Organic Acids Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Acetic Acid, Formic Acid, Lactic Acid, Propionic Acid, Citric Acid, Ascorbic Acid, Fumaric Acid, Oxalic Acid, Uric Acid, Malic Acid, Tartaric Acid, Others), By Application (Food & Beverages, Animal Feed, Pharmaceuticals, Industrial, Personal Care, Others), And By Geography - Forecasts From 2022 To 2027
- Published : Mar 2022
- Report Code : KSI061612074
- Pages : 128
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, and 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.
- An increase in applications of organic acids
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.
- Environmental concerns:
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.
- Afyren, a French biotech company, and Südzucker, a European sugar manufacturer, signed a long-term deal on biobased organic acids for food in March 2021.
- Lygos, a speciality ingredient provider, collaborated with the US Department of Energy (DOE) Bioenergy Technologies Office's Agile BioFoundry (ABF) in March 2021 to produce a huge multi-omics dataset to guide the development of organic acids.
Organic Acids Market Scope:
|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|
- By Type
- Acetic Acid
- Formic Acid
- Lactic Acid
- Propionic Acid
- Citric Acid
- Ascorbic Acid
- Fumaric Acid
- Oxalic Acid
- Uric Acid
- Malic Acid
- Tartaric Acid
- By Application
- Food & Beverages
- Animal Feed
- Personal Care
- By Geography
- North America
- South America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Asia Pacific
- South Korea
- North America
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.
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of End-Users
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. Organic Acids Market Analysis, by Type
5.2. Acetic Acid
5.3. Formic Acid
5.4. Lactic Acid
5.5. Propionic Acid
5.6. Citric Acid
5.7. Ascorbic Acid
5.8. Fumaric Acid
5.9. Oxalic Acid
5.10. Uric Acid
5.11. Malic Acid
5.12. Tartaric Acid
6. Organic Acids Market Analysis, by Application
6.2. Food & Beverages
6.3. Animal Feed
6.6. Personal Care
7. Organic Acids Market Analysis, by Geography
7.2. North America
7.3. South America
7.5. Middle East and Africa
7.5.1. Saudi Arabia
7.5.3. South Africa
7.6. Asia Pacific
7.6.4. South Korea
8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. Company Profiles
9.1. Cargill, Incorporated
9.2. BASF SE
9.3. The Dow Chemical Company
9.4. Celanese Corporation
9.5. DuPont de Nemours, Inc.
9.6. Eastman Chemical Company
9.7. GC Innovation America
9.8. Corbion N.V.
9.9. Henan Jindan Lactic Acid Technology Co., Ltd.
9.10. Archer Daniels Midland
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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