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The potassium Citrate Market and is expected to reach USD 817.55 million by 2028, growing at a CAGR of 3% from Forecasts Period (2021-2028).
The potassium citrate market is influenced by various market factors that shape its dynamics, growth, and demand. One significant factor impacting this market is the increasing awareness among consumers regarding health and wellness. With a growing emphasis on preventive healthcare, there's a rising interest in potassium citrate due to its role in maintaining urinary health and preventing kidney stones. This heightened consumer awareness has driven the demand for potassium citrate-based supplements and pharmaceuticals.
Moreover, the expanding pharmaceutical industry plays a pivotal role in the potassium citrate market. Potassium citrate is a key ingredient in medications used to treat conditions like kidney stones and urinary tract infections. As pharmaceutical companies continue to innovate and develop new formulations for these ailments, the demand for potassium citrate as an essential component remains consistently high. Additionally, the increasing prevalence of kidney stones globally has propelled the pharmaceutical sector's interest in potassium citrate products.
Another crucial factor influencing the potassium citrate market is the agricultural sector. Potassium citrate is utilized as a food additive and a buffering agent in the agricultural industry. It serves as a source of potassium for plants and helps in controlling acidity in various agricultural applications. The growing demand for potassium citrate in agriculture for its diverse applications in fertilizers and animal feed additives contributes significantly to market growth.
Furthermore, the regulatory landscape plays a crucial role in shaping the potassium citrate market. Stringent regulations and standards imposed by government bodies regarding the usage and production of potassium citrate impact its availability and market reach. Compliance with these regulations is essential for manufacturers and suppliers to ensure product quality and safety, thereby influencing market dynamics.
Global economic conditions and trade policies also affect the potassium citrate market. Fluctuations in currency values, trade tariffs, and geopolitical factors can impact the pricing and availability of potassium citrate, thereby influencing market trends and growth patterns. Additionally, the market's competitiveness among key players and the emergence of new entrants further contribute to the market's dynamics.
Moreover, technological advancements and innovations in production techniques have a substantial impact on the potassium citrate market. Improved manufacturing processes, such as innovative extraction methods and enhanced purification techniques, lead to cost-effective production and higher product quality. These advancements contribute to meeting the increasing demand for potassium citrate and also open avenues for new product development, impacting market growth positively.
Potassium Citrate Market Highlights:
Potassium Citrate Market Overview
The potassium Citrate Market and is expected to reach USD 817.55 million by 2028, growing at a CAGR of 3% from Forecasts Period (2021-2028). Citric acid crystallizes with potassium bicarbonate to produce potassium citrate, which is a potassium salt of citric acid. Potassium citrate is used as an acidulant, emulsifier, stabilizer, chelating agent, and antioxidant in a variety of applications. In the food and beverage business, potassium citrate is widely utilized as a significant ingredient in beverages, bakery items, dairy products, and other products. It's also utilized as a food additive because it helps to control acidity. Furthermore, potassium citrate is employed in the healthcare industry as an emulsifying agent. The rising demand for pharmaceuticals and food and beverage items are the main drivers of the market's expansion. Furthermore, rising public awareness of potassium citrate's health benefits is assisting the market's expansion. In terms of function, the emulsifier segment dominated the potassium citrate market and is likely to continue dominating during the forecast period. Emulsifiers are widely utilized in bread and confectionery products in the food and beverage sector. The cosmetics industry's increased use of emulsifiers is also contributing to the market's rise.
Global Potassium Citrate Market Share, by Application
Source: MRFR analysis
Regional Analysis
The potassium citrate market has been segmented into five regions, namely, Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa. Asia-Pacific accounted for the majority share of 23% of the market in 2017 and is expected to be the fastest-growing regional market during the forecast period. The growing population and the increasing personal disposable income in developing nations are primarily driving the growth of the potassium citrate market in Asia-Pacific. Moreover, the growing food & beverage and healthcare industries in the region are also generating substantial revenue. The growing per capita income in the region has led to the increased demand for cosmetics and personal care products which is expected to drive the growth of the potassium citrate market in the region. North America is another dominant region in the global market. The presence of developed end-use industries and the growing adoption of potassium citrate are the major factors contributing to market growth. The demand for on-the-go food products and processed meats is increasing in the region, which is driving market growth. The European market is expected to grow at a steady rate during the forecast period. Increasing health concerns and the developed cosmetics and personal care industry in the region is positively impacting market growth.
Segmental Analysis
The global potassium citrate market has been segmented by function, application, and region. On the basis of function, the market has been segregated into acidulant, emulsifiers, stabilizer, chelating agent, antioxidant, diuretic, and others. On the basis of application, the market has been segmented into food and beverage, pharmaceuticals, personal care, household, and others. On the basis of region, the global potassium citrate market has been segmented into North America, Europe, Latin America, Asia-Pacific, and the Middle East & Africa.
Key Players
Some of the prominent players operating in the global potassium citrate market are Cargill, Incorporated (US), Tate & Lyle Plc (UK), Dr. Paul Lohmann GmbH KG (Germany), Archer Daniels Midland Company (US), Gadot Biochemical Industries Ltd. (Israel), American Tartaric Products Inc (US), and FBC Industries, Inc. (US).
Recent Development
In February of 2021, A business update from Parisian biotech Advicenne has been released, concentrating on the most recent positive scientific outlook for ADV7103 (potassium citrate/potassium hydrogen carbonate) in Europe. Advicenne is developing an application for the treatment of distal renal tubular acidosis, a rare genetic disease that affects the kidneys' ability to remove acid from the blood (dRTA). November 2020 is the target date. Gadot Biochemical Industries, based in Israel, recently completed the construction of a production process to produce special grades of Tri-Sodium Citrate (TSC) and Tri Potassium Citrate (TPC) that allow customers to meet the stringent chlorate content requirements of Regulation (EC) No.396/2005 for infant food. The company is the only global supplier of one-of-a-kind mineral additives with a concentration of less than 0.1 mg/kg, allowing customers to meet their regulatory requirements.
Regional Analysis
The report offers a brief analysis of the major regions in the market, namely, Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa.
Intended Audience
- Potassium citrate manufacturers
- Traders and distributors of potassium citrate
- Production process industries
- Potential investors
- Raw material suppliers
- Nationalized laboratories
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