LONDON--(BUSINESS WIRE)--The global potassium citrate market is expected to post a CAGR of nearly 4% during the period 2018-2022, according to the latest market research report by Technavio.
A key factor driving the growth of this market is the increasing demand for potassium citrate in the food and beverages industry. Potassium citrate, also known as tripotassium citrate, is a vital component used in the food industry. It is used as an additive in processed food items. The food industry offers a range of products, including animal food, consumer food, consumer food, food ingredients, food additives, and dietary and nutraceutical supplements. It collaborates with other companies for retailing, packaging and distribution, and sale of these products. The well-established beverage industry offers a range of products, including juices, health drinks, alcoholic drinks, non-alcoholic drinks, and aerated drinks. Potassium citrate is also used as an additive in some sodas as a buffering agent to reduce and balance the tart flavor. It is also used as a buffering, sequestering or emulsifying agent in the beverages industry.
This market research report on the global potassium citrate market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the possibility of new entrants in the potassium citrate market as one of the key emerging trends in the global potassium citrate market.
Global potassium citrate market: Possibility of new entrants in the potassium citrate market
The market is consolidated by the presence of few players. New players can enter the market as the regulations are lenient in APAC and MEA. There is low product differentiation as potassium citrate is available only in the monohydrate and anhydrate forms. Low manufacturing costs of potassium nitrate attract new players. Forward and backward integration will drive the market during the forecast period.
“Citric acid is the key raw material used for producing potassium citrate. In 2017, the global citric acid market was valued at USD 3.2 billion. Thus, a rise in citric acid demand and upcoming new plants of citric acid production are estimated to fuel the growth of global potassium citrate market,” says a senior analyst at Technavio for research on specialty chemicals.
Global potassium citrate market: Segmentation analysis
This market research report segments the global potassium citrate market by product (monohydrate and anhydrate), end-user (food and beverages and pharmaceuticals) and geographical regions (APAC, EMEA, and the Americas).
The monohydrate segment held the largest market share in 2017, accounting for nearly 63% of the market. This product segment is expected to dominate the global market throughout the forecast period.
APAC led the market in 2017 with a market share of nearly 44%. This region is expected to dominate the market through 2022, with an increase in its market share by over 1%.
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Market Landscape
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- Market characteristics
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Market Sizing
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Five Forces Analysis
Market Segmentation
Geographical Segmentation
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Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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