Global Potassium Citrate Market: Market Outlook
Potassium citrate is a tribasic salt of citric acid also known as tripotassium citrate or citric acid potassium salt. It is a white hygroscopic crystalline powder and is easily available in super markets or chemist shops. Moreover it has wide applications in different industries such as food and beverage, pharmaceutical, animal feeds and others. Consumption of potassium citrate has many health benefits associated with it as it contains essential minerals for human body which helps in maintaining body fluid level as well as normal cell function.
Potassium citrate is used as a substitute for sodium nitrate, this can help to boost the market. Excessive consumption of potassium citrate can cause side effects, such as kidney failure and problems related to metabolism. Consumers should be well aware of the safe amount of consumption which is good for their health. This can prove to be one of the restraining factor for potassium citrate market.
Global Potassium Citrate Market: Market Dynamics
Wide application of potassium citrate to drive growth in the market
Due to the wide applications of potassium citrate in different industries, the demand for potassium citrate is expected to increase. Potassium citrate is majorly used in the food and beverage industry as an acidity regulator. It is also used to preserve processed foods such as sugar, syrups, and fish products. Moreover, it is used in alcoholic beverages and dairy-based drinks. The pharmaceutical and personal care industry are some of the key sectors where potassium citrate is used in bulk. Potassium citrate helps to support the healthy functioning of many organs in the human body as well as it supports cardiovascular function. Potassium citrate is GMO-free and can be consumed by vegan consumers. With so many wide applications of potassium citrate, the demand for its products is expected to increase.
Global Potassium Citrate Market: Segmentation
Based on the type, the global potassium nitrate market has been segmented as:
Based on application, the global potassium citrate market has been segmented as:
Based on function, the global potassium citrate market has been segmented as:
Based on the region, the global potassium citrate market has been segmented as:
Global potassium citrate market key players
Some of the major players in the global potassium citrate market are NOW Foods, Nutricost, Superior Labs, Vitamin Shoppe Industries Inc, Jungbunzlauer Suisse AG, Cargill, Incorporated, Teva Pharmaceuticals USA, Inc, Upsher-Smith Laboratories, LLC, Brenntag North America, Inc., Jarrow Formulas, Inc, and others
Global Potassium citrate market: Opportunities
Increased demand for potassium citrate has attracted many key players in the market, domestic players in the market have also become part of this business such as retailers, wholesalers, suppliers, and others. Increased awareness among the consumers about the health benefits of low sodium levels in food products is expected to boost the growth of the potassium citrate market in the processed food industry. Consumption of potassium citrate prevents the risk of heart attack, it also contains a good amount of antioxidants. Potassium citrate is used in the treatment of gout and arrhythmia when patents have less amount of potassium in their blood. With all the added benefits of potassium citrate, there is a good opportunity for the key players in the market to increase its sales and revenue.
Global Potassium Citrate Market: Regional Outlook
The global potassium citrate market is expected to grow with increased health-conscious consumers in regions such as North America and Latin America. European market with the expanding food processing industry is also one of the major consumers for potassium citrate. Developing countries in the Asia Pacific region are also a good target market for key players with the increasing demand. The import and export of potassium citrate adds to the overall revenue generated from potassium citrate market.
COVID 19 impact on global potassium citrate market
The outbreak of COVID 19 has put most of the human population under lockdown in which major business activities has been shut down, it has impacted the economy of the world. Many large and small scale manufactures are facing problems to sell their products. This has also affected the food and beverage industry with supply chain being shut. Awareness among consumers about the nutritional benefits of natural food products has increased, this may increase the demand for such products. With the pharmaceutical sector working at full scale, the market for potassium citrate is expected to be impacted at a low to moderate level for next two to three quarters.