Food Grade Acetic Acid Market Size, Share, Opportunities, And Trends By Form (Liquid, Dry), By Application (Bakery And Confectionery, Dairy And Frozen Desserts, Sweet And Savory Snacks, Sauces And Dressings, Others), And By Geography - Forecasts From 2024 To 2029

  • Published : Feb 2024
  • Report Code : KSI061616723
  • Pages : 143

Acetic Acid is known to have a wide range of applications, ranging from food and beverage applications to industrial applications. It is a type of colourless organic liquid that has a pungent odour that is similar to household vinegar. It is also used as a raw material and solvent for the production of other chemical products, oil and gas production, and in the food and pharmaceutical industries. Vinegar is known to contain 5% acetic acid and 95% water and has been used in several applications, which include as a food ingredient, personal care products, household cleaners, pet shampoos and many other household products. Some of the benefits and uses are as follows:

  • Food preparation: Vinegar is known to be used as a common food ingredient in pickling liquids, vinaigrettes, marinades, and other salad dressings. Vinegar is also known to be used in food preparation for controlling salmonella contamination in meat and poultry products.
  • Food processing: Acetic acid is known for being used as a cleaning and disinfecting agent in food processing plants.
  • Pharmaceuticals and vitamins: Acetic Acids are known to be used for the manufacturing of vitamins, antibiotics, hormones, and other several products.
  • Others: The salts in acetic acid and various rubber and photographic chemicals are known to be made from acetic acids. Acetic acid and its sodium salt are known to be commonly used as food preservatives in the food industry as well.

Introduction:

The global food-grade acetic acid market is expected to grow significantly during the forecasted period of 2024-2029, due to factors such as increasing food consumption coupled with the increasing growth rate of the global population.

Market Drivers:

  • Growing food consumption: The growth of global food consumption will drive the increase in demand for food, which is further influenced by the increasing global population. As the global population is expected to increase significantly, the increase in prevalence of food insecurity also increases, leading to an increase in the need for food worldwide.  The OECD-FAO Agricultural Outlook 2023-2032 states that the global food consumption in calories is expected to account for an increase of 1.3% annually over the next decade. This increase in food consumption can be linked to the increase in the global population, which influenced the growth in demand for food. Therefore, the increase in consumption of food will drive the food-grade acetic market growth due to its wide range of applications in the food industry, such as food preparation, food processing, and many others.

Key Players:

  • LyondellBasell Industries Holdings BV: A company known for the production, development, and distribution of plastics, petrochemicals, and basic chemicals. They are also known for being a global supplier and manufacturer of acetic acid in the market.
  • Eastman Chemical Company: A global leader known for the production, development, and distribution of specialty additives, advanced materials, and chemicals. They are also known for the production of acetic acid with a wide range of applications, such as drugs, food, and feeds.

Regional Analysis:

The Asia Pacific region is expected to witness significant growth in the food-grade acetic acid market during the forecasted period of 2024-2029. The factors that affect the market are the increasing growth of the food industry coupled with the increasing population in the region. Acetic acid is a major component in the production of vinegar in the food industry. Vinegar has been in use for a wide range of products in the food and beverage industry. Acetic acid is known to be used in a wide variety of applications in the food industry, which include as a sour agent in vinegar, pickled vegetables, and sauces, and is also known to be used as a raw material for spices. The increasing use of acetic acid as a food additive drives the food-grade acetic acid market growth, which is further influenced by the regional food processing industry expansion. China and India are expected to contribute to the majority of the growth in the region, accounting for the high population size and the increasing food consumption in the region. Invest India.gov states that the Indian food processing industry is one of the largest in the world and is expected to increase in output to reach an estimated $535 billion by 2025-2026. It was also stated that the total exports of meat production in the country accounted for 9.29 MT for the year 2021-22, which accounts for a growth rate of 5.62% annually. Acetic acid has been known to be used as a cleaning agent for various food processing products, allowing the products to be disinfection during the food processing procedure. Therefore, the increase in the growth of the food industry coupled with the increase in growth of the population in the region drives the region food grade acetic acid market growth during the forecast period.

Market Developments:

  • April 2022: Jubilant Ingrevia announced the commissioning of their new Green Ethanol based food grade acetic acid plant at its manufacturing facility in Gajraula, Uttar Pradesh. This plant was designed to meet the highest standard of product certification, which includes FSSAI, ISO 22000, Kosher, Halal, FCC Codex, and many others, and was created to cater to the increasing demand for food preservatives across the world. The plant has an estimated capacity of 25,000 tons per annum and will be manufacturing the product from Green Ethanol, which is produced from natural bio-based feedstock.

Segmentation:

  • By Form:
    • Liquid
    • Dry
  • By Application:
    • Bakery and Confectionery
    • Dairy and Frozen Desserts
    • Sweet and Savory Snacks
    • Sauces and Dressings
    • Others
  • By Geography:
    • North America
      • United States
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • United Kingdom
      • Germany
      • France
      • Italy
      • Spain
      • Others
    • Middle East and Africa
      • Saudi Arabia
      • UAE
      • Others
    • Asia Pacific
      • Japan
      • China
      • India
      • South Korea
      • Taiwan
      • Thailand
      • Indonesia
      • Others

1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base, and Forecast Years Timeline

1.8. Key Benefits to the stakeholder

2. RESEARCH METHODOLOGY  

2.1. Research Design

2.2. Research Processes

3. EXECUTIVE SUMMARY

3.1. Key Findings

3.2. Analyst View

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

5. GLOBAL FOOD GRADE ACETIC ACID MARKET BY FORM

5.1. Introduction

5.2. Liquid

5.2.1. Market Trends and Opportunities

5.2.2. Growth Prospects

5.2.3. Geographic Lucrativeness

5.3. Dry

5.3.1. Market Trends and Opportunities

5.3.2. Growth Prospects

5.3.3. Geographic Lucrativeness

6. GLOBAL FOOD GRADE ACETIC ACID MARKET BY APPLICATION

6.1. Introduction

6.2. Bakery and Confectionery

6.2.1. Market Trends and Opportunities

6.2.2. Growth Prospects

6.2.3. Geographic Lucrativeness

6.3. Dairy and Frozen Desserts

6.3.1. Market Trends and Opportunities

6.3.2. Growth Prospects

6.3.3. Geographic Lucrativeness

6.4. Sweet and Savory Snacks

6.4.1. Market Trends and Opportunities

6.4.2. Growth Prospects

6.4.3. Geographic Lucrativeness

6.5. Sauces and Dressings

6.5.1. Market Trends and Opportunities

6.5.2. Growth Prospects

6.5.3. Geographic Lucrativeness

6.6. Others

6.6.1. Market Trends and Opportunities

6.6.2. Growth Prospects

6.6.3. Geographic Lucrativeness

7. GLOBAL FOOD GRADE ACETIC ACID MARKET BY GEOGRAPHY

7.1. Introduction

7.2. North America

7.2.1. By Material

7.2.2. By Application

7.2.3. By Product Type

7.2.4. By Country

7.2.4.1. United States

7.2.4.1.1.Market Trends and Opportunities

7.2.4.1.2.Growth Prospects

7.2.4.2. Canada

7.2.4.2.1.Market Trends and Opportunities

7.2.4.2.2.Growth Prospects

7.2.4.3. Mexico

7.2.4.3.1.Market Trends and Opportunities

7.2.4.3.2.Growth Prospects

7.3. South America

7.3.1. By Material

7.3.2. By Application

7.3.3. By Product Type

7.3.4. By Country

7.3.4.1. Brazil

7.3.4.1.1.Market Trends and Opportunities

7.3.4.1.2.Growth Prospects

7.3.4.2. Argentina

7.3.4.2.1.Market Trends and Opportunities

7.3.4.2.2.Growth Prospects

7.3.4.3. Others

7.3.4.3.1.Market Trends and Opportunities

7.3.4.3.2.Growth Prospects

7.4. Europe

7.4.1. By Material

7.4.2. By Application

7.4.3. By Product Type

7.4.4. By Country

7.4.4.1. United Kingdom

7.4.4.1.1.Market Trends and Opportunities

7.4.4.1.2.Growth Prospects

7.4.4.2. Germany

7.4.4.2.1.Market Trends and Opportunities

7.4.4.2.2.Growth Prospects

7.4.4.3. France

7.4.4.3.1.Market Trends and Opportunities

7.4.4.3.2.Growth Prospects

7.4.4.4. Italy

7.4.4.4.1.Market Trends and Opportunities

7.4.4.4.2.Growth Prospects

7.4.4.5. Spain

7.4.4.5.1.Market Trends and Opportunities

7.4.4.5.2.Growth Prospects

7.4.4.6. Others

7.4.4.6.1.Market Trends and Opportunities

7.4.4.6.2.Growth Prospects

7.5. Middle East and Africa

7.5.1. By Material

7.5.2. By Application

7.5.3. By Product Type

7.5.4. By Country

7.5.4.1. Saudi Arabia

7.5.4.1.1.Market Trends and Opportunities

7.5.4.1.2.Growth Prospects

7.5.4.2. UAE

7.5.4.2.1.Market Trends and Opportunities

7.5.4.2.2.Growth Prospects

7.5.4.3. Others

7.5.4.3.1.Market Trends and Opportunities

7.5.4.3.2.Growth Prospects

7.6. Asia Pacific

7.6.1. By Material

7.6.2. By Application

7.6.3. By Product Type

7.6.4. By Country

7.6.4.1. Japan

7.6.4.1.1.Market Trends and Opportunities

7.6.4.1.2.Growth Prospects

7.6.4.2. China

7.6.4.2.1.Market Trends and Opportunities

7.6.4.2.2.Growth Prospects

7.6.4.3. India

7.6.4.3.1.Market Trends and Opportunities

7.6.4.3.2.Growth Prospects

7.6.4.4. South Korea

7.6.4.4.1.Market Trends and Opportunities

7.6.4.4.2.Growth Prospects

7.6.4.5. Taiwan

7.6.4.5.1.Market Trends and Opportunities

7.6.4.5.2.Growth Prospects

7.6.4.6. Thailand

7.6.4.6.1.Market Trends and Opportunities

7.6.4.6.2.Growth Prospects

7.6.4.7. Indonesia

7.6.4.7.1.Market Trends and Opportunities

7.6.4.7.2.Growth Prospects

7.6.4.8. Others

7.6.4.8.1.Market Trends and Opportunities

7.6.4.8.2.Growth Prospects

8. COMPETITIVE ENVIRONMENT AND ANALYSIS

8.1. Major Players and Strategy Analysis

8.2. Market Share Analysis

8.3. Mergers, Acquisitions, Agreements, and Collaborations

8.4. Competitive Dashboard

9. COMPANY PROFILES

9.1. LyondellBasell Industries Holdings B.V.

9.2. Lenzing Group

9.3. Airedale Group

9.4. Eastman Chemical Company

9.5. Celanese Corporation

9.6. Tan Hung Phu Chemicals Co., Ltd. (CÔNG TY TNHH HÓA CH?T TÂN H?NG PHÚ)

9.7. INEOS


LyondellBasell Industries Holdings B.V.

Lenzing Group

Airedale Group

Eastman Chemical Company

Celanese Corporation

Tan Hung Phu Chemicals Co., Ltd. (CÔNG TY TNHH HÓA CH?T TÂN H?NG PHÚ)

INEOS


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