Organic Acids Market Worth 9.29 Billion USD by 2021
PUNE, India, May 31, 2016 /PRNewswire/ --
The report "Organic Acids Market by Type (Acetic Acid, Citric Acid, Formic Acid, Lactic Acid, Propionic Acid, Fumaric Acid & Others), Source (Biomass, Molasses, Starch & Chemical synthesis), Application (Industrial, Food & Feed), & by Region - Global Trend & Forecast to 2021", published by MarketsandMarkets, The market is projected to reach a value of USD 9.29 Billion by 2021, at a CAGR of 6.0% from 2016 to 2021.
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Browse 104 market data Tables and 38 Figures spread through 135 Pages and in-depth TOC on "Organic Acids Market".
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The market is driven by its wide areas of application and R&D investments and technological innovations such as micro-encapsulation. The significant growth of the F&B industry and organic acids' functionalities across various industries has also been driving the global Organic Acids Market.
The citric acid and lactic acid markets are projected to grow at the highest CAGRs from 2016 to 2021
The citric acid and lactic acid are the fastest-growing organic acids because of the growing end-user applications and widespread applications. Lactic acid is used in cultured dairy products such as acidulants, flavoring agents, and preservatives, for deliming of hides in leather processing, textile dyeing for the production of biodegradable polymers, in production of plastics, solvents, inks, and lacquers, and as calcium lactate in pharmaceuticals.
Molasses and starch are the largely used raw materials for the organic acid production
The molasses obtained from sugar cane and sugar beet are the commonly used raw materials for the production of organic acids. Cornstarch is the most widely used raw material for the production of organic acids. Both the sources naturally comprise organic acids which are mostly extracted through the fermentation process.
Asia-Pacific region dominated the global Organic Acids Market in 2015
The Asia-Pacific region was the largest market for organic acids in 2015. China is the largest country to manufacture the organic acids in the world. The growth is driven by the less stringent regulations on manufacturing and trade in this country. The country also maintains a very large livestock population which requires high nutrition additives in feed. Moreover, in order to continue their lucrative trade ties with the European region, Chinese manufacturers of food and feed ingredients are increasingly using organic acids in their products. China is also estimated to be the leading market for acetic acid with many new facilities being set up for production, as the acid is an integral part in the manufacturing of vinyl, polyesters, and engineering plastics. The increased per-capita income and growth of many small and medium scale industries have been driving the Indian market. Hence, India is projected to grow at the highest CAGR during the forecast period.
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This Organic Acids Market report includes a study of marketing and development strategies, along with the product portfolio of leading companies. It includes the profiles of leading companies such as Cargill, Incorporated (U.S.), BASF SE (Germany), the Dow Chemical Company (U.S.), Tate & Lyle Plc (U.K.), E.I. du Pont de Nemours and Company (U.S.), Eastman Chemical Company (U.S.), Archer Daniels Midland Company (U.S.), Myriant Corporation (U.S.), Calanese Corporation (U.S.), and Henan Jindan Lactic Acid Technology Co. Ltd (China).
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