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Tricalcium Citrate is the most common calcium salt of citric acid which is widely used in pharmaceutical products, nutrition supplement, cleaning agent and many
more. The rise in demand for tricalcium citrate-based products is
driven due to the rising demand for health supplements, food preservatives,
organic salts, antioxidants, emulsifiers, surfactants and others. The rise in
construction activities will raise market growth in the region. For instance, according to
the U.S. Department of Commerce, the U.S. construction spending for June 2022 is
around US$1,784.3 billion and is 10.8% above the June 2021 estimate of US$915.2
billion. Also, the growing healthcare facilities in America will increase the
demand for health supplements and in turn, will raise the Tricalcium Citrate Market growth during the forecast period.
Tricalcium Citrate Market: Leading
Segments
Based on form, the
tricalcium citrate market can be segmented into powder, solid, liquid and
granular and others. Power holds a significant share of the tricalcium citrate segment.
During the forecast period 2022-2027, the powder segment is expected to grow
with a CAGR of 4.9%. Also, based on the end-use industry,
the tricalcium citrate market can be segmented into building &
construction, transportation, agriculture, food & beverages, pharmaceutical, beauty &
personal care, industrial and others. The food & beverages and
pharmaceutical sector hold a significant share of the tricalcium citrate market during
the forecast period 2022-2027. The growth of various segments can be attributed
to various reasons such as the increase in demand for processed food and the growing
demand for nutrition supplement products, cleaning agents and other products globally.
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Tricalcium Citrate Market: By Region
Asia Pacific region dominated the Tricalcium
Citrate Market in terms
of revenue with a share of 43% in 2021 and is
projected to dominate the market at a CAGR of 5.3%
by revenue during the forecast period 2022-2027. The growth is mainly driven
by the growing development in various end-use industries such as construction
buildings, pharmaceuticals, food & beverages in the region driving the
market growth. For instance, the packaged food market of Japan is valued at
US$7 billion in 2021 and is growing with a CAGR of 10% as per the Food Export
Association of the Midwest USA and Food Export USA–Northeast. Thus, such
surging growth related to end-use industries in the region is expected to boost
the demand for tricalcium citrate.
Tricalcium Citrate Market Trends
The rise in the
development of the pharmaceutical sector will raise the demand for nutrition supplements and in turn will raise the tricalcium citrate market. According to the
European Federation of Pharmaceutical Industries Association, North America
accounted for 49.0% of world pharmaceutical sales compared with 23.9% for
Europe and the
Brazilian, Chinese and Indian markets grew by 11.3%, 4.8% and 10.0%
respectively compared to the average market growth of 5.0% in 2020. Thus, the
demand for tricalcium citrate is also simultaneously increasing due to its need
for nutrition supplements and positively impacting the tricalcium citrate
market.
The
Major Players in this Market Include
Technology launches, acquisitions and R&D
activities are key strategies adopted by players in the Tricalcium Citrate
Market. Global Tricalcium Citrate's top 10 players include A. B. Enterprises, Jost
Chemical Co., Jungbunzlauer Suisse AG, Ningxiang Xinyang Chemical Co. Ltd., Showa
Kako Corp., Nikunj Chemicals, Tate & Lyle Biochemical Industries, City
Chemical LLC., Parchem fine & specialty chemical, Asiamerica Group, Inc. among
others.
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