Citric Acid Regulators Market to Reach $3.1 Billion, Globally, by 2031 at 5.3% CAGR: Allied Market Research

Increase in demand for ready-to-eat meals, fast food and soft drinks, a heavy inflow of investments in R&D activities, and the high demand for stabilizers and antioxidant food ingredients across European countries drive the global citric acid regulators market growth.

PORTLAND, Ore, Dec. 5, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Citric Acid Regulators Market by Form (Anhydrous, Monohydrate), by Application (Food, Beverage): Global Opportunity Analysis and Industry Forecast, 2021-2031." According to the report, the global citric acid regulators industry generated $1.8 billion in 2021, and is estimated to reach $3.1 billion by 2031, witnessing a CAGR of 5.3% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.

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Drivers, Restraints, and Opportunities

Increase in demand for ready-to-eat meals & fast food, introduction of innovative technologies, and a heavy inflow of investments in R&D activities, the upcoming trend of using natural flavor essence such as citric acid owing to rise in health awareness, and the high demand for stabilizers and antioxidant food ingredients across European countries to produce commercialized clean-label products drive the growth of the global citric acid regulators market. However, high cost of raw materials used in the manufacture of citric acid regulators hampers the market growth. On the other hand, increase in the use of citric acid regulators in the food & beverage industry, such as in bakeries, confectionery, sauces, condiments, and dressings provide lucrative opportunities for the market growth in the coming years.

Covid-19 Scenario

• The outbreak of the COVID-19 pandemic impacted the citric acid regulators market negatively. Production and processing activities were hampered, owing to the government's stringent rules to curb the spread of the disease and restrictions on transport, trade and imports. Disruptions in the distribution channel caused difficulties in obtaining raw materials and machinery.
• During the pandemic, the government of various nations divided different industries into categories of essentials and non-essentials. The operations of some food additive companies were declared as 'essentials' by the US government, and they were allowed to carry out operations at their facilities and continue sales in accordance with those requirements. The clients of some businesses where operations were classified as 'non-essential' were unable to purchase an item during the government-mandated shutdown, negatively impacting customer demand for the products.
• With the introduction of vaccines, the severity of the pandemic reduced significantly and companies in the industry gradually resumed their normal operations.

The anhydrous segment to maintain a progressive revenue growth during the forecast period

Based on form, the anhydrous segment was the largest market in 2021, contributing to around three-fifths of the global citric acid regulators market, and is expected to maintain its leadership status during the forecast period. The demand for the segment is due to its dry form that allows easy transportation and reduces wastage. On the other hand, the monohydrate segment is projected to witness the fastest CAGR of 5.8% from 2022 to 2031, owing to the increased popularity and usage of monohydrate form in the food manufacturing industry.

The beverage segment to maintain its leadership in terms of revenue during the forecast period

Based on application, the beverage segment was the largest market in 2021, contributing to more than two-thirds of the global citric acid regulators market, and is expected to maintain its leadership status during the forecast period. This is due to the high usage of citric acid regulators in different beverage products as a flavor enhancer and pH balancer. On the other hand, the food segment is projected to witness the fastest CAGR of 5.9% from 2022 to 2031, owing to the increased usage of citric acid regulators in different types of food products.

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Asia-Pacific to maintain its dominance in terms of revenue by 2031

Based on region, Asia-Pacific was the largest market in 2021, capturing more than one-third of the global citric acid regulators market, and is expected to lead the trail during the forecast period. This is due to the increase in use of citric acid regulators in food and beverage products, owing to the high market demand from the Asia-Pacific population. However, the market in Europe is projected to manifest the fastest CAGR of 6.8% during the forecast period, owing to the increase in demand for carbonated beverages and food products in the region. The report also analyzes the North America and LAMEA segments.

Leading Market Players

• Archer Daniels Midland (ADM)
• ATPGroup
• BASF SE
• Cargill Incorporated
• Chemelco International B.V.
• Citrique N.V.
• COFCO Group
• E. I. du Pont de Nemours and Company
• F.B.C. Industries, Inc.
• Foodchem International Corporation
• Gadot Biochemical Industries Ltd., S.A.
• Huangshi Xinghua Biochemical Co. Ltd.
• Jungbunzlauer Suisse AG
• Merck KGaA
• Kenko Corporation
• Koninklijke DSM N.V.
• TTCA Co., Ltd
• RZBC Group Co, Ltd.
• Tate & Lyle
• Shandong Ensign Industry Co., Ltd.

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