The global organic
acid market is expected to total US$ 11.3 Bn in 2022. Demand
for organic acid is forecast to increase at a steady CAGR of 5.3% over
the forecast period, with the organic acid market size reaching US$
18.8 Bn by 2032.
Organic acid is used in the food and
beverage sector as a preservative to prolong the shelf life of food without
altering its taste or flavour. It is also used in beverages due to its
anti-oxidizing and anti-bacterial properties.
These acids have multiple applications in
animal feed industry to inhibit bacterial growth and provide hosts with
nutritional content. They are used in cosmetics to get rid of dead cells and
nourish skin. Owing to these factors, demand for organic acids is expected to
rise in the forthcoming years.
Consumers are adopting a healthy
lifestyle and are conscious about the intake of any products that contain
chemical ingredients which be harsh on their skin or cause any side effects
because of daily consumption.
Consumer preference for brands that are
offering organic products without harmful chemical additives is expected to
influence the demand for organic acids. To fulfil rising consumer demand for
natural products, manufacturers are developing technologies and clean label
products that do not cause any harm to environment and human health.
Asia Pacific is expected to witness surge
in demand for organic acids due to less stringent policies. North America is
expected to be the hub for manufacturing and export of different organic acids
due to easy availability of infrastructure and technical know-how.
“Growing preference for clean label
products across the food & beverage sector, coupled with increasing
incorporation of organic acids in animal feed will steer growth in the market
over the forecast period,” says an FMI analyst.
Key Takeaways:
- The organic acid market is expected to grow
at CAGR of 5.2% and 4.2% in North America and the Latin America,
respectively, through 2032.
- Asia Pacific is expected to account for 30%
of the total organic acid market share share.
- The Europe organic acid market is expected
to reach a valuation of US$ 4.5 Bn over the forecast period.
- Total sales in the U.S. organic acids market
will reach a valuation of US$ 2.1 Bn in 2022.
- The India organic acid market valuation will
total US$ 1.07 Bn in 2022.
- By application, sales in the poultry and
farming segment are projected to account for 30% of the total market
share.
- Based on product type, demand for citric
acid will continue gaining traction.
Competitive Landscape
Key organic acid manufacturers are
focusing on research & development to offer various products with no
chemical additives. Key players are collaborating and developing new products
to penetrate untapped markets. For instance:
- Eastman Chemical Company announced the
acquisition of 3F Feed & Food, a European pioneer in the commercial
and technical producer of livestock feed and human food additives. 3F’s
operations and assets, which are based in Spain, will improve and support
Eastman’s animal nutrition industry’s sustained future demand and will be
integrated into the company’s Additives & Functional Products
division.
Explore More Valuable Insights
Future Market Insights, in its new
report, offers an impartial analysis of the global reduced fat butter market,
presenting historical data (2017-2021) and estimation statistics for the
forecast period of 2022-2032.
The study offers compelling insights
based on Product Type (Lactic Acid, Formic Acid, Acetic Acid,
Citric Acid, Propionic Acid, Ascorbic Acid, Gluconic Acid, Fumaric Acid),
Application (Poultry and Farming, Pharmaceuticals, Industrial, Food &
Beverages)Region (North America, Latin America, Europe, East Asia, South Asia,
Oceania, MEA).
Read More: https://www.futuremarketinsights.com/reports/global-organic-acids-market