According to IMARC Group’s latest report, titled “Organic Acids Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global market exhibited moderate growth during 2015-2020. Organic acids refer to a strong, insoluble organic compound, which is manufactured through fermentation of molasses, starch, biomass, and agro-industrial residues, like sugarcane, citric and fruit peels. It is used in the food and beverage (F&B) sector for enhancing the shelf life of food products. Some of the commonly utilized organic acids encompass formic, gluconic, lactic, benzoic, and gluconic acids.
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The increasing utilization of organic acids as an alternative to antibiotic growth promoters (AGP) in animal feed and the rapid growth in the food and beverage (F&B) sector are primary factors driving the market growth. Additionally, the widespread adoption of organic acids in personal care and cosmetic products is providing a significant boost to the market growth. Apart from this, numerous initiatives undertaken by the governments of various countries for promoting the production of bio-based organic acids from renewable resources are creating a positive outlook for the market. Looking forward, IMARC Group expects the global organic acids market to grow at a CAGR of around 5% during 2021-2026.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
- 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
- The Archer-Daniels-Midland Company.
- Acetic Acid
- Citric Acid
- Formic Acid
- Lactic Acid
- Gluconic Acid
- Fumaric Acid
- Itaconic Acid
- Chemical Synthesis
- Argo-Industrial Residue
- Food and Beverage
- Animal Feed
- Chemical and Industrial
- Personal Care
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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