Citric Acid Market Size, Share, and Forecast 2032

Citric Acid Market Size

The global citric acid market size was worth around USD 3.49 billion in 2023 and is predicted to grow to around USD 5.19 billion by 2032 with a compound annual growth rate (CAGR) of roughly 4.50% between 2024 and 2032.

Request Free Sample

The report covers forecast and analysis for the citric acid market on a global and regional level. The study provides historic data from 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD Billion).

Citric Acid Market: Overview

Citric acid is an organic acid that occurs naturally in fruits. It is an intermediate that comes in the citric acid cycle which occurs in the metabolism of all aerobic creatures. Around a million tons of citric acid is manufactured every year due to its wide application in various end-use industries.

The study includes drivers and restraints for the citric acid market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities and various trends in the citric acid market on a global level.

Request Free Sample

Citric Acid Market: Growth Drivers

The high demand from the food and beverage industry is one of the major factors that is stimulating the growth of the market in the forecast period. The consumers prefer products that consist of plant-based natural ingredients due to increase in the numerous health-related issues. Citric acid is also widely used in the cleaning products as there is a ban on the usage of phosphate in various regions which is likely to support the market growth in the upcoming period. The key players in the market are making various developments. Various research and development activities are being carried out by the major players which are supporting the market growth in the forecast period. However, excess consumption of the citric acid can have adverse effects on the health which may act as one of the major challenges in the market growth. On the other hand, the rise in the pharmaceutical industry is providing various opportunities for the market to grow in the upcoming period.

Citric Acid Market: Segmentation

The global citric acid market is segmented on the basis of Form, Application, Function and Region.

By Form, the global citric acid market segmented into Anhydrous, Liquid, 

By Application, the global citric acid market segmented into Pharmaceuticals, Food, Cosmetics, Others

By Function, the global citric acid market segmented into Acidulant, Antioxidant, Preservative, Sequestrant

Citric Acid Market: Report Scope

Citric Acid Market: Regional Analysis

Europe is one of the largest consumers of citric acid as the region has high growth in the food and beverage sector, which is supporting the growth of the market in the region. Moreover, the rise in the pharmaceutical industry in the region is also supporting the growth of the market in the forecast period.

Citric Acid Market: Key Players Analysis

Some of the key players operating in the global market include:

• Tate & Lyle plc
• Archer Daniels Midland Company
• Pfizer Inc.
• Gadot Biochemical.   

Citric Acid Market Segmented As

Global Citric Acid Market: Form Segment Analysis

• Anhydrous
• Liquid

Global Citric Acid Market: Application Segment Analysis

• Pharmaceuticals
• Food
• Cosmetics
• Others

Global Citric Acid Market: Function Segment Analysis

• Acidulant
• Antioxidant
• Preservative
• Sequestrant

Global Citric Acid Market: Regional Segment Analysis 

• North America
  • U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa