The global organic acids market was valued at USD 8.27 billion in 2016 and is projected to reach USD 11.39 billion by 2022, at a CAGR of 5.5% during the forecast period. The market is growing due to wide scale usage of organic acids in various applications such as food & beverages, personal care products, and pharmaceuticals. Growing demand for convenience food and technological innovations, and production of organic acids from cost effective renewable sources are other factors driving the market growth. Furthermore, increased usage of organic acids in animal feed as a substitute of antibiotic growth promoters (AGP) is another factor that is expected to drive the market for organic acids during the forecast period.
The acetic acid segment, accounted for the largest share in the organic acids market in 2016.
On the basis of type, the acetic acid segment accounted for the largest share in the organic acids market in 2016 followed by citric acid. Acetic acid is used majorly in food & beverage industries due to its antibacterial and antifungal properties. Bakery and confectionery industries use acetic acid and citric acid to prevent bacterial and fungal growth in their products. Citric acid also has applications as a cleaning and chelating agent, water treating solvent, and in the cosmetics industry.
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Food & beverage application segment accounted for the largest share in the organic acids market in 2016
Organic acids are used extensively in food & beverages. Acidic extracts may act as buffers to regulate acidity, antioxidants, preservatives, and flavor enhancers in food-grade products. Although organic acids have been used to counteract pathogens in food for many years, there is an important need to evaluate and improve their continued effectiveness and sustainability. There is also a growing demand for foods that are produced using milder treatments, which include heat, salt, sugar, and chemicals. New technologies to prevent the growth of harmful bacteria are introduced, thereby increasing the demand for organic acids in food & beverages applications.
Asia Pacific is projected to witness the highest growth rate during the forecast period.
Asia-Pacific accounted for the largest market share for organic acid in 2016, owing to the increase in demand for organic acid in countries such as China and India. Asia-Pacific is projected to be the fastest-growing market during the forecast period, due to the increased awareness related to the health benefits of organic acid. The relatively lower operational costs in this region enable manufacturers to have competitive pricing on a global platform. In this region, countries are less stringent, in terms of regulations, over the trade and domestic marketing of food additives. Organic acids are manufactured on a large scale in China and are exported to international markets.
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This report includes a study of marketing and development strategies, along with the product portfolios of the leading companies. It includes profiles of leading companies such as Cargill (U.S.), BASF SE (Germany), Dow Chemical Company (U.S.), Henan Jindan Lactic Acid Technology Co. Ltd (China), Archer Daniels Midland Company (U.S.), Eastman Chemical Company (U.S.), Corbion (Netherlands), Myriant Corporation (U.S.), Polynt-Reichhold (Italy), Tate & Lyle (U.K.), Koninklijke DSM N.V. (Netherlands), and E.I. Du Pont De Nemours & Company (U.S.).
Reasons to buy this report:
- To get a comprehensive overview of the organic acids market
- To gain wide-ranging information about the top players in this industry, their product portfolios, and key strategies adopted by them
- To gain insights about the major countries/regions in which the organic acids market is flourishing
