Asia Organic Acid Market, 2024-2030

Organic acids are weak acids that do not entirely disassociate in water unlikely mineral acids. Organic acids such as formic acid and lactic acid are miscible in water; however, higher molecular mass organic acids such as benzoic acid are absolutely insoluble in neutral form. Lactic acid and formic acid were traditionally produced by fermentation process. Various agro-industrial residues such as cassava bagasse, coffee husk, apple pomace, soybean, sugarcane, corn-cobs, press-mud, citric pulps, wheat bran, and kiwi fruit peel are being deployed for the production of organic acids.

The Asia organic acid market research report sheds light on the market circumstances by carrying out primary and secondary research for more than 320 hours. As per the report, the Asia organic acidis growing at a fast pace and increasing its geographical footprint rapidly. The Asia organic acid market is valued at US $ xxx million dollars in 2018 which is forecast to grow at CAGR of xx% and reach a massive US $ xxx million dollars by the end of 2023 in value.

The major growth driver for the Asia organic acid market is development of food and beverage industry. Furthermore, increasing demand for organic acid in healthcare sector, rising population and GDP growth are the major factors that drive the demand for organic acid. R&D to produce efficient organic acids from bio-based sources is anticipated to offer lucrative growth of opportunity in the market. Industries such as petrochemical and the pharmaceutical are the key factors that supplement the growth of the market.

The production of synthetic organic acids using nonrenewable sources postures hazardous threats to our environment, which has led to implementation of stringent regulations over their use and is the main reason for the hindrance in this industry. Another obstruction that retards the industry is the rise in the cost of organic acid.

China's bio-organic acid market is growing dynamically. Most bio-organic acid production is concentrated in the north-eastern provinces and on the coast, namely in Shandong, Heilongjiang, and Zhejiang. In recent years, bio-organic acid production in the north-western provinces, like Sichuan, Guizhou and Inner Mongolia has been growing. The significant players those produce organic acids are ADM, Cargill, Corbion, Cellulac, Galactic, Henan Jindan Lactic Acid Co., Ltd, Ningxia Hypow Bio-Technology Co., Ltd, Prathista Industries Limited, and Purac, among others.

Research Methodology

At Market Krystal, we believe in a systematic approach towards the problem at hand. The process begins with the identification of a challenge/opportunity, followed by an exhaustive brainstorming by in-house and consulting experts. Based on the outcomes, an in-depth research (primary & secondary) is carried out to collect industry insights. The data is then analysed by a gamut of techniques (Statistics, Machine Learning, Econometrics, and Analytics) to derive inter-disciplinary deductions that are executable and result in value creation.

Hence, the organic acid market has been divided based on types and applications. All types of organic acid were mapped for different end use sectors in different countries within Asia region. Findings were later integrated for a consolidated report.

Market Krystal ensured a holistic approach by involving experts from diverse functionalities and locations. This allowed a 360 view of the industry dynamic. Market Krystal held more than 30 interviews for this study, details of which are mentioned:

By company type:

Manufacturers (40%), Suppliers (20%), Consumers (20%), Researchers (10%), Independent industry consultant (10%)

By designation:

Top level (40%), Operation level (20%), Mid-level (40%)

Contents of the report:

• Insights on the Asia organic acid industry dynamics
• Estimation of the present Asia organic acid market size in terms of value and volume
• Asia organic acid market breakup based on type and application
• Substantiated Asia organic acid market forecast for the next five years.
• In depth analysis of the leading companies working across different nodes of Asia organic acid industry value chain