The latest market report published by Credence Research, Inc. “Global Tripotassium Citrate Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028”. The Global Tripotassium Citrate Market generated revenue of around USD 746.35 million in 2021 and is anticipated to grow a CAGR of over 3.87% during the forecast period from 2022 to 2028 to reach around USD 984.45 million in 2028. While, cumulative growth opportunity presented by the global Tripotassium Citrate is around USD 6.17 billion during 2022 to 2028.
Global Tripotassium Citrate Market, 2021 – 2028 (USD Million)
Potassium salt of citric acid is called as Tripotassium Citrate. Tripotassium Citrate is a white crystalline powder and hygroscopic in nature. It tastes like saline and have no odor. Tripotassium Citrate contains around 38% potassium by mass. Tripotassium Citrate is available in two types such a monohydrate and anhydrate. Tripotassium Citrate is increasingly being used as a substitute for sodium citrate. Tripotassium Citrate is primarily used to control acidity and supplement sources of potassium. Tripotassium Citrate Monohydrate and Tripotassium Citrate Anhydrate are two major types of Tripotassium Citrate. Tripotassium Citrate Monohydrate held over 80% share in 2021. While, Tripotassium Citrate Anhydrate is expected to advance at a rapid pace over the forecast period.
Russia – Ukraine War Impact on Global Tripotassium Citrate Market
War between Russia and Ukraine will have negligible impact on global Tripotassium Citrate market except logistical hurdles in certain regions and price rise due to rising commodity prices. China and other Asian countries dominate production as well as consumption of Tripotassium Citrate. Hence there will be little impact on production and supply except the regions affected by war like situation. However, as the ongoing war has triggered the oil & gas prices, the transportation of raw materials as well as final products will incur additional cost, which may reflect into increased price.
Increasing Demand for Tripotassium Citrate in Technical Application
Acidulant, Emulsifier, Diuretic, Stabilizer, Chelating and Antioxidant are major functional segments of Tripotassium Citrate. Tripotassium Citrate is increasingly being used in technical applications as a functional agent in various food & beverage as well as pharmaceutical applications. Tripotassium Citrate is growing in adoption as an alternative to citric acid. For instance, Tripotassium Citrate is used an emulsifier, as an acidity regulator, as an antioxidant, as a buffering agent, etc. in food & beverage industry, While, it is used as Diuretic agent and Stabilizer in various medicinal applications. Acidity regulators and emulsifier applications held over 25% share collectively in 2021. While, diuretic functional segment is likely to grow at a rapid pace over the forecast period.
Food and Beverage to Exhibit Rapid CAGR
Food and Beverage, Pharmaceuticals, Personal Care and Household, etc. are major application markets for Tripotassium Citrate. Tripotassium Citrate demand in pharmaceutical industry accounted for over 40% share in 2021. While, food & beverage segment anticipated to exhibit rapid CAGR over the forecast period. Tripotassium Citrate find applications in food & beverage industry including as an emulsifier, as an acidity regulator, as an antioxidant, etc.
Key players operating in the global Tripotassium Citrate marke include, ADM, Atpgroup, Cargill, FBC Industries, Gadot Biochemical Industries, Hunan Dongting Citric Acid Chemical, Jungbunzlauer Company, Lohmann, Natural Biological Group, RZBC, Shuren Kechuang (Lianyungang) and Tate & Lyle.
Global Tripotassium Citrate Market by Type, 2016 – 2028
- Tripotassium Citrate Monohydrate
- Tripotassium Citrate Anhydrate
Global Tripotassium Citrate Market by Function, 2016 – 2028
Global Tripotassium Citrate Market by End-user, 2016 – 2028
- Food and Beverage
- Personal Care
Global Tripotassium Citrate Market by Company, 2016 – 2028
- FBC Industries
- Gadot Biochemical Industries
- Hunan Dongting Citric Acid Chemical
- Jungbunzlauer Company
- Natural Biological Group
- Shuren Kechuang (Lianyungang)
- Tate & Lyle