The organic acid market was valued at US$15.244 billion in 2020 and is expected to grow at a CAGR of 6.39% over the forecast period to reach a total market size of US$23.518 billion by 2027.
An organic acid is a chemical substance that has acidic properties. When compared to mineral acids, organic acids are weak acids that do not entirely dissociate in water. Formic acid and lactic acid dissolve in water, but larger molecular mass organic acids like benzoic acid are entirely insoluble in a neutral state. Lactic acid and formic acid were originally generated by fermentation, but developments in biotechnology and chemical synthesis have supplanted the previous fermentation technique. In addition, other agro-industrial wastes such as cassava bagasse, coffee husk, apple pomace, soybeans, sugarcane, corn-cobs, press-mud, citric pulps, wheat bran, and kiwi fruit peel are being used to produce organic acids.
The primary reasons driving demand for organic acids are their growing applications in the healthcare sector and the high growth being observed across different industrial sectors. However, the synthesis of synthetic organic acids from nonrenewable sources (simultaneous fermentation and product recovery) entails environmental risks, leading to the introduction of rigorous laws governing their usage, stifling market growth. Increased Research and development to produce efficient organic acids from bio-based sources will provide new market growth possibilities.
Because of rising disposable incomes and the global expansion of the economy, the global organic acid market provides market participants with several prospects. Organic acids are widely used in the petrochemical industry, primarily in the manufacture of intermediates and end-use petrochemical products. Furthermore, the expansion of the pharmaceutical sector is a component that contributes to the market's expansion. However, tight limitations on the synthetic manufacture of organic acids in North America and Europe are impeding the growth of the organic acid market.
The Asia-Pacific holds a significant market share since it is the fastest-growing regional market. The rising demand from countries such as China, India, Thailand, and Korea's healthcare, food and beverage, and textile sectors, in turn, provides significant potential for the organic acid market to maintain its rapid rise. Furthermore, because the product is intermediate and bio-degradable in nature, it has been extensively accepted by industries for a variety of applications, including polymer resins. The large market size, along with rapid growth in the Asia-Pacific region, is critical for the expansion of the organic acid market.
The primary applications of rganic acid include food and drinks, personal care items, and medicines, which have received a lot of attention in recent years. Acetic acid, citric acid, lactic acid, and fumaric acid are the most common organic acids used in plastics, tanning, textiles, paper, metal, medicines, fragrances, herbal pesticides, colours, and dyes, lubricants, food and beverage applications, and cosmetic production. Formic and acetic acids are the most commonly utilised acids in medicinal and industrial applications. During the forecast period, the market for organic acids is anticipated to be driven by increased demand for multifunctional skincare products. Furthermore, due to their benefits over other feed acidulants, acidulants such as malic and fumaric acids are replacing antibiotics in animal feed. Fumaric and malic acids benefit animal health by regulating bacteria development in the digestive system. Moreover, in response to growing concerns about the use of antibiotic growth promoters (AGP) in animal feed, producers are turning to organic acids as alternatives.
Acetic acid can be a dangerous chemical if not utilised in proper and safe proportions. Acetic acid is used in pesticide formulations as a herbicide to suppress weeds on fruits; it is also used to prevent mildew and inhibit bacterial development in feed. However, excessive acetic acid concentrations in pesticides or animal feed can be hazardous to animals, plants, and aquatic life. This is one of the most significant problems that organic acid producers confront. Furthermore, because of environmental concerns and legal requirements, the use of propionic acid in herbicides is steadily declining. Many herbicide formulations containing propionic acid were formerly utilised in many industrialised nations. Various of these items have been banned in some countries owing to the presence of harmful contaminants.
COVID-19's Impact on the Organic Acids Market:
The COVID-19 pandemic had a substantial influence on global organic Acid markets at the regional and country levels. The pandemic had a detrimental influence on the market owing to the lockdown, which caused the shutdown of production facilities, thus reducing demand from end-user industries. However, with the relaxation of limitations, the industry is projected to revive internationally throughout the projection period.
|Market size value in 2020||US$15.244 billion|
|Market size value in 2027||US$23.518 billion|
|Growth Rate||CAGR of 6.39% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Type, Application, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Cargill, Incorporated, BASF SE, The Dow Chemical Company, Celanese Corporation, DuPont de Nemours, Inc., Eastman Chemical Company, GC Innovation America, Corbion N.V., Henan Jindan Lactic Acid Technology Co., Ltd., Archer Daniels Midland|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the organic acids market size by 2027?
A1. The organic acids market is expected to reach a total market size of US$23.518 billion in 2027.
Q2. What are the growth prospects for the organic acids market?
A2. The global organic acids market is expected to grow at a CAGR of 6.39% over the forecast period.
Q3. What is the size of the global organic acids market?
A3. Organic Acids Market was valued at US$15.244 billion in 2020.
Q4. What factors are anticipated to drive the organic acids market growth?
A4. The primary reasons driving the organic acids market include an increase in demand for organic acids in the healthcare sector, an increase in population, and GDP growth.
Q5. Which region holds the largest market share in the organic acids market?
A5. The Asia-Pacific holds a significant market share since it is the fastest-growing regional market.
The Dow Chemical Company
DuPont de Nemours, Inc.
Eastman Chemical Company
GC Innovation America
Henan Jindan Lactic Acid Technology Co., Ltd.
Archer Daniels Midland
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