According to the current analysis of Reports and Data, the global Citric Organic Acids Market was valued at USD 23.21 Billion in 2020 and is expected to reach USD 42.11 Billion by year 2028, at a CAGR of 7.8%. Organic acids have a wide scale of application in the industry. Synthetically produced organic acids are used as catalysts, surfactants and dyes popularly. Those that are produced by fermentation process of microorganisms are extensively used in various processes in the food and beverages industry. Citric Organic Acids Market is expected to witness a favourable growth scenario in the Asia Pacific market as the region has an extensively increasing demand for food and beverages, which are an important application of organic acids.
The Citric Organic Acids Market is witnessing a comparative leniency in the regulatory and approval norms, which is pushing the market growth forward. These acids are finding increasing use in the pharmaceuticals and cosmetic industry, which is further pushing forward the market growth.
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Top Companies Operating in the Global Citric Organic Acids Market Report:
Cargill, Aryan International, Novus, BASF SE, Tate Lyle, Dow Chemical Company, Eastman Chemical Company, Corbion, Myriant Corporation, Zhengzhou Best Cooperation.
Further key findings from the report suggest-
- The market for renewable organic acids is driven by stringent environmental regulations imposed on the conventional production methods. The former do not leave any toxic waste behind and organic acids are therefore being increasingly synthesized from renewable bio-based methods.
- By product, formic acid has important applications. It is highly acidic in nature, which helps in leather production processes, dyeing processes and textile finishing. The formic acid segment is expected to grow at a CAGR of 7.9% during the period of forecast.
- Citric acid is another popular organic acid that has very strong physio-chemical properties. It has important biomedical applications and also as a disinfectant against many viruses.
- Animal feed products are an important application of organic acids due to their positive effect on feed quality and animal performance. BASF SE offers Lupro-Mix, a blend of Propionic acid and formic acid, which is a popular animal feed product.
- Since organic acids provide antimicrobial protection, they are helpful in self-care commercial products. Their popularity arises mainly out of the fact that they are cost-effective and safe in comparison to most other alternatives that have been developed.
- Molasses are an important bio-based source for the production of organic acids. For example, organic acids from cane molasses have properties of the acids that are naturally occurring in cane juice. Aconitic acids and malic acids are the main categories derived.
- The Citric Organic Acids Market is expected to have the maximum growth and product penetration in the food and beverages industry during the forecast period. This is primarily due to their preservation and flavour addition applications.
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The global Citric Organic Acids Market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Further market segmentation
Product Type (Revenue, USD Million; 2018–2028)
- Formic Acid
- Citric Acid
- Lactic Acid
- Acetic Acid
- Gluconic Acid
- Itaconic Acid
- Others
- Propionic Acid
- Succinic Acid
- Pyruvic Acid
Source Type (Revenue, USD Million; 2018–2028)
- Biomass
- Molasses
- Starch
- Chemical Synthesis
- Agro-Industrial Residue
Application (Revenue, USD Million; 2018–2028)
- Food and Beverages Industry
- Animal Feed
- Chemical Industry
- Pharmaceuticals
- Personal Care
- Agriculture
- Others
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market? What kind of strategic business plans have they made?
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