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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Competitive Landscape
Major citric acid market players are increasingly adopting the latest technologies to enhance production capabilities
Archer Daniels Midland Company
Archer Daniels Midland Company (ADM) is a multinational food processing and commodities trading corporation. Founded in 1902, ADM is headquartered in Chicago, Illinois, USA. The company operates more than 270 plants and 420 crop procurement facilities worldwide, where cereal grains and oilseeds are processed into products used in the food, beverage, nutraceutical, industrial, and animal feed markets globally.
Cargill, Incorporated
Cargill is one of the largest privately-held corporations in the United States in terms of revenue. It was founded in 1865 and is headquartered in Minnetonka, Minnesota, USA. Cargill provides food, agriculture, financial, and industrial products and services throughout the world. With a vast network of operations that span several continents, Cargill is involved in various activities, including trading, purchasing, and distributing grain and other agricultural commodities.
Tate & Lyle PLC
Tate & Lyle PLC is a British-based global provider of ingredients and solutions to the food, beverage, and other industries. Founded in 1859, the company specialises in the production of sweeteners, starches, and other nutrition and biomaterial solutions. Tate & Lyle is headquartered in London, United Kingdom, and operates across a network of manufacturing plants around the world, focusing on innovation and sustainability in its products and processes.
Jungbunzlauer Suisse AG
Jungbunzlauer Suisse AG is a leading producer of biodegradable ingredients of natural origin. The company was founded in 1867 and is headquartered in Basel, Switzerland. Jungbunzlauer specialises in citric acid, xanthan gum, gluconates, lactates, and other speciality products, which are used in a wide range of industries, including food and beverage, personal care, pharmaceuticals, and more.
Other key players in the global citric acid market are COFCO, among others.
Many companies in the citric acid market are increasing their production capacities to meet the rising demand for citric acid in various industries such as food and beverages, pharmaceuticals, and personal care. By upgrading existing plants or building new facilities, these companies can ensure a steady supply of citric acid to their global clientele.
Moreover, players in the market are adopting advanced fermentation technologies that enhance yield and reduce waste. Additionally, some are exploring the use of genetically modified organisms (GMOs) to increase fermentation efficiency, although this approach is subject to regulatory approvals and public acceptance.
Citric Acid Market Report Snapshots
Citric Acid Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2022, the market reached an approximate volume of 2.70 million tons.
The market is estimated to grow at a CAGR of 4.1% between 2024 and 2032.
The market is estimated to witness healthy growth during 2024-2032 to reach around 3.86 million tons by 2032.
The major drivers of the market include growing demand for citric acid from the food and beverage sector, improving living standards, and growing consumer demand for cosmetics.
The increasing demand for low-calorie RTD beverages and rapid urbanisation are key trends guiding the growth of the market.
The major regional markets are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Anhydrous and liquid are the major forms of citric acid in the market.
The different applications of citric acid are food and beverages, household detergents and cleaners, and pharmaceuticals, among others.
The major players in the market are Archer Daniels Midland Company, Cargill, Incorporated, Tate & Lyle, Jungbunzlauer Suisse AG, and COFCO, among others.
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