USD 10.99 billion
Organic Acid Market Size, Share, Growth Analysis, By Product Type(Acetic Acids, Citric Acids, Formic Acids, Propionic Acids), By Application(Food and Beverages, Feed, Pharmaceuticals, and Industrial), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30C2125 |
Region:
Global |
Published Date: July, 2024
Pages:
260
|Tables:
77
|Figures:
75
Organic Acid Market Insights
The global organic acid market was valued at USD 11.63 billion in 2022 and is poised to grow from USD 12.30 billion in 2023 to USD 18.25 billion by 2031, growing at a CAGR of 5.80% in the forecast period (2024-2031).
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.
US Organic Acid Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Bakery & Confectionery
Fastest Growth
Bakery & Confectionery
Growth Rate
5.8% CAGR
Global Organic Acid Market ($ Bn)
Country Share for North America Region (%)
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Organic Acid Market Segmental Analysis
The Global Organic Acid Market is segmented based on the Product, Application, and region. Based on the Product, the 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 market is segmented as Bakery & Confectionery, Dairy, Beverages, Poultry, Meat and Seafood, Livestock feed, Animal feed, Pharmaceuticals, Industrial and Others. Based on Region the Organic Acid Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Analysis by Type
Based on the Type, Acetic acid has the greatest 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 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 Application
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.
Global Organic Acid Market By Type
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Organic Acid Market Regional Insights
The U.S. is expected to become an attractive 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.
Global Organic Acid Market By Region
- Largest
- Fastest
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Organic Acid Market Dynamics
Organic Acid Market Driver
Pharmaceutical Industry to gain a huge momentum in the chemical domain
- In the food industry, due to useful qualities, such as lactic acid, which is frequently utilised in the pharmaceutical sector, organic acids are in high demand, which is also being fueled by the pharmaceutical industry's rapid rise. Furthermore, it is impressive how organic acid is used in the textile, feed, and personal care industries.
- The main market drivers include the expanding usage of organic acids in a variety of applications, the increased focus on generating organic acids from bio-based sources, the expanding use of dietary microencapsulated organic acids, and the expanding demand in developing economies.
Organic Acid Market Restraint
Excessive use might hamper environmental balance
- If not utilised in safe and prudent amounts, acetic acid can be a dangerous substance. Not only is acetic acid used in industrial settings, but it is also used in pesticide formulations, used as an herbicide to control weeds on fruit, and reduced bacterial development in feed.
- However, acetic acid can be detrimental to animals, plants, and aquatic life when it is present in excessive concentrations in pesticides or animal feed. One of the biggest problems affecting organic acid producers is this.
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Organic Acid Market Competitive Landscape
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
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ARCHER DANIELS MIDLAND COMPANY (US)
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BASF SE (Germany)
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CALANESE CORPORATION (US)
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E.I. DUPONT DE NEMOURS AND COMPANY (US)
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HENAN JINDAN LACTIC ACID TECHNOLOGY AND CO. (China)
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MYRIANT CORPORATION (US)
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TATE AND LYLE PLC. (UK)
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THE DOW CHEMICAL COMPANY (US)
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Cargill (US)
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Kemin Industries, Inc. (US)
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Hawkins Watts, Inc. (New Zealand)
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Jungbunzlauer Suisse AG (Switzerland)
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Qingdao Tianjiu Chemical Co., Ltd. (China)
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Galactic (Belgium)
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Purac Biochem (Netherlands)
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BioAmber, Inc. (US)
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Perstorp Holding AB (Sweden)
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Novozymes A/S (Denmark)
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Naturex (France)
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DuPont (US)
Recent Developments
- In July 2022, Tate & Lyle Extends Dietary Fibre Research Collaborated with APC Microbiome Ireland, a Science Foundation Ireland (SFI) Research Centre, through a new two-year research project to increase understanding of how dietary fibers can impact the functioning of the gut microbiome.
- In May 2022, Celanese Corporation, a global chemical and specialty materials company, confirm a declaration of force majeure for the Acetyl Chain and Acetate Tow products to its customers in the Western Hemisphere.
Organic Acid Key Market Trends
- Citric Acid Demand is Growing in the Food and Beverage Sectors: Due to its low toxicity when compared to other acidulates, citric acid is one of the most commonly used additives in the food and beverage industry, both as an acidulate and a preservative to extend the shelf life of convenience foods. It can be found in canned vegetables and fruit, jams, desserts made with gelatin, and non-alcoholic beverages. It also contributes significantly to flavour enhancement, especially in the beverage industry, since it offers a tart and energising flavour that balances off the sweetness of many drinks.
- Growing Demand for RTE foods: One of the primary elements fostering a favorable outlook for the market is the significant increase in the food and beverage sector around the world. There is rising customer demand for ready-to-eat (RTE) food products made with organic acids to stop the growth of bacteria as a result of hectic schedules and busy lifestyles.
Organic Acid Market SkyQuest Analysis
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 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.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 11.63 billion |
| Market size value in 2031 | USD 18.25 billion |
| Growth Rate | 5.80% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| 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) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Organic Acid Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Organic Acid Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the 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 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.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Organic Acid Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the 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.
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