Organic Acids Market Size by Players, Type, Application and Forecast by 2023

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Summary: “Organic Acids Market” includes Market Size, Share, Trends, Growth, Demand, Supply, Application, production, capacity utilization, supply, Analysis and Forecast

Organic acids are compounds that possess a carbon atom in its structure and have a molecular formula RCOOH. Citric acid, acetic acid, lactic acid, tartaric acid, malic acid, gluconic acid, propionic acid, and fumaric acid are some of the organic acids used widely in end-use applications such as during formation of drugs, textiles, and adhesives. These acids are produced commercially either by chemical synthesis or from agro-industrial residues. However, fermentation processes are the most commonly used methods. Furthermore, organic acids of tricarboxylic acid cycle can be produced in high yields in microbiological processes.

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Presently, the global organic acids market witnesses numerous opportunities, owing to rapid increase in development of food & beverage industry in Asia-Pacific and LAMEA. The decline in oil prices and failure of start-up bio-fuel process have stimulated the production of multiple organic acids from biomass as coproducts. This drives the market growth as biomass acts as a renewable source for organic acids production, thereby leveraging the cost of fuels for the production of organic acids. Moreover, increase in demand for bio-based organic acids has led to a surge in investment for R&D activities in the market.

Acetic acid accounted for almost two-third share, in terms of volume, in 2016, owing to increase in demand for acetic acids for preservation of food items. In addition, acetic acids are being increasingly employed in meat and poultry production in the form of sodium lactate to extend shelf life, control pathogenic bacteria in food, improve water binding capacity, and reduce sodium content.

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