Leading players such as Archer-Daniels-Midland Company (U.S.), Cargill, Incorporated (U.S.), Tate & Lyle PLC (U.K.) and JUNGBUNZLAUER SUISSE AG (Switzerland), COFCO Biochemical (AnHui) Co., Ltd. (China), HUANGSHI XINGHUA BIOCHEMICAL CO.LTD (China), and S.A. Citrique Belge N.V. (Belgium), among others have been profiled in the report. To maintain a competitive edge in the citric acid market, the key players were observed to prefer new product development as a strategy to serve a broad range of industries. New technologies have initiated the emergence of innovative products that could help in cost reduction. Developing countries present a viable market for manufacturers, as these regions are emerging as potential markets with the availability of raw materials.
The global market for citric acid is projected to grow at competitive CAGRs of 5.5% and 5.2%, in terms of value and volume respectively, from 2015 to 2020. Europe led the market for citric acid in 2014, in terms of value and volume, owing to substantial growth in the processed food & beverage industry and high consumption of citric acid as a vital food additive. The market in the Asia-Pacific region is projected to grow at a higher rate as compared to the matured markets of developed economies.
The following customization options are available for the report:
- Product matrix, which gives a detailed comparison of the product portfolio of each company
- Further breakdown of the Rest of Europe citric acid market into Sweden, Poland, Norway, and Greece
- Further breakdown of the Rest of Asia-Pacific citric acid market into Malaysia, Australia & New Zealand, and Thailand
- Further breakdown of the RoW citric acid market into Paraguay, Uruguay, Chile, and Cuba
- Detailed analysis and profiling of additional market players (Up to 5)
Read the full report: http://www.reportlinker.com/p03700454-summary/view-report.html
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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/citric-acid-market-by-form--application--function--and-by-region---global-forecast-to-2020-300239183.html