Global Citric Acid Market Size | Forecasted to Hit US$ 5.65 Billion by 2030, Key Players Include Cargill and Merck KGaA

Citric Acid Market to Reach US$5.65 Billion by 2030 Driven by Growth in Food Industry, Says Maximize Market Research

The global citric acid market is poised for steady growth during the forecast period 2024-2030, according to a new report by Maximize Market Research. The market is expected to reach US$5.65 billion by 2030, fueled by the increasing demand in the food and beverage industry.

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Market Overview

Citric acid is a versatile organic acid with applications in various industries, including food and beverages, pharmaceuticals, and cosmetics. It is primarily used as an acidulant, preservative, and flavor enhancer in food and beverages. The rising demand for processed and convenience foods is expected to propel the market forward.

Market Scope

The report offers a comprehensive analysis of the global citric acid market, encompassing key trends, market size estimations, and growth forecasts. It provides insights into market dynamics across different regions and end-user industries.

Segmentation

The market is segmented based on form (anhydrous and liquid), application (food, pharmaceuticals, and cosmetics), and function (acidulant, antioxidant, preservative, and sequestrant). The food segment currently dominates the market and is expected to maintain its leading position throughout the forecast period.

Market Players

The report profiles key players in the global citric acid market, including Archer Daniels Midland Company, Cargill, Merck KGaA, Tate & Lyle, and COFCO Biochemical. It provides insights into their market share, recent developments, and growth strategies.

MMR Research Methodology Used

Maximize Market Research employs a robust research methodology that combines top-down and bottom-up approaches to estimate the market size of the global citric acid market. The report utilizes secondary research to identify key market participants and primary and secondary research to determine their market shares.

Objective of the Report

The report aims to provide readers with a clear understanding of the global citric acid market landscape. It offers valuable insights into market growth drivers, challenges, and opportunities. Additionally, it provides a competitive analysis of key players and their strategies.

COVID-19 Impact

The COVID-19 pandemic has had a mixed impact on the global citric acid market. While it initially disrupted supply chains and production, the increased demand for processed and packaged food has presented lucrative opportunities for market growth in the post-pandemic era.

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