Organic Acid Market Set to Soar Past USD 18.29 Billion by 2030
The global Organic Acid market size is expected to reach USD 18.29 billion by 2030 and exhibit a CAGR of 5.8% in the forecast period (2023−2030), according to Skyquest’s latest research report. The increasing demand for organic acids in various industries, growing awareness and preference for eco-friendly and sustainable products, expanding food and beverage industry, rising demand for organic acid-based preservatives, growing adoption of organic acids in animal feed industry, expanding applications in biodegradable plastics and polymers, are fueling the Market’s growth.
Westford,USA, Oct. 25, 2023 (GLOBE NEWSWIRE) — According to SkyQuest’s latest global research of the Organic Acid market, growing preference for natural and clean label ingredients, increasing demand for organic acid-based food additives and flavor enhancers, rising popularity of organic acid-based cleaning agents and disinfectants, expanding applications in bio-based chemicals and materials, adoption of sustainable production methods and feedstock sourcing, advancements in fermentation and extraction technologies, development of new organic acid derivatives with enhanced properties, are the trends that aid in the market’s growth.
Browse in-depth TOC on “Organic Acid Market”
- Pages – 260
- Tables – 77
- Figures – 75
An organic acid is an organic compound that contains one or more carboxyl (-COOH) functional groups. The carboxyl group is a carbonyl group (C=O) bonded to an hydroxyl group (-OH). Organic acids are found in many naturally occurring substances, such as fruits, vegetables, and dairy products. They are also used in a variety of industrial and commercial applications, such as food and beverage processing, pharmaceuticals, and personal care products.
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Prominent Players in Organic Acid Market
- Cargill
- Eastman Chemical Company
- BASF SE
- Archer Daniels Midland Company
- Tate & Lyle PLC
- Henan Jindan Lactic Acid Technology Co. Ltd.
- Myriant Corporation
- Dow Chemical Company
- Kemin Industries, Inc.
- Hawkins Watts, Inc.
- Jungbunzlauer Suisse AG
- Qingdao Tianjiu Chemical Co., Ltd.
- Galactic
- Purac Biochem
- BioAmber, Inc.
- Perstorp Holding AB
- Novozymes A/S
- Naturex
- DuPont
- Lonza Group
- ADM Ingredients
- Solvay
Citric Acid Demand to Grow Substantially in the Forecast Period
Citric Acid dominated the global market owing to its high versatility in applications. It is extensively used as an acidulant, flavor enhancer, and preservative in the food and beverage industry. Its sour taste, pH-adjusting properties, and ability to extend shelf life contribute to its widespread usage in beverages, confectionery, sauces, and other food products.
Food and Beverage is the Leading Application Segment
In terms of application, the food and beverage is the leading segment due to the wide demands in applications. In addition, the global food and beverage industry is experiencing significant growth due to factors such as population growth, changing dietary patterns, and increasing disposable income. This growth fuels the demand for organic acids used in various food and beverage applications.
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Asia-Pacific is the leading Market Due to the Growing Population
Region-wise, Asia-Pacific is one of the largest growing markets with a growing population and rising disposable income. The region is known for its strong manufacturing capabilities and competitive advantage in production costs. Many organic acid manufacturers have established production facilities in the region, allowing for efficient and cost-effective production.
A recent report thoroughly analyzes the major players operating within the Organic Acid market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavors to develop innovative solutions that cater to the ever-increasing demand for Organic Acid .
Key Developments in Organic Acid Market
Tate & Lyle Extends Dietary Fibre Research Collaborated with APC Microbiome Ireland, a Science Foundation Ireland (SFI) Research Centre, through a new two-year research project to increase understanding of how dietary fibers can impact the functioning of the gut microbiome.
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Key Questions Answered in Organic Acid Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market’s future growth?
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