Citric Acid Market
The global Citric Acid Market is anticipated to expand at a rate of 4.65% over the forecast period. This is because of the continuously accelerating population in the world demanding sophisticated pharmaceuticals to treat several health issues.
Citric Acid Market Dynamics
The increasing usage of citric acid as an antioxidant, preservative, compounding, flavoring, and chelating agent in various applications such as soups, bakery, beverages, sweets, confectionery, and savory snacks is one of the foremost forces anticipated to proliferate the market growth. Also, citric acid helps to conserve cosmetic, cleaning products, and medicines which will proffer huge opportunities for market growth. Moreover, the growing usage of citric acid as disinfectants and insecticides to help exterminate bacteria and viruses has stimulated market growth. Besides this, the perforation in the food industry and the growing usage of food additives in processed foods has elevated the market growth. Furthermore, the growing demand for safe food & drinks will drive the Citric Acid Market size.
However, the inauspicious effects of citric acids, such as stomach pain and swelling caused by their excessive consumption, may restrain the market growth. In addition, the extraction of citrus additives is exceptionally costly, which is projected to hamper the Citric Acid Market growth.
Application Segment Drivers
Based on the application, the food and beverage segment is expected to expand at a significant rate over the forecast period. This is because of the increasing application of citric acid as an aromatic substance and protecting agent in the food and beverage industry. Moreover, as per the Citric Acid Market forecast, the usage of citric acid in soft drinks and candies to offer an acidic and refreshing flavor, cheese production in the dairy industry, and processed frozen foods to reduce their deterioration rate will bolster the market growth.
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