The organic acid market is expected to reach a valuation of US$ 11.3 Bn in 2022. Sales of organic acids are anticipated to increase at a CAGR of 5.3%, reaching a valuation of 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.
The global organic acid market is poised for significant growth, with projections indicating a Compound Annual Growth Rate (CAGR) of 5.2% and 4.2% in North America and Latin America, respectively, through 2032. Asia Pacific is anticipated to emerge as a key player, accounting for 30% of the total market share. Europe’s organic acid market is set to reach a valuation of US$ 4.5 Billion over the forecast period.
Regional Growth Dynamics:
- Asia Pacific Prowess: Asia Pacific is expected to lead the organic acid market, constituting 30% of the total market share.
- European Market Outlook: The organic acid market in Europe is projected to reach a valuation of US$ 4.5 Billion, showcasing robust growth potential.
- U.S. Market Snapshot: Total sales in the U.S. organic acids market are forecasted to reach US$ 2.1 Billion in 2022.
- Indian Market Valuation: The India organic acid market is expected to reach a valuation of US$ 1.07 Billion in 2022.
Segmentation Insights:
- Dominant Application: Sales in the poultry and farming segment are projected to account for 30% of the total market share, indicating a strong foothold in this application segment.
- Product Type Preference: Citric acid is expected to continue gaining traction, driving demand within the organic acid market.
Key Market Trends:
- CAGR Projection: The organic acid market is expected to grow at a CAGR of 5.2% and 4.2% in North America and Latin America, respectively, through 2032.
- Geographic Share: Asia Pacific is anticipated to account for 30% of the total organic acid market share.
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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.
Organic Acid Market By Category
By Product Type:
- Acetic Acid
- Formic Acid
- Propionic Acid
- Ascorbic Acid
- Lactic Acid
- Citric Acid
- Gluconic Acid
- Fumaric Acid
- Malic Acid
- Other Acids
By End-Use Application:
- Poultry and Farming
- Pharmaceuticals
- Industrial
- Food & Beverages
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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