According to a new market report published by Lucintel, the future of the organic acids market looks promising with opportunities in the food and beverage industry, animal feed, the chemical industry, pharmaceuticals, personal care, agriculture, and others. The global organic acid market is expected to grow with a CAGR of 8% from 2020 to 2025. The major drivers for this market are increasing demand for convenience food and technological innovations, and production of organic acids from cost-effective renewable sources are other factors driving the market growth.
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In this market, formic acid, citric acid, lactic acid, acetic acid, gluconic acid, itaconic acid, others, propionic acid, succinic acid, pyruvic acid are the major product types. Lucintel forecasts that acetic acid will remain the largest segment over the forecast period because owing to its antibacterial and antifungal properties, that is a significant growth attribute for the market.
Within this market, food and beverage, pharmaceutical, beauty and personal cares, animal feed, and others are the major applications of organic acids. Food and beverage will remain the largest segment by application type over the forecast period due to increased consumer demand for organic acid-fortified food and beverage, owing to their antioxidant and preservative properties.
Asia-Pacific is expected to witness the highest growth over the forecast period due to growing consumer awareness about the benefits of organic acids, availability of products, and high consumption of organic acid product, relatively lower operational costs in this region that enable manufacturers to have competitive pricing on a global platform.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global organic acid market by product type, application, and region. Lucintel has prepared a comprehensive research report titled “Growth Opportunities in the Global Organic Acid Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global organic acid market by product type, source type, application, and region as follows:
By Product Type [Value ($ Million) shipment analysis for 2014 – 2025]:
Formic Acid
Citric Acid
Lactic Acid
Acetic Acid
Gluconic Acid
Itaconic Acid
Propionic Acid
Succinic Acid
Pyruvic Acid
Others
By Source Type [Value ($ Million) shipment analysis for 2014 – 2025]:
Biomass
Molasses
Starch
Chemical Synthesis
Agro-Industrial Residue
By Application [Value ($ Million) shipment analysis for 2014 – 2025]:
Food and Beverage
Chemical Industry
Agriculture
Pharmaceutical
Beauty and Personal Cares
Animal Feed
Others
By Region [Value ($ Million) shipment analysis for 2014 – 2025]:
United States
Canada
Mexico
Germany
United Kingdom
France
Italy
Spain
Brazil
Argentina
South Africa
A more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or visit us at helpdesk@lucintel.com.
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