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

Organic Acid Market size was valued at USD 10.99 billion in 2019 and is poised to grow from USD 11.64 billion in 2023 to USD 18.29 billion by 2031, growing at a CAGR of 5.8% in the forecast period (2024-2031).

The 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. 'BASF SE', 'Cargill, Inc.', 'Dow Chemical Company', 'Eastman Chemical Company', 'Elekeiroz S.A.', 'Henan Jindan Lactic Acid Technology Co. Ltd.', 'Koninklijke DSM N.V.', 'LUXI Group Co., Ltd.', 'LyondellBasell Industries N.V.', 'Myriant Corporation', 'NatureWorks LLC', 'Novozymes A/S', 'PTT Chemical Public Company Limited', 'Qingdao Abel Technology Co., Ltd.', 'Tate & Lyle PLC', 'The Lubrizol Corporation', 'Vertellus Holdings LLC', 'Wacker Chemie AG', 'Weifang Ensign Industry Co., Ltd.', 'Yancheng Huade Biological Engineering Co., Ltd.'

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.

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.

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.