9 Nov 2018: Global Potassium Citrate Market size is expected to reach USD 868.9 million by 2025. Potassium citrate is a tribasic potassium salt of citric acid with the molecular formula “K3C6H5O7”. It is also known as “tripotassium citrate”. It is a white, hygroscopic crystalline powder. It is odorless with a saline taste. Potassium is an essential mineral which is found in many foods and is needed for the maintenance of total body fluid volume, normal cell function, and acid & electrolyte balance. The potassium citrate market is expected to witness a 3.7% CAGR in the years to come. Potassium citrate is used to treat a kidney stone condition called “renal tubular acidosis”. Also, it is used as an alkalizing agent in the treatment of mild urinary tract infections such as cystitis. It acts as a cleansing agent in various other industries. Potassium citrate is used in baby products, bath products, make-up, detergents & soaps, hair & skin care products and hair dyes & colors.
Potassium citrate is used in various industries such as food & beverage, pharmaceutical, personal care and others. The “food & beverage” industry is expected to hold the largest market share in the upcoming period due to growing M&A activities and emergence of new economies in the sector. Moreover, growing purchasing power in developing nations such as India, Indonesia, Brazil, Thailand, and China are expected to boost the market growth in the next couple of years. Also, potassium citrate is used as an acid regulator, buffering agent and preservative in various products including baby food, dairy, infant formula, snacks, cereals, dessert, ice cream and carbonated soft drinks. Functions such as emulsification, acidification, and others could be explored in potassium citrate industry.
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The “emulsifier” segment is projected to grow at a high CAGR in the upcoming period owing to the increasing utilization of emulsifiers in several food products including creamy sauce, margarine, candy, mayonnaise, confectionery & baked goods and packaged processed foods. Emulsifiers perform various functions such as potassium fortification, treatment of kidney stones & bladder infection and as a sequestering agent. The factors that play an important role in the growth of market include increasing demand, growing population, increasing urbanization & industrialization, increasing buyer demand for non-GMO potassium citrate products, growing demand from end use industries for sodium citrate, increasing awareness about benefits of low sodium levels in food and growing foods & beverages industry.
Moreover, the increasing demand for potassium citrate due to its superior properties such as high chemical & microbiological stability, high water solubility and outstanding biodegradability is expected to propel market growth in the coming years. However, risk and side effects of potassium citrate used in food & other products is negatively impacting the growth of potassium citrate industry. The market is widely analyzed based on different regional factors such as gross domestic product (GDP), demographics, acceptance, inflation rate and others. The market is categorized based on product type, function, application and geography. The market is classified into product type such as monohydrate, anhydrous and others.
Asia Pacific is dominating the large market share in the next couple of years due to growing usage of cosmetic products such as makeup, sunscreens, lotions & cream among the younger population in India and China. Moreover, growing demand for potassium citrate due to its properties such as pH buffering, potassium fortification, enhancement of stability & complexity and ability to act as a systemic alkalizer in pet food and feed are expected to boost the market growth in this region.
The key players contributing to the robust development of the potassium citrate market include Gadot Biochemical Industries Ltd., Evonik Industries AG, BASF SE, Archer Daniels Midland Company, Baker Hughes Incorporated, FBC Industries Inc., Cargill Incorporated., The International Group Inc., American Tartaric Products Inc., Jungbunzlauer Company, Foodchem International Corporation and Tate & Lyle. These market players are focusing on inorganic growth to sustain themselves amidst fierce competition. As such, mergers, acquisitions, and joint ventures are the need of the hour.
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