PUNE, India, June 13, 2023 /PRNewswire/ -- Dataintelo, a leading market research firm, has recently published a comprehensive report on the Global Citric Acid Market, providing an in-depth analysis of the market by type, application, and region. The report covers the period from 2023 to 2031 and offers valuable insights into the current market scenario, trends, and future growth prospects.
The Global Citric Acid Market is segmented by type into Powder Citric Acid and Liquid Citric Acid, and by application into Food & Beverages, Pharmaceuticals & Personal Care, Detergents & Cleansers, and Others. The report also provides a detailed regional analysis, covering North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa.
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Key Highlights of the Global Citric Acid Market Report:
- The global citric acid market is expected to witness significant growth during the forecast period, driven by the increasing demand for citric acid in various industries, such as food & beverages, pharmaceuticals & personal care, and detergents & cleansers.
- The food & beverages segment is anticipated to hold the largest market share, owing to the widespread use of citric acid as a flavor enhancer, preservative, and acidity regulator in various food products, such as soft drinks, fruit juices, candies, and bakery products.
- The pharmaceuticals & personal care segment is also expected to witness substantial growth, as citric acid is widely used in the formulation of various pharmaceutical products, such as effervescent tablets, syrups, and ointments, as well as in personal care products, such as cosmetics, skincare, and hair care products.
- The Asia Pacific region is projected to be the fastest-growing market for citric acid during the forecast period, due to the rapid industrialization and urbanization in emerging economies, such as China and India, coupled with the growing demand for processed food and personal care products in the region.
- The report also highlights the competitive landscape of the global citric acid market, featuring key players, such as Archer Daniels Midland Company, Cargill Incorporated, Tate & Lyle PLC, and Jungbunzlauer Suisse AG, among others.
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