The global potassium citrate market reported a large market size in 2019 and is expected to reach a substantially large market size in 2027, registering a high CAGR over the forecast period. Industry analysis indicates that rising demand for potassium citrate in various end-users is driven by changing market trends, which are expected to support industry growth as well as market growth over the forecast period.
Potassium citrate, also known as tripotassium citrate, is a potassium salt of citric acid with the molecular formula K2C6H5O7. It is a hygroscopic crystalline powder that is white, odorless, and with saline taste. It contains 38.28% of potassium by mass. In the monohydrate form, potassium citrate is highly hygroscopic and deliquescent. It is an abundantly used chemical compound with a variety of applications such as cosmetics, food and beverages, personal care products, and pharmaceuticals. Demand for potassium citrate is expected to rise considerably in the near future and the existing players are expected to gain a higher market share in the next few years.
Top Companies Operating in the Global Potassium Citrate Market:
- American Tartaric Products
- Cargill
- ADM
- Tate Lyle
- Jungbunzlauer Suisse AG
- Cofco Biochemical
- Huangshi Xinghua Biochemical
- Gadot Biochemical Industries
- Niran
- Juxian Hongde Citric Acid Co. LTD
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The factors that drive the industry's growth are highlighted in the report. The report divides the Potassium Citrate market into main categories such as forms, applications, end-users, technology, and others for a better understanding. These segments are thoroughly examined in order to provide a more accurate outlook for the global and regional markets. The report also examines the industry's major players, including their product portfolios, company overviews, strategic growth strategies, revenue generation, market share and market size, geographic presence, and development and manufacturing capabilities.
Market Overview:
Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.
The adoption of digital technologies by oil, gas, and chemical firms has been fueled primarily by cost savings and greater reliability. Many organizations in these areas saw excellent benefits from advanced market sensing, improved operational optimization, and expanded usage of "in silico" simulations. Companies' existing digital technologies provided an advantage with the abrupt entrance of COVID-19 and the accompanying shutdown of facilities and work sites, but they were often insufficient for the level of remote working and cybersecurity that was suddenly required.
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Potassium Citrate Market Segmentation
By Grade (Revenue, USD Million; 2017–2027)
- Industrial
- Food
- Pharmaceutical
By End-user (Revenue, USD Million; 2017–2027)
- Food Beverages
- Industrial
- Pharmaceuticals
- Cosmetics
The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.
The Potassium Citrate market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Potassium Citrate market.
The global Potassium Citrate market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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