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Organic Acid Market Size & Share, by Type (Acetic, Formic, Citric, Lactic, Itaconic, Propionic, Succinic); Source (Starch, Molasses, Agro-Industrial, Chemical Synthesis); End-user (Animal Feed, Chemical & Industrial, Personal Care, Food & Beverage) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 81
  • Published Date: Sep 30, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Organic Acid Market size was over USD 11.74 billion in 2023 and is anticipated to reach USD 22.69 billion by 2036, witnessing around 5.2% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of organic acid is estimated at USD 12.23 billion.

Further, the market generated a revenue of ~USD 10 Million in the year 2021. The growth of the market can primarily be attributed to the higher utilization of organic acids in the food and beverage industry. For instance, the revenue generated by the food segment was estimated to be dropped to about USD 250 billion in 2022.

Global market trends such as, higher demand for organic acids in the personal care industry and skyrocketing utilization in the food and additive industry are projected to influence the growth of the market positively over the forecast period. It is observed that the sales of organic food dropped to around USD 50 billion in 2020 which was an increase from about USD 10 billion in 2005. Organic acids are those organic compounds that have acidic properties. These acids are added to food as flavorants & acidulants and utilized in a wide array of industries. Hence, all these factors are anticipated to hike the market growth over the forecast period.

Organic Acid Market Overview
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Organic Acid Sector: Growth Drivers and Challenges

Growth Drivers

  • Growing Sales of Animal Food: For instance, there are about 5500 animal food manufacturing facilities observed to be working solely in the USA that produces around 250 million tons of pet food every year.
  • Increasing Pharmaceutical Sales Across the Globe: As of 2021, the entire worth of pharmaceutical sales was estimated to reach around USD 500 billion. Acids are used in medicines and as catalysts in organic and industrialist chemistry. One of the most common examples of organic acids is carboxylic acids. Additionally, they come in many forms such as, citric, formic, lactic, malic, tartaric, oxalic, and others.
  • Significant Demand in Agricultural Sector: The grain production across the globe is estimated to be around 55 million tons and was projected to reach approximately 2000 million tons in the time period 2021 to 2022.
  • Higher Production of Chemical Fibers: In 2020, approximately 100,000 metric tons of textiles fibers were produced, out of which, around 80,000 metric tons were chemical fibers.

Challenges

  • Higher Cost Associated with the Organic Acid Production
  • Disrupted Supply-Chain Due to COVID-19
  • Possibility of Side-Effect

Organic Acid Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

5.2%

Base Year Market Size (2023)

USD 11.74 billion

Forecast Year Market Size (2036)

USD 22.69 billion

Regional Scope
  • North America (U.S., and Canada)
  • Asia Pacific (Japan, China, India, Indonesia, South Korea, Malaysia, Australia, Rest of Asia Pacific)
  • Europe (UK, Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Latin America (Mexico, Argentina, Brazil, Rest of Latin America)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Organic Acid Segmentation

The global organic acid market is segmented and analyzed for demand and supply by end-user into animal feed, chemical & industrial, personal care, food & beverage, and others, out of which, the chemical & industrial segment is projected to witness noteworthy growth over the forecast period. The growth of the segment can be accounted to the rising utilization of organic acid in the respective industry. For instance, the revenue generated by the global chemical industry was estimated to be approximately USD 4 trillion in 2021.

Our in-depth analysis of the global market includes the following segments:

 

By Type
  • Acetic
  • Formic
  • Citric
  • Lactic
  • Itaconic
  • Propionic
  • Succinic
  • Others

 

By Source
  • Starch
  • Molasses
  • Agro-Industrial
  • Chemical Synthesis
  • Others

By End-User
  • Animal Feed
  • Chemical & Industrial
  • Personal Care
  • Food & Beverage
  • Others

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Organic Acid Industry - Regional Synopsis

North America Market Statistics

Regionally, the global organic acid market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. North America is estimated to account for largest revenue share by 2036, attributed to the growing demand for organic acid in the chemical industry. For instance, in 2021, the value of chemical shipment in the United States was estimated to be around USD 750 billion. Additionally, the presence of major key players and rising R&D in the production of efficient organic acids are projected to propel the growth of the market over the forecast period.

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Organic Acid Market Share
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Companies Dominating the Organic Acid Landscape

    • Koninklijke DSM N.V.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Tate & Lyle PLC
    • BASF SE
    • Archer Daniels Midland Company
    • Henan Jindan Lactic Acid Technology Co. Ltd.
    • Cargill, Incorporated
    • Celanese Corporation
    • Myriant Corporation
    • Eastman Chemical Company
    • DuPont de Nemours, Inc.

In the News

  • BASF SE to launch Thermoplastic Polyurethane Paint Protection Film, a product from series RODIM. This paint protection is developed for cars to provide long-lasting automotive coating and is launched in the Asia Pacific region.
  • Tate & Lyle PLC to increase the duration of collaboration with APC Microbiome Ireland. The collaboration is regarding dietary fibre research to figure out the impact of these fibres on the gut microbiome.  

Author Credits:  Rajrani Baghel


  • Report ID: 81
  • Published Date: Sep 30, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Higher utilization of organic acids in the food and beverage industry and growing sales of animal food are estimated to majorly boost market growth.

The market is anticipated to attain a CAGR of ~6% over the forecast period, i.e., 2022 – 2031.

The higher costs associated with the organic acid production and disrupted supply chain due to COVID-19 are estimated to challenge the market growth.

The market in North America region is projected to hold the largest market share by the end of 2031 and provide more business opportunities in the future.

The major players in the market are Tate & Lyle PLC, BASF SE, Archer Daniels Midland Company, Henan Jindan Lactic Acid Technology Co. Ltd., Cargill, Incorporated, Celanese Corporation, Myriant Corporation, and others.
Organic Acid Market Report Scope

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