The global potassium citrate market size is expected to reach USD 868.9 million by 2025, according to a report by Grand View Research, Inc., registering a CAGR of 3.7% during the forecast period. Increasing demand for potassium citrate on account of to its superior properties such as high water solubility, high chemical and microbiological stability, and outstanding biodegradability is anticipated to propel industry growth.
Emulsifiers perform various functions, such as potassium fortification, treatment of bladder infection and kidney stones, and as a sequestering agent. This has upped its demand in desserts, confectionery, bakery, juices and drinks, and syrups.
The personal care and household application accounted for 9.34% of the overall revenue in 2016 and is projected to exhibit steady growth on account of high utilization of potassium citrate in color cosmetics, skin care, deodorants, oral care, hair care, and soap and bath products. Growing demand for the product as a systemic alkalizer in the pharmaceutical sector is likely to augment industry demand.
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Further key findings from the report suggest:
The pharmaceutical sector is anticipated to exhibit substantial volume gains with a predicted CAGR of 2.7% from 2017 to 2025. This is owing to rising requirement of the product as a pharmaceutical aid in veterinary practice. Potassium citrate acts as an activator in several enzymatic reactions, which is essential in transmission of nerve impulses, carbohydrate metabolism, renal function, and tissue synthesis
Asia Pacific has a strong customer base and made up for 29.3% of the total revenue in 2016. Growing usage of cosmetic products such as sunscreens, makeup, creams, and lotions among the younger population in India and China is expected to have a major impact on market growth. Demand for detergents, agrochemicals, fertilizers, metal surface treatment, and pharmaceuticals is also expected to have a positive impact on regional growth
Manufacturers dominating the potassium citrate market are Cargill, Incorporated; Tate & Lyle Plc.; Dr. Paul Lohmann GmbH KG; Archer Daniels Midland Company; and Gadot Biochemical Industries, Ltd. Strengthening product length and capital expansion is expected to remain a key critical success factor for the industry in the near future
In December 2015, Jungbunzlauer Canada Inc., a subsidiary of Jungbunzlauer Suisse AG, announced the commencement of a new tripotassium citrate manufacturing plant in Port Colborne, Ontario, Canada. The company is anticipated to offer accelerated and flexible supply of tripotassium citrate to customers in North America
In August 2017, Foodchem International Corporation founded a laboratory to explore market trends and technological applications to trigger the development of nutritional food ingredients and carry out technical exchanges. This was in collaboration with the Food Institute of Jiangnan University in Jiangsu Sheng, China, a major institution in the field of engineering and food science.
Grand View Research has segmented the global potassium citrate market on the basis of function, application, and region:
Potassium Citrate Function Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
Potassium Citrate Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
Food & Beverage
Potassium Citrate Regional Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
Central & South America
Middle East & Africa
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