Potassium Citrate Market Application And Segment with Growth Rate, Competitive Trends and Regional Outlook
Potassium Citrate Market Overview:
Potassium Citrate Market growth (Opens in a new window) was USD 684.69 Million in 2022.It is projected to reach USD 854.77 Million by 2030, indicating a CAGR of 2.9% during the forecast period.
The Potassium Citrate Market has witnessed significant growth in recent years, driven by its versatile applications across various industries. Potassium citrate, a crystalline powder with a slightly salty taste, is widely used in the food and beverage sector, pharmaceuticals, and as a buffering agent in the manufacturing of cosmetics. The growing demand for potassium citrate is attributed to its role as a dietary supplement and its effectiveness in preventing kidney stones. As consumer awareness regarding health and wellness continues to rise, the market for potassium citrate is expected to experience sustained growth.
Market Key Players
Cargill, Incorporated., ADM, Tate & Lyle, Juxian Hongde Citric Acid Co.LTD, Niran BioChemical Limited, Gadot Biochemical Industries, Huangshi Xinghua Biochemical, FBC Industries, Adani Pharmachem, and Global Calcium
Market key drivers :
The potassium citrate market is thriving due to several driving forces. The growing occurrence of kidney stones and an escalating focus on health among consumers are pivotal factors boosting the demand for supplements containing potassium citrate. Moreover, the market is expanding thanks to the widespread utilization of potassium citrate as a flavor enhancer in the food industry and as a stabilizing agent in pharmaceuticals. Ongoing research and development initiatives in the pharmaceutical sector aimed at discovering novel applications for potassium citrate are expected to open up lucrative prospects for companies operating in this market.
Market Segmentation:
By Purity
· Less than 98%
· 98%-99%,
· Above 99%
By End-use Industry
· Food & Beverages
· Pharmaceutical
· Cosmetics & Personal Care
· Industrial
Regional Analysis:
The primary driver behind the market's expansion was the significant contribution from the Asia Pacific region, largely influenced by the increasing potassium citrate market share (Opens in a new window) for elastomers. A notable example is the strategic move made by Audia Elastomers, a manufacturer based in China. In October 2022, the company inaugurated a new manufacturing facility for elastomers in Changshu, China, with a specific goal of broadening its reach in the Chinese elastomers market. Consequently, the establishment of this fresh elastomer manufacturing site in the Asia Pacific region is actively fueling the overall growth of the market.
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