Global Citric Acid Market Forecast, 2019 to 2024: The Market Exceeded 2 Million Tons in 2018 and is Projected to Reach Approx 3 Million Tons by 2024 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Feb 28, 2019--The “Citric Acid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024” report has been added to ResearchAndMarkets.com’s offering.
The global citric acid market exceeded the volume of 2 Million Tons in 2018. The market is further projected to reach a volume of nearly 3 Million Tons by 2024, growing at a CAGR of 4% during 2019-2024.
Due to its various advantageous properties, citric acid is widely used as an additive in food and beverages, personal care products, cleaners and detergents, adhesives and sealants, coatings, inks, plastics and polymers, pharmaceutical products and clinical nutrition, feed and pet food items.
The chemical makeup and potency of citric acid remains stable for at least five years in its original closed container. Owing to its long shelf-life, it finds application as a preservative, flavoring and coloring agent.
Growing awareness about the adverse effects caused by the chemicals used in daily use products has led the consumers to shift towards organic products so as to lower their chemical intake. This has created a positive outlook for the growth of the citric acid market.
Heightened demand for ready-to-drink beverages and processed foods has been witnessed in the developing countries on account of continuous economic growth, busy lifestyles, increasing urbanization and rising disposable incomes. As a result, the emerging regions are expected to be the future growth driver of the citric acid market.
Breakup by Application
Citric acid is majorly used in the food and beverage industry as an additive, flavor enhancer, preservative and antioxidant in a wide range of food products including soups, mayonnaise, candies, wines, juices, creams and carbonated drinks. Other major application segments of citric acid are household detergents and cleaners, and pharmaceuticals.
Breakup by Form
On the basis of form, the market has been bifurcated into anhydrous and liquid citric acid. Amongst these, anhydrous citric acid represents the leading segment as it is extensively used for manufacturing a variety of food products such as ice creams, jams, jellies, canned foods, etc.
Region-wise, Western Europe represents the world’s largest consumer of citric acid, wherein the major markets are Germany, France and the United Kingdom. However, demand for citric acid is mature and relatively saturated in the region, particularly in the carbonated beverage sector. Western Europe is followed by the United States, China, Middle East and Africa, Central/Eastern Europe, Brazil and India.
The global citric acid industry is concentrated in nature with a few major players controlling most of the market. As the initial capital cost to set up a citric acid plant is quite high, it is difficult for small players to enter this market. Some of the major players operative in the market are:
- Archer Daniels Midland Company
- Cargill, Incorporated
- Tate & Lyle PLC
- Jungbunzlauer Suisse AG
- Cofco Biochemical (Anhui) Co. Ltd.
- Huangshi Xinghua Biochemical Co. Ltd.
- RZBC Group Co. Ltd.
- Weifang Ensign Industry Co. Ltd.
- Gadot Biochemical Industries Ltd.
- Citrique Belge N.V.
Key Questions Answered
- How has the global citric acid market performed so far and how will it perform in the coming years?
- What are the key regional markets in the global citric acid industry?
- What are the various forms in the global citric acid industry?
- What are the major application segments in the global citric acid industry?
- What are the various stages in the value chain of the global citric acid industry?
- What are the key driving factors and challenges in the global citric acid industry?
- What is the structure of the global citric acid industry and who are the key players?
- What is the degree of competition in the global citric acid industry?
- What are the profit margins in the global citric acid industry?
- What are the key requirements for setting up a citric acid manufacturing plant?
- How is citric acid manufactured?
- What are the various unit operations involved in a citric acid manufacturing plant?
- What is the total size of land required for setting up a citric acid manufacturing plant?
- What are the machinery requirements for setting up a citric acid manufacturing plant?
- What are the raw material requirements for setting up a citric acid manufacturing plant?
- What are the packaging requirements for citric acid?
- What are the transportation requirements for citric acid?
- What are the utility requirements for setting up a citric acid manufacturing plant?
- What are the manpower requirements for setting up a citric acid manufacturing plant?
- What are the infrastructure costs for setting up a citric acid manufacturing plant?
- What are the capital costs for setting up a citric acid manufacturing plant?
- What are the operating costs for setting up a citric acid manufacturing plant?
- What will be the income and expenditures for a citric acid manufacturing plant?
- What is the time required to break-even?
2 Scope and Methodology
2.1 Objectives of the Study
2.3 Data Sources
2.4 Market Estimation
2.5 Forecasting Methodology
3 Executive Summary
4.2 Key Industry Trends
5 Global Citric Acid Industry
5.1 Market Overview
5.2 Market Performance
5.3 Markey Breakup by Region
5.4 Market Breakup by Application
5.5 Market Breakup by Form
5.6 Market Forecast
5.7 SWOT Analysis
5.8 Value Chain Analysis
5.9 Porter’s Five Forces Analysis
5.10 Price Analysis
5.11 Trade Data
5.12 Key Market Drivers and Success Factors
6 Performance of Key Regions
6.1 Western Europe
6.2 United States
6.4 Middle East and Africa
6.5 Central/Eastern Europe
7 Market by Application
7.1 Food and Beverages
7.2 Household Detergents and Cleaners
8 Market by Form
9 Competitive Landscape
9.1 Competitive Structure
9.2 Production Capacity of Key Manufacturers
10 Citric Acid Manufacturing Process
10.1 Product Overview
10.2 Manufacturing Process
10.3 Raw Material Requirements
10.4 Mass Balance and Feedstock Conversion Rates
11 Project Details, Requirements and Costs Involved
11.1 Land Requirements and Expenditures
11.2 Construction Requirements and Expenditures
11.3 Plant Machinery
11.4 Machinery Pictures
11.5 Raw Material Requirements and Expenditures
11.6 Raw Material and Final Product Pictures
11.7 Packaging Requirements and Expenditures
11.8 Transportation Requirements and Expenditures
11.9 Utility Requirements and Expenditures
11.10 Manpower Requirements and Expenditures
11.11 Other Capital Investments
12 Loans and Financial Assistance
13 Project Economics
13.1 Capital Cost of the Project
13.2 Techno-Economic Parameters
13.3 Product Pricing and Margins Across Various Levels of the Supply Chain
13.4 Taxation and Depreciation
13.5 Income Projections
13.6 Expenditure Projections
13.7 Financial Analysis
13.8 Profit Analysis
14 Key Player Profiles
14.1 Archer Daniels Midland Company
14.2 Cargill, Incorporated
14.3 Tate & Lyle PLC
14.4 Jungbunzlauer Suisse AG
14.5 Cofco Biochemical (Anhui) Co. Ltd.
14.6 Huangshi Xinghua Biochemical Co. Ltd.
14.7 RZBC Group Co. Ltd.
14.8 Weifang Ensign Industry Co. Ltd.
14.9 Gadot Biochemical Industries Ltd.
14.10 Citrique Belge N.V.
For more information about this report visit https://www.researchandmarkets.com/research/rgfjx5/global_citric?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20190228005530/en/
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics:Electronic Chemicals,Cosmetic Chemicals,Oilfield Chemicals
INDUSTRY KEYWORD: MANUFACTURING CHEMICALS/PLASTICS
SOURCE: Research and Markets
Copyright Business Wire 2019.
PUB: 02/28/2019 08:49 AM/DISC: 02/28/2019 08:49 AM