The global organic acids market is forecast to exhibit a CAGR of 5.8% between 2017 and 2022. At this pace, the market will reach US$10.61 bn by the end of 2022, from its valuation of US$8.02 bn in 2017.
Albany, NY -- (SBWIRE) -- 10/16/2017 -- A rising global population coupled with strong GDP growth should boost the demand for organic acids in the coming years. Furthermore, high growth in the pharmaceutical sector is anticipated to bode well for the organic acids market because of the use of organic acids in a number of drugs such as aspirin and phenacetin. The demand for organic acids is poised to increase in the food & beverage industry on account of its utility in producing different foodstuffs and soft drinks. Market Research Reports Search Engine has recently added the 'Organic Acids Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2022' to its repository hub. However, the prospects are not all rosy in the organic acids market. Growth rates notwithstanding, stringent rules and regulations meant to reduce the use of synthetic organic acids are a major threat to the unimpeded growth of the organic acids market. Synthetic organic acids are produced from diverse non-renewable sources and these are hazardous to the natural environment on several occasions. To mitigate such legitimate concerns, major players actively involved in the organic acids market have increased their R&D investment in bio-based organic acids.
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Acetic Acid dominant in the Organic Acids Market
The organic acid market has been studied on the basis of application, product type, and region. Acetic acid segment holds the lion's share in the organic acids market by product type and is on track to witness an impressive growth from 2017 to 2022. The acetic acid segment was worth more than US$ 1.7 billion in 2017 alone, making it large enough for all key stakeholders in the organic acids market.
Focus on North America in the Organic Acids Market
North America is anticipated to offer massive potential in the organic acids market and major companies are advised to make their investment strategies accordingly. The North America organic acids market is projected to record a robust CAGR of 6.1% for the forecast period. In addition to this, companies could look at targeting the APEJ region as China and India are the only countries with a billion plus population, leading to immense scope for organic acids market players. The growth rates of the APEJ region are the envy of the rest of the world and this is conducive to the organic acids market growth as well.
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Competitive Dashboard in the Organic Acids Market
The companies profiled in the organic acids market report are BioAmber Inc., Archer Daniels Midland Company, Celanese Corporation, BASF SE, The DOW Chemical Company, E. I. Dupont De Nemours and Company, Cargill, Eastman Chemical Company, Polynt-Reichhold, Henan Jindan Lactic Acid Technology Co. Ltd, Corbion N.V., BP Plc., Fuso chemical co. ltd, Nature Works LLC, Koninklijke DSM N.V., Myriant Corporation, Tate & Lyle, Elekeiroz S.A, LUXI GROUP CO., LTD., and Genomatica.
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