Ammonium Ferric Citrate Market - Size, Share, Outlook, and Opportunity Analysis, 2019 – 2027

  • To Be Published : Jul 2019 |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

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.

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

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Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
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Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

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  • Scientific journals, and other technical magazines and whitepapers.
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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
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  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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