Increasing demand for cleaning agents to stimulate the production sales of citric acid across the globe. Growing health concerns have been stimulating the need of consumers for products that are made up of natural ingredients as well as plants. There has been increase in the usage of citric acid as a cleaning agent across the globe due to phosphate ban is several regions. Increasing usage in food and beverage sector has been driving the growth of the citric acid market on a larger basis. However, over consumption of citric acid has been leading to increased sweating, vomiting, and loss of appetite, stomach cramps and diarrhea. Growing inclination towards low calorie drinks has been restraining the demand for citric acid and related flavored drinks across the globe.
A recent study predicts that the citric acid market will develop at a moderate CAGR of 4.6%, over the estimated period, 2016-2026, in order to reach an evaluation of nearly US$ 4,494.8Mn by 2026-end. Companies namely RZBC GROUP, Cargill, Incorporated, Jungbunzlauer Suisse AG, Basel, Tate & Lyle plc., Shandong Juxian Hongde Citric Acid Co. Ltd., COFCO Biochemical (AnHui) Co. Ltd. and Delek Group among others are expected to experience a rapid growth worldwide. Manufacturers as well as leading players are preparing to completely concentrate on developing plans related to the citric acid market, such as product efficiency, innovations and advancements along with substantial development in their product lines.
Delek Group Sells Its Gadot Biochemical Industries Ltd.
Key players and manufacturers must note that recently Delek Group sold its Gadot Biochemical Industries Ltd. due to significant loss caused due to this firm. But the notable point is that, the company as no plan to sell the land, which is located in Haifa Bay near Kishon River. The Gadot Biochemicals has been sold by Delek Group to Fortissimo fund for nearly $11 million. The completion of this deal is likely to take place in less than two weeks’ time, soon after catering to all stringent conditions, which is inclusive of attaining the regulatory approval.
Well, the main reason behind this sale is that Gadot Biochemical Industries Ltd. has been a small part of Delek Group, which has run the company into heavy cumulative losses. The loss turnover is expected to surpass 100Mn shekels. Key players and manufacturers can think of acquiring and making heavy investments in the Gadot Biochemical Industries Ltd., which has marketing plans and produces citric acid salts and lemon citric acid, which is utilized for the purpose of detergents, drugs and food industry on a larger basis. Apart from this, Gadot Biochemical Industries Ltd. also sells and markets fructose, which has been utilized as a premium sweetener and a sugar substitute.
Jungbunzlauer Suisse AG Partners with Green Biologics
Jungbunzlauer Suisse AG has plans to partner with Green Biologics for the purpose of developing bio-based plasticizers. Key players and manufacturers must note that Jungbunzlauer Suisse AG has aced with regards to sustainability. Green Biologics had recently mentioned about the development of its start-up, which is the first commercial manufacturing facility, for the purpose of renewable acetone and n-butanol. There will be a bulk of export shipment to the Jungbunzlauer Suisse AG by the beginning of forthcoming year.
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