Organic acids market is projected to expand at a CAGR of ~ 5% during the forecast period. The extensive usage of organic acids in the food & beverages industry mostly influences the remarkable growth of the organic acids market. The application of organic acids in bakery and confectionery products accounts for the lion’s share of the market. The food & beverages industry has shown significant growth in recent years, owing to the growing population and increasing disposable income, thereby, driving growth in the organic acids market.
The key players in the global organic acids market report consist of
- DowDuPont
- Eastman Chemical Company
- Koninklijke DSM N.V.
- NatureWorks LLC
- Others
Each market player encompassed in the organic acids market study is assessed according to its market share, production footprint, current launches, agreements, ongoing R&D projects, and business tactics. In addition, the organic acids market study scrutinizes the strengths, weaknesses, opportunities and threats (SWOT) analysis.
In 2019, worldwide sales of organic acids are estimated to reach a valuation of ~US$ 120 Bn. Organic acids are gaining traction in pharmaceutical and animal feed applications, which further fuels market growth throughout the forecast period. Furthermore, the key players are increasing their business footprint swiftly, which creates lucrative opportunities for the market.
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Fact.MR, in its new offering, brings to fore an unbiased analysis of the global Organic Acids market, presenting historical demand data (2014-2018) and forecast statistics for the period, 2019-2027. The study divulges compelling insights on the organic acids market on the basis of product (acetic acid, formic acid, lactic acid, citric acid, propionic acid, ascorbic acid, gluconic acid, fumaric acid, malic acid, and other products), application (bakery and confectionery, dairy, beverages, poultry, meat and seafood, livestock feed, companion animal feed, pharmaceuticals, industrial and other applications) and six major regions.
Organic acids market is projected to expand at a CAGR of ~ 5% during the forecast period.
The extensive usage of organic acids in the food & beverages industry mostly influences the remarkable growth of the organic acids market.
The food & beverages industry has shown significant growth in recent years, owing to the growing population and increasing disposable income, thereby, driving growth in the organic acids market.In 2019, worldwide sales of organic acids are estimated to reach a valuation of ~US$ 120 Bn.
Organic acids are gaining traction in pharmaceutical and animal feed applications, which further fuels market growth throughout the forecast period.
Furthermore, the key players are increasing their business footprint swiftly, which creates lucrative opportunities for the market.Key Takeaways from the Organic Acids Market StudyThe steady demand for petroleum based organic acids is likely to suffer with an upsurge in the popularity of bio-based organic acids globally.Bakery & Confectionary applications account for the lion’s share in the marketAcetic acid predominantly covers the large share of the organic acids market, however in terms of value, citric acid holds the majority share owing to high priceIncreased demand for green substitutes and the crucial need to improve bio-refining processes are creating opportunities for organic acid manufacturersExpansion of Production Facility is the Top Strategy of Market PlayersManufacturers involved in the organic acids market are heavily investing in the research & development activities for advancement in production technologies to develop a more economical method of production.
Therefore, they have developed a bio-based version of organic acids, which is further boosting the global organic acids market.
Organic acids have been used for years as popular food and beverage additives in the worldwide food processing industry.
Some organic acid variants are also used complementary functions dissemination of food borne pathogens and reducing microbial contaminations.According to a recent study, the global market for organic acids is expected to result in a steady CAGR of approximately 5 per cent which is expected to hold through the forecast period till 2027.
This rising use of organic acid is attributed to extensive use for pharmaceutical product developments in addition to the processed food and beverage industries, which is augmented further by niche applications in chemical processing, detergent production, animal feed, and cosmetics.Niche Applications of Bio-based Organic Acids Creates Lucrative OpportunitiesAside from the primary applications in the food and beverage industry, organic acids find widespread applications for a number of niche end use industries ranging from consumer goods, coatings, textiles, feed, adhesives, and sealants among others.For a large number of these applications, acetic acid can account for a majority of such sales.
Further, formic acid finds use in applications such as the tanning of leather, drilling oil and also as an ingredient in deicing materials.Interested market participants and readers can peruse the global market organic acids market report to get insights into and evaluation of:Key growth drivers and restraints, trends and opportunities, and major challenges influencing the adoption rate of offerings by various players in the organic acids marketMajor research and product development projectsPromising technologies and favorable regulations in key regionsSegments that will lose or gain shares in the next few yearsValue chain of key vendors and manufacturersThe organic acids market report provides estimations and the market sizing and prospects of various regions.
To this end, the study segments the organic acids market on the following product types:Acetic AcidFormic AcidLactic AcidCitric AcidPropionic acidAscorbic acid OrganicGluconic acidFumaric acidMalic acidStringent regulations relevant to environment protection has been a key factor behind the development and production of existing organic acid sourced from renewable and natural sources.
The demand to improve bio refining processes has also played a major role in the growth of organic acid manufacturers.This trend is a key reason why bio-based succinic acid has rapidly replaced conventional succinic acid sourced out of petroleum, which has also resulted in the growth of the biodegradable plastic production.
