Cibi e Bevande
Citric Acid Regulators Market to Reach $3.1 Billion, Globally, by 2031 at 5.3% CAGR: Allied Market Research
Drivers, Restraints, and Opportunities
Increase in demand for ready-to-eat meals & fast food, introduction of innovative technologies, and a heavy inflow of investments in R&D activities, the upcoming trend of using natural flavor essence such as citric acid owing to rise in health awareness, and the high demand for stabilizers and antioxidant food ingredients across European countries to produce commercialized clean-label products drive the growth of the global citric acid regulators market. However, high cost of raw materials used in the manufacture of citric acid regulators hampers the market growth. On the other hand, increase in the use of citric acid regulators in the food & beverage industry, such as in bakeries, confectionery, sauces, condiments, and dressings provide lucrative opportunities for the market growth in the coming years.
Covid-19 Scenario
The anhydrous segment to maintain a progressive revenue growth during the forecast period
Based on form, the anhydrous segment was the largest market in 2021, contributing to around three-fifths of the global citric acid regulators market, and is expected to maintain its leadership status during the forecast period. The demand for the segment is due to its dry form that allows easy transportation and reduces wastage. On the other hand, the monohydrate segment is projected to witness the fastest CAGR of 5.8% from 2022 to 2031, owing to the increased popularity and usage of monohydrate form in the food manufacturing industry.
The beverage segment to maintain its leadership in terms of revenue during the forecast period
Based on application, the beverage segment was the largest market in 2021, contributing to more than two-thirds of the global citric acid regulators market, and is expected to maintain its leadership status during the forecast period. This is due to the high usage of citric acid regulators in different beverage products as a flavor enhancer and pH balancer. On the other hand, the food segment is projected to witness the fastest CAGR of 5.9% from 2022 to 2031, owing to the increased usage of citric acid regulators in different types of food products.
Asia-Pacific to maintain its dominance in terms of revenue by 2031
Based on region, Asia-Pacific was the largest market in 2021, capturing more than one-third of the global citric acid regulators market, and is expected to lead the trail during the forecast period. This is due to the increase in use of citric acid regulators in food and beverage products, owing to the high market demand from the Asia-Pacific population. However, the market in Europe is projected to manifest the fastest CAGR of 6.8% during the forecast period, owing to the increase in demand for carbonated beverages and food products in the region. The report also analyzes the North America and LAMEA segments.
Leading Market Players
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