Global Citric Acid Market Market Size
The market for citric acid was estimated to be worth US$ 4.2 billion in 2024 and is expected to increase at a compound annual growth rate (CAGR) of 12.00% to reach US$ 10.3 billion by 2034.
Naturally occurring organic acid, citric acid, has extensive application in many businesses and daily items. Lemons, limes, oranges, and grapefruits are among the citrus fruits that contain large amounts of this weak acid, which has the molecular formula C6H8O7. However, some fungal species, including Aspergillus Niger, can also create it by fermentation.
Citric acid is widely utilized in the food and beverage business as an acidifying and flavoring agent. The growing population and changing consumer preferences drive demand for processed and easy foods. Due to its ability to improve flavors, act as a preservative, and impart an acidic taste, citric acid is frequently used as an ingredient in a wide range of food and beverage products.
Citric acid is widely utilized in the food and beverage business as an acidifying and flavoring agent. The growing population and changing consumer preferences are driving up demand for processed and easy foods. Because of its ability to improve tastes, act as a preservative, and impart an acidic taste, citric acid is a frequently used ingredient in various food and beverage items. This reason is also expected to fuel the growth of the citric acid market.