Organic Acids Market

Market Overview 2023-2028:

The global organic acids market size reached US$ 24.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 39.5 Billion by 2028, exhibiting a growth rate (CAGR) of 8% during 2023-2028.

Organic acids refer to organic compounds with low molecular mass and weak acidic properties. They can be produced through fermentation of biomass, molasses, starch or agro-industrial residues, such as cassava bagasse, coffee husk, apple pomace, soybean, sugarcane, corn cobs, press-mud, wheat bran, citric pulps and fruit peels. Some of the commonly used organic acids include carboxyl, formic, lactic, propionic, gluconic, malic and benzoic acid. Organic acids are highly beneficial in the stimulation treatments of oil and gas and chelating metallic ions. They are widely used as antioxidants, acidulants, emulsifiers, flavor enhancers and preservatives. In comparison to the traditionally used mineral acids, organic acids are less reactive and can be used in extreme temperatures. As a result, they find extensive application in the manufacturing of food and beverages, animal feed and pharmaceuticals.

Organic Acids Market Trends:

Significant growth in the food and beverage industry across the globe is one of the key factors creating a positive outlook for the market. Due to the hectic schedules and busy lifestyles, there is an increasing consumer demand for ready-to-eat (RTE) food products manufactured using organic acids for preventing the growth of bacteria. Moreover, the widespread product adoption as a substitute for antibiotic growth promoters (AGP) in animal feed is also contributing to the growth of the market. In line with this, the rising preference for multifunctional cosmetic and personal care products fortified with citric and formic acids is also contributing to the growth of the market. Other factors, including the implementation of favorable government policies promoting the manufacturing of bio-based organic acids through renewable resources, along with the increasing product utilization for the production of various intermediates and petrochemical products, are anticipated to drive the market toward growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global organic acids market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, source and end user.

Breakup by Type:

• Acetic Acid
• Citric Acid
• Formic Acid
• Lactic Acid
• Gluconic Acid
• Fumaric Acid
• Itaconic Acid
• Others
   

Breakup by Source:

• Biomass
• Molasses
• Starch
• Chemical Synthesis
• Agro-industrial residue
   

Breakup by End User:

• Food and Beverage
• Animal Feed
• Chemical and Industrial
• Pharmaceuticals
• Personal Care
• Agriculture
• Others
   

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being 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 and The Archer-Daniels-Midland Company.

Report Coverage: