Global Citric Acid Market Competition is Stiff, Weifang Ensign Industry Co., Ltd Holding a Share of 17.06% in 2024

Global Citric Acid Market Overview

According to Global Market Monitor, the global citric acid market size will reach $2395.19 million in 2024 with a CAGR of 5.62% from 2024 to 2028.

Citric acid is completely natural, produced by cells during the Krebs cycle. The acid gets its name from the citrus fruit family, which includes lemons, limes, oranges, tangerines, and grapefruits. Citrus fruits, especially the sourer ones like lemons and limes, owe their sharp taste to citric acid.

Increasing Demands

The rising demand for RTD beverages and RTE foods is the major factor for the market studied. The global marketplace has also witnessed the emergence of innovative beverages with exotic and ethnic fruit flavors and flavor blends. The functional superiority of citric acid in shelf-life enhancement, pH buffering, and providing flavor and tartness is higher than that of phosphoric, tartaric, and lactic acids to name a few. The robust demands for ready-to-drink (RTD) healthy beverages and soft drinks are facilitating the usage of citric acid. Citric acid is widely used to impart a pleasant, tart flavor to foods and beverages. It also acts as a pH adjuster in the manufacture of gelatin desserts, jellies, jams, etc. It acts as a flavor enhancer for fruits, berries, and other ingredients used in the manufacture of foods and candies. Moreover, citric acid is used to add an acidic (sour) taste to foods and soft drinks, and as a firming compound in products, such as canned tomatoes. Citric acid is a dry alternative to lemon juice or vinegar in dry foods, such as seasoning salts, flavoring powders, and crunchy snacks. The growing consumer demand for RTD beverages and processed foods is significantly aiding the citric acid industry's growth.

Stiff Competition      

With major manufacturers and suppliers in the citric acid industry competing globally, the intensity of competition within the citric acid industry has increased. The vendors adopt strategies like price premiums to stay competitive in the market. At the same time, small companies and retailers enter the business consequently as venturing into a citric acid business does not require immense capital or investment, leading to the proliferation of sub-standard or duplicate products which then hampers the competitive scenario in the market as established citric acid manufacturers are compelled to lower the price of their products, which ultimately impacts their profit margins and sales volumes. The fierce competition is not conducive to the sustainable development of the industry.

Weifang Ensign Industry Co., Ltd. is one of the major players operating in the Citric Acid market, holding a share of 17.06% in 2024. Weifang Ensign Industry Co., Ltd is a large enterprise producing such products as citric acid and alcohol-containing additives. Its plant has an advantageous geographical location in Changle, Fujian, China.

Company Name	Weifang Ensign Industry Co., Ltd.
Website	www.ensignworld.com
Established Time	1997
Headquarter	China
Sales Region	Worldwide
Competitors	TTCA Co., Ltd
Manufacturing Base	China

For more industry information, please refer to our latest released "2023 Global Citric Acid Market Analysis Report, Key Competitors, Market Effect Factors, Growth, And Forecast".