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Organic Acids Market Size, Share & Industry Analysis, By Type (Citric Acid, Lactic Acid, Tartaric Acid, Acetic Acid, Others (Benzoic, Malic, and others)), By Application (Food and Beverage, Pharmaceutical,Textile and Adhesive, Others (Animal Feed, Petrochemical and Others)) and Regional Forecast, 2021-2028

Region : Global | Report ID: FBI102442 | Status : Ongoing

 

KEY MARKET INSIGHTS

The escalating consumer demand for food products with milder treatment and without chemical preservatives is anticipated to boost the demand for organic acids in the food and beverage industry. Organic acids are often added to food as acidulates, preservatives, antioxidants, and antimicrobial agents which inhibit the growth of food spoilage microorganism.


The increasing use of organic acids in the production of soft drinks is anticipated to work as a fuelling agent in stimulating the growth of the organic acid market globally. For instance, lactic acid is widely used as an acidity regulator in soft drinks and fruit juices due to its mild taste. The increasing use of organic acid to counteract pathogens in food will boost the demand for organic acids in the food and beverage industry. The prominent companies are focused on investment in base expansion and increasing their production capacity to strengthen their position in the global organic acid market. For instance, in May 2019, BASF-YPC started up its second production plant for propionic acid in Nanjing, China. The total capacity of two plants has increased to 69,000 metric tons per year.


Key Market Driver -

Increasing Demand for Bio-Based Organic Acids

Key Market Restraint -

Fluctuating Prices of Raw Materials


The global organic acid market is driven by the increasing adoption of organic acids by food manufacturers as antioxidant agent. For instance, formic acid can be used in combination with hydrogen peroxide in the production of epoxidase soy bean oil, as oxidizing agent. The increasing use of propionic acid as a preservative in baked goods that basically kill bacteria and prevent growth of molds is expected to drive the growth of organic acid market. The organic acid constitutes a significant portion of fermentation market because the microbial production is a valuable economic alternative to synthetic products. 


Fluctuating prices of raw material such as biomass, corn, maze and others and high initial investment are expected to hamper the growth of the global organic acid market. The cost of raw material fluctuates according to its availability, source, and production.


Key Players Covered:


The prominent players operating in the global organic acid market are BASF SE, Celanese Corporation, DSM Cargill, Tate and Lyle PLC, Archer Daniels Midland Company, Jungbunzlauer Suisse AG., Corbion N.V., COFCO Biochemical, The Dow Chemical Company, Senvia Chemicals Co., Ltd., and others.


The citric acid segment is expected to witness sturdy growth in the food and beverage industry owing to its multifunctional properties such as antioxidant, flavor enhancement, and as an acidifying agent. Citric acid can act as an antimicrobial agent in jams, jellies and candies, which is expected to contribute in proliferating the use of citric acid within the aforementioned products. The increasing applications of lactic acid in confectionary to give a mild acidic taste, improve quality, reduced stickiness, and longer shelf life to confectionery and other food products are anticipated to drive the demand for lactic acid.


The application of organic acids in the food and beverage industry is projected to witness robust growth in the upcoming years due to widening food & beverage industry across the globe. For instance, citric acid is widely used in carbonated beverages as an acidifying agent. The widespread application of lactic acid in pharmaceutical industry is expected to boost the demand for organic acids in pharmaceutical industry. For instance, lactic acid and its salts act as intermediate for pharmaceutical manufacture, for adjusting the pH of preparations and in wart medications.


Regional Analysis:


North America is projected to witness robust growth in the global organic acid market. The easy availability of organic acid due to the presence of prominent companies such as The Dow Chemical Company, Archer Daniels Midland Company, and others in the region is an expected contributor for the anticipated market growth within this region. The companies are focused on expansion and innovation in product development. For instance, in February 2019, Celanese Corporation, a chemical and specialty materials company the expansion of production facility of acetic acid at Clear Lake. Furthermore, the company also announced the acquisition of synthetic gas production unit from Linde AG. This acquisition is expected to help the company to reduce the production cost of acetic acid as synthetic gas is the key raw material.


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The increasing stringency to control the use of synthetic acids and promote natural and bio-based acids is projected to drive the growth of the organic acid market in Asia Pacific. The increasing disposable income and healthy food concerns are major factors for rising demand for organic products in this region. In addition, the increasing use of organic acids in pharmaceutical industry is expected to boost the demand of organic acids. For instance, lactic acid is extensively used in preparation of electrolytes.


Segmentation






















 ATTRIBUTE


 DETAILS

By Type




  • Citric Acid

  • Lactic Acid

  • Tartaric Acid

  • Acetic Acid

  • Others (Benzoic, Malic, and others)



By Application




  • Food and Beverage

  • Pharmaceutical

  • Textile and Adhesive

  • Others (Animal Feed, Petrochemical and Others)



By Geography




  • North America (U.S., Canada, and Mexico)

  • Europe (France, Germany, Italy, Spain, U.K., Russia, and Rest of Europe)

  • Asia Pacific (China, India, Japan, Australia, and Rest of Asia Pacific)

  • South America (Brazil, Argentina, and Rest of South America)

  • Middle East & Africa (South Africa, UAE, and Rest of ME&A)



Key Industry Developments:



  • In January 2019, Lygos Inc., a biotechnology-based producer of specialty chemicals, announced that LG Technology Ventures, an investment arm of the South Korean conglomerate LG Group, made an investment worth $5 Mn in Lygos’ bio-based chemical segment.

  • In January 2020, BASF SE announced the investment in capacity expansion for methane sulfonic acid. This expansion will increase the production by 50,000 metric tons per year.


Organic Acids Market Size, Share and Global Industry Trend Forecast till 2026
  • Ongoing
  • 2020
  • 2017-2019

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