Newark, NJ, May 18, 2022 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, The global organic acids market is expected to grow from USD 21.50 billion in 2019 to USD 39.80 billion by 2027, at a CAGR of 8% during the forecast period 2020-2027. Asia-Pacific region dominates the market with highest market share owing to increasing demand and use of organic acids in the various industries, which includes food & beverages industry, cosmetics industry, pharmaceuticals industry and animal industry. Asia-Pacific is followed by North America and Europe as the second and third largest market respectively for Organic Acids. Asia-Pacific is also expected to grow at the highest growth rate in the future due to increasing consumption in major economies like China and India. Growing demand for convenience food, production of organic acids from renewable sources which are cost-effective, and technological innovations are other factors fuelling the growth of this market.
Get Free Sample Copy: https://www.fiormarkets.com/report-detail/418133/request-sample
Some of the key players in this market are Dow Dupont, LyondellBasell Industries N.V., Zhengzhou Best Cooperation, Celanese Corporation, Corbion, Cargill, Aryan International, Novus, BASF, Tate & Lyle, Eastman Chemical Company, and Myriant Corporation.
The type segment is divided into acetic acid, formic acid, fumaric acid, lactic acid, citric acid, propionic acid, gluconic acid, and other acids. Citric acid is most widely used as a preservative and acidulate in the food and beverages industry. By the type of applications, this market is segmented into food & beverages, pharmaceuticals, personal care products, and animal feed. The food and beverages industry accounts for the largest market share owing to the demand of organic acids to increase the shelf life and maintain the quality due to the preservative properties of the organic acids. The pharmaceutical industry is anticipated to grow at a high rate owing to the increasing use of organic acids as a dialysis solution and for controlled drug delivery system. Apart from these applications, organic acids have several applications in various industries such as adhesives & sealants, paints & coatings, textiles, consumer goods, feed, and many more. Other organic acids, such as formic acid, is used as a preservative in animal feed. It has applications also in oil-drilling, de-icing, leather tanning, etc. Propionic acid is used in food and feed application, and in the production of propionate esters for solvents. Lactic acid has observed high demand in the production of polylactic acid, an acidifier in cosmetics and disinfectant in pharmaceuticals.
In 2019 April, DowDuPont the world’s largest chemical conglomerate demerged into three companies. Dow is dedicated to commodity chemical production, DuPont to speciality chemical production, and Corteva to manufacture agricultural chemicals.
Read Complete Report with TOC: https://www.fiormarkets.com/report/organic-acids-market-by-type-acetic-acid-formic-418133.html
About the report:
The global organic acids market is analysed on the basis of value (USD Billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
Request for Customization: https://www.fiormarkets.com/enquiry/request-customization/418133
Customization of the Report:
The report can be customized as per client requirements. For further queries, you can contact us on sales@fiormarkets.com or +1-201-465-4211. Our executives will be pleased to understand your requirements and offer you the best-suited reports.
About Fior Markets
Fior Markets is a futuristic market intelligence company, helping customers flourish their business strategies and make better decisions using actionable intelligence. With transparent information pool, we meet clients’ objectives, commitments on high standard and targeting possible prospects for SWOT analysis and market research reports. Fior Markets deploys a wide range of regional and global market intelligence research reports including industries like technology, pharmaceutical, consumer goods, food and beverages, chemicals, media, materials and many others.
Contact Us
Avinash D
Head of Business Development
Phone: +1-201-465-4211
Email: sales@fiormarkets.com
Web: www.fiormarkets.com
To Read Top Industries Reports, Visit our Affiliated Website: https://www.marketquest.biz
Related Reports
Microcellular Plastics Market - https://www.fiormarkets.com/report/microcellular-plastics-market-by-type-pvc-ps-pc-419535.html
Metal Forging Market - https://www.fiormarkets.com/report/metal-forging-market-by-raw-materials-carbon-steel-419553.html
Nonwoven Industrial Membrane Market - https://www.fiormarkets.com/report/nonwoven-industrial-membrane-market-by-module-tubular-plate-419554.html
Metal Casing Market - https://www.fiormarkets.com/report/metal-casing-market-by-product-stamping-mim-419564.html
