Organic Acids Market Worth USD 20,232.6 Million By 2022
The global organic acids market is expected to reach USD 20,232.6 million by 2022, at a CAGR of 7.1% during the forecast period of 2017 to 2022, according to this latest publication from Meticulous Research®. The organic acids market is mainly driven by the growing use of organic acids in the wide range of applications, increasing focus on producing bio-based organic acids, growing use of dietary microencapsulated organic acids, and increasing demand from developing economies. Further, increasing production of organic acid from renewable sources provides significant opportunities in this market. However, fluctuating raw material prices & availability, and the high price of organic acids are expected to hinder the growth of organic acids market to some extent.
Market Segmentation
The global organic acids market is mainly segmented by type (acetic acid, citric acid, propionic acid, formic acid, lactic acid, ascorbic acid, fumaric acid, malic acid and others), by application (industrial and chemicals, food & beverages, animal feed & nutrition, pharmaceuticals, cosmetics and personal care, and agriculture).
Acetic acid dominates the global organic acids market and is expected to continue its dominance in the next five years. Acetic acid is widely used in various applications such as the production of synthetic fibers and polymeric materials. Also, owing to their properties such as pH controller, antioxidant, and preservative; the demand for organic acids has been increasing significantly in the food and beverage and animal products.
Geographic Overview
Geographically, the global organic acids market is segmented into five major regions, namely North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. These regions are further analyzed at a country level with the detailed qualitative and quantitative analysis. Asia Pacific region accounted for the major share in the global organic acids market in 2016, followed by North America, and Europe. The region is also projected to grow at the fastest CAGR during the forecast period. The major share and fast growth of this region are mainly attributed to its growing economy, rapid industrialization, rural migration & urbanization, growing food and beverages, pharmaceutical, and animal feed industries; and increasing investments by the key players in the region.
Scope of Organic Acids Market Report:
Organic Acids Market by Product type:
Acetic acid
Citric acid
Propionic acid
Formic acid
Lactic acid
Ascorbic acid
Fumaric acid
Malic acid
Others
Organic Acids Market by Application:
Industrial & chemicals
Food & Beverages
Animal feed & nutrition
Pharmaceuticals
Cosmetics & personal care
Agriculture
Organic Acids Market by Geography:
North America
U.S.
Canada
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
India
Rest of Asia-Pacific
Rest of World
Middle-East & Africa
Latin America
Brazil
Argentina
Chile
Rest of Latin America
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