From 2023 to 2033, the global Potassium Citrate Market is projected to expand from its 2023 valuation of USD 705.23 Million to its 2033 valuation of USD 947.77 Million, a CAGR of 3%.
The potassium citrate market is being propelled forward by the following factors:
| Attributes | Details |
|---|---|
| Market Value (2023) | USD 705.23 Million |
| Market Value (2033) | USD 947.77 Million |
| CAGR (2023 to 2033) | 3% |
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The demand for potassium citrate is highest in Asia and the Pacific. Potassium citrate is mostly produced and exported from China. China's major market for exported potassium supplements is the United States. Its export levels are exceptionally high compared to those of other regions.
As a result of the cheaper cost of producing potassium supplements in the region, firms can offer relatively low prices in order to stay competitive. Because of its wide range of applications (preservative, emulsifier, etc.), potassium citrate was most widely used in the food and beverage industry across the country as well as Asia Pacific. One major reason for its widespread use is that the area has less severe laws for food additives.
Manufacturers operating in the potassium citrate market have a significant presence in China. These include Foodchem International Corporation, Huangshi Xinghua Biochemical, RZBC Group Co., Ltd., and Jiangsu Mupro IFT Corporation. It is anticipated that the expansion of China's detergent, agrochemical, fertilizer, metal surface treatment, cosmetic, and pharmaceutical industries is expected to have a beneficial effect on the APAC potassium citrate market.
In terms of application, emulsifier was the most prominent sub-segment in 2022, accounting for 20.2% of total potassium citrate volume over the world. Margarine, creamy sauce, mayonnaise, sweets, packaged processed meals, confections, and baked goods are just some of the many food items that make use of this market area, all of which bodes well for its future expansion.
Growing sausage consumption in Europe is expected to increase demand for emulsifiers in processed meat in the region. For the meat proteins, water, and fat that make up a sausage to stay cohesively connected to one another, stable emulsification is required.
Potassium citrate, also known as tripotassium citrate or citric acid potassium salt, is a tribasic potassium salt of citric acid. It is manufactured by a neutralisation and a subsequent crystallization of citric acid with potassium carbonate or potassium bicarbonate.
The white crystalline hygroscopic powder namely potassium citrate finds a variety of applications across a diverse set of industries. Potassium citrate is often used as a stabilizer, as a chelating agent, as asequestering agent, as an antioxidant or as an emulsifier among other uses.
It often finds application as a replacement for sodium citrates in applications where a low sodium content is desired. Potassium citrate is widely used in food and beverage industry forming an important ingredient in bakery products, beverages, dairy products, among others.
Moreover, it also finds application in personal care products industry, pharmaceuticals, agrochemicals and feed industry. Potassium citrate is often used in other industrial use products such as cleaners and detergents. Potassium citrate market is expected to register steady growth over the forecast period.
Global Potassium Citrate market is expected to register a steady growth during the forecast period. The major factor that is expected to drive the growth of potassium citrate market is the growth of end use industries for sodium citrate.
Moreover, growing awareness about benefits of low sodium levels in food has resulted in steady growth in demand for low sodium content foods beverages, this is another factor that is expected to propel the growth of global potassium citrate market during the forecast period.
Besides, the growth in demand for processed food, the growth of processed food industry is expected to in turn drive the growth of global potassium citrate market over the forecast period.
On the basis of geographic regions, global Potassium Citrate market is segmented into seven key market segments namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Japan, and Middle East Africa.
Some of the identified major players operating in the global Potassium Citrate market are as follows:
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies.
The research report provides analysis and information according to market segments such as geographies, product types and end use industries.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
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Potassium Citrate Market
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