As per the latest report by IMARC Group, titled “Citric Acid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the market size reached 2 Million Tons in 2018. Citric acid is an organic acid which is generally found in a variety of fruits such as limes, lemons, oranges, pineapples and grapefruits. It is a natural ingredient that aids in detoxification, maintaining energy levels, and supporting healthy digestion and kidney function. It has a slightly tart and refreshing flavor and is employed for balancing the sweetness in soft drinks, juices, and other beverages. Further, citric acid is frequently incorporated in facial packs and masks as it naturally brightens and lightens the skin tone, minimizes breakouts and oiliness, and regenerates the dead skin cells.
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Global Citric Acid Market Trends:
In recent years, increasing inclination toward ready-to-drink beverages and processed foods has been witnessed on account of economic growth, busy lifestyles, increasing urbanization and rising disposable incomes. This has led to the heightened demand for citric acid in the food and beverage industry where it is utilized as a preservative, flavoring and coloring agent. Apart from this, owing to its numerous advantageous properties, citric acid finds vast applications in coatings, inks, plastics and polymers, personal care products, cleaners and detergents, adhesives and sealants, pharmaceutical products, and clinical nutrition and pet food items. Additionally, the growing awareness about the adverse impacts caused by chemicals used in everyday products has resulted in a shift towards products made using natural ingredients. On account of these factors, the market volume is projected to reach 3 Million Tons by 2024, expanding at a CAGR of around 4% during 2019-2024.
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Market Summary:
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