Bio-acetic Acid Market Share

APAC Market Forecast

The bio-acetic acid market in Asia Pacific is projected to be the largest with a share of about 33% by the end of 2037. The growth of the market can be attributed majorly to the growing production of medicines and other pharmaceutical products. Since joining the World Trade Organization, China's pharmaceutical industry has made remarkable progress. As of 2021, China controls 12% of the global pharmaceutical market, trailing only the United States, which accounts for 40% of total global sales. Furthermore, the Asian-Pacific construction sector has been gradually developing and producing more, which has also increased the demand for bio-acetic acid in the region

North American Market Statistics

The North America bio-acetic acid market is estimated to be the second largest, registering a share of about 27% by the end of 2037. The growth of the market can be attributed majorly to the growing consumption of packaged food or ready-to-eat meals. This has increased the usage of bio-acetic acid as a preservative in this food, to present its taste, freshness, and color. In America, around 36% of people consume ready-to-eat meals, and nearly 57% of American adults prefer consuming ready-to-eat food.