According to IMARC Group’s latest report, titled “Organic Acids Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global organic acids market reached a value of US$ XX Billion in 2020. Organic acids refer to organic compounds with weak acidic properties and low molecular mass. They can be produced through fermentation of molasses, starch, biomass, or agro-industrial residues, including coffee husk, cassava bagasse, apple pomace, soybean, corn cobs, sugarcane, press-mud, wheat bran, etc. Some commonly utilized organic acids include carboxyl, formic, lactic, propionic, gluconic, malic, and benzoic acids. Organic acids are highly beneficial in chelating metallic ions and the stimulation treatments of oil and gas. They are widely used as acidulants, emulsifiers, flavor enhancers, etc. Compared to the traditional mineral acids, organic acids are less reactive and are functional even in extreme temperatures. Consequently, they find extensive applications in manufacturing animal feed, food and beverages, pharmaceuticals, etc.
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The growing food and beverage industry across the globe is one of the key factors driving the organic acids market. In line with this, the rising demand for ready-to-eat (RTE) food products made with organic acids to prevent the growth of bacteria is further catalyzing the market growth. Moreover, the widespread product adoption as a substitute for antibiotic growth promoters (AGP) in the animal feed is acting as another significant growth-inducing factor. Apart from this, the shifting preferences for personal care products and multifunctional cosmetics fortified with citric and formic acids are augmenting the global market. Furthermore, the launch of favorable initiatives by several government bodies to encourage the production of bio-based organic acids from renewable resources is also bolstering the market growth. In the coming years, the increasing product utilization to produce various intermediates and petrochemical products is anticipated to fuel the organic acids market across the globe. Looking forward, IMARC Group expects the market to grow at a CAGR of XX% during 2021-2026.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
- BASF SE
- Cargill Incorporated
- Celanese Corporation
- Dow Inc.
- Koninklijke DSM N.V.
- DuPont de Nemours Inc.
- Eastman Chemical Company
- Henan Jindan Lactic Acid Technology Co. Ltd.
- Tate & Lyle PLC
- The Archer-Daniels-Midland Company.
Breakup by Type:
- Acetic Acid
- Citric Acid
- Formic Acid
- Lactic Acid
- Gluconic Acid
- Fumaric Acid
- Itaconic Acid
Breakup by Source:
- Chemical Synthesis
- Argo-Industrial Residue
Breakup by End User:
- Food and Beverage
- Animal Feed
- Chemical and Industrial
- Personal Care
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Market Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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