The worldwide citric acid market is expected to develop at a CAGR of 4.5 percent (2022 – 2027).
Due to its multiple beneficial properties, citric acid is widely used as an additive in food and beverages, cleansers and detergents, personal care products, adhesives and sealants, inks, pharmaceutical goods, coatings, plastics and polymers, and clinical nutrition, feed, as well as pet food items.
Citric acid is widely found in packaged foods and beverages, where it is used to keep canned and jarred items fresh for longer periods.
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Players leading the global dry shampoo market include Unilever Plc (UK), L’Oreal SA (France), The Estee Lauder Companies Inc. (US), Procter & Gamble Company (US), MacAndrews & Forbes Incorporated (US), Shiseido Company Ltd. (Japan), Pierre Fabre (Paris), LVMH Group (France), Church & Dwight Co., Inc. (US), Coty Inc. (US), Henkel AG & Company KGaA (Germany), Kao Corporation (Japan), Lush Australia (Australia), Pierre Fabre Dermo-Cosmetique USA, Inc. (US), and Cult Beauty Ltd. (UK), among others.
The Market has been segmented into two major applications: medicine and food and beverages. In terms of volume, the food and beverages application dominated the global Citric Acid Market in 2016 with a share of more than 57.9% and is expected to grow at a CAGR of 5.0 percent in the duration of 2020 to 2025.
The market is classified into two types of liquids and powders based on their form. The fluid structure is employed in various food and dairy products due to its beneficial components, such as surface adjustment, acidifying specialists, and flavour improvement. Iron-controlling additives in the fluid structure are also used in the oil industry to reduce iron precipitation in oil via chelating and preserve the pH of acidifying liquids. Instead of lemon juice or vinegar, the power structure is used for culinary purposes. It is used as a chelating agent in evaporators and boilers to remove and prevent limescale formation.
The Citric Acid Market is split into North America, the Middle East, Europe, Asia Pacific, Central and South America, and Africa, depending on the region. North America and Europe together accounted for more than 40% of the global market share. At the same time, Asia Pacific is experiencing rapid growth, with a CAGR of 6.6 percent for the forecasted period. A large food and beverage sector in these areas is expected to boost the global Citric Acid Market.
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According to the geographical study, the Asia-Pacific Citric Acid Market is expected to be the largest and fastest-growing throughout the forecast period. The Citric Acid Market will be supported by the growth of various initiatives, such as food and beverages, individual consideration, pharmaceuticals, and nutraceuticals, plus interest in commonly added compounds in these companies. Beginning in 2020, China is likely to be the largest user and exporter of citrus extract, accounting for a significant percentage of the global citrus extract market. Loosened venture rules, low creation costs, and the availability of low-wage labor in China all contribute to the growth of end-use firms, which is expected to keep item interest alive during the forecasted time frame.
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