The global organic acids market is expected to grow at a CAGR of 7.8%, from USD 23.21 billion in 2020 to USD 42.11 billion in 2027.
NEW YORK CITY, NEW YORK, USA, Sept. 23, 2022 /EINPresswire.com/ — According to current reports and data analysis, the global organic acids market was valued at USD 23.21 billion in 2020 and is expected to reach USD 42.11 billion by 2027, at a CAGR of 7.8%. Organic acids have a wide range of applications in industry. Organic acids produced by synthesis are commonly used as catalysts, surfactants and dyes. Those produced by the fermentation process of microorganisms are widely used in various processes in the food and beverage industry. The organic acids market is predicted to witness a favorable growth scenario in the Asia-Pacific market, as the region has a surging demand for food and beverages, which is an important application of organic acids.
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The organic acids market is witnessing relative leniency in regulatory and approval standards, which is driving the growth of the market forward. These acids are increasingly being used in the pharmaceutical and cosmetic industry, further accelerating the growth of the market. The leading companies in the organic acids market are majorly focusing on the qualitative enhancements of the products for effective applicability in the related end-use segments.
All companies involved in the processing, packaging and distribution of food raw materials fall under the food and beverage sector. Fresh, packaged meals, as well as alcoholic and non-alcoholic beverages, are all included. Apart from drugs, this industry affects all products intended for human consumption.
Due to the current economic depression caused by the Covid-19 outbreak, consumers are looking to save as much money as possible. Consumers do this in a variety of ways, including buying more generic products and cooking their own meals instead of going out. As a result, food processing companies are becoming more creative in order to reduce the cost of goods sold, attract more customers and increase their profit margins.
Obesity has a huge impact on the global food and beverage industry. The desire for healthy foods has increased, as has the demand for more detailed nutritional information. Companies have responded by launching low-calorie foods and tightening control over how their brand is perceived in response to these two changes. Companies want to be seen as a healthy brand, so they support activities that show it, like youth sports. There has even been talk of imposing a tax on foods linked to obesity to deter people from eating them.
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Some of the major market players are listed below:
• Aryan International,
• BASF SE,
• Tate & Lyle,
• Dow Chemical Company,
• Eastman Chemical Company,
• Myriant Corporation,
• Better cooperation from Zhengzhou
Market segmentation :
Product Type Outlook (Revenue: USD Billion; Volume: Kilotons; 2018-2027)
• Formic acid
• Citric acid
• Lactic acid
• Gluconic Acid
• Pyruvic acid
Source Type Outlook (Revenue: USD Billion; Volume: Kilotons; 2018-2027)
• Chemical synthesis
• Agro-industrial residues
Application Outlook (Revenue: USD Billion; Volume: Kilotons; 2018-2027)
• Food and beverage industry
• Animal feed
• Chemical industry
• Pharmaceutical products
• Personal care
The report is drafted with the help of industry analysts, market segmentation, and data collection to help readers make profitable business decisions. The report includes a comprehensive database of technical advancements and products. It also provides insights on growth rates and market value along with an in-depth look at niche market segments. The report provides strategic advice to newcomers and existing businesses on how to make profitable and well-informed business decisions.
The Organic Acids market has been segmented into key regions globally and offers analysis on growth rate, market share, current and emerging trends, production and consumption ratio, industry chain analysis, demand and supply, import and export, revenue contribution and presence of key players in each region. Country-wise market analysis is offered in the report to better understand the regional spread and progress of the Organic Acids market.
Global Organic Acids Market is segmented into:
• North America (United States, Canada, Mexico)
• Europe (Italy, UK, Germany, France, Rest of Europe)
• Asia-Pacific (China, India, Japan, South Korea, Australia, rest of APAC)
• Latin America (Chile, Brazil, Argentina, Peru, rest of Latin America)
• Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, Rest of MEA)
Key questions addressed in the report:
• What are the dominant factors influencing industry growth?
• During the forecast period, which market segment is expected to grow the most?
• What are the risks and challenges facing the industry?
• In the coming years, which area is expected to dominate the market?
• Who are the main market players? What kinds of strategic business plans have they developed?
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