Organic Acid Market Overview
According to the new report titled "Global Organic Acid Market by Type (Acetic Acid, Formic Acid, Propionic Acid, Ascorbic Acid, Lactic Acid, Citric Acid, Gluconic Acid, Fumaric Acid, Malic Acid & Others), By Application (Poultry & Farming, Pharma, Industrial and F&B), Global Analysis to 2023",
The valuation of the Organic Acid Market was $12.3 Billion in 2023 and is projected to reach $31.4 Billion by 2032, at a CAGR of 7.1% from 2021 to 2032.
In 2023, the global market for organic acids was worth an impressive $12.3 billion. Experts predict it will continue to grow rapidly, expanding at a rate of 7.1% each year for the foreseeable future. Organic acids are essential in the chemical industry, and their usage and variety are only increasing. These acids, like citric acid, acetic acid, and lactic acid, are used in everything from food and drinks to medicines and agriculture. They're essential for preserving food, enhancing flavors, and making medicines. The food and beverage industry, in particular, relies heavily on organic acids to keep their products fresh and tasty. As people become more health-conscious and prefer natural and eco-friendly options, the demand for organic acids has skyrocketed. Fortunately, thanks to technological advancements, we now have cost-effective and environmentally friendly ways to make these acids. The organic acid market is a competitive one, with companies constantly innovating and forming partnerships to stay ahead. As more industries focus on being eco-friendly and consumers demand cleaner products, the organic acid market is only going to grow and change even more.
Microbial Fermentation held the primary share in the Organic Acid Market
Technology has totally changed the way organic acids are made and used. We now make them in a cleaner, cheaper way thanks to things like better fermentation and biotechnology. Using microbes to ferment stuff is a big deal now for making organic acids. It uses less energy, is better for the environment, and can use stuff that grows back. We're also getting better at cleaning and separating organic acids, which makes them better quality. Scientists keep working on making the microbes and fermentation process better to get more and better stuff. All this tech stuff is making it possible to use organic acids in more things, like food, medicine, and farming, because people want stuff that's natural and doesn't hurt the planet.
North America headed the Organic Acid Market in 2022
The food and drink industry in North America is booming, and so is the demand for organic acids. These acids, like citric acid, acetic acid, and lactic acid, are essential for preserving food, adding flavor, and making pharmaceuticals. But it's not just the food industry that's driving the growth of organic acids. People are becoming more health-conscious and eco-friendly, so they're looking for natural and clean-label products. Organic acids fit the bill perfectly. Plus, scientists have found ways to make organic acids more efficiently and sustainably, which has helped the market grow even faster. The US and Canada are the two biggest players in the North American organic acid market. They have the experience and the infrastructure to produce these acids effectively. Some of the major companies in the organic acid market include DSM, Corbion, Cargill, BASF, and Myriant Corporation. These companies are working hard to meet the growing demand for organic acids and they're investing in research and development to find new and better ways to produce them.
Organic Acid Market Report Coverage
| ATTRIBUTES |
DETAILS |
| STUDY PERIOD |
2021-2030 |
| BASE YEAR |
2023 |
| FORECAST PERIOD |
2024-2030 |
| HISTORICAL PERIOD |
2021-2022 |
| UNIT |
VALUE (USD BILLION) |
| KEY COMPANIES PROFILED |
BASF, Dow Chemical, Cargill, Tate & Lyle, DuPont, Eastman, ADM, Calanese Corporation, Myriant Corporation, Henan Jindan Lactic Acid Technology |
| SEGMENTS COVERED |
By Type - Acetic Acid, Citric Acid, Formic Acid, Propionic Acid, Other
By Application - Food & Beverage, Petrochemicals, Pharmaceuticals, Textile, Others
By Geography - North America, Europe, APAC, Middle East Asia & Rest Of World. |
KEYPLAYERS
- BASF
- Dow Chemical
- Cargill
- Tate & Lyle
- DuPont
- Eastman
- ADM
- Calanese Corporation
- Myriant Corporation
- Henan Jindan Lactic Acid Technology.
Organic Acid Market Segmentation
By Type
- Acetic Acid
- Citric Acid
- Formic Acid
- Propionic Acid
- Other
By Application
- Food & Beverage
- Petrochemicals
- Pharmaceuticals
- Textile
- Others
By Geography
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Research Methodology
The qualitative and quantitative data of the Organic Acid Market is prepared through various research considerations such as subject matter expert advice, primary and secondary research. Primary research leverages valuable information from face-to-face and/or telephonic interviews and surveys, questionnaires, industry expert opinion, KOLs, customers, and others. Primary interviews are conducted regularly with industry experts to create in-depth expert information on the market and to substantiate the existing analysis of the data.
Secondary research done by Verified Market Reports research team through various sources such as
- Company websites, annual reports, financial reports, investor presentations and SEC filings
- Internal and external proprietary databases, relevant patent, and regulatory databases
- National government documents, statistical databases, and market reports
- News articles, press releases and web-casts specific to the companies operating in the market
- Paid database
