Bio-Organic acid Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Bio-Organic acid Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The market for bio-organic acid is expected to grow at a CAGR of more than 5% during the forecast period. Major factors driving the market studied are stringent regulations over conventional organic acids, growing demand for bio-based polymer in healthcare.

Key Highlights

• Shifting focus on eco-friendly products is likely to act as an opportunity.
• Asia-Pacific dominated the market across the globe with the largest consumption in countries such as India, China, etc.

Key Market TrendsBio-lactic Acid Segment to Dominate the Market Growth

• Lactic acid (2-hydroxypropanoic acid) is a natural organic acid used in various industries, including food and non-food industries, such as the cosmetic and pharmaceutical industries. It is used in the production of oxygenated chemicals, plant growth regulators and special chemical intermediates. The demand for lactic acid has increased considerably due to its wide range of applications. Presently, lactic acid can be produced either by chemical synthesis or by microbial fermentation.
• Lactic acid is majorly used to produce Poly Lactic Acid (PLA). The market for lactic acid in Europe has depicted stable growth and is expected to portray the same trend over the forecast period. Growing demand for PLA in packaging applications, especially food packaging, is anticipated to drive the demand for lactic acid in the European market.
• A growing number of polymer applications and stringent regulations overuse of conventional plastic products in various end-use applications are anticipated to boost the demand for PLA in the region.
• This, in turn, is anticipated to propel the lactic acid market

Asia-Pacific Region to Dominate the Market Growth

• Though Europe is the largest regional market for global bio-organic acid, Asia-Pacific is also an important market as it represents the fastest-growing regional market.
• The increasing demand from healthcare, food & beverage, and textile industries of countries, like China, India, Thailand, and Korea are, in turn, providing a great opportunity for the bio-organic acid market to continue its fast pace of growth.
• Moreover, since the product is an intermediate and is bio-degradable in nature, it has been widely accepted by the industries for various purposes, such as polymer resins.
• The large market size, with its huge growth in the Asia-Pacific region, is instrumental in the expansion of the global bio-organic acid market.

Competitive Landscape

The bio-organic acid market is fragmented. Some of the major players include BASF SE, DSM, Mitsubishi Chemical Corporation, Cargill, Incorporated, and GC Innovation America, amongst others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.