The global organic acid market is expected to total US$ 11.3 Bn in 2022. Demand for organic acid is forecast to increase at a steady CAGR of 5.3% over the forecast period, with the organic acid market size reaching US$ 18.8 Bn by 2032.
Organic acid is used in the food and beverage sector as a preservative to prolong the shelf life of food without altering its taste or flavour. It is also used in beverages due to its anti-oxidizing and anti-bacterial properties.
These acids have multiple applications in animal feed industry to inhibit bacterial growth and provide hosts with nutritional content. They are used in cosmetics to get rid of dead cells and nourish skin. Owing to these factors, demand for organic acids is expected to rise in the forthcoming years.
Consumers are adopting a healthy lifestyle and are conscious about the intake of any products that contain chemical ingredients which be harsh on their skin or cause any side effects because of daily consumption.
Consumer preference for brands that are offering organic products without harmful chemical additives is expected to influence the demand for organic acids. To fulfil rising consumer demand for natural products, manufacturers are developing technologies and clean label products that do not cause any harm to environment and human health.
Asia Pacific is expected to witness surge in demand for organic acids due to less stringent policies. North America is expected to be the hub for manufacturing and export of different organic acids due to easy availability of infrastructure and technical know-how.
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“Growing preference for clean label products across the food & beverage sector, coupled with increasing incorporation of organic acids in animal feed will steer growth in the market over the forecast period,” says an FMI analyst.
Key Takeaways:
- The organic acid market is expected to grow at CAGR of 5.2% and 4.2% in North America and the Latin America, respectively, through 2032.
- Asia Pacific is expected to account for 30% of the total organic acid market share share.
- The Europe organic acid market is expected to reach a valuation of US$ 4.5 Bn over the forecast period.
- Total sales in the U.S. organic acids market will reach a valuation of US$ 2.1 Bn in 2022.
- The India organic acid market valuation will total US$ 1.07 Bn in 2022.
- By application, sales in the poultry and farming segment are projected to account for 30% of the total market share.
- Based on product type, demand for citric acid will continue gaining traction.
Competitive Landscape
Key organic acid manufacturers are focusing on research & development to offer various products with no chemical additives. Key players are collaborating and developing new products to penetrate untapped markets. For instance:
- Eastman Chemical Company announced the acquisition of 3F Feed & Food, a European pioneer in the commercial and technical producer of livestock feed and human food additives. 3F’s operations and assets, which are based in Spain, will improve and support Eastman’s animal nutrition industry’s sustained future demand and will be integrated into the company’s Additives & Functional Products division.
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The study offers compelling insights based on Product Type (Lactic Acid, Formic Acid, Acetic Acid, Citric Acid, Propionic Acid, Ascorbic Acid, Gluconic Acid, Fumaric Acid), Application (Poultry and Farming, Pharmaceuticals, Industrial, Food & Beverages)Region (North America, Latin America, Europe, East Asia, South Asia, Oceania, MEA).
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