Robustly expanding various downstream industries, rising demand from food & beverage sectors coupled with growing demand for natural and eco-friendly additives to propel global organic acid market through 2026
According to TechSci Research report, “Global Organic Acid Market By Type, By End Use, By Region, Competition Forecast and Opportunities, 2012-2026”, global organic acid market is forecast to surpass $ 12.5 billion by 2026. On the basis of type of organic acid, the market has been segmented into acetic acid, citric acid, formic acid, lactic acid and others. Acetic acid is the most widely used type of organic acid among various end use industries, owing to its various functional properties such as sour taste, antimicrobial properties, etc. Acetic acid is the basic chemical compound and can be used as substrate to produce other intermediates for further applications in paints, adhesives and other end use industries. Growing number of organic acid production facilities and emerging application of distinct types of organic acid in various downstream industries are the major factors fueling consumption of organic acids, globally. Growth in global organic acid market can also be attributed to rise in demand for natural food additives and preservatives in cosmetics, drugs, beverages and other end use industries.
Browse 20 market data Tables and 256 Figures spread through 343 Pages and an in-depth TOC on "Global Organic Acid Market”
Organic acids such as citric acid, lactic acid, acetic acid and others are also used as flavoring agent, antioxidant and preservatives in beverage processing industries. Global beverage market stood at around 916 billion liters in 2015 and Asia-Pacific dominated the market, with a total consumption of 285.3 billion liters in the same year. Moreover, rising product innovations in beverage manufacturing and increasing consumer preferences towards consuming energy drinks and organic beverages are further propelling demand for organic acids across the globe. Pharmaceutical and personal care products manufacturing industries are other rapidly growing end use industries. Organic acids are majorly produced by microbial fermentation process and therefore, contains no chemicals compounds. Mounting demand for natural chemicals with no side effects in drugs manufacturing industry and expanding product range of organic cosmetics are further expected to accelerate demand for organic acids globally through the forecast period.
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“Asia-Pacific dominated global organic acid market due to growing demand for organic acid from various downstream industries and food & beverage sector coupled with increasing awareness various functional properties of organic acid. Countries such as China and India witnessed strong economic growth over the past few years, backed by increasing industrialization and rising per capita income in these countries. Moreover, increasing government initiatives to boost agricultural and food service sectors in these economies are expected to positively fuel demand for organic acid market in APAC region.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Organic Acid Market By Type, By End Use, By Region, Competition Forecast and Opportunities, 2012-2026” has evaluated the future growth potential of global organic acid market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global organic acid market.
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