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Organic Acids Market Report by Type (Acetic Acid, Citric Acid, Formic Acid, Lactic Acid, Gluconic Acid, Fumaric Acid, Itaconic Acid, and Others), Source (Biomass, Molasses, Starch, Chemical Synthesis, Agro-industrial residue), End User (Food and Beverage, Animal Feed, Chemical and Industrial, Pharmaceuticals, Personal Care, Agriculture, and Others), and Region 2024-2032
Report Format: PDF+Excel | Report ID: SR112024A4562
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Market Overview 2024-2032:
The global organic acids market size reached US$ 26.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 50.4 Billion by 2032, exhibiting a growth rate (CAGR) of 7.1% during 2024-2032.
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Report Attribute
|
Key Statistics
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|---|---|
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Base Year
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2023
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|
Forecast Years
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2024-2032
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Historical Years
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2018-2023
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Market Size in 2023
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US$ 26.7 Billion |
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Market Forecast in 2032
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US$ 50.4 Billion |
| Market Growth Rate 2024-2032 | 7.1% |
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 2024-2032. 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:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Units | US$ Billion |
| Segment Coverage | Type, Source, End User, Region |
| Region Covered | Asia-Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Companies Covered | 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. |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 3899 Five User License: US$ 4899 Corporate License: US$ 5899 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global organic acids market was valued at US$ 26.7 Billion in 2023.
We expect the global organic acids market to exhibit a CAGR of 7.1% during 2024-2032.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous end-use industries for organic acids.
The rising adoption of organic acids as antioxidants, acidulants, emulsifiers, flavor enhancers, and preservatives is primarily driving the global organic acids market.
Based on the type, the global organic acids market can be segmented into acetic acid, citric acid, formic acid, lactic acid, gluconic acid, fumaric acid, itaconic acid, and others. Currently, acetic acid holds the majority of the total market share.
Based on the source, the global organic acids market has been divided into biomass, molasses, starch, chemical synthesis, and agro-industrial residue. Among these, chemical synthesis currently exhibits a clear dominance in the market.
Based on the end user, the global organic acids market can be categorized into food and beverage, animal feed, chemical and industrial, pharmaceuticals, personal care, agriculture, and others. Currently, the chemical and industrial industry accounts for the largest market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.
Some of the major players in the global organic acids market include 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.
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