Organic acid is becoming more important and a part of the consumer's daily diet worldwide. The main causes of this shift are the increased incidence of lifestyle diseases and people practicing preventive healthcare. Additionally, the growing applications of organic acid in dietary supplements, food, and clinical nutrition have escalated market growth. The surge in R&D to manufacture efficient organic acids market from bio-based sources is expected to provide lucrative growth opportunities.
According to Data Bridge Market Research, the Global Organic Acids Market was valued at USD 11.39 billion in 2021 and is expected to reach USD 18.70 billion by 2029, at a CAGR of 6.39% during the forecast period of 2022-2029.
" Wide Adoption of Natural Preservatives Surge the Market Growth"
The growing demand for natural preservatives for ready-to-eat (RTE) and canned food products is increasing market growth. It has also been witnessed that organic acid is also added to cheese and baked products to extend their shelf life. Acid esters are widely used as artificial flavorings or solvents as an alternative to chemical alternatives. Thus, this factor boosts market growth.
What restraints the growth of the Global Organic Acids Market?
" Increasing health issues due to organic acids"
Health hazards associated with working with organic acids are mainly because of their corrosivity, which leads to tissue destruction. The most commonly reported toxic effects to involve liver disease, coagulation disorders, nephropathy, and nervous system disorders. Wide exposure to some organic acids can irritate the eyes, skin, nose, and throat. All these major factors impede the growth of the market.
Segmentation: Global Organic Acids Market
The global organic acids market is segmented on the basis of type, source and end user.
- On the basis of type, the global organic acids market is classified into acetic acid, citric acid, formic acid, lactic acid, malic acid, succinic acid, gluconic acid, ascorbic acid, fumaric acid, organic acid, others.
- On the basis of source, the global organic acids market is classified into biomass, molasses, starch, chemical synthesis, agro-industrial residue.
- On the basis of end-user, the global organic acids market is classified into food & beverage, animal feed, chemicals & industrial, pharmaceuticals, personal care, agriculture.
Regional Insights: North America is expected to dominate the Global Organic Acids Market
Asia-Pacific dominates the market due to the food and beverage industry development in this region. Furthermore, the increase in demand for organic acids in the healthcare sector, the surge in population, and GDP growth are the primary factors that boost the demand for organic acids.
North America is expected to grow in 2022-2029 due to increased disposable incomes and huge growth in the global economy. Furthermore, the usage of organic acids in the petrochemical industry, mainly in producing intermediates and end-use petrochemical products, boosts the market growth.
To know more about the study, visit, https://www.databridgemarketresearch.com/reports/global-organic-acids-market
Recent Developments in the Global Organic Acids Market
- In 2019, BASF-YPC, a 50:50 joint venture based in Nanjing, China, announced the start-up of a 30-kiloton propionic acid production plant. The combined capacity of the two plants has surged to 69 kilotons per year.
- In 2019, Royal DSM, a science-based company in nutrition, health, and sustainable living, announced the upgrade of its vitamin C (ascorbic acid) facility in Jiangshan, China. The aim was to improve safety, quality, sustainability, and production efficiencies.
The Prominent Key Players Operating in the Global Organic Acids Market Include:
- BASF SE (Germany)
- Lonza (Switzerland)
- Glanbia Plc (Ireland)
- ADM (U.S.)
- Farbest Brands (U.S.)
- SternVitamin GmbH & Co. KG (Germany)
- Adisseo (France)
- Rabar Pty Ltd (Australia)
- Orkla Health (Norway)
- Epax (Norway)
- BioProcess Algae LLC (U.S)
- Croda International plc (U.K)
Above are the key players covered in the report, to know about more and exhaustive list of global organic acids market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Organic Acids Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
