Global Organic Acids Market
By Product (Acetic Acid, Citric Acid, Formic Acid, Lactic Acid, Propionic Acid, Ascorbic Acid, Gluconic Acid, Fumaric Acid, Malic Acid), Application (Food & Beverages, Feed, Industrial, Pharmaceutical, Others), and Region (North America, Asia Pacific, Europe, Latin America, Rest of the World) – Market Size, Status and Forecast to 2025
The global organic acids market was valued at USD 8.29 billion in 2016 and is projected to reach USD 14.10 billion by 2025, growing at a CAGR of 5.4% from 2017 to 2025.
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Organic acids are compounds with a carbon skeleton. The demand for these compounds is expected to increase gradually owing to growing application in food & beverage industries. The rise of packaged and convenience food is expected to have a positive impact on market demand of organic acids.
1. Market Drivers
1.1 Growing demand for convenience food
1.2 Increase in demand for micro-encapsulation
2. Market Restraints
2.1 Fluctuating raw material price and technological barriers
2.2 High cost and poor supply chain
The global organic acids market is segmented on the basis of process, end-use industry, and region.
1. Global Organic Acids Market, by Product:
2. Global Organic Acids Market, by Technology:
2.1 Solvent Based technology
2.2 Water based Technology
2.3 Powder Coating
2.4 Radiation Cure & High Solids
3. Global Organic Acids Market, by Region:
3.1 North America (U.S., Canada, Mexico)
3.2 Europe (Germany, UK, France, Rest of Europe)
3.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
3.4 Latin America (Brazil, Argentina, Rest of Latin America)
3.5 Middle East & Africa
The major players in the market are as follows:
2. EI Du Pont De Nemours
3. Archer Daniels Midland Company
4. Corbion N.V.
5. Daicel Corporation
6. Eastman Chemical Company
7. BASF SE
8. DOW Chemical Company
9. Henan Jindan Lactic Acid Technology Ltd.
10. Celanese Corporation
11. Nutreco N.V.
12. Tate & Lyle
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
Research study on the organic acids market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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