Indonesia’s Rapidly Growing Pharmaceutical Industry to Drive Asia-Pacific’s Citric Acid Anhydrous Market Growth

Introduction

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.

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.

Competitive Players

1. Archer Daniels Midland 
2. Gadot Biochemical Industries 
3. Citrique Belge 
4. Foodchem International Corporation 
5. American Tartaric Products 
6. Jungbunzlauer Suisse AG 
7. Huangshi Xinghua Biochemical 
8. COFCO Biochemical 
9. Thai Anhydrous Citric Acid 
10. Cargill, Weifang Ensign Industry Co., Ltd. 
11. RZBC Group 
12. Rizhao Jinsui Trade Co., Ltd. 
13. Laiwu Taihe Biochemistry Co., Ltd. 
14. Rizhao Ruisite International Trade Co., Ltd. 
15. Shanghai Billion Chemical Chemical Co. Ltd. 
16. Jiangsu Guoxin Xielian Energy Co., Ltd. 
17. Gansu Jinbao Industry Co., Ltd. 
18. Alfa Aesar 
19. Cater Chemicals Corp. 
20. Barker Industries 
21. Wintersun Chemical 
22. Bruchem, Inc. 
23. Gojira Fine Chemicals, TTCA Co., Ltd 
24. FoodChem Corporation
25. ‎Penta Manufacturing Company 
26. Univar Chemicals (Shanghai) Co., Ltd.

Recent Developments

Recent Developments

• June 2024- Cargill introduced a new sustainability program to reduce the carbon footprint of its citric acid production processes. The program includes adopting renewable energy sources and more efficient manufacturing techniques.
• April 2024- ADM launched a new line of citric acid-based natural preservatives targeting the organic food sector in North America. This new product line is part of their strategy to cater to the rising demand for clean-label ingredients.
• March 2024- Cargill completed the expansion of its production facilities in China, enhancing its capacity to produce citric acid anhydrous. This move is in response to the growing demand in the Asia-Pacific region and aims to strengthen its supply chain. 

Segmentation

1. By Function
   
   1. Antioxidant
   2. Acidulant
   3. Emulsifier
   4. Preservative
   5. Sequestrant
2. By Application
   
   1. Food and Beverage
   2. Pharmaceuticals
   3. Nutraceutical
   4. Cosmetics and Personal Care