Global Organic Acid Market Report 2022: Market is Expected to Record a Value of USD 16.45 Billion in 2028, Rising at a CAGR of 5.9%

·9 min read

WASHINGTON, Jan. 19, 2022 (GLOBE NEWSWIRE) -- The Organic acids are frequently used in food processing as they provide wide advantage such as reduced antimicrobial activities, highly effective against fungi including yeast, etc. It also helps to control the dietary acidification and the pH level of the food processed. Dietary acidification with organic acid has contributed to environmental hygiene by preventing feed raw materials and compound feed from microbial and fungal deterioration. These are few factors that are promoting the growth of organic acid market states Vantage Market Research, in a report, titled “Organic Acids Market by Type (Acetic Acid, Citric Acid, Formic Acid, Lactic Acid), by Application (Food & Beverages, Feed, Pharmaceuticals, Industrial), by Region (North America, Europe, Asia Pacific, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.

The market size stood at USD 11.02 Billion in 2021. The Global Organic Acid Market size is expected to reach USD 16.45 Billion by 2028, exhibiting a Compound Annual Growth Rate (CAGR) of 5.9% during the forecast period.

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  • In-depth Industry Analysis, Introduction, Overview, and COVID-19 Pandemic Outbreak.

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  • Provide chapter-wise guidance on request 2021 Updated Regional Analysis with Graphical Representation of Trends, Size, & Share, Includes Updated List of figures and tables.

  • Updated Report Includes Major Market Players with their Sales Volume, Business Strategy and Revenue Analysis by using Vantage Market Research methodology.

(Please note that the sample of this report has been updated to include the COVID-19 impact study prior to delivery.)

List of Prominent Players in the Organic Acid Market:

  • Koninklijke DSM N.V. (Netherlands)

  • BASF SE (Germany)

  • Cargill (US)

  • Henan Jindan Lactic Acid Technology Co. Ltd (China)

  • the Dow Chemical Company (US)

  • Archer Daniels Midland Company (U.S.)

  • Myriant Corporation (U.S.)

  • Eastman Chemical Company (U.S.)

  • Corbion N.V. (Netherlands)

The report on organic acid market highlights:

  • Assessment of the market

  • Premium Insights

  • Competitive Landscape

  • COVID Impact Analysis

  • Value Chain Analysis

  • Historic Data, Estimates and Forecast

  • Company Profiles

  • Porter’s Five Forces Analysis

  • Global and Regional Dynamics

Market Overview:

Increasing R&D and Technology Innovations is Boosting the Organic Acid Market.

Organic acids are occurring in animal, plant, and microbial sources as they are widely distributed in nature. They contain one or more carboxylic acid groups, which may be covalently linked in groups such as amides, esters, and peptides. Production of organic acids on a large industrial scale is mainly confined to acids of microbial origin. Microbial production of organic acids is considered as a promising approach to obtain building block chemicals based on renewable carbon sources. The functional groups of organic acids can serve as excellent natural starting materials for the chemical industry in applications best suited to a sustainable industrial society. Production of organic acids from bioprocesses can be increased only if it is cost effective. Therefore, existing and even established processes need to be improved for higher yields and higher product concentrations. Genetic engineering and metabolic engineering of the producer microorganisms offer the means of strategic planning for such improvements along with the development of highly sophisticated cultivation techniques such as continuous culture and cell-recycle, or retention, techniques. It is expected, however, that it will increase in the forthcoming years as new markets arise from new biotechnological processes.

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Organic Acid Disorders is the Major Restraining Factor in the Organic Acid Market

The main purpose of organic acids is use as a preservative agent in food products and its application is to control the growth of spoilage and pathogenic bacteria. It also extends the shelf-life of food products without causing sensory changes. However, it is known that the concentrations of organic acids applied to obtain efficient antimicrobial activity in food should be higher than those used in laboratory media. Hence, this increase in concentrations could dramatically change the sensory quality (colour, odour, flavour, and taste) of food samples. Otherwise, the insufficiency or lack of antimicrobial/preservative effect of organic acids added to food products could depend not only on the concentration parameter. Another limit that could also be is the incompatibility between organic acids and other inoculated antimicrobial or preservative agents in food. These are some of the factors that are hampering the growth of organic acid market.

COVID-19 Analysis:

The COVID-19 outbreak has affected various industries worldwide. The organic acid market also had a huge impact. Governments across the world took severe actions like border seals, lockdown, and implementing strict social distancing measures, in order to stop the swift spread of COVID-19. These actions led to a severe impact on the global economy impairing various industries. Moreover, lower raw material supply further affected the demand organic acid manufacturing across the globe. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data- points:

  1. Impact Assessment of COVID-19 Pandemic

    1. North America

    2. Europe

    3. Asia Pacific

    4. Latin America

    5. Middle East & Africa

  2. Quarterly Market Revenue Forecast by Region 2020 & 2021

  3. Key Strategies Undertaken by Companies to Tackle COVID-19

  4. Long Term Dynamics

  5. Short Term Dynamics

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Regional Analysis:

Increasing Growth of Organic Acid Market in Asia Pacific

Asia Pacific is expected to dominate the Global Organic Acid Market in 2021 and is likely to continue the same trend during the forecast period. This is attributable to the increasing adoption of these technologies and rising investment in Research and Development (R&D) activities across the region. Furthermore, favourable government initiatives and offering of funds for research is also expected to support the regional growth of the market. Countries such as China, the India, and Japan are the key markets for organic acids. Increasing awareness and health benefits of organic acids is likely to flourish the sales of organic acids market in near future.

Recent Developments:

March 14, 2017 – New BASF organic acid product makes animal drinking water safer. A new organic acid product from BASF, Lupro-Mix® NA, will make animal drinking water safer by improving acidification and suppressing the growth of microorganisms. The new organic acid product will be introduced for the first time at VIV Asia, held from March 15 to 17 at Bangkok International Trade & Exhibition Centre.

May 3, 2021 - Eastman Chemical acquires 3F Feed & Food. Eastman Chemical Co. has acquired 3F Feed & Food, a European leader specializing in the technical and commercial development of additives for animal feed and human food. Located in Spain, 3F’s business and assets are expected to strengthen and support continued global growth of Eastman’s animal nutrition business and will become part of its Additives & Functional Products segment.

Key questions answered in the report:

  • Which regional market will show the highest and rapid growth?

  • Which are the top five players of the Organic Acid Market?

  • How will the Organic Acid Market change in the upcoming six years?

  • Which application and product will take a lion’s share of the Organic Acid Market?

  • What are the Organic Acid market drivers and restrictions?

  • What will be the CAGR and size of the Organic Acid Market throughout the forecast period?

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This market titled “Organic Acid Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:

Report Attribute

Details

Market Size in 2021

USD 11.02 Billion

Projected Market Size in 2028

USD 16.45 Billion

CAGR Growth Rate

CAGR of 5.9% from 2022 – 2028

Base Year

2021

Historic Years

2016 - 2020

Forecast Years

2022 - 2028

Segments Covered

Type: - Acetic Acid, Citric Acid, Formic Acid, Lactic Acid, Propionic Acid, Ascorbic Acid, Gluconic Acid, Fumaric Acid

Application: - Food & Beverages, Feed, Pharmaceuticals, Industrial

Quantitative Data - Units

Revenue in USD Million/Billion and CAGR from 2022 to 2028

Regions Covered

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

Countries Covered

U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others

Report Coverage

Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.

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