Organic Acids Market - Forecasts from 2019 to 2024

The organic acids market is projected to grow at a CAGR of 6.41% to reach US$21.524 billion by 2024, from US$14.827 billion in 2018. Organic acids are the compounds that posses acidic properties. Growing consumption of organic acids among different end-users is driving the market growth. These acids are widely used in food and beverage, healthcare, and textile industry as they are used as preservative, solvent, washing agent, pH buffers and quenchers. The market is expected to grow at a steady pace owing to increasing propensity towards bio-based organic acids and burgeoning use of these acids in the animal feed. Geographically, Asia Pacific holds a significant share in the market owing to growing chemical industry.

This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.

Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the organic acids value chain. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.

Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the organic acids market.

Major industry players profiled as part of the report are Cargill, Incorporated, BASF SE, The Dow Chemical Company, Eastman Chemical Company, GC Innovation America, Corbion, and Henan Jindan Lactic Acid Technology Co., Ltd., DSM GLOBAL, ACTAGRO, and Merck KGaA.

Segmentation

The organic acids market has been analyzed through following segments:

By Type
Acetic Acid
Formic Acid
Lactic Acid
Propionic Acid
Others

By Application
Food & Beverages
Healthcare
Feed
Textile
Others

By Geography
North America
USA
Canada
Mexico
Others

South America
Brazil
Argentina
Others

Europe
Germany
France
United Kingdom
Others

Middle East and Africa
Saudi Arabia
Israel
Others

Asia Pacific
China
Japan
India
Others