Potassium Citrate Market Growth Factors, Industry Overview, Product Types and Application by Regional Analysis
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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