Organic Acids Market by Type (Acetic Acid, Citric Acid, Formic Acid, Lactic Acid, Propionic Acid, Ascorbic Acid, Gluconic Acid, Fumaric Acid), Application (Food & Beverages, Feed, Pharmaceuticals, and Industrial), and Region - Global Forecast to 2022
“The organic acids market is projected to grow at a CAGR of 5.48%”
The organic acids market is valued at USD 8.27 billion in 2016, and projected to grow at a CAGR of 5.48%, to reach USD 11.39 billion by 2022. The market is primarily driven by factors such as the wide use of organic acids in various applications such as plastic making, tanning, textiles, paper, metal, colors & dyes, lubricants, in food & beverage applications, and cosmetic manufacturing. One of the major restraints in the growth of the organic acids market is the price and availability of raw materials and infrastructural & technological barriers.
“Citric is projected to be the fastest-growing type segment in the organic acids market in 2016.”
Citric acid as a type of organic acid is projected to grow at the fastest rate for the forecasted period. The key manufacturers in the organic acids market offer citric acid for different industrial applications such as food, feed, textile, and pharmaceuticals. Citric acid is naturally sourced in many foods, especially fruits & vegetables; for example, oranges and lemons. Citric acid is used mainly in food and beverage products as it is the strongest edible acid as compared to other organic acids such as lactic and ascorbic acid. Citric acid is also used as a cleaning and chelating agent, as a water treating solvent, and in the cosmetics industry.
“Pharmaceutical is projected to be the fastest-growing application”
Based on application, the pharmaceutical segment is expected to be the fastest-growing during the forecasted period. Due to the new technologies and the rising health concerns related to antibiotic uses, organic acids have begun to form an integral part of nutraceutical and pharmaceutical applications.
“Asia-Pacific: High growth is expected in the organic acids market”
Asia-Pacific is projected to be the fastest-growing market for the period considered for this study, due to the increase in the functionalities of organic acids range from acting as a preservative, acidity regulator, antioxidant, flavor enhancer, coating, and in the production of biopolymers. The food & beverages market in the Asia-Pacific region is currently undergoing a significant transformation in response to rapid urbanization, and diet diversification.
Break-up of Primaries:
By Company Type: Tier 1 – 40 %, Tier 2 – 40%, and Tier 3 – 20%
By Designation: Director Level – 20%, C Level – 40%, and Manager Level – 40%
By Region: North America – 25%, Europe –25%, and Asia-Pacific – 50%
Leading players profiled in this report:
• Cargill (U.S.)
• BASF SE (Germany)
• Dow Chemical Company (U.S.)
• Henan Jindan Lactic Acid Technology Co. Ltd (China)
• Archer Daniels Midland Company (U.S.)
• Eastman Chemical Company (U.S.)
• Corbion (Netherlands)
• Myriant Corporation (U.S.)
• Polynt-Reichhold (Italy)
• Tate & Lyle (U.K.)
• Koninklijke DSM N.V. (Netherlands)
• E.I. Du Pont De Nemours & Company (U.S.)
The report segments the organic acids market on the basis of type, application, and region. In terms of insights, this research report has focused on various levels of analyses—competitive landscape, end- use analysis and company profiles, which together comprise and discuss the basic views on the emerging & high-growth segments of the organic acids market, high-growth regions, countries, government initiatives, drivers, restraints, opportunities, and challenges.
Reasons to buy this report:
• To get a comprehensive overview of the organic acids markets
• To gain wide ranging information about the top players in this industry, their product portfolios, and key strategies adopted by them
• To gain insights about the major countries/regions in which The organic acids market is flourishing