In 2022, the global citrate market was estimated to have acquired USD 851.94 million. Changing consumer preferences towards citric acid usages is likely to aid the sales to USD 1422.97 million by 2033, garnering a CAGR of 4.7% during the forecast period, 2023 to 2033.
The versatility of citrate and its products enables it to be a key compound used in several industrial applications. Citrate derived from citric acid is used in the food industry, personal care, household, pharmaceuticals, and other sectors. Citrate includes a whole range of citric acid salts such as zinc citrate, magnesium citrate, calcium citrate, potassium citrate and others. Citrate is mostly used in food as a preservative or taste enhancer. It is used as a flavoring agent in processed products like cheese, soda, ice cream and in ready-to-drink beverages and others.
Citrate also is used to maintain pH level and act as a buffering agent in many pharmaceuticals, household cleaners, and food & beverage applications. Along with this, it is used as a chelating agent and an emulsifier in personal care products.
Report Attribute | Details |
---|---|
Estimated Market Value (2022) | USD 851.94 million |
Expected Market Value (2023) | USD 891.99 million |
Projected Forecast Value (2033) | USD 1,422.97 million |
Anticipated Growth Rate (2023 to 2033) | 4.7% CAGR |
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Consumers are preferring a healthy diet and natural food to reduce the risk of diseases and stay fit. Buyers were looking for food with fewer additives and preservatives. An increase in health awareness has brought a huge change in the preferences of consumers.
Citrate is widely used as a food additive as it is a natural preservative. It is a citrus ingredient, present naturally in most citrus fruits. Due to rising awareness about the unsafe and ill effects of non-natural and synthetic food additives and cosmetic products, buyers are shifting towards food that contains citrate as additives.
For instance, regulatory bodies such as the Food & Drug Administration (FDA) in North America and the European Food Safety Authority (EFSA) in Europe are becoming more stringent regarding ingredients used in food and pharmaceutical products and their proper labeling. According to FMI’s analysis, citrates sales have grown at 3.1% CAGR between 2018 and 2022.
Consumer preference for processed food products is increasing. The major concern for manufacturers in the food industry, remains to sustain the product quality and enhance the nutritional value. The rising application of citrate in the food sector is attributable to the increasing demand for processed food due to changing dietary patterns of buyers.
Growing self-care trend, premiumization and E-commerce penetration are creating lucrative scope for expansion. FMI has projected the global citrates market to grow at 4.7% CAGR through 2033.
Health Benefits of Using Citric Acid in Food is likely to Increase Demand
The food-grade sodium citrate works as a stabilizing agent, buffering agent, flavoring agent, chelating agent, and emulsifying agent in the food and beverage industry,
Food grade sodium citrate is used for enhancing flavors in beverages. Recently, manufacturers are using it to make various lemon, or citrus soft drinks to add and improve the zesty, and tangy flavor.
Food grade sodium citrate also adds a cool saline taste in beverages; in addition to this, food-grade sodium citrate provides uniformity flavor and acidity of fruit juices or cordials.
Increasing Consumption of Alcoholic Beverages is Driving Growth
Alcoholic beverages are consumed across the globe on a large scale and their demand is not falling any time soon. Instead of falling, the demand for alcoholic beverages is rising in countries. This is expected to increase the demand for yeast products that are being used in the fermentation of these alcoholic beverages.
There many other technologies and innovations that are being carried out in the alcoholic beverages market that is merging the gap between alcoholic and non-alcoholic beverages. This is expected to further increase the demand for citrates in the alcoholic beverages market.
Potassium Citrate to become a Lucrative option in the Market
Potassium citrate holds the maximum share in the market in terms of product and it accounted for an overall share of 42.5% in 2022 and expected to grow at a CAGR of 4.0%. It is an odorless crystalline powder with saline taste. Potassium citrate is used to treat kidney stones.
The Powder Form is Likely to Gain Traction from 2023 to 2033
Powder form of citrates held the maximum share of 92.5% in 2022 and are expected to witness a growth of 4.2% CAGR in the forecasted years. Most of the manufacturers are producing powder form. Further powder form of citrate is used in making supplements. For example, Archer Daniels Midland Company offers sodium citrate in dehydrating and anhydrous form, which is available in powder/granular form and is mainly produced for food and beverage applications.
Citrates are Gaining Traction for being Great Antioxidants and Preservatives
Citrate is used as an ingredient in manufacturing convenience food & beverages. It acts as a preservative & antioxidants and enhances flavor. The low sodium incorporation in food and beverages by using potassium citrate as an additive is gaining traction, as consumers are concerned about the labels.
The low sodium content in food products acts as an opportunity for food and beverage manufacturers who can increase sales by marketing this aspect to the consumers.
The United States Market is likely to Account for a Significant Market Share
FMI has projected the United States to remain one of the most lucrative markets throughout the forecast period with a market share of 86% in terms of the value of the citrate market. In the United States, the willingness of consumers to pay a premium price for more natural products has changed the dynamics of the citrate market.
Food produced are keen to maintain the trust of their buyers and therefore are retaining transparency in the production processes and ingredients they use. Many producers also mention the source and region of procurement of raw material.
Good Quality Products at Reasonable rates are Propelling the Growth
FMI has projected the United Kingdom to remain a lucrative market throughout the forecast period. Various producers are focusing on providing citrus flavor at an optimal cost due to the high demand among buyers. In view of the same, several players have executed the integrated production approach in order to deliver cost-effective citrus flavor and ingredients.
Expansion of the food sector also will continue creating growth opportunities in the United Kingdom. Consumers in the country show a higher inclination for processed food, which makes it a lucrative market for citrate within Europe.
The Use of Citrate in Medicine is Expected to Boost the Demand
Germany accounts for a considerable share in the Europe citrate market and is expected to grow at CAGR of 3.3% over the forecast period. In Germany, manufacturers are using magnesium citrate in producing medicines.
A few minerals are not obtained in a proper amount from our daily diet which fuels the demand for supplements. This trend also is visible in Germany. Magnesium citrate in supplements is useful for bone density, blood pressure management, heart health, blood sugar regulation and others. Along with this, it is an electrolyte and increases the ability of the heart to pump blood. Rising focus on health and wellness will therefore emerge as a chief growth driver in Germany.
Citrates being used as Additives is Likely to Aid the Growth
The Middle East & Africa (MEA) is estimated to be a rapidly growing market for food-grade sodium citrate during the upcoming years. The food-grade sodium citrate market in the region is in the emerging stage. Hence, key manufacturers are largely focusing on the Middle East & Africa (MEA) to expand their market share and global presence.
The GCC countries hold the maximum share in the citrate market in MEA. Food grade sodium is used as food additives to improve and maintain the safety of processed food, boost nutritional value, enhance the taste, texture, appearance, and consistency of food. These additives are gaining popularity in various end-use applications, for instance, bakery, meat & poultry products, confectionery, beverages, dairy, frozen dessert and others.
Health Benefits of Citrate will Open Up New Opportunities in China
FMI has projected China to remain the dominant market throughout the forecast period, with a market share of 39.6% in East Asia. The demand in the market has increased owing to the health benefits of using citric acid.
Citrate can chelate with calcium, which is an advantage to people suffering from kidney stone. The stone is caused because calcium accumulates in the kidney. Citrate has the ability to bind with calcium and reduce urine acidity, thereby reducing kidney stone incidence.
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Report Attribute | Details |
---|---|
Growth Rate | CAGR of 4.7% from 2022 to 2032 |
Market value in 2023 | USD 891.99 million |
Market value in 2033 | USD 1,422.97 million |
Base Year for Estimation | 2022 |
Historical Data | 2018 to 2022 |
Forecast Period | 2023 to 2033 |
Quantitative Units | USD million in value |
Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
Segments Covered | Product, Form, Application, Region |
Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East and Africa |
Key Countries Profiled | United States, Canada, Mexico, Brazil, Germany, United Kingdom, France, Spain, Italy, Japan, China, Singapore, Thailand, Indonesia, Israel, GCC countries, South Africa, Australia, New Zealand |
Key Companies Profiled | Cargill, Inc.; Archer Daniels Midland Company; Tate & Lyle PLC; Jungbunzlauer Suisse A; Shandong Juxian Hongde Citric Acid Co., Ltd.; S.A. Citrique Belge N.V.; Weifang Ensign Industry Co., Ltd.; RZBC Group; Gadot Biochemical Industries Ltd. |
Customization & Pricing | Available on Request |
The industry is valued at USD 891.99 million in 2023.
The citrate market is segmented by grade, application, and geography.
The food and beverage industry is the key consumer of the citrate market.
The industry is estimated to reach USD 1,422.97 million by 2033.
The citrate market CAGR for 2033 is 4.7%.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product 5.1. Calcium Citrate 5.2. Potassium Citrate 5.3. Sodium Citrate 5.4. Magnesium Citrate 5.5. Others 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Form 6.1. Powder 6.2. Liquid 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 7.1. Food & Beverages 7.2. Pharmaceutical 7.3. Animal Feed 7.4. Nutraceuticals 7.5. Industrial 7.6. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. MEA 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. Cargill, Inc. 16.2. Archer Daniels Midland Company 16.3. Tate & Lyle PLC 16.4. Jungbunzlauer Suisse A 16.5. Shandong Juxian Hongde Citric Acid Co., Ltd. 16.6. S.A. Citrique Belge N.V. 16.7. Weifang Ensign Industry Co., Ltd. 16.8. RZBC Group 16.9. Gadot Biochemical Industries Ltd. 16.10. Huangshi Xinghua Biochemical Co., Ltd. 17. Assumptions & Acronyms Used 18. Research Methodology
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