunity
12.10. Market Attractiveness Analysis
12.10.1. By Form
12.10.2. By End-use
12.10.3. By Grade
12.10.4. By Application
12.11. Drivers & Restraints: Impact Analysis
13. Western Europe Citric Acid Market Analysis
13.1. Overview
13.1.1. Market Value & Volume Forecast
13.1.2. Absolute $ Opportunity
13.1.3. BPS Analysis By Country
13.1.4. Y-o-Y Growth projections By Country
13.2. Key Market trends
13.3. Market Value & Volume Forecast By Country
13.3.1. EU5 Absolute $ Opportunity
13.3.2. Nordic Absolute $ Opportunity
13.3.3. Benelux Absolute $ Opportunity
13.3.4. Rest of Western Europe Absolute $ Opportunity
13.4. Market Value & Volume Forecast By Form
13.4.1. Powder
13.4.1.1. Absolute $ Opportunity
13.4.1.2. Total Market Opportunity By Sub-segments
13.4.1.2.1. Anhydrous
13.4.1.2.2. Monohydrous
13.4.2. Liquid
13.4.2.1. Absolute $ Opportunity
13.5. Market Value & Volume Forecast By End-use
13.5.1. Food & Beverages
13.5.1.1. Absolute $ Opportunity
13.5.1.2. Total Market Opportunity By Sub-segments
13.5.1.2.1. Bakery & Confectionery
13.5.1.2.2. Dairy
13.5.1.2.3. Convenience Food
13.5.1.2.4. Beverages
13.5.1.2.5. Jams & Preserve
13.5.1.2.6. Others
13.5.2. Pharmaceutical/Personal Care
13.5.2.1. Absolute $ Opportunity
13.5.3. Animal Feed
13.5.3.1. Absolute $ Opportunity
13.5.4. Metal Finishing & Cleaning
13.5.4.1. Absolute $ Opportunity
13.5.5. Others
13.5.5.1. Absolute $ Opportunity
13.6. Market Attractiveness By End-use
13.7. Market Value & Volume Forecast By Grade
13.7.1. Food grade
13.7.1.1. Absolute $ Opportunity
13.7.2. Industrial Grade
13.7.2.1. Absolute $ Opportunity
13.7.3. Pharmaceutical Grade
13.7.3.1. Absolute $ Opportunity
13.8. Market Attractiveness By Grade
13.9. Market Value & Volume Forecast By Application
13.9.1. Acidulant
13.9.1.1. Absolute $ Opportunity
13.9.2. Cleaning Agent
13.9.2.1. Absolute $ Opportunity
13.9.3. Binding agent
13.9.3.1. Absolute $ Opportunity
13.9.4. Preservative
13.9.4.1. Absolute $ Opportunity
13.9.5. Others
13.9.5.1. Absolute $ Opportunity
13.10. Market Attractiveness Analysis
13.10.1. By Form
13.10.2. By End-use
13.10.3. By Grade
13.10.4. By Application
13.11. Drivers & Restraints: Impact Analysis
14. Eastern Europe Citric Acid Market Analysis
14.1. Overview
14.1.1. Market Value & Volume Forecast
14.1.2. Absolute $ Opportunity
14.1.3. BPS Analysis By Country
14.1.4. Y-o-Y Growth projections By Country
14.2. Key Market trends
14.3. Market Value & Volume Forecast By Country
14.3.1. Russia Absolute $ Opportunity
14.3.2. Poland Absolute $ Opportunity
14.3.3. Rest of Eastern Europe Absolute $ Opportunity
14.4. Market Value & Volume Forecast By Form
14.4.1. Powder
14.4.1.1. Absolute $ Opportunity
14.4.1.2. Total Market Opportunity By Sub-segments
14.4.1.2.1. Anhydrous
14.4.1.2.2. Monohydrous

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