Ammonium Ferric Citrate Market Size, Share, Growth, and Industry Analysis, By Type (Reagent Grade, Food Grade and Others), By Application (Water Purification, Food Additive and Others), Regional Forecast To 2031

Updated On: 15 April 2024

Ammonium Ferric Citrate Market Report Overview

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The global ammonium ferric citrate market size was USD 23930 million in 2022 and is projected to touch USD 44003.5 million by 2031, exhibiting a CAGR 7% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels once the pandemic is over.

Ammonium ferric citrate is also known as, ammonium iron citrate. It is a chemical compound that is commonly used as a food additive, a reagent in analytical chemistry, and as a laboratory reagent. It controls and regulate acidity. Unlike ferric citrate, this compound is highly soluble. The compound is a source of iron, and therefore has application as a nutrient supplement. It is created by reacting ferric hydroxide with citric acid, and then treated with ammonium hydroxide, followed by a process of evaporating and drying. It is used in water purification and as a food additive which is driving the market.

The global ammonium ferric citrate market progression can be credited to the upsurge in the demand due to rising demand from the food and beverage industries as a coolant and preservative. This compound helps to improve the appearance and flavor of these products and also provides other functional benefits like pH control and preservation. Furthermore, the food industry is constantly innovating and introducing new products, which creates a continuous demand for new ingredients such as advanced chemicals.

COVID-19 Impact: Pandemic led to decrease in demand for food and beverage industries

The effects of the COVID-19 pandemic are already being felt on a global level, the global ammonium ferric citrate was significantly influenced. The outbreak of COVID-19 had a negative impact on several markets. Various countries went into lockdown. With sudden pandemic, all kinds of businesses observed disruptions. The pandemic had a significant impact on the chemicals & advanced materials as well. Pandemic led to decrease in demand for food and beverage industries which negatively affected on the market.

Latest Trends:

"Rising awareness about the health benefits among consumers"

It is also used in the pharmaceutical industry as an ingredient in iron supplements, which are used to treat iron deficiency anaemia. With the growing demand for natural and organic health supplements, the demand for this compound in the pharmaceutical industry is also expected to rise.

Ammonium Ferric Citrate Market SEGMENTATION

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• By Type

Based on type, the global ammonium ferric citrate market is divided into reagent grade, food grade and others.

• By Application

Based on application, the market is divided into water purification, food additive and others.

Driving Factors:

"Increasing demand for water treatment chemicals coupled with various research and development to drive market growth"

Ammonium ferric citrate is used as a coagulant in water treatment to remove impurities and pollutants from water. The growing demand for clean and safe water is driving the demand for water treatment chemicals, which is estimated to surge market growth.

Ongoing research and development activities in the chemical industry have led to the development of new applications for the chemical. This has expanded the potential uses of ammonium ferric citrate and increased its demand in various industries.

"Growth in the food and beverage industry to eventually boost the market growth"

It is used in the food and beverage industry as a food additive, particularly in the production of cheese and other dairy products. As the global population continues to grow, the demand for food and beverage products is also increasing, which is driving the demand for the chemical.

RESTRAINING FACTORS

"Stringent regulations and price fluctuations to hinder market progress"

The use of ammonium ferric citrate is subject to various regulations and guidelines by government agencies due to its potential health and environmental hazards. Compliance with these regulations can increase the production cost, which can impact the market growth. The price of this compound is subject to fluctuations due to the changing prices of raw materials and the availability of supply. This can impact the profit margins of the manufacturers, leading to fluctuations in the market.

Ammonium Ferric Citrate Market Regional Insights

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"Asia-Pacific to dominate the market due to the growing urbanization in global market"

Asia-Pacific is estimated to be the fastest-growing region in the overall market over the forecast period, owing to increasing population, rising urbanization with rapid industrialization, and economic growth are expected to be the key factors driving the regional market over the forecast period. The demand for ammonium ferric citrate is majorly driven by water purification applications in emerging economies such as China, India, Indonesia, Malaysia, and Thailand owing to increasing concerns about waterborne diseases. The product finds application in wastewater treatment processes due to its ability to remove heavy metals including arsenic from the solution as well as its role in reducing pollution caused during sewage disposal procedures.

North America likely to hold the second-largest share in the market. North America emerged as one of the prominent markets with a revenue share on account of high consumption levels coupled with stringent regulations regarding iron fortification products used for animal feed formulation purposes only (not human food).

Key Industry Players

"Market Players to emphasize on gaining partnerships and collaborations to grow in the market"

The report delivers information about the list of market players and their operations in the industry. The information is collected and reported with proper research, technological developments, acquisitions, mergers, expanding production lines, and partnerships. Other aspects examined for this market include companies producing and introducing new products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

List of Market Players Profiled

• Shreenath Chemicals (Mumbai, India)
• West Bengal Chemical Industries (kolkata, West Bengal)
• New Alliance Dye Chemicals Private (Mumbai, India)
• Eminenco Pharma (Nagpur, Maharashtra)
• Nikunj Chemicals (Gujarat)

Report coverage

This report examines an understanding of the global ammonium ferric citrate market’s size, share, growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macroeconomic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.