Global Organic Acid Market was valued at US$ 9.22 Bn in 2019, and is expected to reach US$ XX Bn by 2027, at a CAGR of XX % during forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Organic Acid market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, report also focuses on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in near future to emerging segment in Organic Acid market.
Organic acid is a type of organic compound that typically has acidic properties. Organic acids are used in a wide range of applications such as bakery, dairy, livestock feed, beverages, and pharmaceuticals. The driving factors behind the organic acid markets are wide use of organic acids in various applications and wide functionalities of organic acids range from their use as a preservative, acidity regulator, antioxidant, flavor enhancer, coating, and in the production of biopolymers.
Increase in the consumption of acetic acid in the food & beverage division is likely to propel the organic acid market in the coming years. However, stringent regulations implemented by governing bodies to limit the use of synthetic organic acids are possible to restrain the market in the next few years.
Based on the product type, the acetic acid segment accounted for the largest share in the organic acids market in 2017 followed by citric acid. Acetic acid is used majorly in food & beverage industries attribute to its antibacterial and antifungal properties. Bakery and confectionery industries use citric acid and acetic acid to prevent bacterial and fungal growth in their products.
Based on the sources, segment is expected to expand at a considerable pace during the forecast period. Organic acids constitute a key group of chemicals, and most of them can be produced by agro industrial residue. Agricultural residues are an attractive source of several chemicals that may be transformed into high value-added products using a wide range of novel chemical or microbiological treatments to optimize their use. Their exploitation is a topic of environmental and economic importance. The production of biomaterials from a range of agricultural wastes has been achieved through extraction or fermentation processes either with pretreatment to obtain fermentable sugars or without pretreatment using solid-state fermentation
Based on the Application, Food & beverage application segment accounted for the largest share in the organic acids market in 2017. Organic acids are used extensively in food & beverages industries owing to it act as buffers to regulate acidity, antioxidants, preservatives, and flavor enhancers in food-grade products. Although organic acids turned to be used to counteract pathogens in food for many years, there is an important need to evaluate and improve their constant effectiveness and sustainability.
Geographically, Asia pacific holds the major share of organic acid market and it is expected to dominate the global organic acid market during forecast period. This can be credited to the increase in demand for various organic acid fortified products in the Asian region. Consumer awareness related to natural organic acid consumption in this Asia Pacific region is increasing. Many big players have established their production plants in Asia pacific.
Increase in the number of regulations to limit the use of synthetic organic acids has led to moderate growth of the organic acids market in Europe and North America. However, the demand for bio-based organic acids is likely to increase in North America regions during the forecast period.
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Scope of Organic Acid Market:
Global Organic Acid Market, By Product Type:
• Acetic Acids
• Citric Acids
• Formic Acids
• Propionic Acids
• Lactic Acids
• Fumaric Acids
• Ascorbic Acids
• Gluconic Acids
• Other Acid
Global Organic Acid Market, By Source
• Chemical Synthesis
• Argo-Industrial Residue
Global Organic Acid Market, By Application:
• Food & Beverages
Global Organic Acid Market, By Region:
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key Players Operating In Global Organic Acid Market
• Archer-Daniels-Midland Company
• Cargill Incorporated
• BASF S.E.
• BioAmber Inc
• Genomatica, Inc.
• Henan Jindan Lactic Acid Technology Co., Ltd.
• Fuso Chemical Co., Ltd.
• Koninklijke DSM N.V.
• Celanese Corporation
• Corbion, DowDuPont Inc.
• Eastman Chemical Company
• Elekeiroz SA
• LUXI Group
• GC Innovation America
• NatureWorks LLC
• Polynt SpA
• Tate & Lyle.
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