AMMONIUM FERRIC CITRATE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)

The global ammonium ferric citrate market size is expected to witness potential gains in the future, and register a significant CAGR over the forecast period (2019 - 2027).

Market Overview

Ammonium ferric citrate is a water soluble, reddish-brown compound, whose odor carries a faint trace of ammonia. The compound is used as a food additive in powder form with the purpose of controlling and regulating acidity. Unlike ferric citrate, ammonium ferric citrate 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. The resultant product is either a brown form containing 16-18% of ferric ammonium citrate and iron, or a greenish compound carrying 14-16% iron.

Market Dynamics

Ammonium ferric citrate has a wide range of applications in processes such as water purification, as a reducing agent, in blueprinting, for medical treatment, as a food additive in animal food, and in photography. Increasing demand for ammonium ferric citrate in several end use industries such as pharmaceutical, food and beverage, wastewater management, and printing among others, is expected to be a major contributing factor to the growth of the global ammonium ferric citrate market. Growth of the pharmaceutical industry is driven by increasing disease incidence resulting from pollution and unhealthy lifestyle. Furthermore, demand for convenience food and changing food habits among the populace is adding to the revenue generated by the food and beverage industry.

However, factors such as environmental and health hazards caused by ammonium ferric citrate can pose a challenge to the market growth. Prolonged exposure or contact with the skin can cause mild irritation to the skin. Moreover, the dust can irritate the throat, nose, and lungs.

Market Outlook

The Asia Pacific region is estimated to witness the fastest growth in the global ammonium ferric citrate market during the forecast period, due to increasing developments in the pharmaceutical sector, escalating population, swiftly expanding urban sector, as well as the rise in the revenue generated by the construction and automotive industries. China is predicted to generate the highest revenue owing to increasing manufacturing, distribution, and export of ammonium ferric citrate to regions such as Europe and Latin America. Countries such as Japan and India are also likely to have a major market share owing to the latter’s distribution channels in the North America region.

Key Players

Some of the key players operating in the market are Eminenco Pharma, West Bengal Chemical Industries Limited, Shreenath Chemicals, New Alliance Dye Chemicals Private Limited, West Bengal Chemical Industries Limited, and Devendra Kirti Pharmachem among others.