USD 11.21 billion
Report ID: SQSG30C2010 | Region: Global | Published Date: November, 2022 | Pages: 157
Global Organic Acid Market was valued at USD 11.21 billion in 2021, and it is expected to reach a value of USD 15.2 billion by 2028, at a CAGR of more than 5.3% over the forecast period (2022-2028).
Organic acid is a type of organic compound that typically has acidic properties. A common example of organic acids is called carboxylic acids, which are generally known as weak acids. acids and do not completely dissociate in a medium such as water, unlike strong minerals. The simplest form of organic acids, such as acetic and formic, are generally used in anti-stimulation treatment corrosion for gas and oil, as these are less reactive than hydrochloric acids and other strong acids.
The prevention of microbiological and fungal deterioration of animal feed is another benefit of dietary acidification with organic acid for environmental hygiene. Organic acids are widely used to both control the amount of acid in food and to improve flavour. The compounds are highly valued for their antioxidant and preservation qualities, which has a positive impact on the organic acid market. During the forecast period, it is expected that rising global population and GDP development in developing economies will fuel demand for organic acids. Due to their use in numerous medications like phenacetin and aspirin, the pharmaceutical industry is also anticipated to have a strong need for organic acids.
Global Market Size
USD 11.21 billion
Bakery & Confectionery
Bakery & Confectionery
more than 5.3% CAGR
To get more reports on the above market click here to Buy The Report
The Global Organic Acid Market is segmented based on the Product, Application, and region. Based on the Product, the Global Organic Acid Market is segmented as Acetic acids, Citric Acids, Formic Acids, Propionic Acids, Lactic Acids, Fumaric Acids, Ascorbic Acids, Gluconic Acids and Others. Based On Application, the Global Organic Acid Market is segmented as Bakery & Confectionery, Dairy, Beverages, Poultry, Meat and Seafood, Livestock feed, Animal feed, Pharmaceuticals, Industrial and Others. Based on Region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Analysis by Product
Based on the Product, Acetic acid has the greatest organic acid market share and it was dominant segment of the global market due to growing demand for the product from Vinyl Acetate Monomer (VAM) manufacturers around the world is forecast to continue to be a major factor in the organic acid market's expansion. Most of the acetic acid generated globally is consumed by VAM. Acetic acid, ethylene, oxygen, and a palladium catalyst are commonly used in a gas phase reaction to create VAM in the traditional way. When vinyl acetate monomer (VAM) is polymerized to create polyvinyl acetate or other polymers, which are essential components in the paints industry, a significant amount of the VAM produced is employed in paint and coating formulas.
Analysis by End User
Based on Application, Bakery & confectionery was a leading segment of the market, accounting for about 25% of the market share and expected to grow at a CAGR of 9%. Population growth raises the demand for food. To accommodate the growth, the supply for materials used in bakery confectionery production and trade volumes must increase. As a result, companies in this market could profit from an increase in demand for bakery and confectionery items throughout the course of the forecast period.
To get detailed analysis on other segments, Request For Sample Report
The U.S. is expected to become an attractive organic acid market in North America as a result of the existence of major producers of organic acid that ensure easy access to the product. Due to their organic composition and lack of toxicity, emerging organic acids like biodegradable plastic are increasingly gaining popularity. The market is anticipated to grow as gluconic acid, citric acid, and other food additives receive FDA approval in the US. Animal feed and the food and beverage industries are where it is most commonly utilised. Companies are including organic acids in the production of detergents due to their biodegradable nature.
The growth of the food and beverage industry in Asia-Pacific drives this region's need for organic acids. Additionally, the growth in the demand for organic acids in the healthcare industry, population growth, and GDP expansion are the main drivers of this demand. However, the simultaneous fermentation and product recovery method used in the synthesis of synthetic organic acids poses dangerous environmental risks, which has resulted in the development of strict laws over their use, so restricting the organic acid market's expansion. It is projected that increased R&D to create effective organic acids from bio-based sources will present a lucrative growth potential in the market.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Speak to one of our ABIRAW analyst for your custom requirements before the purchase of this report
The Global Organic Acid Market is relatively fragmented, with a high level of competition. due to the existence of significant regional and domestic players in several nations. The importance is placed on new product development, merger, expansion, acquisition, and partnership of the companies as strategic tactics used by the top companies to increase their brand presence among customers. The market is dominated by companies like Cargill, Inc., Eastman Chemical Co., BASF SE, Archer Daniels Midland Co., Tate & Lyle PLC, DSM, and Dow Inc.
Top Player's Company Profiles
Citric Acid Demand is Growing in the Food and Beverage Sectors
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Organic Acid Market Analysis, in terms of product, Acetic acid has the greatest market share and it was dominant segment of the global market. Based on Application, Bakery & confectionery was a leading segment of the market, accounting for about 25% of the market share and expected to grow at a CAGR of 9%. Among the regions, North America has witnessed a significant market growth.
|Market size value in 2021||USD 11.21 billion|
|Market size value in 2028||USD 15.2 billion|
|Growth Rate||more than 5.3%|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
Free report customization with purchase. Customization includes:-
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Organic Acid Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Organic Acid Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Organic Acid Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Organic Acid Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "
- Mr. Ali Zali, Commercial Director, ICIIC Iran.