Potassium Citrate Market Size, Share & Trends Analysis Report By Function (Acidulant, Emulsifier, Diuretic), By Application (F&B, Pharmaceuticals, Personal Care & Household), And Segment Forecasts, 2018 - 2025

Industry Insights

The global potassium citrate market size was valued at USD 629.2 million in 2016 and is expected to foresee growth at a revenue-based CAGR of 3.7% from 2017 to 2025. The product exhibits superior properties such as hygroscopicity, flavor profile, and high solubility rate. Rising importance of emulsifier fortification for achieving high yield, enhanced shelf life, and soft crumb structure has driven the penetration of citric product forms.

Over the past few years, demand for cosmetic products in developing countries such as India, China, and Mexico has been witnessing a significant rise thanks to extensive and effective brand campaigns by major personal care companies. Since potassium citrate is a key ingredient in cosmetics and personal care products, this has been a major growth-driving factor.

Potassium citrate finds application in the healthcare sector as an electrolyte replenisher, excipient, protein supplement, and antacid. Rising spending on personal healthcare among working professionals is expected to promote market penetration in supplements and antacids. It is also used as a diuretic in clinical medicine as it reduces fluid level in the human body without the loss of potassium. Demand for diuretics is anticipated to witness high growth on account of growing incidence of conditions such as congestive heart failure and edema.

Raw materials used for the production of potassium citrate, including potassium carbonate and citric acid, are known for their properties such as buffered alkalinity and high solubility in water. For instance, citric acid is used as a key ingredient in food and beverage, personal care, cleaners and detergents, and healthcare industries. As demand for these raw materials rises in other associated industries, manufacturers of potassium citrate are likely to face a major roadblock.

Function Insights

Emulsifier emerged as the leading segment by function in 2016, accounting for 20.2% of the global potassium citrate volume. The segment is poised for growth as a result of its utilization in several food products including margarine, creamy sauce, mayonnaise, candy, packaged processed foods, and confectionery and baked goods.

Demand for emulsifiers in processed meat is anticipated to boost the Europe market on account of growing consumption of sausages in the region. Key sausage components such as meat proteins, water, and fat require stable emulsification to be bound together.

Potassium citrate is used as a diuretic in clinical medicine for reducing the amount of fluid in blood vessels in humans. This is done to lower the blood pressure. Therefore, rising demand for diuretics to make urine less acidic and treat renal tubular acidosis is projected to augment the potassium citrate market.

Application Insights

The food and beverage segment was valued at USD 457.1 million in 2016 and is projected to witness high gains on account of emergence of new economies and growing M&A activities in the sector. Furthermore, rising purchasing power in developing nations such as India, Brazil, China, Indonesia, and Thailand is expected to increase demand for food & beverages, thereby fueling demand for potassium citrate.  Potassium citrate is used as an acid regulator, preservative, and buffering agent in various segments including baby food, infant formula, dairy, cereals, snacks, dessert, ice cream, and carbonated soft drinks. Instant beverages are also expected to fuel the demand for potassium citrate, which is used as a fizzing and foaming agent.

Personal care and household industries are using potassium citrate owing to its ability to adjust pH and chelating of metal ions. Potassium citrate acts as an emulsifying salt and offers enhanced stability and complexity to products. It is used in products such as eyebrow pencils, lipsticks, and creams. It also finds application in several oral care products for improving sensitivity to pain.

Regional Insights

Asia Pacific is expected to register substantial revenue gains, exhibiting a CAGR of 4.2% from 2017 to 2025. Growing demand for potassium citrate can be attributed to its properties such as potassium fortification, pH buffering, enhancement of stability and/or complexity, and ability to act as a systemic alkalizer in feed and pet food industry.

China is a major manufacturing destination for potassium citrate, with companies such as Foodchem International Corporation, Huangshi Xinghua Biochemical, RZBC Group Co., Ltd., and Jiangsu Mupro IFT Corporation enjoying a strong presence in the country. The growth of detergents, agrochemicals, fertilizers, metal surface treatment, cosmetics, and pharmaceuticals in China is also expected to have a positive impact on the APAC market.

North America accounted for 22.8% of the overall volume in 2016 and is expected to witness significant gains over the forecast period. The cosmetics application is expected to augment the consumption of potassium citrate in the U.S. owing to increasing consumer demand for various skincare products such as peels, creams, and face masks. Growing use of antiaging products is projected to fuel demand over the coming years.

Potassium Citrate Market Share Insights

The global market comprises prominent and well-established players, especially in U.S., Israel, Germany, China, and U.K. Numerous participants, including Gadot Biochemical Industries, Ltd.; Archer Daniels Midland Company; BASF SE; The International Group, Inc.; Baker Hughes Incorporated; and Evonik Industries AG, dominate the industry.

The market is highly fragmented in nature and is characterized by intense competition. Factors such as product innovation and threat of backward and forward integration by market players to distribute potassium citrate are expected to intensify industry rivalry over the coming years. Likelihood of new entrants in the industry is further anticipated to strengthen competition.

In March 2013, Jungbunzlauer Suisse AG was entitled a CEP certificate by the European Directorate for the Quality of Medicines (EDQM). The Certificate of Suitability to the monographs of the European Pharmacopeia (CEP) was issued to the company’s Active Pharmaceutical Ingredient (API) product, also known as tripotassium citrate. This certificate is second in line of accreditation after the U.S. FDA Drug Master File. In March 2017, Foodchem International Corporation’s trademark registration was approved by the State Administration For Industry & Commerce (SAIC) of P.R.C.

Report Scope

Segments Covered in the Report:

This report forecasts volume and revenue growth at global, regional, and country levels, and provides an analysis on the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global potassium citrate market report on the basis of function, application, and region:

• Function Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)

  • Acidulant

  • Emulsifier

  • Diuretic

  • Others

• Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)

  • Food & Beverage

  • Pharmaceutical

  • Personal Care & Household

  • Others

• Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)

  • North America

    • The U.S.

  • Europe

    • Germany

    • France

  • Asia Pacific

    • China

    • India

  • Central and South America

    • Brazil

  • Middle East and Africa