Organic Acids Market Size & Analysis - Forecasts To 2025 By Type (Acetic Acid, Citric Acid, Formic Acid, Lactic Acid, Propionic Acid, Ascorbic Acid, Gluconic Acid, Fumaric Acid, Malic Acids, Others), By Application (Food & Beverages, Feed, Pharmaceuticals, Petrochemical, Industrial, Personal Care, Others), By Region (North America, Europe, Asia-Pacific, Central & South America, and Middle East & Africa), End-use Landscape, Vendor Landscape and Market Share & and Competitive Landscape - Global Market Estimates
Organic Acids Market Insights
The global organic acids market is expected to grow at a CAGR of more than 5% over the forecast period. This growth is mainly attributed to rising application of organic acids in various sectors such as pharmaceuticals, animal feed, personal care and food & beverages such as soft drinks among others. Moreover, the rising demand for convenience and ready to eat foods is also likely to stimulate market growth.
However, high cost associated with raw materials, transport, energy, and chemicals leads to an increase in the overall price of the product, thereby hampering the market growth. Moreover, stringent regulation related to use of synthetic organic acids is anticipated to restrain market growth.
Organic Acids Market: Type Insights
On the basis of type, the industry is segmented into acetic acid, citric acid, formic acid, lactic acid, propionic acid, ascorbic acid, gluconic acid, fumaric acid and malic acids among others. The market for acetic acid is expected to occupy the highest share owing to factors such as easy availability and wide application. Moreover, antifungal and antibacterial properties of acetic acid are also projected to lead to an increase in its application in food & beverages sector.
The citric acid segment is expected to grow significantly over the years on account of its growing application in cosmetics and water treatment industries.
Organic Acids Market: Application Insights
Organic Acids find its application in food & beverages, feed, pharmaceuticals, petrochemical, industrial and personal care industries among others. The food & beverages sector is anticipated to dominate the market over the forecast period on account of its wide range of applications in preservatives, rheology modifiers, and additives.
The petrochemical segment is projected to grow significantly over the years on account of its rising application in petrochemical products such as crude oil and other refined products.
Pharmaceutical segment also possesses immense growth potential attributing to high use of organic acids in the preparation of multiple drugs such as aspirin and caffeine tablets among others.
Organic Acids Market: Regional Insights
Asia Pacific occupied the largest share of this market since the past few years due to the presence of several food & beverages industries across the region. Increasing the increasing demand for organic acids across several verticals, especially healthcare is also projected to boost the market growth in Asia Pacific. Demand is projected to rise from countries such as India, China and Japan. Bio based organic acids are anticipated to boost the demand in Europe and North America.
Organic Acids Market: Vendor Landscape
The report contains a chapter dedicated to vendors operating in the market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.
Organic Acids Market: End-Use Landscape
The end-use landscape entails a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase organic acids over the coming years. Some leading consumers of this market are PepsiCo, Tyson, ConAgra Foods Inc., Johnson & Johnson, GlaxoSmithKline, and General Mills Inc.
Organic Acids Market: Market Share & Competitor Analysis
The key players profiled in the market include BASF SE, Henan Jindan Lactic Acid Technology Co. Ltd, DOW Chemical Company, Eastman Chemical Company, Cargill, Polynt-Reichhold, E.I. Du Pont De Nemours & Company, Myriant Corporation, Corbion N.V., Addcon GmbH, Anpario PLC, Perstorp Group, Koninklijke DSM N.V., Celanese Corporation and Nutreco N.V.
Please note: This is not an exhaustive list of companies profiled in the report.
In March 2017, BASF and Balchem Corp. received approval from Food & Drug Administration to incorporate Amasil formic acid in poultry diets in the U.S. Amasil is considered to be the most potent organic acid for feed acidification.
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The global Organic Acids Market has been studied from the year 2016 till 2025. However, the CAGR provided in the report is from the year 2017 to 2025. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Organic Acids Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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