CITRIC ACID MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)


Citric Acid Market Analysis:

The Citric Acid Market is anticipated to experience growth from USD 3.48 billion in 2023 to USD 4.27 billion by 2028, exhibiting a Compound Annual Growth Rate (CAGR) of 4.16% during the forecast period (2023–2028).

Citric acid is a versatile component that holds significant value in various industries, including both food and non-food sectors. It serves as an acidulant, preservative, antioxidant, buffering, and binding agent. Citric acid, in both liquid and anhydrous forms, finds applications in diverse domains such as food and beverages, pharmaceuticals, personal care, and more. In food products, citric acid is added as an additive to enhance sourness, tartness, and flavor. Additionally, its inclusion suppresses microbial growth, thereby increasing the shelf life of food products and driving the demand for citric acid.

The global popularity of citric acid in medicines and dietary supplements is on the rise. Its use helps preserve and stabilize the active ingredients in medicines and can also enhance the taste of chewable and syrup-based medications. Citric acid is also known to boost the absorption of mineral supplements like magnesium and calcium.

Furthermore, consumers are increasingly demanding citric acid extraction from natural sources as they prefer vegan sources for their products. This trend has led market players to focus on continuously launching new products with improved application capabilities and high-quality standards. As a result, the market for citric acid is expected to grow significantly in the coming years.

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