The North America Citric Acid Market would witness market growth of 3.3% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 1,000.4 Kilo Tonnes, showcasing a growth of 2.5% (2019-2022).
Evolving consumer preferences towards healthier and natural products and lifestyle changes influence the demand for citric acid in various applications. Manufacturers are adapting to meet the expectations of health-conscious consumers. Stringent regulations regarding food additives, labeling, and safety standards impact the market. Compliance with regulatory needs is crucial for market players to ensure the approval and acceptance of their products in various regions. The pricing and availability of raw materials, particularly sugars used in fermentation, directly affect its production costs. Changes in commodity costs can impact the profitability of manufacturers and influence market dynamics.
Ongoing advancements in fermentation technologies, extraction methods, and downstream processing contribute to the efficiency and sustainability of the production. Companies investing in research and development gain a competitive edge in the market. Economic factors, such as GDP growth, inflation rates, and currency exchange rates, influence the purchasing power of consumers and, consequently, the demand for citric acid in various applications. The rising awareness of environmental sustainability drives the adoption of eco-friendly practices in the market. Companies embracing sustainable sourcing, production, and packaging strategies will likely attract environmentally conscious consumers and gain a competitive advantage.
In North America, the rising demand for processed foods, beverages, and convenience products has likely contributed to the expansion of the market. The US Department of Agriculture states that meat processing is the largest food and beverage manufacturing industry, with 26.2 percent of sales in 2021. Other important industry groups by sales include dairy (12.8 percent), other foods (12.4 percent), beverages (11.3 percent), and grain and oilseeds (10.4 percent). It is primarily used as an acidulant in meat products. It helps regulate the pH of meat formulations, contributing to the desired texture, flavor, and preservation of the products. The increased demand for processed meat products in the US may drive the need for acid in these applications. Thus, the above aspects will expand the market growth across the region in the upcoming years.
The US market dominated the North America Citric Acid Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,034.7 Million by 2030. The Canada market is experiencing a CAGR of 5.6% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 4.7% during (2023 - 2030).
Free Valuable Insights: The Citric Acid Market is Predict to reach USD 4.9 Billion by 2030, at a CAGR of 3.9%
Based on Form, the market is segmented into Powder, and Liquid. Based on Application, the market is segmented into Food & Beverages, Pharmaceutical, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
By Form (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Country (Volume, Kilo Tonnes, USD Billion, 2019-2030)
Unique Offerings Our team of dedicated experts can provide you with attractive expansion opportunities for your business.
