- Acetic Acid
- Citric Acid
- Formic Acid
- Lactic Acid
- Propionic Acid
- Ascorbic Acid
- Gluconic Acid
- Fumaric Acid
Organic Acids Market size was valued at USD 8,273.6 million in 2022 and is poised to grow at a CAGR of 5.7% from 2023-29. It has been estimated with a significant growth with the help of key drivers which include growing demand for convenience food, usage of organic acids in animal feed and production of organic acids from cost effective renewable sources. Thereâ€™s a restrain which may hamper the growth of global organic acids market are high price of raw materials and technology barriers. Major growth opportunity is provided by the leniency in regulatory policy for organic acids which boost the global organics acid market. When compared to mineral acids, organic acids are weak acids that do not entirely dissociate in water. Organic acids with lower molecular masses, such as formic acid and lactic acid, are soluble in water; however, organic acids with greater molecular masses, such as benzoic acid, are fully insoluble in neutral form. Fermentation was once the only way to make lactic acid and formic acid, but breakthroughs in biotechnology and chemical synthesis have made the fermentation process obsolete. For the synthesis of organic acids, various agro-industrial residues such as coffee husk, apple pomace, soybean, sugarcane, press-mud, citric pulps, wheat bran, and kiwi fruit peel are used. The demand for organic acids in Asia-Pacific is being fueled by the growth of the food and beverage industry. Furthermore, rising demand for organic acids in the healthcare industry, population growth, and GDP growth are all important drivers of demand for organic acids.
Fastest Growing Market
It is noticed that the global organics acid market has a significant market growth rate on the perception of increasing demand for citric acid. Citric acid is a natural constituent and common metabolite of plants and animals. It is a versatile organic acid that is utilized in a wide range of industries. It is used as an anti-oxidizing, acidifying, flavoring, preserving, chelating and buffering agent in the food and beverages, pharmaceutical, and cosmetics industries. According to the German Nutrition Society (DGE), awareness among consumers in Europe pertaining to the use of citric acid for maintaining digestive health increased to 49% in 2016 as compared to 44% in 2015.
2022 is the base year and 2029 is the forecast year.
The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).
In our report, we provide 12-15 market players’ information into the report. However, based on the client’s request we will provide additional country and regional market players information as well.