Citric Acid Market Will Grow Owing To Increased Demand From End-Use Industries From 2014 To 2020: Grand View Research, Inc.
According to new report published by Grand View Research, the global citric acid market is expected to witness significant growth in the food&beverage industry owing to increasing demand for processed and ready-to-eat foods.
Citric acid was widely used in the food&beverage industry as an acidulant. The market is expected to witness significant growth in the food&beverage industry owing to increasing demand for processed and ready-to-eat foods. In addition, citric acid properties such as high solubility, non-toxicity, pleasant taste, and chelating and buffering characteristics are responsible for its growing consumption in a wide range of applications. Surging demand for citric acid in pharmaceuticals, detergents, cosmetics&toiletries and food&beverages is expected to boost the market growth over the forecast period. Moreover, the demand is expected to increase in household detergents and cleaners, which is expected to augment market growth. Asia Pacific is expected to propel market growth on account of growing food&beverages industry mainly in China and India. Growing concern for food safety, approval of ready-to-drink and processed foods is driving demand growth in food&beverage industry over the forecast period.
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Increasing demand for citric acid in personal care industry mainly in shampoos&conditioners is expected to augment market growth over the next six years. Market demand is further expected to propel owing to its wide use in water systems as citric acid provides less harmful formulations. FDA and EU have levied regulations on citric acid for use in food&beverages industry.
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Key market players include ADM, DSM, Jungbunzlauer, Gadot Boichemical Industries, Anhui BBCA Biochemical Co. and Cargill. With advancement in properties of citric acid, Cargill produces products which provides acidity, enhances flavors and acts as preservative and antioxidant. Jungbunzlauer products provide naturalness, variety and health in combination with consistency and taste in beverages.
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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