Citric Acid Production is Fastest Growing Segment Fueling the Growth of Global Citric Acid Market
Citric Acid Market The global Citric Acid Market is estimated to be valued at US$ 3943.96 Mn in 2023 and is expected to exhibit a CAGR of 4.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market Overview: Citric acid is widely used as an acidulant, preservative and flavoring agent in food & beverage applications. It is used to add an acidic or sour taste to foods and beverages. Citric acid also helps to prevent bacterial growth thereby improving shelf life of various food products. Market key trends: One of the key trends driving the growth of citric acid market is rising demand from processed food & beverage industry. With rapid urbanization and changing lifestyle, demand for processed and packaged food products is increasing significantly. Citric acid finds extensive application in various processed food segments such as bakery, dairy, confectionery, jams & jelly among others as an acidulant and preserv...