The global organic acid market is anticipated to flourish at a CAGR of 6.1% during the forecast period 2017-2024. Further, the market of organic acid was valued at USD 6.94 Billion in 2016 and is projected to garner USD 11.94 Billion by the end of 2024.
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“Global Organic Acid Market Analysis & Opportunity Outlook 2024”
The global organic acid market has been segmented by applications into petrochemicals, food & beverages, textile and adhesives, pharmaceuticals and others. Among these segments, petrochemicals and pharmaceuticals segments are expected to dominate the overall organic acid market during the forecast period.
The Global Organic Acid Market is accounted for USD 6.94 Billion in 2016 and is anticipated to witness market valuation of USD 11.94 Billion by the end of 2024 by expanding at compound annual growth rate of 6.1% over the period 2017-2024. Growth of pharmaceutical industry is one of the major factors that are anticipated to drive the growth of global organic acid market with noteworthy revenue by the end of forecast period. Further, escalating demand for bio-organic acids is expected to benefit the expansion of global organic acid market in upcoming years.
Regionally, China, India and Japan are estimated to drive the growth of global organic acid market in Asia Pacific region with significant portion of market share in the overall market of organic acid during the forecast period. Rapidly expanding population and growing industrialization are some of the factors that are projected to propel the growth of global organic acid market. Further, increasing number of guidelines to control the use of several synthetic organic acids is estimated to boost the North America organic acid market in upcoming years. Additionally, organic acid market is projected to grow with substantial rate in Europe region.
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Adoption of Bio Fertilizers Reflect Significant Opportunities
The growth of the global organic acid market is driven by the rise in food & beverage and pharmaceutical industries across the developing nations. Additionally, rising adoption of bio fertilizers and boom in research and development along with innovation of new technology such as micro-encapsulation are some of the factors that are driving the growth of global organic acid market across the globe. However, stringent government foundations to control production of organic acids from non-renewable sources are likely to inhibit the growth of the global organic acid market in the near future.
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The report titled “Global Organic Acid Market Analysis & Opportunity Outlook 2024” delivers detailed overview of the global organic acid market in terms of market segmentation by type, by source, by application and by region. Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global organic acid market which includes company profiling of DSM Cargill, The Dow Chemical Company, BASF SE, Tate & Lyle, Myriant Corporation, Bio Amber, Genomatica, Senvia Chemicals and Discovery Fine Chemicals. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global organic acid market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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