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Organic Acids Market Size, Share & Trends Analysis Report By Application (Food & Beverages, Feed, Pharmaceuticals, and Industrial), By Type, By Regional Outlook and Forecast, 2023 - 2030

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    Report

  • January 2024
  • Region: Global
  • Marqual IT Solutions Pvt. Ltd (KBV Research)
  • ID: 5935310
The Global Organic Acids Market size is expected to reach $29.4 billion by 2030, rising at a market growth of 7.5% CAGR during the forecast period. In the year 2022, the market attained a volume of 16,265.2 Kilo Tonnes, experiencing a growth of 6.0% (2019-2022).

Formic acid is a feed additive in livestock nutrition, especially in poultry farming, to enhance feed conversion efficiency and control microbial growth. Therefore, the formic acid segment captured $1,733.4 million revenue in the market in 2022. Its antimicrobial properties improve animal health and performance as an alternative to traditional antibiotics. Formic acid is employed as a reducing agent and pH regulator in the textile industry during dyeing and finishing processes. It helps achieve uniform dyeing, improve colour fastness, and enhance the quality of finished textiles.



Formic acid is commonly used in textile dyeing and finishing processes. It serves as a reducing agent and pH adjuster, contributing to improved dyeing efficiency and colour fixation. The growth of the textile industry increases the demand for formic acid in dyeing applications. Formic acid is widely used in the leather industry, particularly in tanning. Formic acid helps achieve uniform and efficient tanning, resulting in high-quality leather. The expansion of the leather industry drives the demand for formic acid as a key component in tanning processes. These, such as citric acid, are dye-fixing agents in textiles. They help improve the fastness of dyes on fabrics, ensuring vibrant and long-lasting colours. Additionally, modern consumers are more conscious of their food and product choices and prefer clean labels. These, sourced from natural raw materials and often produced through fermentation, are considered clean and transparent ingredients. They contribute to formulating products with simple, easily understandable labels, meeting consumer expectations. There is a global trend away from synthetic additives and chemicals in food and other consumer products. The acids, being naturally occurring compounds, are favoured over synthetic alternatives. Thus, because of the growing demand for natural and clean-label products, the market is anticipated to increase significantly.

However, producing organic acids, particularly through fermentation processes, can be costly. High production costs may limit the competitiveness of these compared to traditional petrochemical-based acids. Finding cost-effective production methods is essential for market sustainability. Producers of these may face reduced profit margins due to high production costs. Limited profitability can hinder companies' incentive to invest in research, development, and expansion, potentially slowing down the overall growth of the market. Higher prices can deter potential consumers from adopting these in various applications. Industries seeking cost-effective solutions may be less inclined to incorporate these, affecting market demand. Therefore, high production costs of the meters are a significant challenge that hampers the growth of market.

By Type Analysis

By type, the market is categorized into acetic acid, citric acid, formic acid, lactic acid, gluconic acid, ascorbic acid, fumaric acid, propionic acid, malic acid, and others. In 2022, the acetic acid segment held the highest revenue share in the market. Acetic acid is a key precursor in producing vinyl acetate monomer, a crucial building block in synthesizing polymers and adhesives. Acetic acid is a solvent in manufacturing various chemicals, resins, and coatings. Its solvent properties make it valuable in producing paints, varnishes, and lacquers. Mineral deposits, including limescale, are eliminated from surfaces in industrial and household cleaning processes using acetic acid as a descaling agent.



By Application Analysis

On the basis of application, the market is divided into feed, pharmaceuticals, food & beverages, and industrial. The pharmaceuticals segment acquired a substantial revenue share in the market in 2022. Organic acids, such as citric acid, are utilized in drug formulations to adjust the pH, improve stability, and enhance the solubility of pharmaceutical compounds. These serve as excipients in the production of tablets and capsules. These are buffering agents in parenteral solutions, helping maintain injectable pharmaceuticals' desired pH. Organic acids, including citric acid, act as chelating agents in pharmaceutical formulations. They help stabilize drugs by chelating metal ions that can otherwise catalyze chemical reactions leading to degradation.

By Regional Analysis

Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the Asia Pacific region led the market by generating the highest revenue share. The food and beverage industry in Asia Pacific is experiencing significant growth. The pharmaceutical and personal care sectors are growing in Asia Pacific. The bioplastics and packaging industry is witnessing growth in Asia Pacific. The Asia-Pacific region's fast industrialization and urbanization fuel the demand for various chemicals. Consumers in Asia Pacific are increasingly seeking functional ingredients in food and personal care products.

List of Key Companies Profiled

  • Cargill, Incorporated
  • BASF SE
  • The Dow Chemical Company
  • Archer Daniels Midland Company
  • Eastman Chemical Company
  • Tate & Lyle PLC
  • DuPont de Nemours, Inc.
  • Corbion N.V.
  • Koninklijke DSM N.V.
  • Celanese Corporation

Market Report Segmentation

By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
  • Food & Beverages
  • Feed
  • Pharmaceuticals
  • Industrial
By Type (Volume, Kilo Tonnes, USD Billion, 2019-2030)
  • Acetic Acid
  • Citric Acid
  • Lactic Acid
  • Formic Acid
  • Propionic Acid
  • Ascorbic Acid
  • Gluconic Acid
  • Fumaric Acid
  • Malic Acid
  • Others
By Geography (Volume, Kilo Tonnes, USD Billion, 2019-2030)
  • North America
  • US
  • Canada
  • Mexico
  • Rest of North America
  • Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific
  • LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA

Table of Contents

Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Global Organic Acids Market, by Application
1.4.2 Global Organic Acids Market, by Type
1.4.3 Global Organic Acids Market, by Geography
1.5 Methodology for the research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Opportunities
3.2.3 Market Restraints
3.2.4 Market Challenges
3.3 Porter’s Five Forces Analysis
Chapter 4. Global Organic Acids Market by Application
4.1 Global Food & Beverages Market by Region
4.2 Global Feed Market by Region
4.3 Global Pharmaceuticals Market by Region
4.4 Global Industrial Market by Region
Chapter 5. Global Organic Acids Market by Type
5.1 Global Acetic Acid Market by Region
5.2 Global Citric Acid Market by Region
5.3 Global Lactic Acid Market by Region
5.4 Global Formic Acid Market by Region
5.5 Global Propionic Acid Market by Region
5.6 Global Ascorbic Acid Market by Region
5.7 Global Gluconic Acid Market by Region
5.8 Global Fumaric Acid Market by Region
5.9 Global Malic Acid Market by Region
5.1 Global Others Market by Region
Chapter 6. Global Organic Acids Market by Region
6.1 North America Organic Acids Market
6.1.1 North America Organic Acids Market by Application
6.1.1.1 North America Food & Beverages Market by Country
6.1.1.2 North America Feed Market by Country
6.1.1.3 North America Pharmaceuticals Market by Country
6.1.1.4 North America Industrial Market by Country
6.1.2 North America Organic Acids Market by Type
6.1.2.1 North America Acetic Acid Market by Country
6.1.2.2 North America Citric Acid Market by Country
6.1.2.3 North America Lactic Acid Market by Country
6.1.2.4 North America Formic Acid Market by Country
6.1.2.5 North America Propionic Acid Market by Country
6.1.2.6 North America Ascorbic Acid Market by Country
6.1.2.7 North America Gluconic Acid Market by Country
6.1.2.8 North America Fumaric Acid Market by Country
6.1.2.9 North America Malic Acid Market by Country
6.1.2.10 North America Others Market by Country
6.1.3 North America Organic Acids Market by Country
6.1.3.1 US Organic Acids Market
6.1.3.1.1 US Organic Acids Market by Application
6.1.3.1.2 US Organic Acids Market by Type
6.1.3.2 Canada Organic Acids Market
6.1.3.2.1 Canada Organic Acids Market by Application
6.1.3.2.2 Canada Organic Acids Market by Type
6.1.3.3 Mexico Organic Acids Market
6.1.3.3.1 Mexico Organic Acids Market by Application
6.1.3.3.2 Mexico Organic Acids Market by Type
6.1.3.4 Rest of North America Organic Acids Market
6.1.3.4.1 Rest of North America Organic Acids Market by Application
6.1.3.4.2 Rest of North America Organic Acids Market by Type
6.2 Europe Organic Acids Market
6.2.1 Europe Organic Acids Market by Application
6.2.1.1 Europe Food & Beverages Market by Country
6.2.1.2 Europe Feed Market by Country
6.2.1.3 Europe Pharmaceuticals Market by Country
6.2.1.4 Europe Industrial Market by Country
6.2.2 Europe Organic Acids Market by Type
6.2.2.1 Europe Acetic Acid Market by Country
6.2.2.2 Europe Citric Acid Market by Country
6.2.2.3 Europe Lactic Acid Market by Country
6.2.2.4 Europe Formic Acid Market by Country
6.2.2.5 Europe Propionic Acid Market by Country
6.2.2.6 Europe Ascorbic Acid Market by Country
6.2.2.7 Europe Gluconic Acid Market by Country
6.2.2.8 Europe Fumaric Acid Market by Country
6.2.2.9 Europe Malic Acid Market by Country
6.2.2.10 Europe Others Market by Country
6.2.3 Europe Organic Acids Market by Country
6.2.3.1 Germany Organic Acids Market
6.2.3.1.1 Germany Organic Acids Market by Application
6.2.3.1.2 Germany Organic Acids Market by Type
6.2.3.2 UK Organic Acids Market
6.2.3.2.1 UK Organic Acids Market by Application
6.2.3.2.2 UK Organic Acids Market by Type
6.2.3.3 France Organic Acids Market
6.2.3.3.1 France Organic Acids Market by Application
6.2.3.3.2 France Organic Acids Market by Type
6.2.3.4 Russia Organic Acids Market
6.2.3.4.1 Russia Organic Acids Market by Application
6.2.3.4.2 Russia Organic Acids Market by Type
6.2.3.5 Spain Organic Acids Market
6.2.3.5.1 Spain Organic Acids Market by Application
6.2.3.5.2 Spain Organic Acids Market by Type
6.2.3.6 Italy Organic Acids Market
6.2.3.6.1 Italy Organic Acids Market by Application
6.2.3.6.2 Italy Organic Acids Market by Type
6.2.3.7 Rest of Europe Organic Acids Market
6.2.3.7.1 Rest of Europe Organic Acids Market by Application
6.2.3.7.2 Rest of Europe Organic Acids Market by Type
6.3 Asia Pacific Organic Acids Market
6.3.1 Asia Pacific Organic Acids Market by Application
6.3.1.1 Asia Pacific Food & Beverages Market by Country
6.3.1.2 Asia Pacific Feed Market by Country
6.3.1.3 Asia Pacific Pharmaceuticals Market by Country
6.3.1.4 Asia Pacific Industrial Market by Country
6.3.2 Asia Pacific Organic Acids Market by Type
6.3.2.1 Asia Pacific Acetic Acid Market by Country
6.3.2.2 Asia Pacific Citric Acid Market by Country
6.3.2.3 Asia Pacific Lactic Acid Market by Country
6.3.2.4 Asia Pacific Formic Acid Market by Country
6.3.2.5 Asia Pacific Propionic Acid Market by Country
6.3.2.6 Asia Pacific Ascorbic Acid Market by Country
6.3.2.7 Asia Pacific Gluconic Acid Market by Country
6.3.2.8 Asia Pacific Fumaric Acid Market by Country
6.3.2.9 Asia Pacific Malic Acid Market by Country
6.3.2.10 Asia Pacific Others Market by Country
6.3.3 Asia Pacific Organic Acids Market by Country
6.3.3.1 China Organic Acids Market
6.3.3.1.1 China Organic Acids Market by Application
6.3.3.1.2 China Organic Acids Market by Type
6.3.3.2 Japan Organic Acids Market
6.3.3.2.1 Japan Organic Acids Market by Application
6.3.3.2.2 Japan Organic Acids Market by Type
6.3.3.3 India Organic Acids Market
6.3.3.3.1 India Organic Acids Market by Application
6.3.3.3.2 India Organic Acids Market by Type
6.3.3.4 South Korea Organic Acids Market
6.3.3.4.1 South Korea Organic Acids Market by Application
6.3.3.4.2 South Korea Organic Acids Market by Type
6.3.3.5 Singapore Organic Acids Market
6.3.3.5.1 Singapore Organic Acids Market by Application
6.3.3.5.2 Singapore Organic Acids Market by Type
6.3.3.6 Malaysia Organic Acids Market
6.3.3.6.1 Malaysia Organic Acids Market by Application
6.3.3.6.2 Malaysia Organic Acids Market by Type
6.3.3.7 Rest of Asia Pacific Organic Acids Market
6.3.3.7.1 Rest of Asia Pacific Organic Acids Market by Application
6.3.3.7.2 Rest of Asia Pacific Organic Acids Market by Type
6.4 LAMEA Organic Acids Market
6.4.1 LAMEA Organic Acids Market by Application
6.4.1.1 LAMEA Food & Beverages Market by Country
6.4.1.2 LAMEA Feed Market by Country
6.4.1.3 LAMEA Pharmaceuticals Market by Country
6.4.1.4 LAMEA Industrial Market by Country
6.4.2 LAMEA Organic Acids Market by Type
6.4.2.1 LAMEA Acetic Acid Market by Country
6.4.2.2 LAMEA Citric Acid Market by Country
6.4.2.3 LAMEA Lactic Acid Market by Country
6.4.2.4 LAMEA Formic Acid Market by Country
6.4.2.5 LAMEA Propionic Acid Market by Country
6.4.2.6 LAMEA Ascorbic Acid Market by Country
6.4.2.7 LAMEA Gluconic Acid Market by Country
6.4.2.8 LAMEA Fumaric Acid Market by Country
6.4.2.9 LAMEA Malic Acid Market by Country
6.4.2.10 LAMEA Others Market by Country
6.4.3 LAMEA Organic Acids Market by Country
6.4.3.1 Brazil Organic Acids Market
6.4.3.1.1 Brazil Organic Acids Market by Application
6.4.3.1.2 Brazil Organic Acids Market by Type
6.4.3.2 Argentina Organic Acids Market
6.4.3.2.1 Argentina Organic Acids Market by Application
6.4.3.2.2 Argentina Organic Acids Market by Type
6.4.3.3 UAE Organic Acids Market
6.4.3.3.1 UAE Organic Acids Market by Application
6.4.3.3.2 UAE Organic Acids Market by Type
6.4.3.4 Saudi Arabia Organic Acids Market
6.4.3.4.1 Saudi Arabia Organic Acids Market by Application
6.4.3.4.2 Saudi Arabia Organic Acids Market by Type
6.4.3.5 South Africa Organic Acids Market
6.4.3.5.1 South Africa Organic Acids Market by Application
6.4.3.5.2 South Africa Organic Acids Market by Type
6.4.3.6 Nigeria Organic Acids Market
6.4.3.6.1 Nigeria Organic Acids Market by Application
6.4.3.6.2 Nigeria Organic Acids Market by Type
6.4.3.7 Rest of LAMEA Organic Acids Market
6.4.3.7.1 Rest of LAMEA Organic Acids Market by Application
6.4.3.7.2 Rest of LAMEA Organic Acids Market by Type
Chapter 7. Company Profiles
7.1 Cargill, Incorporated
7.1.1 Company Overview
7.1.2 Recent strategies and developments:
7.1.2.1 Partnerships, Collaborations, and Agreements:
7.1.3 SWOT Analysis
7.2 BASF SE
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Segmental and Regional Analysis
7.2.4 Research & Development Expense
7.2.5 Recent strategies and developments:
7.2.5.1 Product Launches and Product Expansions:
7.2.6 SWOT Analysis
7.3 The Dow Chemical Company
7.3.1 Company Overview
7.3.2 Financial Analysis
7.3.3 Segmental and Regional Analysis
7.3.4 Research & Development Expenses
7.3.5 SWOT Analysis
7.4 Archer Daniels Midland Company
7.4.1 Company Overview
7.4.2 Financial Analysis
7.4.3 Segmental and Regional Analysis
7.4.4 Research & Development Expense
7.4.5 SWOT Analysis
7.5 Eastman Chemical Company
7.5.1 Company Overview
7.5.2 Financial Analysis
7.5.3 Segmental and Regional Analysis
7.5.4 Research & Development Expense
7.5.5 Recent strategies and developments:
7.5.5.1 Acquisition and Mergers:
7.5.6 SWOT Analysis
7.6 Tate & Lyle PLC
7.6.1 Company Overview
7.6.2 Financial Analysis
7.6.3 Segmental & Regional Analysis
7.6.4 Research & Development Expense
7.6.5 SWOT Analysis
7.7 DuPont de Nemours, Inc.
7.7.1 Company Overview
7.7.2 Financial Analysis
7.7.3 Segmental and Regional Analysis
7.7.4 Research & Development Expense
7.7.5 Recent strategies and developments:
7.7.5.1 Partnerships, Collaborations, and Agreements:
7.7.6 SWOT Analysis
7.8 Corbion N.V.
7.8.1 Company Overview
7.8.2 Financial Analysis
7.8.3 Segmental and Regional Analysis
7.8.4 Research & Development Expense
7.8.5 Recent strategies and developments:
7.8.5.1 Product Launches and Product Expansions:
7.8.6 SWOT Analysis
7.9 Koninklijke DSM N.V.
7.9.1 Company Overview
7.9.2 Financial Analysis
7.9.3 Segmental and Regional Analysis
7.9.4 Research & Development Expense
7.9.5 SWOT Analysis
7.10. Celanese Corporation
7.10.1 Company Overview
7.10.2 Financial Analysis
7.10.3 Segmental and Regional Analysis
7.10.4 Research & Development Expenses
7.10.5 SWOT Analysis
Chapter 8. Winning Imperatives of Organic Acids Market

Companies Mentioned

  • Cargill, Incorporated
  • BASF SE
  • The Dow Chemical Company
  • Archer Daniels Midland Company
  • Eastman Chemical Company
  • Tate & Lyle PLC
  • DuPont de Nemours, Inc.
  • Corbion N.V.
  • Koninklijke DSM N.V.
  • Celanese Corporation

Methodology

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