Citric Acid Market from Commodity Chemicals to grow by $ 1.86 Billion during 2021-2025 | Technavio

·3 min read

Archer Daniels Midland Co., Cargill Inc., and COFCO Corp. will emerge as major citric acid manufacturers.

NEW YORK, June 24, 2021 /PRNewswire/ --

Technavio has announced its latest market research report titled Citric Acid Market by Application and Geography - Forecast and Analysis 2021-2025
Technavio has announced its latest market research report titled Citric Acid Market by Application and Geography - Forecast and Analysis 2021-2025

The citric acid market is expected to grow by USD 1.86 billion during 2021-2025, according to Technavio. The report offers a detailed analysis of the impact of the COVID-19 pandemic on the citric acid market in optimistic, probable, and pessimistic forecast scenarios.

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The citric acid market will witness a neutral impact during the forecast period owing to the widespread growth of the COVID-19 pandemic. As per Technavio's pandemic-focused market research, market growth is likely to increase in 2021 as compared to 2020.

Key Considerations for Market Forecast:

  • Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior

  • Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds

  • Pre- as well as post-COVID-19 market estimates

  • Quarterly impact analysis and updates on market estimates

Major Three Citric Acid Market Participants:

Archer Daniels Midland Co.: The company offers a wide range of citric acid products.

Cargill Inc.: The company offers liquid or anhydrous citric acid.

COFCO Corp.: The company is having businesses including Trading, Oils and oilseeds, Sugar, Meat, Tea, Biochemical, and Capital among many others. The company offers a wide range of citric acid products.

Citric Acid Market 2021-2025: Segmentation

Citric acid market is segmented as below:

  • Application

  • Geography

The citric acid market is driven by the growing demand for citric acids from detergents and cleaners. In addition, the versatile nature of citric acid is expected to trigger the citric acid market toward witnessing a CAGR of over 8% during the forecast period.

Get more insights into the global trends impacting the future of the citric acid market.
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Related Reports on Materials Include:

Global Tartaric Acid Market - Global tartaric acid market is segmented by Application (Wine, Food and beverages, Pharmaceuticals, and Others) and Geography (Europe, APAC, North America, South America, and MEA).
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Global Nitric Acid Market - Global nitric acid market is segmented by application (fertilizers and others) and geography (APAC, Europe, MEA, North America, and South America).
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Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered

  • Vendor classification

  • Market positioning of vendors

  • Competitive scenario

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Report: www.technavio.com/report/citric-acid-market-industry-analysis
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