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Organic Acids Market 2017- 2022
Organic Acids Market Worth USD 20,232.6 Million By
2022 | Global Forecast Report by Meticulous Research
The global organic acids market is expected to reach USD 20,232.6 million by 2022,
at a CAGR of 7.1% during the forecast period of 2017 to 2022, according to this latest
publication from Meticulous Research®. The organic acids market is mainly driven by
the growing use of organic acids in the wide range of applications, increasing focus on
producing bio-based organic acids, growing use of dietary microencapsulated organic
acids, and increasing demand from developing economies. Further, increasing
production of organic acid from renewable sources provides significant opportunities
in this market. However, fluctuating raw material prices & availability, and the high
price of organic acids are expected to hinder the growth of organic acids market to some
extent.
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Market Segmentation
The global organic acids market is mainly segmented by type (acetic acid, citric acid,
propionic acid, formic acid, lactic acid, ascorbic acid, fumaric acid, malic acid and
others), by application (industrial and chemicals, food & beverages, animal feed &
nutrition, pharmaceuticals, cosmetics and personal care, and agriculture).
Acetic acid dominates the global organic acids market and is expected to continue its
dominance in the next five years. Acetic acid is widely used in various applications
such as the production of synthetic fibers and polymeric materials. Also, owing to
their properties such as pH controller, antioxidant, and preservative; the demand for
organic acids has been increasing significantly in the food and beverage and animal
products.
Geographic Overview
Geographically, the global organic acids market is segmented into five major regions,
namely North America, Europe, Asia-Pacific, Latin America, and Middle East &
Africa. These regions are further analyzed at a country level with the detailed
qualitative and quantitative analysis. Asia Pacific region accounted for the major share
in the global organic acids market in 2016, followed by North America, and Europe.
The region is also projected to grow at the fastest CAGR during the forecast period.
The major share and fast growth of this region are mainly attributed to its growing
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Organic Acids Market 2017- 2022
economy, rapid industrialization, rural migration & urbanization, growing food and
beverages, pharmaceutical, and animal feed industries; and increasing investments by
the key players in the region.
Key players
The leading companies have employed various strategies to expand their product
offerings, global footprint, and augment their market share. The key strategies
followed by most companies in the global organic acids market were agreements,
collaborations & partnerships, and new product launches. The key players in the
global organic acids market are Archer Daniels Midland Company, Cargill,
Incorporated, Polynt- Reichhold, E. I. du Pont de Nemours and Company, Tate &
Lyle PLC, Myriant Corporation, Eastman Chemical Company, Henan Jindan Lactic
Acid Technology Co., Ltd, BASF SE, The Dow Chemical Company, Celanese
Corporation, Koninklijke DSM N.V., Corbion N.V, and BioAmber Inc.
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Scope of Organic Acids Market Report:
Organic Acids Market by Product type:
•
Acetic acid
•
Citric acid
•
Propionic acid
•
Formic acid
•
Lactic acid
•
Ascorbic acid
•
Fumaric acid
•
Malic acid
•
Others
Organic Acids Market by Application:
•
Industrial & chemicals
•
Food & Beverages
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Organic Acids Market 2017- 2022
•
Animal feed & nutrition
•
Pharmaceuticals
•
Cosmetics & personal care
•
Agriculture
Organic Acids Market by Geography:
•
•
•
North America
o
U.S.
o
Canada
Europe
o
Germany
o
France
o
UK
o
Italy
o
Spain
o
Rest of Europe
Asia-Pacific
o
Japan
o
China
o
India
o
Rest of Asia-Pacific
•
Rest of World
•
Middle East & Africa
•
Latin America
o
Brazil
o
Argentina
o
Chile
o
Rest of Latin America
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