Citric Acid Market Size, Share, Industry, Forecast and outlook (2024-2031)

The Global Citric Acid Market reached USD 3.4 billion in 2022 and is projected to witness lucrative growth by reaching up to USD 4.8 billion by 2030. The market is expected to exhibit a CAGR of 4.2% during the forecast period 2024-2031. Citric acid, a key ingredient in various industries, is primarily produced from citrus fruits through a fermentation process. Citric acid production involves extracting juice from citrus fruits and utilizing specific microorganisms, such as Aspergillus niger, for fermentation. This process converts the sugars present in citrus fruits into citric acid. Citric acid finds widespread use in food and beverage, pharmaceutical and household product industries due to its natural acidulant, preservative and flavor-enhancing properties. The citric acid market has experienced robust growth driven by expanding applications across industries. Rising consumer awareness towards natural and organic products has increased the demand for citric acid. The food and beverage sector, pharmaceuticals and personal care industries are major contributors to market growth. The market is expected to continue its growth trajectory in the coming years.