(Entertainment-NewsWire.com, October 12, 2017 ) The European Citric Acid Market is expected to grow at a CAGR of 5.2 % and reach USD 1.20 billion in 2021 from USD 0.93 billion in 2016. The European Citric Acid market is expected to show evident potential in the forecasting period.
Citric acid is an organic acid found in citrus fruits. It is mainly used as acidulant to add sour taste to soft drinks and foods and also used as preservative in various kinds of processed foods. It can also be used in the manufacturing of various detergents and cleaners, pharmaceuticals, industrial applications and personal care products.
Citric acid market is driven by factors like wide applicability of citric acid as an acidulant, emulsifier, preservative, sequestrant, flavorant, and buffering agent in various products of non-food and food industries. Rising applications of citric acid in detergents and cleansers for their biodegradability and other ecofriendly properties are also key driving factors of market. However, these manufacturers face strong competition from inter and intra market peers. This acts as one of the major restraint restricting the market.
The Europe market for Citric Acid is segmented on the basis of form, application, Function and grade. The market segmentation on the basis of form is done under Anhydrous and Liquid. Based on application, market is further segmented into Food, Pharmaceuticals & Cosmetics, Reagents and Others, where food segment is further segmented into Beverages, Confectionaries, Convenience food products, Dairy products. Of which, Convenience food products segment is further segmented into Creams, fats and fillings, Soups and Sauces, oils. The market segmentation based on function is done under Acidulant, Antioxidant, Preservative, and Sequestrant. On the basis of grade, market is further segmented into Pharmaceutical, Industrial. Food segment dominates the market with around three fourths of the share.
On the basis of geography, the Europe market is analyzed under various regions namely U.K, Germany, Spain, Italy and France. European revenue was triggered by demand for natural food additives from its food and beverage industry. Some of the major companies dominating the market, by their products and services include Tate & Lyle plc, Archer Daniels Midland Company, Pfizer Inc., and Gadot Biochemical Industries.
1)Form Introduction Anhydrous and Liquid Y-o-Y Growth Analysis, By Form Market Attractiveness Analysis, By Form Market Share Analysis, By Form
2)Application Introduction Food Products Beverages Confectionaries Convenience food products Creams, fats and fillings Soups and Sauces oils Diary products Pharmaceuticals, and Cosmetics Reagents Others Y-o-Y Growth Analysis, By Application Market Attractiveness Analysis, By Application Market Share Analysis, By Application
3)Function Introduction Acidulant Antioxidant Preservative Sequestrant Y-o-Y Growth Analysis, By Function Market Attractiveness Analysis, By Function Market Share Analysis, By Function
4)Grade Introduction Pharmaceutical Industrial Y-o-Y Growth Analysis, By Grade Market Attractiveness Analysis, By Grade Market Share Analysis, By Grade
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