The global citric acid market is projected to experience steady growth, with a compound annual growth rate (CAGR) of 3.70% through 2034. Valued at USD 172.7 million in 2024, the market is expected to surpass USD 248.6 million by 2034.
Key drivers of this growth include citric acid’s extensive applications across multiple industries such as food and beverage, pharmaceuticals, cosmetics, and household products. Several factors contribute to this projected growth. Citric acid suppliers are seeing increased demand from manufacturers across diverse sectors, including plant-based foods, pharmaceuticals, beauty products, and household items. Its broad utility in these industries establishes a strong and consistent demand for citric acid.
Citric acid’s versatility as an acidulant, flavor enhancer, and preservative makes it particularly crucial in the food and beverage sector, where it is a key ingredient in processed foods, beverages, and confectionery. The increasing consumer preference for natural and clean-label products further propels the demand for citric acid derived from natural sources, aligning with the trend towards healthier and more sustainable lifestyles.
Key Takeaways of Citric Acid Market:
- Market Growth: The global citric acid market is expected to grow at a CAGR of 3.70% from 2024 to 2034, reaching USD 248.6 million by 2034, up from USD 172.7 million in 2024.
- Primary Drivers: Demand for citric acid is driven by its wide application as an acidulant, flavor enhancer, and preservative, especially in the food and beverage industry. Growing consumer preference for natural and clean-label products further supports market expansion.
- Challenges: The industry faces challenges including volatility in raw material prices, regulatory and trade barriers, and competition from alternative acidulants and preservatives.
- Opportunities: Rising demand for natural and clean-label products provides opportunities for growth. Innovations in non-food applications (e.g., pharmaceuticals, personal care) and advancements in sustainability and eco-friendly production practices are also driving factors.
Key Companies in the Market
- 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
- Pfizer Inc.
Key Segmentation:
By Application:
- Acidulant
- Cleaning agent
- Binding Agent
- Preservative
- Others
By Form:
- Liquid Citric Acid
- Powder Citric Acid
- Anhydrous
- Monohydrous
By Product Type:
- Natural
- Artificial
By End Use:
- Citric Acid for Food & Beverages
- Bakery & Confectionary
- Dairy
- Convenience Food
- Beverages
- Jams & Preserves
- Others
- Citric Acid for Pharmaceuticals
- Citric Acid for Animal Feed
- Citric Acid for Personal Care
- Citric Acid for Metal Finishing & Cleaning
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
Report preview: https://www.futuremarketinsights.com/reports/citric-acid-market
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