Citric Acid Market Size Analysis, Industry Outlook, & Region Forecast Till 2030
The global Citric Acid Market is extremely competitive and comprise several key players at regional and global levels. Major players are focusing on various key strategies such as mergers and acquisitions, partnerships, collaborations, joint ventures and research and development investments. Some of the key companies operating in the global Citric Acid market include: Cargill, Incorporated, Tate & Lyle, Pfizer, Inc., DuPont, Kenko Corporation, Foodchem International Corporation, BASF SE, Jungbunzlauer Suisse AG, COFCO. On the basis of type, the type 1 segment is expected account for significant revenue share over the forecast period owing to rapid urbanization, changing consumer preference towards healthier food choices, rapidly expanding population across the globe and growing inclination towards natural and sustainable food and food products.
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Increasing investments in research and development activities, rising disposable income and, increasing adoption of organic food and plant-based products are other factors fueling growth of global Citric Acid market. North America is expected to account for largest revenue share between 2021 and 2030 owing to factors such as increasing adoption veganism, rising preference for probiotic drinks and healthy drinks, high consumption of packaged food and bottled water.
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Based on applications, the application 2 segment is expected to register rapid revenue growth over the forecast period owing to rising demand for packaged food, and high preference for take away and home delivery options.
In addition, increasing funds for research and development activities and increasing focus on developing sustainable and eco-friendly products to fulfill consumer demand supporting market growth.
By Form Outlook:
By Function Outlook:
- Flavoring Agent
Regional Analysis covers:
- North America
- Rest of EU
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
Key questions addressed in the Report:
- Which key players are operating in the global Citric Acid market?
- Which key factors are expected to hamper global market revenue growth?
- What market size is the global Citric Acid market expected to reach throughout the forecast period?
- Which application segment revenue is expected to expand at a rapid CAGR between 2021 and 2028?
- Which region is expected to account for robust revenue share throughout the forecast period?
- Which regional segment is expected to register fastest revenue CAGR throughout the forecast period?
- What revenue CGAR is the global Citric Acid market expected to register during the forecast period?
- What are the key outcomes of Porter’s Five Force analysis of the Citric Acid market?
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