According to a new report, published by KBV research, The Global Citric Acid Market size is expected to reach $4.9 billion by 2030, rising at a market growth of 3.9% CAGR during the forecast period. In the year 2022, the market attained a volume of 3,589.8 Kilo Tonnes, experiencing a growth of 3.1% (2019-2022).
The Powder segment is leading the Global Citric Acid Market, By Form in 2022; thereby, achieving a market value of $2.9 Billion by 2030. The powder form is utilized in various culinary applications as a choice of lemon juice or vinegar. It is utilized as a chelating agent within evaporators and boilers to eradicate and avoid the accumulation of limescale. In the food and beverage industry, the powder form of the substance is widely utilized to flavor and preserve edibles. In addition, it is utilized in ice creams as an emulsifying agent to prevent the fats from sticking together. Because it is very similar to table salt, it is frequently offered as sour salt in supermarkets and stores.
The Pharmaceutical segment is experiencing a CAGR of 4.2% during (2023 - 2030). Citric acid is primarily employed as an excipient in pharmaceutical formulations, where it performs various roles, including pH stabilization, chelation agent activity, and assurance of medication efficacy and stability. Moreover, it is an essential constituent in producing effervescent tablets, generating enthusiasm and thereby enhancing patient adherence to the prescribed medication regimen.
Full Report: https://www.kbvresearch.com/citric-acid-market/
The Asia Pacific region dominated the Global Citric Acid Market, By Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1.8 Billion by 2030. The North America region is poised to grow a CAGR of 3.3% during (2023 - 2030). Additionally, The Europe region would witness a CAGR of 3.5% during (2023 - 2030).
By Form (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Geography (Volume, Kilo Tonnes, USD Billion, 2019-2030)
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