Indonesia's Rapidly Growing Pharmaceutical Industry To Drive Asia-Pacific's Citric Acid Anhydrous Market Growth

(MENAFN- Straits Research) Apart from the largest economies, such as the U.S. and China, emerging economies from Latin America and Asia-Pacific, including Brazil, India, Indonesia, and Thailand, among others, are expected to witness substantial growth opportunities for the citric acid anhydrous market. The rapid pace of urbanization and industrialization in these countries has led to the growing disposable income. In addition to that, booming e-commerce in these countries has fueled the consumption of packaged food and cosmetics products, which ultimately creates the opportunity for the citric acid anhydrous market.
In particular, Indonesia is likely to be among the fastest-growing citric acid anhydrous market at the country level, owing to the rapidly growing end-user industries, including cosmetics and personal care, and pharmaceutical. The investment portfolio of Indonesia has been growing at a rapid pace since the last few years, attracting both domestic and international players across the industries. Indonesian pharmaceutical industry is growing with a CAGR of more than 10% for the last five years. Simultaneously, rising consumption of citric acid anhydrous as an ingredient, blood anticoagulant, diuretic, and flavoring agent in various pharmaceuticals is projected to stimulate market growth. Brazil and India have been among the fastest-growing and largest markets for citric acid anhydrous in their respective regional market.

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COVID-19 Impact on the Citric Acid Anhydrous Market
The widespread global pandemic has impacted almost every industry, and citric acid anhydrous is not an expectation. China, the country where the virus was originated, is under lockdown for nearly two months. China being the largest producer of citric acid anhydrous, the disruption in business operation in the country severely affects the global supply chain. The U.S., Brazil, and India are among the essential markets of citric acid anhydrous and are severely impacted by COVID-19, which is likely to disturb the growth of the citric acid anhydrous market. However, most of the countries have relaxed the stringent measurers pertaining to lockdown and allowed business operations, which is likely to rectify the disrupted supply chain soon.
Key Players

Archer Daniels Midland
Gadot Biochemical Industries
Citrique Belge
Foodchem International Corporation
American Tartaric Products
Jungbunzlauer Suisse AG
Huangshi Xinghua Biochemical
COFCO Biochemical
Thai Anhydrous Citric Acid
Cargill, Weifang Ensign Industry Co., Ltd.
RZBC Group
Rizhao Jinsui Trade Co., Ltd.
Laiwu Taihe Biochemistry Co., Ltd.
Rizhao Ruisite International Trade Co., Ltd.
Shanghai Billion Chemical Chemical Co. Ltd.
Jiangsu Guoxin Xielian Energy Co., Ltd.
Gansu Jinbao Industry Co., Ltd.
Alfa Aesar
Cater Chemicals Corp.
Barker Industries
Wintersun Chemical
Bruchem, Inc.
Gojira Fine Chemicals, TTCA Co., Ltd
FoodChem Corporation‎
Penta Manufacturing Company
Univar Chemicals (Shanghai) Co., Ltd.

Citric Acid Anhydrous Market: Segmentation
By Function

Antioxidant
Acidulant
Emulsifier
Preservative
Sequestrant

By Application

Food and Beverage
Pharmaceuticals
Nutraceutical
Cosmetics and Personal Care

By Region
North America

The U.S.
Canada
Mexico

Europe

Germany
France
The U.K.
Italy
Spain
The Netherlands
Russia
The Rest of Europe

Asia-Pacific

China
Japan
India
South Korea
Australia
Indonesia
Malaysia
Singapore
Vietnam
The Rest of Europe

Central and South America and the Caribbean

Brazil
Argentina
Colombia
The Rest of Central and South America and the Caribbean

The Middle East

Saudi Arabia
The UAE
Oman
Bahrain
The Rest of the Middle East

Africa

Nigeria
South Africa
Ghana
Tanzania
The Rest of Africa


" Crucial Insights The Report Provides:"
* Known and Unknown Adjacencies Influencing the Growth of Market
* Explorable Revenue Sources
* Customer Behaviour Analysis
* Target Partners
* Customized Geographical Data Based on Customers as well as Competitors
* Analysis of Market Size and CAGR between the Forecast Periods

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