Organic Acids Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Organic Acids Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global organic acids market size reached US$ 24.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 39.5 Billion by 2028, exhibiting a growth rate (CAGR) of 8.14% during 2022-2028.

Organic acids refer to organic compounds with low molecular mass and weak acidic properties. They can be produced through fermentation of biomass, molasses, starch or agro-industrial residues, such as cassava bagasse, coffee husk, apple pomace, soybean, sugarcane, corn cobs, press-mud, wheat bran, citric pulps and fruit peels. Some of the commonly used organic acids include carboxyl, formic, lactic, propionic, gluconic, malic and benzoic acid. Organic acids are highly beneficial in the stimulation treatments of oil and gas and chelating metallic ions. They are widely used as antioxidants, acidulants, emulsifiers, flavor enhancers and preservatives. In comparison to the traditionally used mineral acids, organic acids are less reactive and can be used in extreme temperatures. As a result, they find extensive application in the manufacturing of food and beverages, animal feed and pharmaceuticals.

Organic Acids Market Trends:
Significant growth in the food and beverage industry across the globe is one of the key factors creating a positive outlook for the market. Due to the hectic schedules and busy lifestyles, there is an increasing consumer demand for ready-to-eat (RTE) food products manufactured using organic acids for preventing the growth of bacteria. Moreover, the widespread product adoption as a substitute for antibiotic growth promoters (AGP) in animal feed is also contributing to the growth of the market. In line with this, the rising preference for multifunctional cosmetic and personal care products fortified with citric and formic acids is also contributing to the growth of the market. Other factors, including the implementation of favorable government policies promoting the manufacturing of bio-based organic acids through renewable resources, along with the increasing product utilization for the production of various intermediates and petrochemical products, are anticipated to drive the market toward growth.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global organic acids market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, source and end user.

Breakup by Type:

Acetic Acid
Citric Acid
Formic Acid
Lactic Acid
Gluconic Acid
Fumaric Acid
Itaconic Acid
Others

Breakup by Source:

Biomass
Molasses
Starch
Chemical Synthesis
Agro-industrial residue

Breakup by End User:

Food and Beverage
Animal Feed
Chemical and Industrial
Pharmaceuticals
Personal Care
Agriculture
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being BASF SE, Cargill Incorporated, Celanese Corporation, Dow Inc., Koninklijke DSM N.V., DuPont de Nemours Inc., Eastman Chemical Company, Henan Jindan Lactic Acid Technology Co. Ltd., Tate & Lyle PLC and The Archer-Daniels-Midland Company.

Key Questions Answered in This Report
1. What was the size of the global organic acids market in 2022?
2. What is the expected growth rate of the global organic acids market during 2023-2028?
3. What has been the impact of COVID-19 on the global organic acids market?
4. What are the key factors driving the global organic acids market?
5. What is the breakup of the global organic acids market based on the type?
6. What is the breakup of the global organic acids market based on the source?
7. What is the breakup of the global organic acids market based on end user?
8. What are the key regions in the global organic acids market?
9. Who are the key players/companies in the global organic acids market?