Global Potassium Citrate Market – Overview
Potassium citrate is a potassium salt of citric acid and an effective substitute for sodium citrate, which has its application across diverse set of industries such as pharmaceuticals, food and beverage, personal care, and others. Market Research Future (MRFR) has published a report asserting that the global potassium citrate market is marked to expand steadily at a CAGR of 5% during the forecast period of 2021-2030.
Potassium citrate is a kind of mineral potassium that is used to treat renal tubular acidosis, commonly known as kidney stone condition. Rise in prevalence of renal diseases as a result of changing lifestyle and other medical conditions such as diabetes is inducing high demand for potassium citrate in the pharmaceutical industry in order to develop effective medicines to treat these diseases. Hence, recent developments in pharmaceutical industry are resulting in the expansion of the global potassium citrate market trends. Rise in demand for personal care products and cosmetic products among the urbanized population is also contributing to expansion of the global potassium citrate market. Increasing popularity of ready-to-eat food products is another factor that is driving the expansion of the global potassium citrate market. However, concerns regarding the side effects caused due to high consumption of potassium-based salts are likely to act as restraining factors on the growth of the global potassium citrate market during the forecast period.
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Global Potassium Citrate Market – Prominent Players
Some of the prominent players operating in the global potassium citrate market are Cargill, Incorporated (US), Tate & Lyle Plc (UK), Dr. Paul Lohmann GmbH KG (Germany), Archer Daniels Midland Company (US), Gadot Biochemical Industries Ltd. (Israel), American Tartaric Products Inc (US), and FBC Industries, Inc. (US).
Market Boosters and Barriers
Potassium citrates impressive properties like flavor profile, high solubility rate and hygroscopicity have widened its application range across a number of end-use sectors. The surging use of emulsifiers to achieve higher yield, better shelf life, and softer crumb structure has bolstered the penetration rate of citric product forms. Over the last couple of years, sales of cosmetic products in emerging nations like India, Mexico, and China, have been booming, thanks to the extensive marketing campaigns conducted by the top brands. This has been favorable for the global market since potassium citrate is a chief ingredient in most of the personal care and cosmetic products.
Potassium citrate’s applications in the healthcare industry as an electrolyte replenisher, protein supplement, antacid and excipient should benefit the global market as well. Rising expenditure related to personal healthcare among the burgeoning working individuals has led to higher use of the product in antacids as well as supplements. It also finds extensive use as a diuretic, given its ability to cut down the fluid level within the human body, without compromising the potassium content. Soaring use of diuretics parallel to the escalating cases of edema and congestive heart failure will mean higher demand in the following years.
Vendors are shifting their focus on technical integration during the value chain, which should foster the competitive quotient. Rising deployment of innovative technologies such as drones, Internet of Things (IOT), robotics, blockchain, artificial intelligence and cloud computing is expected to change several aspects of the manufacturing process, for the better. The use of these technologies has increased majorly for bolstering the safety level, fostering efficiency as well as reliability and facilitating accurate monitoring across the supply chain.
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Potassium Citrate Market – Segments:
The potassium citrate industry has been segregated in terms of function as well as application.
The various functions of potassium citrate include emulsifier, acidulant, chelating agent, stabilizer, diuretic, antioxidant, and more.
Major applications listed in the report include pharmaceuticals, food and beverage, household, personal care, and others.
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Potassium Citrate Market – Regional Analysis:
Geographically, the global potassium citrate market has been segmented into five major regions such as North America, Europe, Asia Pacific, Latin America and the Middle East and Africa. The Asia Pacific region commands for the major share of 23% in the global potassium citrate market. Rise in demand for potassium citrate in rapidly expanding food and beverage, and healthcare industry is majorly fueling the growth of the potassium citrate market in the Asia Pacific region. Increasing demand for cosmetics and personal care products as a result of changing lifestyle and rise in disposable income are propelling the growth of the potassium citrate market in the North America region.
Rise in popularity of on-the-go food and ready-to-eat food products are also resulting in the significant expansion of the potassium citrate market in this region. rapid development of cosmetic and personal care industry and expansion of healthcare industry as a result of extensive research and development activities are driving the expansion of the potassium citrate market in the Europe region. Poor economic conditions and lack of primary healthcare facilities in the underdeveloped countries are restraining the growth of the potassium citrate market in the Middle East and Africa region.
Advicenne has received the marketing authorization from the European Commission for ADV7103 (mix of potassium citrate and potassium hydrogen carbonate), which will now be available under the name Sibnayal. This drug is useful in treating distal renal tubular acidosis. In adults with this condition, potassium citrate effectively reduces metabolic acidosis, giving a huge relief to the patients.
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