“Global Organic Acid Market Analysis & Opportunity Outlook 2021”
The global organic acid market is segmented by type such as acetic acid, formic acid, citric acid, lactic acid, propionic acid, gluconic acid, others. Further, acetic acid segment among other sub-segments is predicted to grow at maximum pace over the forecast period. Acetic acid is a main component of vinegar. Further, this growth of acetic acid segment can be attributed to its wide range of industrial applications such as perfume industry, ink & dyes and medical uses. Apart from this, increasing use of acetic acid as a chemical reagent in production of various chemical compounds is expected to enhance the growth of this segment in near future.
Global organic acid market is expected to attain 6.1% CAGR over the forecast period. Moreover, the global organic acid market is expected to reach at USD 9.5 Billion by the end of 2021. The market is expected to expand on the back of increasing usage of acetic acid in production of food & beverage products. Uses of organic acid for food preservation and as a flavor enhancer in food items are some of the major applications of organic acid in food & beverage industry which are envisioned to drive the growth of global organic acid market during the forecast period.
The food & beverages segment by application grabbed major market shares in 2016. Extensive use of organic acid in production of food & beverage items is predicted to bolster the growth of this segment in near future. Apart from this, other applications such as pickling and in production of organic compounds are intensifying the growth of this segment.
Growing Chemical Industry
The adoption of organic acid is increasing in chemical industries. Use of organic acid for the production of various chemical compounds such as vinyl acetate monomer, acetic anhydride and ester is a key factor which is intensifying the growth of global organic acid market in upcoming years.
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Wide Scale Applications
A number of industrial applications of organic acids as preservative, acidity regulator, antioxidant, flavor enhancer, coating, and in the production of biopolymers is a major driver of the global organic acid market.
However, stringent government sources to control manufacturing of organic acids from non-renewable sources is likely to limit the growth of the organic acid market in the near future.
The report titled “Global Organic Acid Market Analysis & Opportunity Outlook 2021” delivers detailed overview of the global organic acid market in terms of market segmentation by type, by source, by application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global organic acid market which includes company profiling of Cargill, The Dow Chemical Company, BASF SE, Tate & Lyle Plc, Myriant Corporation, Archer Daniels Midland Company, Eastman Chemical Company, Corbion and Jungbunzlauer Suisse AG. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global organic acid market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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