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Tricalcium Citrate Market Overview
The Tricalcium
Citrate Market size is forecasted to reach US$985.3 million by 2027, after growing at a CAGR of 4.1% during 2022-2027. Tricalcium Citrate is the most common calcium salt of citric
acid which is widely used in pharmaceutical products, nutrition
supplement, cleaning
agent and many more. The rise in the production of
tricalcium citrate-based products would raise market growth. As
per International Association for Soaps, Detergents and Maintenance Products, the
household care market was valued at US$32.27 billion in 2020 and has grown with
a year-on-year growth rate of 4.7 % as compared to 2019. Therefore,
the rise in the household products such as soaps, detergents and many more would increase the demand for
tricalcium citrate and, in turn, would boost the Tricalcium Citrate Market size
during the forecast period. However, the global economic downturn caused by the COVID-19
pandemic resulted in a huge drop in demand for tricalcium citrate in
food & beverages, agriculture and other sectors all across the world. This had a significant impact on the growth of the Tricalcium Citrate industry.
Tricalcium Citrate Market Report Coverage
The “Tricalcium
Citrate Market Report – Forecast (2022 - 2027)” by IndustryARC, covers an
in-depth analysis of the following segments in the Tricalcium Citrate industry.
Key Takeaways
- The Asia-Pacific region dominates the Tricalcium Citrate Market share and is expected to grow at a CAGR of 5.3% during the forecast period (2022-2027) owing to the rising demand for Tricalcium Citrate by various manufacturing sectors in various countries such as China, India, Japan and South Korea.
- Growing awareness for health, nutrition
supplements and food safety are some of the major factors driving the
global Tricalcium Citrate industry.
- The increasing demand for processed food in emerging economies is boosting the market growth during the forecast period.
- A detailed analysis of strengths, weaknesses, opportunities and threats would be provided in the Tricalcium Citrate Market report.
Figure: Tricalcium Citrate Market Revenue Share by Region, 2021 (%)
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Tricalcium Citrate Market Segment Analysis – by Grade
The food grade segment held
a significant share of the Tricalcium Citrate
Market in 2021 and is expected to grow at a CAGR of 4.6% during 2022-2027. Tricalcium citrate
plays an important role in the formation of food preservatives which can be
used in condensed and powdered milk, processed cheese, jams, ice cream, gelatin,
nutrition supplements and carbonated beverages. The rise in the growth of the processed food
industry would raise the tricalcium citrate industry growth during the forecast
period. As per Statistics Canada, the food and beverage
processing industry in Canada is the second largest manufacturing industry in
terms of the value of production with sales of goods manufactured worth $117.8
billion in 2019. The
rise in processed food products would raise segmental growth and boost the Tricalcium Citrate Market size during the forecast period.
Tricalcium Citrate Market Segment Analysis – by Application
The Surfactants
segment held a significant share of the Tricalcium Citrate Market in 2021 and is expected to grow at a
CAGR of 5.1% during
2022-2027. Tricalcium citrate is a widely used calcium salt of citric
acid that is needed in the production of surfactants. The surfactants are widely used for surface care, cleaning agent for utensils and household cleanser products. The growing demand for surfactant-based
products would surge the tricalcium citrate industry. According to International Association for
Soaps, Detergents and Maintenance Products, in European Union, surface care
holds 47.1% and dishwashing holds 12.8% of the total market share of the household
care sector in 2020. Therefore, the rise in the demand for household
care products globally is expected to
bolster the requirement for tricalcium citrate which would propel the
growth of the Tricalcium Citrate Market size during the forecast period.
Tricalcium Citrate Market Segment Analysis – by Geography
Asia-Pacific region led the Tricalcium Citrate Market share with 43% in 2021, owing to the rising usage of tricalcium citrate-based products in the treatment of hypercalcemia and hyperkalemia in the pharmaceutical sector. Also, the growing food & beverages industry would boost the demand for food preservatives which, in turn, would raise the market growth. As per China Corporation, China's consumer market for food and beverages generated a revenue of more than US$98 billion with an annual growth of around 15% in 2021. Furthermore, in June 2020, the government of India launched a Pradhan Mantri Formalisation of Micro food Processing Enterprises (PMFME) Scheme. The total fund is valued at INR 10,000 crores (US$1.3 billion) and would be disbursed between 2020 and 2025. Such initiatives and investments from the government for food & beverages and development in various end-use sectors in the APAC countries are anticipated to increase the demand for tricalcium citrate. These are proving to be a market booster for the Tricalcium Citrate Market size in this region during the forecast period.
Tricalcium Citrate Market drivers
Increase in the Demand for Agrochemicals
The demand for agrochemicals made with Tricalcium Citrate to protect the crops from infectious diseases caused by insects and pests
such as bacterial panicle blight and bacterial leaf scorch is expected to drive
the Tricalcium Citrate Market. Moreover, increasing
government initiatives to strengthen the agrochemicals sector is anticipated to
surge the demand for tricalcium citrate. According to the Indian Brand Equity Foundation, the
government plans to introduce production-linked incentives (PLI) scheme to
promote domestic manufacturing of agrochemicals, with an allocation of US$32.2
million to the department of chemicals and petrochemicals in 2021-2022. Thus,
to protect the farm yield, the need to control the damage to farm output and
the increased investments by the government, the demand for agrochemicals would rise. This, in turn, would boost the Tricalcium Citrate Market size.
The growing processed food industry:
Tricalcium Citrate is a calcium salt of citric acid, widely used in the production of food preservatives. The increasing growth of the food and beverage industry
would drive the demand for the Tricalcium Citrate Market. As per the governments of Canada and Ontario, the
governments invested US$6 million in projects to help Ontario food and beverage
processors to increase their competitive edge, adapt to challenges as we move
beyond the pandemic and improve their operations. Thus, with the growth of the
food and beverage sector, the market for Tricalcium Citrate would further rise over the forecast period.
Tricalcium Citrate Market Challenge
Growing health hazards:
Excessive exposure to Tricalcium Citrate can be toxic to human health. It causes skin irritation, eye irritation and respiratory problems. Such factors may hamper the Tricalcium Citrate Market growth during the forecast period. Also, the inhalation of tricalcium citrate may cause irritation and chemical burns to the respiratory tract, nose and throat. Furthermore, the harmful emission of particulate matter during the manufacturing of tricalcium citrate is impacting the environment. The particulate matter affects the aesthetics and utility of areas through visibility reduction and may affect buildings and vegetation. This is restraining the Tricalcium Citrate Market during the forecast period.
Tricalcium Citrate Industry Outlook
Technology launches,
acquisitions and R&D activities are key strategies players adopt in the Tricalcium Citrate Markets. The top 10
companies in the Tricalcium Citrate Market are:
- A. B. Enterprises
- Jost Chemical Co.
- Jungbunzlauer Suisse AG
- Ningxiang Xinyang Chemical Co., Ltd.
- Showa Kako Corp.
- Nikunj Chemicals
- Tate & Lyle Biochemical Industries
- City Chemical LLC.
- Parchem fine & specialty chemicals
- Asiamerica Group, Inc.
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