Pune, India, July, 2018 /press release/- Market Research Future Published a Half Cooked Research Report on Global Potassium Citrate Market Research Report.
Potassium Citrate Market and is expected to reach USD 817.55 million by 2028, growing at a CAGR of 3% from Forecasts Period 2021-2028
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, diuretics, 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.
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.
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).