Organic Acids Market - Global Opportunity Analysis, Size, Share, Growth, Trends, and Industry Forecast 2017 - 2022

Friday, November 17, 2017 1:03 PM UTC

LONDON, Nov. 17, 2017 -- 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.

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.

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Geographically, the global organic acids market is segmented into five major regions, namely North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. 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 mainly due to its growing economy, rapid industrialization, rural migration & urbanization, growing application industries, and increasing investments by the key players in the region.

The key players in the global organic acids market are Archer Daniels Midland Company, Cargill, Incorporated, Polynt- Reichhold, E. I. du Pont de Nemours and Company, Tate & Lyle PLC, Myriant Corporation, Eastman Chemical Company, Henan Jindan Lactic Acid Technology Co., Ltd, BASF SE, The Dow Chemical Company, Celanese Corporation, Koninklijke DSM N.V., Corbion N.V, and BioAmber Inc.

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