Organic Acids

Global Organic Acids Market is Expected to Rise at a CAGR of 5.9% During 2022-2028

  • Organic Acids Market

TheGlobal Organic Acids Marketis valued atUSD 11.02 Billionin 2021 and is expected to grow at a Compound Annual Growth Rate (CAGR) of5.9%between 2022 and 2028. Citric acid, acetic acid, lactic acid, tartaric acid, malic acid, gluconic acid, propionic acid, and fumaric acid are some of the most widely used organic acids in the manufacture of drugs, textiles, and adhesives. These acids are commercially produced either by mixing chemicals or by agro-industrial residues. However, fermentation processes are the most widely used methods. In addition, organic acids in the tricarboxylic acid cycle can be produced with high yields in microbiological processes.

The Global Market for Organic Acid is driven primarily by its growing use in packaged foods due to its antioxidant properties, preservation, acid control, taste enhancement, and much more. The high growth in the pharmaceutical industry also exacerbates the demand for organic acids, due to their active properties such as lactic acid commonly used in the pharmaceutical industry. In addition, the use of organic acids in the textile industry, food, and personal care is also impressive. Citric acid is one of the most widely used additives in the food and beverage industry, both as acidic and preservative to improve the shelf life of a snack, due to its low toxicity, in comparison. It is found in non-alcoholic beverages and in jams, in gelatinous desserts, and canned vegetables and fruits. It also plays a key role in improving taste, especially in the beverage industry, as it provides a sour and refreshing taste, which reduces the sweetness of many beverages. Also, regulatory agencies, such as the US Food and Drug Administration (FDA) regard citric acid as a natural safe food in the diet, thus favoring the market growth. In addition, the use of citric acid in processed frozen foods and as an addition to other fats and oils enhances the action of antioxidants, effectively reducing the rate of degradation of these products. Also, European Union law stipulates that citric acids are allowed in beer additives and malt beverages. Therefore, increasing demand for malt beverages will improve the market growth.

The Global Organic Acids Market is segmented on the basis of applications into food and beverages, medicines, fabrics and substitutes, and others like animal feed, petrochemical, etc. While on a product basis the market is divided into 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. The market for organic acid has expanded over the regions of North America, South America, Europe, Asia Pacific, and the rest of the world.

Asia Pacificholds the largest market share in the global organic acid market due to increased consumption of processed foods and increased regional revenue. Also, according to a study by the Associated Chambers of Commerce and Industry of India (ASSOCHAM), due to rising vegetable prices, people are turning to alternatives to ginger-garlic pastes, tomato purees, and ketchup. Therefore, a share of45.6%of total revenue in 2021 led to a continuous market for organic acids in the region.

Some of the major players operating in the Global Organic Acids Market include -Koninklijke DSM N.V. (Netherlands), BASF SE (Germany), Cargill (US), Henan Jindan Lactic Acid Technology Co. Ltd (China), the Dow Chemical Company (US), Archer Daniels Midland Company (U.S.), Myriant Corporation (U.S.), Eastman Chemical Company (U.S.), Corbion N.V. (Netherlands).