- Formic Acid
- Citric Acid
- Lactic Acid
- Ascorbic Acid
- Fumaric Acid
- Gluconic Acid
- Acetic Acid
- Succinic Acid
Bio-Based Organic Acids Market size was valued at 8.72 billion in 2022 and is expected to reach 12.69 billion by 2029 and is poised to grow at a significant CAGR of 5.5% from 2023 to 2029. Factors boosting the market growth are rising inclination of consumers towards bio-based products, strict regulations imposed on the usage of conventional organic acid producers in various countries and increasing demand across various end user sectors. However, high cost required in the production of these acids is hampering the growth of the market. This report studies global market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global bio-based organic acids market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product opportunities).
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The demand for bio-based organic acids is growing owing to the impact of conventional organic acids on the environment. Bio-based products are based on renewable and expandable resources, thereby decreasing dependency on increasingly expensive and limited (finite) fossil and mineral resources, and having the potential of saving energy and reduce GHG emissions. Minimizing chemical waste and the release of toxic byproducts into the environment is one of the most important benefits of sustainable bio-based chemical products. In order to cater to this growing demand, more and more organic acid is being produced from renewable sources such as feedstock.
The bio-based organic acids market is projected to expand at a CAGR of 5.5% during the forecast period.
Abengoa, BASF SE, BioAmber Inc, Cargill, Corbion NV
Asia-Pacific is the fastest-growing for bio-based organic acids market
Bio-Based Organic Acids Market size was valued at 8.72 billion in 2022 and is expected to reach 12.69 billion by 2029 and is poised to grow at a significant CAGR of 5.5% from 2023 to 2029.
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