Chemical industry reports Citric Acid Market Size 2024 | Page 2

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Asia Pacific dominated the global industry accounting for 29.6% of the global citric acid market volume share
in 2016.
Rapid industrialisation resulting in the presence of large-scale manufacturing bases for food & beverages,
pharmaceuticals, and cosmetics is expected to augment the demand for the chemical as an intermediate in
several processes.
Increasing healthcare expenditure coupled with rising number of ailments across the world is expected to
augment the demand for pharmaceuticals. The demand for citric acid in pharmaceutical applications was
estimated to be 153.1 kilo tons in 2016 and is projected to progress in tandem with the development of the
pharmaceutical sector.
The difference in the properties of citric acid has resulted in making it suitable for use across a broad range of
applications. The dual use of citric acid as a preservative as well as a flavouring agent in foodstuffs is
expected to augment its demand for household purposes. Moreover, its suitability for a broad range of
cuisines makes its suitable for restaurants. Increasing standard of living of consumers is expected to augment
the demand for the product over the projected period.
In line with the growing demand for the chemical, manufacturers such as Jungbunzlauer, ADM, and Cargill are
focusing on increasing their market presence through R&D to introduce innovative products catering to niche
application segments. Thus, the growth of the food & beverages, pharmaceutical, and cosmetic industries
coupled with the eco-friendly properties of the product is expected to drive the growth of the citric acid
market over the forecast period.
Hexa Research has segmented the global citric acid market on the basis of application and regio n:
Segmentation by application, 2014 - 2024 (Kilo Tons) (USD Million)
• Food & beverages
• Household detergents & cleaners
• Pharmaceutical
• Cosmetics
• Others
Segmentation by region, 2014 - 2024 (Kilo Tons) (USD Million)
• North America
• U.S.
• Europe
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