Organic Acids Market - Snapshot
Organic acid is a type of organic compound that typically has acidic properties. Organic acids are known as weak acids, as they do not disassociate in water completely. For instance, carboxyl acid is a common example of organic acid. Commonly used organic acids are acetic acid, lactic acid, and citric acid. Organic acids are used in a wide range of applications such as bakery, dairy, livestock feed, beverages, and pharmaceuticals. They are either produced naturally or synthetically. They are produced naturally through the fermentation process by several microorganisms. They are synthetically produced on a wide scale for commercial applications such as catalysts, dyes, surfactants, and others.
Organic acids are widely used for regulating the acidic content of foods and also to enhance flavor. The antioxidant and preservative properties of the compounds makes them highly preferred in the food manufacturing industry, thereby boosting the organic acids market. A rise in the global population and GDP growth in developing economies are anticipated to drive demand for organic acids during the forecast period. Furthermore, demand for organic acids is also likely to be high from the pharmaceutical sector, due to their use in various drugs such as phenacetin and aspirin.
Expansion in the food & beverage industry and rise in production of soft drinks and food products are major factors boosting the global organic acids markets. Moreover, adoption of solar power and energy codes in roofing systems continues to augment the organic acids market. Increase in the consumption of acetic acid in the food & beverage sector is likely to propel the organic acid market in the coming years. Acetic acid is significantly consumed, owing to its antibacterial and antifungal properties. Furthermore, organic acids are useful in regulating acidity and are used as antioxidants, preservatives, and flavor enhancers in a number of food products. These factors are estimated to augment the organic acids market during the forecast period.
However, stringent regulations implemented by governing bodies to limit the use of synthetic organic acids are likely to restrain the market in the next few years. This is because the synthetic variants of organic acids are produced from non-renewable sources and are hazardous to the environment. However, advancements, investments, and developments in the bio-based organic acid are likely to provide lucrative opportunities to the organic acids market in the near future.
The global organic acids market has been segmented based on product type, application, and region. In terms of product type, the market has been divided into acetic acids, citric acids, formic acids, propionic acids, lactic acids, fumaric acids, ascorbic acids, gluconic acids, and others (butyric acid, uric acid, oxalic acid, tartaric acid, etc.). Acetic acid was a dominant segment of the global market in 2017. In terms of application, the global organic acids market has been classified into bakery & confectionery, dairy, beverages, poultry, meat, and seafood, livestock feed, animal feed, pharmaceuticals, industrial, and others (packaging, cosmetics, textile, etc.). Bakery & confectionery was a leading segment of the market, accounting for about 25% of the market share in 2017. Organic acids are frequently used to ensure both product palatability and preservation in the beverage industry. Moreover, an increase in demand for flavoring agents in the food industry is driving the market. Organic acids are also widely consumed in animal and livestock feed, owing to their decreased pH values and as preservatives. Thus, demand from the animal feed and livestock feed segments is expected to drive the organic acids market during the forecast period.
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In terms of region, the global organic acid market has been segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Demand for organic acids from Asia Pacific was significant in 2017. A rise in the population in China and India, changing lifestyle, and expansion of the food & beverage sectors are major factors driving demand for organic acids in Asia Pacific. Increase in the number of regulations to limit the use of synthetic organic acids has led to moderate growth of the organic acids market in North America and Europe. However, the demand for bio-based organic acids is likely to increase in these regions during the forecast period. Middle East & Africa is expected to be a prominent region of the global organic acids market during the forecast period, due to expansion of the food & beverage sector and increase in health care expenditure in the region. This is also projected to create significant opportunities for organic acids manufacturers in the near future.
Key players profiled in the report on the global organic acids are Archer-Daniels-Midland Company, Cargill Incorporated, BASF S.E., BioAmber Inc, Genomatica, Inc., Henan Jindan Lactic Acid Technology Co., Ltd., Fuso Chemical Co., Ltd., Koninklijke DSM N.V., Celanese Corporation, Corbion, DowDuPont Inc., Eastman Chemical Company, Elekeiroz SA, LUXI Group, GC Innovation America, NatureWorks LLC, Polynt SpA, and Tate & Lyle.
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