Global Organic Acids Market: Industry Size, Share, Growth, Forecasts
Latest
industry research report on: Global Organic Acids Market : Industry
Size, Share, Research, Reviews, Analysis, Strategies, Demand, Growth,
Segmentation, Parameters, Forecasts
As the food and beverages
industry is one of its key end users, the rising population worldwide
and GDP growth will pique the demand for organic acids in the
forthcoming years. Also high growth witnessed in the pharmaceutical
sector is expected to augur well for the market owing to the
increasing use organic acids in various drugs such as phenacetin and
aspirin. Meanwhile, the demand for organic acids will continue
scaling higher in the food and beverages industry on back of its
rising use in the production of soft drinks and various food
products.
Despite the strong growth
prospects, stringent regulations implemented to curb the use of
synthetic organic acids pose threat to the market. This is because
the synthetic variants of organic acids are produced from
non-renewable sources and on several occasions were considered
hazardous to the environment. Nonetheless, mitigate such concerns,
several of the prominent market players have willingly increased
their investment in the research and development of bio-based organic
acids. This showcases potential to enable strong growth in the global
organic acids market in the coming years.
Global
Organic Acids Market: Segmentation
The
global organic acids market is studied and evaluated on the basis of
product type and application. In terms of product, the global organic
acids market is segmented into acetic acid, formic acid, lactic acid,
citric acid, propionic acid, ascorbic acid, gluconic acid, fumaric
acid, malic acid, and others. Of these, the acetic acid segment held
dominance in the market in 2016 and is forecast to exhibit an
impressive between 2017 and 2022. As per TMR, the segment stood at
US$1,743.2 mn in 2017.
Besides
this, the market can be classified into bakery and confectionaries,
dairy, beverages, poultry, meat, and seafood, livestock, companion
animal, pharmaceuticals, industrial, and others in terms of
application.
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Global Organic Acids Market:
Regional Analysis
Regionally, the global organic
acids market is classified into North America, Latin America, Europe,
Japan, APEJ, and the Middle East and Africa. Among these regions,
North America is expected to offer highly lucrative prospects, thus
emerging at the fore of the global market as the dominant region.
According to TMR, the North America organic acids market stood at
US$2.94 bn in 2017 and is likely to exhibit a CAGR of 6.1% between
2017 and 2022.
Besides this, Asia Pacific
excluding Japan is forecast to offer attractive opportunities to the
market. Asia Pacific encompasses India and China, two of the nations
with the largest population, which has emerged as a chief factor
giving impetus to the region’s organic acids market. Moreover, high
growth showcased by the emerging economies of Asia Pacific has
created an environment conducive to growth of the organic acids
market in the region. Europe on the other hand will emerge as the
second-leading regional market trailing North America. Also in Japan
the market is expected to witness considerable growth opportunities
as the nation’s GDP continue scaling higher.
Global Organic Acids Market:
Competitive Analysis
The report is compiled with an
intent of offering a holistic overview of the global organic acids
market. It has therefore profiled some of the leading players
operating therein and studied their trajectory based on company
overview, product portfolio, key development, and sales data obtained
via proven methodologies. Some of the companies profiled in the
report are Archer Daniels Midland Company, BASF SE, BioAmber Inc., BP
Plc, Cargill, Celanese Corporation, Corbion N.V., E. I. Dupont De
Nemours and Company, Eastman Chemical Company, Elekeiroz S.A, Fuso
chemical co. ltd, Genomatica, Henan Jindan Lactic Acid Technology Co.
Ltd, Koninklijke DSM N.V., LUXI GROUP CO., LTD., Myriant Corporation,
Nature Works LLC, Polynt-Reichhold, Tate & Lyle, and The DOW
Chemical Company. In addition SWOT analysis is conducted on these
companies to gauge their strengths and weaknesses. The analysis also
presents insights into opportunities and threats that these companies
may witness in the coming years.
The scope of the study offers a
comprehensive assessment of stakeholder strategies, as well as
winning essentials for them, by segmenting the global organic acids
market as below:
Global Organic Acids Market,
Product Analysis
Acetic Acid
Formic Acid
Lactic Acid
Citric Acid
Propionic Acid
Ascorbic Acid
Gluconic Acid
Fumaric Acid
Malic Acid
Global Organic Acids Market,
Application Analysis
Bakery and Confectionaries
Dairy
Beverages
Poultry, Meat, and Seafood
Livestock,
Companion Animal
Pharmaceuticals
Industrial
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