07-Oct-2022 | Facts and Factors
According to Facts and Factors, the global organic acids market size was worth USD 10,982.40 million in 2021 and is estimated to grow to USD 14,971.57 million by 2028, with a compound annual growth rate (CAGR) of approximately 5.30% over the forecast period. The report analyzes the organic acids market's drivers, restraints/challenges, and their effect on the demands during the projection period. In addition, the report explores emerging opportunities in the organic acids market.
The organic acid is an organic compound with weak acidic properties. It can be produced through molasses, and agro-industrial residues, such as soybean, sugarcane, wheat bran, citric pulp, and fruit peels. Organic acid includes some commonly used carboxyl, formic, lactic, and malic acid. Food manufacturers widely use them as antioxidants and preservatives, inactivating or inhibiting the growth of bad microorganisms and foodborne pathogens. They are highly beneficial in treating oil, gas, and metallic ions. Furthermore, various applications of organic acids comprise food & beverages and personal care products which have attained significant attention in the few years.
Browse the full “Organic Acids Market Size, Share, Growth Analysis Report By Type (Acetic Acid, Lactic Acid, Citric Acid, Formic Acid, Propionic Acid, Ascorbic Acid, Gluconic Acid, Fumaric Acid, Malic Acid, and Others Acid), By Application (Food & Beverages, Feed, Pharmaceuticals, and Industrial), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028" report at https://www.fnfresearch.com/organic-acids-market
One of the primary elements promoting a favorable outlook for the global organic acids market is the significant increase in the food and beverage sector worldwide. The key drivers of the demand for organic acids include an increase in the healthcare sector's need for them, population growth, and GDP expansion. However, the simultaneous fermentation and product recovery method used in synthesizing synthetic organic acids pose dangerous environmental risks, resulting in the development of strict laws over their use and restricting the market's expansion. It is projected that increased R&D to create effective organic acids from bio-based sources will present a lucrative growth potential in the market.
The global organic acids market is segmented into type, application, and region. Based on type, the organic acids market is categorized into acetic acid, lactic acid, citric acid, formic acid, propionic acid, ascorbic acid, gluconic acid, fumaric acid, malic acid, and other acids. The citric acid segment dominated the market in 2021. The market is segmented based on application: food & beverages, feed, pharmaceuticals, and industrial. The food & beverages segment dominated the market in 2021.
The global organic acids market is segmented into geographical regions: North America, Latin America, Europe, Asia-Pacific, Middle East & Africa. The Asia Pacific dominated the market growth in 2021. This is attributable to the demand for various organic acid fortification products throughout the Asian region. In this Asia Pacific region, consumer awareness regarding the consumption of natural organic acids is rising. Production facilities for many major companies have been set up throughout the Asia Pacific. Additionally, a poll by the Associated Chambers of Commerce and Industry of India (ASSOCHAM) found that consumers are turning to processed ginger-garlic pastes, tomato purees, and ketchup as substitutes because of the sharp increase in the price of vegetables.
Report Scope
Report Attribute |
Details |
Market Size in 2021 |
USD 10,982.40 Million |
Projected Market Size in 2028 |
USD 14,971.57 Million |
CAGR Growth Rate |
5.30% CAGR |
Base Year |
2021 |
Forecast Years |
2022-2028 |
Key Market Players |
Cargill, BASF SE, the Dow Chemical Company, Henan Jindan Lactic Acid Technology Co. Ltd, Archer Daniels Midland Company, Eastman Chemical Company, Myriant Corporation, Corbion N.V., Koninklijke DSM N.V., and others. |
Key Segment |
By Type, Application, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
Purchase Options |
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Some of the main competitors dominating the global organic acids market include- Cargill, BASF SE, the Dow Chemical Company, Henan Jindan Lactic Acid Technology Co. Ltd, Archer Daniels Midland Company, Eastman Chemical Company, Myriant Corporation, Corbion N.V., Koninklijke DSM N.V.
Recent Development:
- January 2020: BASF investment in sustainable technology capacity expansion for methane sulfonic acid. And this expansion increased production by 50,000 metric tons per year.
Global Organic Acids Market is segmented as follows:
By Type
- Acetic acid
- Lactic acid
- Citric acid
- Formic acid
- Propionic acid
- Ascorbic acid
- Gluconic acid
- Fumaric acid
- Malic acid
- Other acids
By Application
- Food and beverages
- Feed
- Pharmaceuticals
- Industrial
By Region
- North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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