According to the research report titled ‘Global Citric Acid Market Size study, by Forms (Anhydrous citric acid, Liquid citric acid) by Functions (Acidulate, Preservative, Antioxidant, Sequestrate) by Applications (Food (Beverages, Confectioneries, Convenience food product, Dairy products), Pharmaceuticals & personal care, Others)and Regional Forecasts 2021-2027’, available with Market Study Report, global citric acid market size was worth USD 2.55 billion in 2020 and is expected to multiply at a CAGR of 5.89% over 2021-2027, subsequently amassing USD 3.81 billion valuation by the end of the forecast period.
 

Shifting preferences of customers towards organic food & beverages serves as a major propeller for global citric acid market growth. Further, increasing use of citrus ingredients in chemical manufacturing is adding considerable momentum to the industry development, claims the study.
 

Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/3862687/
 

For the unaware, citrus fruits contain citric acid, which is a naturally occurring weak organic acid. It is commercially available through fermentation medium and appears as an odorless, white, and crystalline powder at room temperature.
 

The demand for the ingredients is predicted to surge in the upcoming years owing rising consumer inclination towards sophisticated household products due to increased urbanization and lifestyle change, particularly in developing regions. People are becoming more aware of citric acid-based medications, foods, and beverages, which is driving up the demand.
 

Elaborating further on the subject, a beneficial aspect of citric acid is that it aids digestion. As many individuals suffer from digestive disorders, there is a growing market for citric-acid-based meals and beverages.
 

Notably, several foreign market participants are constructing new offices and plants in order to extend their geographical presence, further enhancing the overall citric acid market outlook.
 

Considering the restraining factors, concerns regarding side effects associated with excessive intake of citric acid like diarrhea, vomiting, nausea, and abdominal pain is negatively impacting the industry.
 

Coming to the geographical landscape, Europe and North America currently hold over 40% of the industry share, meanwhile, Asia Pacific industry is slated record 6.6% CAGR through 2027. The growth in APAC can be ascribed to presence of large food & beverage industry coupled with surging demand for organic food additives in the region.
 

Key contenders in global citric acid market sphere are S.A. Citrique Belge N.V., Gadot Biochemical Industries Ltd., Weifang Ensign Industry Co. Ltd., RZBC Group Co. Ltd., Huangshi Xinghua Biochemical Co. Ltd., Cofco Biochemical Co. Ltd., Jungbunzlauer Suisse AG, Tate & Lyle plc, Cargill Incorporated, and Archer-Daniels-Midland Company.