Citrates Market Market – Exclusive Report by 360iResearch
The Global Citrates Market to grow from USD 3.74 billion in 2022 to USD 5.57 billion by 2030, at a CAGR of 5.09%.
PUNE, MAHARASHTRA, INDIA, November 14, 2023 /EINPresswire.com/ — The “Citrates Market by Type (Calcium Citrate, Magnesium Citrate, Potassium Citrate), Form (Liquid, Powder), End-Use – Global Forecast 2023-2030” report has been added to 360iResearch.com’s offering.
The Global Citrates Market to grow from USD 3.74 billion in 2022 to USD 5.57 billion by 2030, at a CAGR of 5.09%.
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The global citrates market encompasses a wide array of citrate salts derived from citric acid, which are utilized for their chelating, buffering, and flavor-enhancing properties in various applications. Key end-use segments include food & beverages, pharmaceuticals, personal care & cosmetics, detergents & cleaners, and industrial processes. Increasing demand for animal feed and growing demand for convenience foods and ready-to-drink beverages are the major growth drivers in the worldwide citrates market. Moreover, fluctuating raw material prices, mainly owing to scarce availability or production inefficiencies, restrict market growth. Moreover, strict governmental guidelines and quality control concerns associated with citrate production may impact citrates production in specific regions or countries. Furthermore, the expanding pharmaceutical sector requires the use of these salts as excipients or buffers in drug formulations. Emerging trends such as clean labeling and green chemistry principles drive innovation in sourcing natural ingredients for eco-friendly products. Companies investing in R&D initiatives to develop novel plant-based extract formulations may tap into potential growth opportunities.
Form: Significant usage of powdered citrates to offer long shelf life and improved thermal stability
Liquid citrates are popular for their ease of use and compatibility in various industries, such as food & beverages, pharmaceuticals, personal care products, and detergents. They serve multiple functions, including preservatives, acidity regulators, flavor enhancers, emulsifiers, and stabilizers. Powdered citrates are favored when shelf stability and low moisture content are necessary; they display superior thermal stability and blending properties ideal for baking, confectionery, dairy products, and dry mix applications. In pharmaceuticals, they function as excipients for tablets or capsules. While liquid citrates are preferred for their ease of use and compatibility, powdered citrates offer long shelf life and improved thermal stability.
Type: Growing adoption of sodium citrate in pharmaceutical industry
Calcium citrate is a widely used dietary supplement for maintaining bone health and preventing osteoporosis. Magnesium citrate is another highly bioavailable form of magnesium that supports heart and nerve functions while relieving constipation. Potassium citrate serves as a medication and supplement for preventing kidney stones by raising urinary pH levels to dissolve existing stones and prevent new ones from forming. The demand for potassium citrate has risen globally due to its role in addressing kidney stone diseases and applications within food processing industries. Sodium citrate is a versatile ingredient used as an anticoagulant agent in blood transfusions and an emulsifier for dairy products. In recent studies, sodium citrate was found to improve exercise performance by reducing muscle fatigue during high-intensity activities through its buffering capability against lactic acid accumulation. Overall, the various types of citrates play crucial roles in numerous industries while offering multiple health benefits to consumers worldwide.
End-Use: Increasing demand in the animal feed and nutraceutical sector
In the animal feed sector, citrates enhance growth and nutrient absorption while supporting physiological functions. In the food & beverage domain, citrates serve as preservatives, acidity regulators, flavor enhancers, and emulsifiers to maintain product quality and extend shelf life. The nutraceutical industry utilizes functional citrate compounds such as calcium citrate and magnesium citrate in dietary supplements to support health aspects such as bone health and energy production. Citrates find use in personal care & cosmetics for their chelating, buffering, and stabilizing properties that improve formulation efficacy and prolong product shelf life. In pharmaceuticals, citrates serve as excipients or solubilizing agents that enhance drug delivery systems’ effectiveness. Overall, the diverse applications of citrates across these sectors highlight the need-based preferences within each end-use segment, prioritizing functionality and performance enhancement in industries such as Animal Feed and Nutraceuticals while focusing on product stability or eco-consciousness in personal care and cosmetics.
Regional Insights:
In North America, the citrates market is due to the well-established food processing industry and high consumer demand for processed food products that contain citrate-based additives. The United States has large-scale production capacities for citric acid – the primary raw material used in producing citrates. Meanwhile, Latin America shows potential for market growth as its economies strengthen and demand for processed foods increases. Within the EMEA region, Europe represents a significant share of global citrates demand due to stringent food safety regulations imposed by European Union (EU) authorities, which necessitate greater use of safe and natural ingredients such as citrates in F&B products. The Middle East and Africa have seen an upsurge in demand as their population continues to grow rapidly, along with increased urbanization rates that lead to higher consumption levels for food and beverage products containing natural preservatives such as citrate salts. Asia-Pacific is witnessing significant growth for citrates due to rapid industrialization, urbanization and increasing disposable incomes in countries such as China, India, Japan, South Korea, and ASEAN nations. This has led to significant growth in end-use industries such as F&B, pharmaceuticals, personal care products, detergents & cleaners that require citrate-based ingredients. In addition, rising awareness about health benefits associated with citrate consumption in rural areas of Asia-Pacific is creating new market opportunities.
FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Citrates Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Citrates Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Citrates Market, highlighting leading vendors and their innovative profiles. These include Adani Pharmachem Private Limited, Archer Daniels Midland Company, ATPGroup, Ava Chemicals Private Limited, BASF SE, Citribel NV, DPL-US, Dr. Paul Lohmann GmbH & Co. KGaA, Ebrator Biochemicals, FBC Industries, Inc., Foodchem International Corporation, Gadot Biochemical Industries Ltd., Ing. Petr Švec – PENTA s.r.o., Jungbunzlauer Suisse AG, Merck KGaA, Noah Chemicals, Inc., Novis Works LLC, Pan Chem Corporation, ProChem, Inc., RZBC Group Co., Ltd., Shandong Ensign Industry Co., Ltd., Shandong Juxian Hongde Citric Acid Co., Ltd., Tate & Lyle PLC, Thermo Fisher Scientific Inc., and Wang Pharmaceuticals and Chemicals.
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Market Segmentation & Coverage:
This research report categorizes the Citrates Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Type, market is studied across Calcium Citrate, Magnesium Citrate, Potassium Citrate, and Sodium Citrate. The Sodium Citrate is projected to witness significant market share during forecast period.
Based on Form, market is studied across Liquid and Powder. The Powder is projected to witness significant market share during forecast period.
Based on End-Use, market is studied across Animal Feed, Food & Beverage, Nutraceuticals, Personal Care & Cosmetics, and Pharmaceuticals. The Personal Care & Cosmetics is projected to witness significant market share during forecast period.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Americas commanded largest market share of 38.03% in 2022, followed by Europe, Middle East & Africa.
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Citrates Market, by Type
7. Citrates Market, by Form
8. Citrates Market, by End-Use
9. Americas Citrates Market
10. Asia-Pacific Citrates Market
11. Europe, Middle East & Africa Citrates Market
12. Competitive Landscape
13. Competitive Portfolio
14. Appendix
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Citrates Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Citrates Market?
3. What is the competitive strategic window for opportunities in the Citrates Market?
4. What are the technology trends and regulatory frameworks in the Citrates Market?
5. What is the market share of the leading vendors in the Citrates Market?
6. What modes and strategic moves are considered suitable for entering the Citrates Market?
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Mr. Ketan Rohom
360iResearch
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