Global Potassium Citrate Market growing at a CAGR of 2.9% from 2023 to 2030
Category : Materials And Chemicals | Published Date : Aug 2023
Key Market Overview
Consegic Business Intelligence analyzes that the potassium citrate market is predicted to grow at a compound annual growth rate of 2.9% from 2023 to 2030 and is expected to reach USD 854.77 million in 2030 which was valued at USD 684.69 million in 2022.
The report highlights the increasing adoption of potassium citrate in the food & beverage industry, which is proliferating global market growth. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the potassium citrate market.
Global Potassium Citrate Market By Overview
The potassium citrate market is bifurcated into purity and end-use industry. Based on purity, the market is segmented into less than 98%, 98%-99%, and above 99%. In 2022, the above 99% segment dominate in the overall potassium citrate market. The end-use industry segment is categorized into food & beverages, pharmaceutical, cosmetics & personal care, industrial, and others. In 2022, the food & beverages segment accounted for the highest market share in the potassium citrate market.
Get Free SampleMarket Dynamics
Driver:
- The booming food and beverage industry is accelerating the potassium citrate market growth.
- Increasing adoption of potassium citrate in the pharmaceuticals industry is supplementing the market growth.
Restraints:
- Health hazards associated with potassium citrate are restraining the market growth.
Market Segmentation:
| Report Attributes | Report Details |
| By Purity | Less than 98%, 98%-99%, and Above 99% |
| By End-use Industry | Food & Beverages, Pharmaceutical, Cosmetics & Personal Care, Industrial, and Others |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Competitive Landscape :
The market is dominated by certain major companies such as Cargill, Incorporated., ADM, Tate & Lyle, and Juxian Hongde Citric Acid Co.LTD which have a strong market position in current market circumstances. These companies are continuously leveraging new technologies to develop innovative solutions. Furthermore, the potassium citrate market is expected to witness substantial growth in the coming years due to the growing investment in new potassium citrate range in key regions such as North America, Asia Pacific, and others.
The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships.
- Cargill, Incorporated.
- ADM
- Tate & Lyle
- Juxian Hongde Citric Acid Co.LTD
- Niran BioChemical Limited
- Gadot Biochemical Industries
- Huangshi Xinghua Biochemical
- FBC Industries
- Adani Pharmachem
- Global Calcium