Potassium Citrate Market- growth, trends, covid-19 impact, and forecasts (2021 - 2027)
Potassium citrates are used in a wide range of sectors
such as food and beverage, pharmaceuticals, personal care and household, and
others. The food and beverage segment is estimated to generate the highest
revenue during the forecast period. Potassium citrate is used extensively as a
preservative and acidity regulator in foods such as salt substitutes, meat
products, cheese, cereals, bakery and confectionery products, and soups.
Market Segmentation
The global Potassium Citrate Market has been segmented by function, application, and region.
On the basis of function, the market has been segmented into acidulant,
emulsifier, stabilizer, chelating agent, antioxidant, diuretic, and others. On
the basis of application, the market has been divided into food and beverage,
pharmaceuticals, personal care, household, and others. On the basis of region,
the market has been segmented into North America, Europe, Asia-Pacific, Latin
America, and the Middle East & Africa.
Market Scenario
The emulsifier segment of the potassium citrate
market, by function, is expected to register the fastest growth during the
forecast period. Emulsifiers are used extensively as additives and
preservatives in processed food products and beverages and as toppings in
bakery and confectionery goods. The food and beverage application segment was
the largest in 2017 and is expected to remain so during the forecast period.
The growing demand for on-the-go food products and processed meats in emerging
economies is expected to substantially aid the growth of the market.
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Regional Analysis
The global potassium citrate market has been analyzed
with respect to five key regions—Asia-Pacific, North America, Europe, Latin
America, and the Middle East & Africa. Asia-Pacific accounted for the
majority share of the market in 2017 and is expected to be the fastest-growing
regional market at an exponential CAGR. The presence of the most populous
countries of the world, India and China, has led to the augmented demand for
cosmetics and household products which, in turn, is expected to fuel the demand
for potassium citrate in the region. The North American and European markets
are expected to grow at significant rates due to the burgeoning personal care
and pharmaceuticals industries in these regions.
Competitive Analysis
Some of the prominent players operating in the global
potassium citrate market are Cargill, Incorporated (US), Tate & Lyle Plc
(UK), Dr. Paul Lohmann GmbH KG (Germany), Archer Daniels Midland Company (US),
Gadot Biochemical Industries Ltd. (Isreal), American Tartaric Products Inc
(US), and FBC Industries, Inc. (US).
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