Sodium Citrate Market to Reach $1.2 Billion, Globally, by 2031 at 4.1% CAGR: Allied Market Research

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Feb 21, 2023, 10:31 ET

The wide applications of sodium citrate among food & beverage, pharmaceutical, and other industrial uses drive the growth of the global sodium citrate market.

PORTLAND, Ore., Feb. 21, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Sodium Citrate Market by Type (Monosodium Citrate, Disodium Citrate, Trisodium Citrate), by Application (Food and Beverages, Pharmaceuticals, Cosmetics, Soaps and Detergents, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031". According to the report, the global sodium citrate industry generated $813.6 million in 2021, and is anticipated to generate $1.2 billion by 2031, witnessing a CAGR of 4.1% from 2022 to 2031.

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Prime determinants of growth

The wide applications of sodium citrate among food & beverage, pharmaceutical, and other industrial uses drive the growth of the global sodium citrate market. However, the health risks associated with consuming too much sodium in the daily diet restrict the market growth. Moreover, the increased use of sodium citrate as an environmentally friendly material in detergents is presenting new opportunities in the coming years.

Covid-19 Scenario

The outbreak of the Covid-19 pandemic had a negative impact on the global sodium citrate market, owing to temporary closure of manufacturing firms during the lockdown.
Import and export restrictions on goods, unavailability of raw materials, and lack of labor force were the key challenges exporters faced during the pandemic.

The trisodium citrate segment to maintain its leadership status throughout the forecast period

Based on type, the trisodium citrate segment held the highest market share in 2021, accounting for more than two-thirds of the global sodium citrate market, and is estimated to maintain its leadership status throughout the forecast period. Trisodium citrate anhydrous, with its ability to absorb water and free-flowing nature, can be used as a carrier in moisture-sensitive formulations. Owing to this factor, it is mostly preferred among end-use application industries which drives the sodium citrate market demand. However, the monosodium citrate segment is projected to manifest the highest CAGR of 4.68% from 2022 to 2031.

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The food and beverages segment to maintain its lead position during the forecast period

Based on application, the food and beverages segment accounted for the largest share in 2021, contributing to nearly two-fifths of the global sodium citrate market, and is projected to maintain its lead position during the forecast period. One of the prime factors for the growth of this segment is the increase in demand for processed, ready-to-eat, and convenience food & beverage products. However, the soaps and detergents segment is expected to portray the largest CAGR of 4.9% from 2022 to 2031.

Asia-Pacific to maintain its dominance by 2031

Based on region, Asia-Pacific held the highest market share in terms of revenue in 2021, accounting for around two-fifths of the global sodium citrate market, and is likely to dominate the market during the forecast period. This region is expected to witness the fastest CAGR of 4.49% from 2022 to 2031. The wide use of sodium citrate in packaged food will drive the market demand as consumers are focusing on the consumption of packaged food as they help to save time & suffice hunger.

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Leading Market Players:

Archer Daniels Midland Company,
Wang Pharmaceuticals and Chemicals,
FBC Industries, Inc.,
Hunan Dongting Citric Acid Chemicals Co., Ltd.,
Jiangsu Mupro IFT Corp.,
Cargill, Incorporated,
Natural Biological Group Co., Ltd.,
Citribel nv,
Huangshi Xinghua Biochemical Co. Ltd.,
Pan Chem Corporation,
Gadot Biochemical Industries Ltd.,
Jungbunzlauer Suisse AG,
Laiwu Taihe Biochemistry Co.,Ltd.,
FUSO CHEMICAL CO., LTD.,
ATPGroup

The report provides a detailed analysis of these key players of the global sodium citrate market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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