Sodium citrate is extracted from natural sources and thus, it is a natural ingredient. The growth of the vegan population and the increasing demand for vegan skin care products along with the vegan food ingredients will propel the market during the forecast period. Moreover, veganism is not only restricted to consuming vegan food, but it has also expanded in daily used products such as cosmetics, personal care and clothing.
The sodium citrate market was valued at $813.60 million in 2021, and is estimated to reach $1.2 billion by 2031, growing at a CAGR of 4.1% from 2022 to 2031. The trisodium citrate segment dominated the market in 2021, with more than half a share, in terms of revenue.
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Sodium citrate is the sodium salt of citric acid, a weak organic acid found in plants and animals, most notably citrus fruits. Citric acid, in fact, is what gives citrus fruits their characteristic acidic flavor. Sodium citrate is a plant-based ingredient. It is typically synthesized or derived from plant-based sources.
Sodium citrate is primarily used in the food & beverage industries. According to Allied Market Research, the global food & beverage industry is growing at a 5% annual rate. High demand for food & beverage products of consumers necessitated the development of new products. This has also resulted in high demand for products with a longer shelf life. Change in demographics, rise in disposable income, rapid urbanization, and the expansion of the retail industry all contribute to the expansion of the food & beverage industry. According to AMR research, the global e-commerce food & beverage market is worth $ 440 billion and is expected to grow to $860 billion by 2025. Thus, the growth of the food and beverage industry is one of the major sodium citrate market trends.
Sodium citrate is also widely used in the pharmaceutical industry. It is used to regulate pH. It has the ability to act as an alkalizing, buffering, emulsifying, and sequestering agent. According to the US Food and Drug Administration (FDA) Select Committee on Generally Recognized as Safe, citrate salts, including sodium citrate, are generally regarded as safe when used in normal quantities. It works by eliminating excess acid from the blood and urine. It is also authorized to treat metabolic acidosis. The global pharmaceutical industry was valued at $1.42 trillion in 2021, according to AMR analysis. The high product use and growth of end-use industries such as pharmaceuticals are anticipated to propel the sodium citrate market demand.
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Sodium citrate is primarily used as a buffering agent in cosmetics and skin care products to control the pH level, but it can also be used as a preservative. It is critical to maintain the normal pH of the skin as closely as possible, by balancing the pH of cosmetics and skincare products. Cosmetic manufacturers can adjust the pH of their formulations with ingredients such as sodium citrate, resulting in a more skin-friendly product. Sodium citrate is derived from plants. It is commonly synthesized or derived from plant sources. Thus, the use of products as one of the ingredient in cosmetics will create sodium citrate market opportunity during the forecast period.
The rise in demand for vegan cosmetics is likely to open up a new market for sodium citrate producers. According to AMR analysis, the global market for vegan cosmetics is expected to be worth $16.6 billion in 2021 and $28.5 billion by 2031. The skincare segment is the most popular and is expected to grow at a CAGR of 5.2%. Concerns about environmental degradation, as well as increased awareness of animal cruelty, drive the growth of veganism. Veganism is a lifestyle choice that includes clothing and beauty products as well as food. Customer demand for plant-based personal care products is also contributing to market expansion. New formulations in skincare, personal care, fragrance, and makeup have emerged because of the growing popularity of clean, vegan, and cruelty-free beauty products, which will flourish the sodium citrate market growth.
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According to the sodium citrate market analysis, the market is segmented on the basis of type, application, and region. On the basis of type, the market is segmented into monosodium citrate, disodium citrate, and trisodium citrate. On the basis of application, the market is classified into food & beverages, pharmaceuticals, cosmetics, soaps and detergents, and others. The food & beverage sub-segment is further divided into beverages, dairy, meat and fish, jams, jellies, and preserves, and others. On the basis of, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key companies profiled in sodium citrate industry are the Archer-Daniels-Midland Company, Wang Pharmaceuticals and Chemicals, FBC Industries, Inc, Hunan Dongting Citric Acid Chemicals Co.Ltd, Jiangsu Mupro IFT Corp., Cargill Incorporated, Natural Biological Group Co. Ltd., Citribel NV, Huangshi Xinghua Biochemical Co. Ltd., Pan Chem Corporation, Gadot Biochemical Industries Ltd., Jungbunzlauer Suisse AG, Laiwu Taihe Biochemistry Co. Ltd., Fuso Chemical Co. Ltd., and ATPGroup.
Key findings of the study
- The sodium citrate industry was valued at $813 million in 2021 and sodium citrate market size is estimated to reach around $1.2 billion by 2031, registering a CAGR of 4.1% from 2022 to 2031.
- On the basis of type, the monosodium citrate segment is estimated to witness significant growth, registering a CAGR of 4.57% during the forecast period.
- On the basis of application, the soaps and detergents segment is estimated to witness significant growth, registering a CAGR of 4.63% during the forecast period.
- On the basis of region, Asia-Pacific was the dominant region in 2021, occupying a major sodium citrate market share.
- On the basis of region, Asia-Pacific registered the highest growth rate and is expected to grow at a CAGR of 4.49% during sodium citrate market forecast period.
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