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Organic Acids Market

Organic Acids Market

Increased Demand from Food & Feed Industry to Spur the Organic Acids Market Growth during 2021-2031

Organic Acids Market
FACT4285MR

Market Snapshot

Fact.MR’s industry analysis reveals that the global organic acids market is projected to reach a valuation of US$ 17 Bn by 2031, expanding at a CAGR of 6% across the 2021 to 2031 assessment period.

Organic acids are widely used in the food & beverages industry due to their versatile antioxidant properties. There are over 600 organic acids available globally, and the food & beverages industry consumes over 45% of these organic acids.

Key Points Covered in Organic Acids Industry Survey:

  • Market Estimates and Forecasts (2016-2031)
  • Key Drivers and Restraints Shaping Market Growth
  • Segment-wise, Country-wise and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Market Share Analysis
  • Assessment by Product Grade / Purity / Formulation Standards
  • Assessment of Import Price, Bulk Price, Contractual Price, Producer / Distributor Price
  • Leading Export - Import Destinations
  • Certifications and Compliance Requirements
  • COVID-19 Impact on Demand for Organic Acids and How to Navigate
  • Recommendation on Key Winning Strategies

Know More Details About the Report

Consumption Analysis of Organic Acids from 2016 to 2020 Vs Market Outlook for 2021 to 2031

As per Fact.MR – a market research and competitive intelligence provider, the organic acids market was valued at US$ 10 Bn in 2020 and is anticipated to expand at a CAGR of 6% from 2021- 2031.

Demand for organic acids has increased gradually over past few years owing to the growing application in the food & beverage industries. Organic Acids are widely used for regulating the acidic content of foods and also to enhance flavour.

The antioxidant and preservative properties of organic acids make them highly preferred in the food manufacturing industry, boosting market growth.

Furthermore, demand for organic acid is also likely to be high from the pharmaceutical sector, as the use of organic acids in drugs such as phenacetin and aspirin is on the rise.

Expansion in the food & beverage industry and rise in production of soft drinks and food products are major factors that boost the global market. Moreover, adoption of solar power and energy codes in roofing systems continues to augment market growth.

Furthermore, organic acids are useful in regulating acidity and are used as antioxidants, preservatives, and flavour enhancers in a number of bakery and confectionery products. Also, use of organic acids in livestock feed manufacturing is a rising trend in the animal food industry, which is further nudging market growth.

These factors are estimated to enhance demand for organic acids during the forecast period, creating various growth opportunities for organic acid manufacturers.

How are Bio-based Versions of Organic Acids Attracting Investments and Collaborations in the Market?

Organic acids are increasingly being synthesized from renewable bio-based methods. Growing environmental concerns are driving growth in this market.

Bio-based organic acids produced from wheat or corn is a green as well as cheaper replacement for petrochemical or conventionally derived organic acids. Bio-based organic acids provide environmental advantages as they are produced from renewable feedstocks. The manufacturing process produces very little toxic waste and the organic acid produced from renewable source has similar chemical properties as compared with organic acids derived from conventional sources.

These organic acids are used as building block chemical for producing many speciality and commodity chemicals that are used in a wide range of applications namely polymers, food, metals, pharmaceutical, coatings, fibers, solvents, lubricating oils, diesel fuel oxygenates, cosmetics, and so on.

Owing to these factors, the bio-organic acid market is expected to grow across the forecast period, creating lucrative investment and collaboration opportunities for manufacturers.

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How Will Niche Applications of Organic Acids Bring Lucrative Opportunities for Suppliers?

Apart from the food & beverages industry, organic acids find numerous applications in diverse industries such as paints & coatings, feed, adhesive & sealants, textiles, consumer goods, and many more.

Acetic acid finds a vast application in the production of vinyl acetate monomer (VAM), terephthalic acid, and ethyl acetate. Organic acids, such as formic acid and citric acid, are mainly used in animal feed as a preservative. Formic acid also finds applications in deicing, oil-drilling, leather tanning, etc.

Lactic acid sees massive demand in the production of polylactic acid. It is also used as an acidifier in cosmetic applications and disinfectant in pharmaceuticals. Propionic acid other than food and feed application, is widely used in the production of propionate esters for solvents, such as n-butyl and pentyl propionate.

Other organic acids such as ascorbic acid, acetic acid, gluconic acid, fumaric acid, and malic acid also find numerous applications in diverse industries that bring growth prospects for the overall market.

Such varied niche applications of organic acids are expected to present lucrative opportunities for organic acid suppliers.

What are the Regional Developments and Insights in the Market for Organic Acids?

The primary application of organic acids is in feed additives and food & beverages, and hence, regulatory policies on food safety have a significant impact on the development of the market for organic acids.

North America holds a majority share in the global market owing to the presence of advanced production technologies and huge demand from end-use industries. Europe, on the other hand, due to the stringent regulations, will witness stagnant growth over the coming years.

Asia Pacific excluding Japan is the most attractive region for organic acids. Emerging economies of China and India, large expansion plans in China, and growing demand for organic acids due to huge population remain key factors for the growth of the market in the region.

China is expected to hold around 40% share of global organic acid production over the coming years, followed by North America.

The Middle East & Africa, due to the steady supply of raw materials, will witness profitable growth over the assessment period. Manufacturers of organic acids see a vast growth opportunity in Latin America, owing to rising urbanization and growth in the food & beverages industry in the region.

Organic acids market by Fact.MR

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Country-wise Analysis

What is the Organic Acids Production Analysis in Brazil?

Brazil organic acids market share accounts for 23% of the global market. High demand for organic acids in the country can be attributed to the presence of major organic acid manufacturing companies in the country.

Also, many R&D projects are going on in the country for the development of bio-organic acids synthesized from renewable bio-based methods.

Category-wise Analysis

Which Organic Acid Dominates the Global Market?

Acetic acid dominates the market and is expected to continue its dominance in over the next ten years. Acetic acid is widely used in various applications such as production of synthetic fibers and polymeric materials.

Also, owing to its properties such as pH controller, antioxidant, and preservative, demand for acetic acid has been increasing significantly in the food & beverage and animal products industries.

Why Does the F&B Sector Remain a Major Hotspot for the Global Organic Acids Market?

The food & beverages industry is one of the key end users of organic acids. Rising global population coupled with GDP growth will pique demand for organic acids over the coming years.

Also, high growth witnessed in the pharmaceutical industry is expected to augur well for the market, owing to increasing use of organic acids in various drugs such as aspirin and phenacetin.

Meanwhile, demand for organic acids will continue to scale in the food and beverages industry due to increasing use in the production of soft drinks and various food products. Acetic acid accounted for the largest share in terms of demand for organic acids. Its increased use in the food & beverages industry, owing to its antibacterial and antifungal properties, is a significant growth attribute for the market.

Also, organic acid-fortified food & beverages have many health benefits, and hence, consumer demand for organic acid-fortified food & beverages has increased over the past few years.

In the bakery and confectionery industry, both, acetic and citric acid are used for the prevention of fungal and bacterial growth. Other than their use for antibacterial and antifungal properties, organic acids are also useful in regulating acidity, used as food preservatives, antioxidants, and flavour enhancers in several food products.

On account of the several health benefits of organic acids, demand for organic acids in food applications will further propel market growth over the coming years.

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Competitive Landscape

Key organic acids manufacturing companies are mainly involved in research & development activities to develop new production technologies and cater to the growing needs of end-use industries.

Moreover, manufacturers are also entering into long-term partnerships with end-use industries, global players, and raw material suppliers to have a strong presence in the worldwide market.

Some of the key developments are:

  • In November 2018, Celanese Corporation, a chemical and specialty materials company announced the expansion of production facility of acetic acid at Clear Lake, Texas from 1.3 million tons to 2 million tons by late 2021. Moreover, the company has recently announced the acquisition of synthetic gas production units from Linde plc, an industrial gas company. This acquisition will enable the company to reduce the production cost of acetic acid as syngas is the key raw material.
  • In May 2019, BASF-YPC, a 50:50 joint venture in Nanjing, China announced the startup of 30 kilotons production plant of propionic acid. The total production capacity of two plants increased to 69 kilotons per annum.
  • In July 2019, Royal DSM, a science-based company in nutrition, health and sustainable living announced the upgradation of its vitamin C (ascorbic acid) facility in Jiangshan, China to enhance quality, safety, sustainability, and production efficiencies.

Organic Acids Market Report Scope

Report Attribute

Details

Market size value in 2020

USD 10 Billion

Market forecast value in 2031

USD 17 Billion

Growth Rate

CAGR of 6% from 2021 to 2031

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

US$ Mn for Value & ‘000 Units for Volume

Key Regions Covered

  • North America
  • Europe
  • Asia Pacific
  • Central & South America
  • Middle East & Africa

Key Countries Covered

  • USA
  • Canada
  • Germany
  • France
  • the UK
  • Russia
  • Italy
  • China
  • Japan
  • South Korea
  • India
  • Australia
  •  Middle East
  • Latin America

Key Market Segments Covered

  • Product
  • Application
  • Region

Key Companies Profiled

  • BASF SE
  • Cargill
  • The Dow Chemical Company
  • Eastman Chemical Company
  • Myriant Corporation
  • Celanese Corporation
  • Archer Daniels Midland Company
  • Henan Jindan Lactic Acid Technology Co. Ltd.
  • Tate & Lyle Plc.
  • E. I. Du Pont De Nemours and Company

Pricing

Available upon Request

Key Segments Covered in Organic Acids Industry Research

  • By Product

    • Organic Acetic Acid
    • Organic Formic Acid
    • Organic Lactic Acid
    • Organic Citric Acid
    • Organic Propionic acid
    • Organic Ascorbic acid
    • Organic Gluconic acid
    • Organic Fumaric acid
    • Organic Malic acid
  • By Application

    • Bakery and Confectionery
    • Dairy
    • Beverages
    • Poultry, Meat, and Seafood
    • Livestock Feed
    • Companion Animal Feed
    • Pharmaceuticals
    • Industrial

Organic Acids Market- Scope of Report

A recent study by Fact.MR on the organic acids market offers a 10-year forecast for 2021 to 2031. The study analyses crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with offering organic acids.

The study also provides the dynamics that are responsible for influencing the future status of the market over the forecast period. A detailed assessment of value chain analysis, business execution, cost structure analysis, and supply chain analysis across regional markets has been covered in the report.

A list of prominent companies offering organic acids, along with their product portfolios, key strategies, and SWOT analysis enhances the reliability of this comprehensive research study.

Report Summary

The study offers comprehensive analysis on diverse features, including revenue growth, and revenue generation across the globe.

A comprehensive estimate on the market has been provided through an optimistic scenario as well as a conservative scenario, taking into account revenue from organic acids during the forecast period.

Key Questions Answered in Report

  • Which are the most lucrative markets for organic acids?
  • Which factors will impact the demand of organic acids?
  • How will changing trends impact the strategies of market players?
  • How can market players capture the low-hanging opportunities across regions?
  • Which companies are leading the organic acids industry?
  • What are the winning strategies of stakeholders in the market?

Market Size Evaluation

The market has been analysed for each market segment in terms of volume (`000units), and value (US$ Mn).

Market estimates at global and regional levels for organic acids are available in terms of “US$ Mn” for value and in ‘’’000 units for volume. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the revenue perspective in the global organic acids market.

Inspected Assessment on Regional Segments

Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic and business environment outlook), which are expected to have a momentous influence on the growth of the market during the forecast period.

Country-specific valuation on revenue for organic acids have been offered for each regional market, along with market scope estimates and forecasts, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.

Detailed breakup in terms of value for key countries has also been included in the report.

Competition Analysis

The report sheds light on leading providers of organic acids, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in offering organic acids have been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take pre-emptive steps in advancing their businesses.

Company profiles have been included in the report, which include essentials such as product portfolios and key strategies, along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all the prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting the market status, and predicting the competition level in the organic acids market.

- FAQs -

The global organic acids market is expected to reach a valuation of US$ 17 Bn by 2031.

Rising demand for organic acids in the healthcare sector and growing application in the food & beverage industry is being witnessed.

Top organic acid suppliers are Cargill, EI Du Pont De Nemours, Archer Daniels Midland Company, Corbion N.V., Daicel Corporation, Eastman Chemical Company, and BASF SE., as per ratings on the basis of market share, market reach, clientele, etc.

BASF SE is the top company manufacturing organic acids for drugs in Germany.

Market valuation for organic acids in the U.S. is expected to reach US$ 6 Bn by 2031.

Production of synthetic organic acids by catabolism of amino acids is the most preferred method.

The Canada organic formic acid market is expected to expand at a CAGR of 4.6% across the analysis period.

Pal Enterprise, IFCCO. Ltd., and Chemicals India are the main organic acid manufacturing companies for drugs in India.

The France organic propionic acid market is expected to expand at a CAGR of 3.5% across the forecast period.

The U.K. organic gluconic acid market accounts for 25% of global revenue share.

Commercial production of organic acids is done either by chemical synthesis or fermentation.

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Is the market research conducted by Fact.MR?

Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

What research methodology is followed by Fact.MR?

Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

What are the sources of secondary research?

Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.

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