Preliminary research of Fairfield Market Research indicates a promising growth outlook for global potassium citrate market during the course of next few years.
A Wide Application Base Continues to Drive Global Potassium Citrate Market Ahead
Among the key reasons primarily driving the expansion of potassium citrate market is the growing usage of potassium citrate as an alternative to sodium citrate across several industrial verticals, such as pharmaceutical, cosmetics, and food and beverages. The China Chain Store & Franchise Association estimates that the country's food and beverages industry grew by US$595 Bn in 2019—a 7.8% increase from 2018. This is further reinforced by the growing consumer desire for a balanced diet and more health awareness regarding the rising prevalence of cardiac problems brought on by the excessive use of sodium. Accordingly, a further factor driving growth is the product's widespread use as an emulsifying agent to achieve a soft crumb structure and lengthen the shelf-life of various baked and confectionery goods.
Additionally, the potassium citrate market is expanding on the back of increasing investments made by governments of different nations in R&D activities for introducing diuretics as a clinical treatment to reduce fluid levels in the human body without losing potassium. Potassium citrate is an antiacid, excipient, protein supplement, replenisher of electrolytes, and excipient, promoting its widespread usage in the healthcare industry. A positive outlook for the market is also being created by strategic alliances between the major players for the introduction of cutting-edge, potassium-nitrate-infused personal care products to expand their current brand portfolios.
Potassium Citrate Market: COVID-19 Impact
The COVID-19 pandemic outbreak has significantly impacted global potassium citrate demand. One of the industries with very few negative effects from COVID-19 is the pharmaceutical sector. Despite having a very broad range of uses in medications for calculi, the potassium citrate market only grew slowly. The demand for outside food and drink has significantly decreased due to the pandemic's impact on the world economy. The demand for potassium citrate has sharply decreased as a result. China is also the biggest producer and exporter of potassium citrate. Due to border closures caused by the lockdown, the market for potassium citrate experienced a significant decline.
Increasing Demand for Foods With Low Sodium Citrate Content to Foster Potassium Citrate Market Expansion
Sodium citrate is typically replaced with potassium citrate, which works just as well. Foods that need less sodium are prepared with potassium citrate. High salt intake increases the risk of heart attacks. The recommended daily sodium intake is 1,500 milligrams, but Americans typically consume over 3,400 daily, about double the recommended amount. The health problems from sodium can be avoided by including potassium in your diet. Consumers worldwide are switching to healthier diets, so they prefer healthier products, encouraging manufacturers to use healthier additives like potassium citrate. In an oral rehydration solution, potassium chloride, and sodium bicarbonate can be substituted with potassium citrate salt.
Rising Demand from Personal Care and Cosmetics Industry to Expedite Potassium Citrate Market Expansion
Various cosmetic products, including soap, dyes, oral products, baby products, hair products, skin products, and others, use potassium citrate, the potassium salt of citric acid, as a skin-conditioning ingredient. By bonding metals and adjusting the acid/base balance, potassium citrate also aids in the natural preservation of cosmetics and personal care products. Accordingly, it is predicted that expanding the cosmetics sector will open up opportunities for the potassium citrate market. A personal care association called Cosmetic Europe reports that China's cosmetics market grew by 15.33% in 2019 to reach euro 54.9 billion (US$61.45 Bn), up from euro 47.6 billion (US$56.21 Bn) in 2018. In addition, the cosmetic industry is growing in other Asian nations like India, and Japan. Cosmetic Europe, a trade group for personal care products, estimates that the Indian cosmetics market grew by euro 12 billion (US$13.43 Bn) in 2019 as opposed to euro 10.7 billion (US$12.63 Bn) in 2018. In addition, the U.S. cosmetics market increased by 3.95% in 2019 from euro 67.2 billion (US$79.36 Bn) to euro 73.7 billion (US$82.50 Bn). As a result, the demand for potassium citrate as a cosmetic astringent is expected to increase due to the growing cosmetic industry.
Potential Adverse Impact on Health to Limit Potassium Citrate Market Growth
The potassium salt of citric acid, potassium citrate, can cause several health problems, including black stools, confusion, dizziness, chest pain, irregular heartbeat, high blood pressure, stomach pain, difficulty swallowing, unusual weakness, and others. Additionally, problems with rapid weight gain, unusually cold skin, and tingling in the hands and feet are brought on by high potassium levels in the blood. Additionally, it damages tissue, which might prevent the market from expanding.
Emulsifier Category to Dominate Potassium Citrate Market with Increasing Use in Bakery and Confectionery Industry
Based on function, the potassium citrate market is segmented into acidulants, emulsifiers, stabilizers, antioxidants and others. The emulsifier category held the largest market share in 2021 and is anticipated to increase significantly over the next several years. Due to its use in various food products such as margarine, creamy sauce, mayonnaise, sweets, packaged processed meals, confectionery, and baked goods, the market is expected to rise. The increased consumption of sausages in the region is predicted to increase demand for emulsifiers in processed meat, which will benefit the European industry. To bind together essential sausage ingredients like meat proteins, water, and fat, reliable emulsification is necessary. In clinical medicine, potassium citrate is used as a diuretic to lessen the quantity of fluid in people's blood vessels. The goal of doing this is to lower blood pressure. The market is therefore anticipated to grow due to the increased need for diuretics to treat renal tubular acidosis and reduce urine acidity.
Food and Beverages Segment Leads Potassium Citrate Market, Application Soars in Paints and Coatings Industry
Based on end users, the potassium citrate market is segmented into food and beverages, pharmaceuticals, personal care, and others. The food and beverages category dominated the market over the forecast period. The food and beverage industry uses potassium citrate, a potassium salt of citric acid, as a food additive. A buffer to control pH levels (between 7.5 and 9) in an alkaline state can block the activity of some enzymes and extend the shelf life of food by using potassium citrate. Additionally, potassium citrate is a flavoring additive that gives foods and drinks a balanced flavor by adding a sour taste, and reducing acidity. As a result, potassium citrate is needed as a food additive for processing, where the market is expected to expand. The processed food market was valued at US$263 Bn in 2019–20, and it grow to US$470 Bn by 2025, according to the India Brand Equity Foundation (IBEF). As a result, it is predicted that the growing food industry will increase potassium citrate consumption.
Asia Pacific to Dominate market due to Export of Potassium Citrate in Various Regions
Over the forecast period, it is anticipated that the Asia Pacific potassium citrate market will account for the largest revenue share. Potassium citrate is mostly produced and exported by China in the region. The majority of China's exports of potassium citrate go to the United States. Compared to other regions, this region has an extremely high export rate. Due to the lower production costs of potassium citrate in the area, manufacturers can offer their products at low prices as a competitive advantage. Due to the compound's wide range of features, including its capacity to serve as a preservative, emulsifier, and other things, the food, and beverage industry had the lion's share of the potassium citrate market in the Asia Pacific region. One major element in the region's use of potassium citrate is the lack of standardization regarding the use of food additives.
The North American potassium citrate market is anticipated to experience stable revenue growth throughout the forecast period, mostly due to the increased consumer demand, particularly in the United States, for various skin care products like peels, creams, and face masks. Additionally, The NPD Group, Inc. reports that the US prestige beauty market reached US$18.8 Bn in 2018, up 6% from the year before. The main drivers of market expansion are the existence of developed end-use industries and the expanding use of potassium citrate. The region's growing demand for processed meats and on-the-go items propels market expansion. Additionally, the expanding food, beverage, and healthcare sectors produce sizable amounts of money.
Global Potassium Citrate Market: Competitive Landscape
In February 2021, Europe's ADV7103 (potassium citrate/potassium hydrogen carbonate) recently received a favorable scientific outlook, according to a business update from Parisian biotech Advicenne. Distal renal tubular acidosis is a rare genetic condition that impairs the kidneys' capacity to eliminate acid from the blood, and Advicenne is working on a treatment for it (dRTA). Similarly, in November 2020, the Israeli company Gadot Biochemical Industries has just finished building a production process to provide superior grades of tri-potassium citrate (TPC) and tri-sodium citrate (TSC), enabling clients to comply with the strict chlorate content regulations of Regulation for infant food.
A few of the players in the potassium citrate market include Archer-Daniels-Midland Company, ATPGroup, Cargill Incorporated, Dr. Paul Lohmann GmbH & Co. KGaA, FBC Industries, Foodchem International Corporation, Gadot Biochemical Industries Ltd., Huangshi Xinghua Biochemical Co. Ltd., Jiangsu Mupro IFT Corp., Jungbunzlauer Suisse AG, Niran BioChemical Limited, RZBC Group Co. Ltd., and Tate & Lyle PLC.
Regional Classification of Global Potassium Citrate Market Can be Given as Below:
Middle East and Africa
*Regions and countries are subject to change based on data availability.
Key Elements Included In The Study: Global Potassium Citrate Market
Post Sale Support, Research Updates & Offerings
We value the trust shown by our customers in Fairfield Market Research. We support our clients through our post sale support, research updates and offerings.
Under uncertainty, traditional approaches to strategic planning can be downright dangerous. True ambiguity is no basis to forecast the future – degree of risk, the magnitude of circumstances, conditions and consequences are not known or unpredictable. To avoid dangerous binary views of uncertainty; strategic posture, moves and actions through market research is the best bet.Read more