(I-BusinessNews.Com, January 30, 2020 ) The report “Organic Acids Market by Type (Acetic Acid, Citric Acid, Formic Acid, Lactic Acid, Propionic Acid, Ascorbic Acid, Gluconic Acid, Fumaric Acid), Application (Food & Beverages, Feed, Pharmaceuticals, and Industrial), and Region – Global Forecast to 2022″, The organic acids market is projected to reach a value of USD 11.39 Billion by 2022, at a CAGR of 5.48% from 2017 to 2022. The market is driven by factors such as the use of organic acids in various applications and wide functionalities of organic acids range from their use as a preservative, acidity regulator, antioxidant, flavor enhancer, coating, and in the production of biopolymers.
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The acetic acid segment, accounted for the largest share in the organic acids market in 2016.
On the basis of type, the acetic acid segment accounted for the largest share in the organic acids market in 2016 followed by citric acid. Acetic acid is used majorly in food & beverage industries due to its antibacterial and antifungal properties. Bakery and confectionery industries use acetic acid and citric acid to prevent bacterial and fungal growth in their products. Citric acid also has applications as a cleaning and chelating agent, water treating solvent, and in the cosmetics industry.
The demand for citric acid is expected to be the highest during the forecast period.
In 2016, the global market was led by acetic acid, followed by citric acid. Acetic acid is one of the most largely commercially available types of organic acid. However, the citric acid market is projected to grow at higher rate due to the increased demand in the food & feed industry and wide usage of citric acid in various applications.
The food and beverage segment is expected to account for the largest share in the market
On the basis of application, the food & beverages sector is estimated to account for the largest market share due to increased consumer demand for organic acid-fortified food & beverages, owing to their antioxidant 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 for organic acids in food applications.
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Asia Pacific is projected to witness the highest growth rate during the forecast period.
Asia-Pacific accounted for the largest market share for organic acid in 2016, owing to the increase in demand for organic acid in countries such as China and India. Asia-Pacific is projected to be the fastest-growing market during the forecast period, due to the increased awareness related to the health benefits of organic acid. The relatively lower operational costs in this region enable manufacturers to have competitive pricing on a global platform. In this region, countries are less stringent, in terms of regulations, over the trade and domestic marketing of food additives. Organic acids are manufactured on a large scale in China and are exported to international markets
This report includes a study of marketing and development strategies, along with the product portfolios of the leading companies. It includes profiles of leading companies such as Cargill (U.S.), BASF SE (Germany), Dow Chemical Company (U.S.), Henan Jindan Lactic Acid Technology Co. Ltd (China), Archer Daniels Midland Company (U.S.), Eastman Chemical Company (U.S.), Corbion (Netherlands), Myriant Corporation (U.S.), Polynt-Reichhold (Italy), Tate & Lyle (U.K.), Koninklijke DSM N.V. (Netherlands), and E.I. Du Pont De Nemours & Company (U.S.).
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