Global Organic Acids Market: Overview
An organic compound possessing acidic properties is known as organic acid. The commonly known organic acids are whose acidity is related to the carboxyl group –COOH inhibited by them. Sulfonic acids, that is, acids with –SO2OH group, are relatively stronger acids. Also, alcohols with–OH group can also act as acids but are rather very weak acids. The acidity of the conjugate base of the acid is determined by its relative stability. Uric acid, acetic acid, citric acid and lactic acid are commonly used organic acids. They are used in several commercial applications such as dyes, surfactants catalysts and others. Formaldehyde can be used as an antimicrobial agent whereas glycerine is used as an energy source in the production on of organic acids. Few organic acids are obtained by the fermentation process of numerous microorganisms and are extensively used in food and beverages industry. Sulfuric acid, proteins, amino acids, salts of acids, oil, enzymes and other feedstock are used in the production of organic acids. Some major end user industries for organic acids include pharmaceuticals, food & beverages, textile and adhesives, petrochemicals and others.
|Historic Years||2016 - 2020|
|Forecast Years||2021 - 2028|
|Segments Covered||By Product Type, By Application, and By End Use|
|Forecast Units||Value (USD Billion), and Volume (Units)|
|Quantitative Units||Revenue in USD million/billion and CAGR from 2021 to 2028|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World|
|Countries Covered||U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others|
|Number of Companies Covered||10 companies with scope for including additional 15 companies upon request|
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.|
|Customization Scope||Avail customized purchase options to meet your exact research needs.|
Global Organic Acids Market: Growth Factors
Food & beverages industry is the largest consumer of organic acids driving the global organic acids market to some extent. Increasing population and GDP growth in the developing economies are influencing the demand for organic acids. The pharmaceutical industry has a great demand for organic acids, which may open up new growth opportunities in the global market in future. Huge investment on research and development activities in order to produce efficient organic acids from bio-based sources is further contributing to the growth of the global market. However, several synthetic organic acids are obtained from non-renewable sources that are hazardous to the environment; this may hamper the global organic acids market growth to some extent.
Global Organic Acids Market: Segmentation
The global organic acids market is categorized based on the application as food, industrial and feed. Based on the source, the global market is fragmented as starch, biomass, chemical synthesis and molasses. On the basis of types, the global organic acids market is segmented as gluconic acid, acetic acid, formic acid, fumaric acid, lactic acid, citric acid, propionic acid and other acids.
Global Organic Acids Market: Regional Analysis
Asia Pacific contributed for the largest market share and is expected to continue this trend in the near future. India and China are largest market players in terms of consumption of organic acids, which in turn drives the global market. Escalating growth in Asia Pacific coupled with growing food & beverages, pharmaceutical and other industries is anticipated to propel the organic acids market in this region. However, strict regulations implemented to control the use synthetic organic acids are expected to negatively impact the market growth in North America and Europe. And thus, biobased organic acids are anticipated to open new growth opportunities in North America and Europe.
Global Organic Acids Market: Competitive Players
Major players in the global organic acids market are The Dow Chemical Company, BioAmber, DSM Cargill, and Genomatica.
Global Organic Acids Market: Regional Segment Analysis
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