Citric Acid Market is Anticipated to Value USD 3.83 billion by 2025: Grand View Research, Inc.

15-November-2018: According to a report by Grand View Research, Inc., global citric acid market is anticipated to value USD 3.83 billion by 2025. Growing requirement for chemical compound that can increase shelf life of food and ease digestion is anticipated to propel demand for citric acid. This acid is likely to impart sourness & tartness and enhance flavor, when used as additive in food products. In addition, it can also inhibit microbial growth to increase shelf life of food.

Increasing use of citric acid in manufacturing of digestive medicines is likely to influence growth of market. Growing adoption of citric acid as additive in food & beverages to enhance shelf life can augment market growth during the forecast period (2014 to 2025).

The citric acid market can be segregated on the basis of form, application, and region. Based on form, the market can be bifurcated into powder and liquid. In 2016, powder segment dominated the market and accounted for 63.3% market share. The segment is likely to lose market share by 2025 attributed to increasing use of liquid form in food & beverages and detergents. Liquid form of citric acid can be used in various food and dairy products owing to its properties such as texture modification, flavor enhancement, and acidifying agent. Such form can also be used in oil sector as iron control additive for chelating and to maintain pH level of acidizing agents to reduce precipitation of iron in oil.

Based on application, the market can be categorized into food & beverages, pharmaceutical, and others. In 2016, food & beverages segment dominated the market and accounted for market share 57.9%. It is likely to grow at remarkable CAGR of 5% from 2017 to 2025. Increasing use of citric acid in dietary supplements and ice creams can fuel growth of segment. In addition, citric acid can control pH value in medicines and form salt derivatives of metals and minerals in pharmaceuticals. Moreover, it can be used with sodium bicarbonate in effervescent formulae to manufacture ingestion tablets and personal care.

Other application segments can include cosmetics, detergents & cleaners, animal feed, and textiles. When used in cleaners, it is likely to enhance formation of foam and work well without using water softener. In addition, citric acid can also be used to develop photographic films by using it in stop bath. 

Regional segmentation includes Europe, North America, Asia Pacific, Central & South America, and Middle East & Africa. In North America, the market is expected to witness significant growth during the forecast period attributed to rising demand for digestive citric acid based pharmaceuticals and food & beverages in the region. According to world health organization (WHO), around 65 to 70 million people in North America are likely to face digestive problems. Use of digestive citric acid in food, beverages, and medicines can resolve problem related to digestion, which in turn can augment growth of market in this region.

In Europe, the market is likely to grow at remarkable rate during the forecast period. In 2016, Germany accounted for market share equivalent to USD 220.1 million. Prevalence of major pharmaceutical manufacturers in the region such as Merck; Bayer AG; and Schering AG can fuel market growth in this region.

In Middle East & Africa, the market can grow well during the forecast period attributed to growing awareness regarding benefits of citric acid based pharmaceuticals and food & beverages in the region. In addition, increasing penetration of international market participants by establishing plants and offices in the region to expand their footprint can fuel growth of market.

In Asia Pacific, the market is anticipated to witness highest growth rate during the forecast period. Increasing number of geriatric population and prevalence of lifestyle diseases such as mental health problems, cardiovascular diseases, and gut health-related issues can influence market growth in this region.   

Some of the leading companies offering citric acid are Metagenics; MP Biomedicals; Cargill, Inc.; Pfizer, Inc.; and Kenko Corporation. Continual technological developments and increasing use of advanced machines to manufacture citric acid is likely to increase production of innovative products such as encapsulated citric acid. Manufacturing companies can also invest in R&D activities to develop citric acid products that can be used in multiple applications such as cosmetics, pharmaceuticals, and detergents.

In-Depth Research Report On Citric Acid Market:

https://www.grandviewresearch.com/industry-analysis/citric-acid-market

Animal Feed Additives Market is Expected to Reach 23.81 Billion by 2025: Grand View Research, Inc.

13-November-2018: According to a report published by Grand View Research, Inc.; the animal feed additives market is expected to reach a valuation of around 23.81 billion by 2025.

Growing consumption of milk and meat products coupled with high concerns regarding diseases among livestock can propel the market during the forecast period (2014 to 2025). Additionally, Growing awareness among the customers regarding extrinsic quality attributes of meat is also expected to increase the demand for these products.

High prevalence of diseases in livestock animals such as foot and mouth infections, bird flu, and swine flu has increased the concern about quality and safety of meat and meat products. The fodder additives play vital role to prevent diseases in animals and to improve vitamin intake, digestion, the rate of weight gain, which enhances the overall quality of meat production. These benefits are expected to drive the market in the coming years. Furthermore, technological advancements with enhancements in formulations of products according to feed type preferences and changing regulatory policies are steering are driving the market growth.

However, high demand for grains such as barley, wheat, and maize from other commercial food and biofuel application are likely to hamper the market growth.

Worldwide animal feed additives market can be divided into product, livestock, and region.

Based on product, the market can be categorized into antibiotics, vitamins, antioxidants, amino acids, Feed Enzymes, feed acidifiers, and others.

The amino acids segment appeared as the major segment and estimated for over 30% of the overall revenue in 2015. Growing consumption of meat in Asia pacific and Middle East regions is expected to drive the segment growth in the coming years.

In 2015, the antibiotics segment was the second leading segment accounted for around 26% of the total volume. The ban on antibiotics in Europe and the U.S. is likely to increase the demand for alternative products such as acidifiers, enzymes, and amino acids.

As per livestock, the market can be bifurcated into port/swine, poultry, cattle, aquaculture, and others.

In 2015, in terms of revenue, the poultry segment was the leading segment and accounted for over 34% of the total revenue. The cattle segment was the second largest segment in 2015 and is anticipated to estimate over 29% of the total market share in terms of volume by 2025.

Geographically, the market can be divided into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa.

In 2015, Asia Pacific reported for the major market and captured around 33% of the total revenue. The region is likely to expand at a CAGR of 3.8% from 2016 to 2025. This growth can be attributed to growing population, improving living standards, and rise in disposable income. Developing countries in this region such as China, Indonesia, and India have been experiencing strong economic growth. China is considered as one of the key producers as well as consumer of meat in the world. Rapid urbanization, chaining lifestyle, and growth in disposable has increased their shift from traditional food to meat product in the country.

In 2015, North America was the second largest market and estimated for around 27% of the total volume. High availability of raw material such as dextrose and maize are expected to boost the market in this region. In 2015, the U.S. foodstuff acidifiers market in cattle livestock was 613 tons and is likely to reach a total volume of over 1,090 tons through 2025. High consumption of meat in the U.S. and Mexico and presence of strict regulations about meat quality are driving the growth in this region.

Prominent companies operating in the market include Novus International Inc.; Elanco Animal Health; Ajinomoto Co., Inc.; Elanco Animal Health; and Evonik Industries. The market is highly competitive and the parameters such as application development and customized products are major parameters for the competition. Players in the market are focused in the development of diversified product range to gain higher share in the market.

In-Depth Research Report On Animal Feed Additives Market:

https://www.grandviewresearch.com/industry-analysis/animal-feed-additives-market