Organic Acids Market to Reach $11.3 Billion by 2022 - Price & Availability of Raw Materials Remains Major Restraining Factor
DUBLIN, July 19, 2017 /PRNewswire/ --
The "Organic Acids Market - Global Forecast to 2022" report has been added to Research and Markets' offering.
The organic acids market is projected to grow at a CAGR of 5.48% from 2017 to 2022, to reach a projected value of USD 11.39 Billion by 2022. Factors such as wide use of organic acids in various applications, increase in demand for convenience food, significant functionalities across various industries, R&D and technological innovations, and micro-encapsulation drive the organic acids market. On the basis of type, the global market was led by acetic acid, followed by citric acid in 2016.
Acetic acid is one of the most largely commercially available types of organic acid. Asia-Pacific countries are expected to become major markets owing to the high awareness among customers and this contributes to the growth of the global organic acids market in the near future.
The global market, on the basis of application, is segmented into food & beverages, feed, pharmaceutical and industrial. The food and beverage sector cover the largest market share due to increased consumer demand for organic acid fortified food and beverages due to their antioxidants and preservative properties. There is also a growing demand for foods that are produced using milder treatments, which include heat, salt, sugar, and chemicals. Also, newer technologies are introduced to prevent the growth of dangerous bacteria, thus increasing the demand of organic acids in food applications.
The major restraining factor for the organic acid is the price and availability of raw materials. Production costs increase significantly due to higher costs of raw materials, transport, energy, and chemicals, which leads to increase in prices; these in turn impact the margins for manufacturers. Companies such as E. I. du Pont de Nemours and Company (U.S.), BASF SE (Germany) have acquired leading market position through the provision of a broad portfolio, catering to the varied requirements of the market, along with a focus on the diverse end user segments. They are also focused on innovation and are geographically diversified.
Companies Mentioned
- Archer Daniels Midland Company
- BASF SE
- Cargill
- Corbion N.V.
- E. I. Dupont De Nemours and Company
- Eastman Chemical Company
- Henan Jindan Lactic Acid Technology Co. Ltd
- Koninklijke DSM N.V.
- Myriant Corporation
- Polynt-Reichhold
- Tate & Lyle
- The DOW Chemical Company
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Organic Acids, By Type
7 Organic Acids Market, By Application
8 Organic Acids Market, By Region
9 Competitive Landscape
10 Company Profiles
11 Appendix
For more information about this report visit https://www.researchandmarkets.com/research/tgvgqv/organic_acids
Media Contact:
Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Share this article