According to TechSci Research report, “Organic Acid Market – Global Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2018-2028”, Global Organic Acid Market stood at USD 11.42 billion in 2022 and is anticipated to grow with a CAGR of 5.28% % through 2028. This can be ascribed to collaborations and partnerships among leading companies with a diverse approach to merge the expertise of individual companies and to strengthen their position in the market.
The utilization of organic acids in personal care products is contributing to the growth of the global organic acid market. Organic acids, such as lactic acid, citric acid, and glycolic acid, are commonly employed in skincare products, including cleansers, toners, and exfoliants.
These acids aid in gently exfoliating the skin, stimulating cell turnover, and enhancing skin texture and appearance. With the escalating demand for natural and clean beauty products, organic acids are gaining popularity due to their plant-based origins and minimal environmental impact. Consumers are actively seeking products with fewer synthetic chemicals, and organic acids present a viable alternative. Furthermore, certain organic acids, such as salicylic acid, are recognized for their efficacy in acne treatment. They facilitate skin exfoliation, pore unclogging, and inflammation reduction, making them a prevalent component in acne-fighting formulations.
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Organic acids like hyaluronic acid and ferulic acid are extensively utilized in anti-aging products. They effectively moisturize the skin, diminish the visibility of fine lines and wrinkles, and provide protection against environmental damage. Government policies and initiatives also play a crucial role in driving the global organic acids market.
The United States Department of Agriculture (USDA) has recently unveiled a comprehensive plan to invest a substantial amount, up to $300 million, in a groundbreaking organic transition initiative. The primary objective of this significant investment is to enhance and optimize organic supply chains, extend valuable support to organic producers, and foster the overall growth and development of the organic sector.
These crucial initiatives encompass financial assistance and valuable resources that contribute to the sustained expansion and success of organic acid producers. Governments worldwide are implementing schemes and programs to promote organic farming practices. These initiatives seek to decrease the reliance on synthetic chemicals, including conventional fertilizers and pesticides, and foster the adoption of organic inputs, such as organic acids, in agricultural production. .
The resulting surge in demand for organic acids from the agriculture sector contributes to the expansion of the global market. Mergers and acquisitions of well-renowned companies are also attributed to register lucrative growth in the Global Organic Acids Market in the forecast period.
Collaborations facilitate the amalgamation of research and development endeavors in companies, resulting in accelerated innovation and the creation of novel and enhanced organic acid products. By pooling resources and expertise, companies can explore untapped applications, optimize production processes, and maintain a competitive edge.
Partnerships often entail the sharing of technological advancements and expertise. Through the integration of knowledge and resources, companies can advance the development and implementation of new technologies for organic acid production, purification, and application. This drives efficiency, cost-effectiveness, and product quality improvements, fostering market growth. For instance, in August 2022, ADM and LG Chem forged joint ventures to manufacture corn-based lactic acid and polylactic acid in response to the increasing demand for a range of plant-based products, including bioplastics.
However, growth in environmental concern and adherence to stringent regulations and compliance standards associated with organic acids are expected to slow down the growth of the market in the coming years.
The Global Organic Acid Market segmentation is based on Type, End Use, By Company, and Region.
Some of the major companies operating in the Global Organic Acid Market include:
- Celanese Corporation
- Jiangsu sopo chemical co. ltd.
- Eastman Chemicals Company
- Archer Daniels Midland
- Tate and Lyle Plc.
- BASF SE
- Dow Chemical
- BioAmber Inc.
- Henan Jindan Lactic Acid Technology Co., Ltd.
- Nature Works LLC
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“Certain regions, particularly the Asia-Pacific, are projected to exert significant demand for organic acid worldwide. The growth in the competitive landscape and the presence of well-established companies in the market, committed to enhancing their organic acid productivity each year, are expected to contribute to a remarkable growth of the Global Organic Acid market in the forecast period.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based Global management consulting firm.
Global Organic Acid Market By Type (Acetic Acid, Citric Acid, Formic Acid, Lactic Acid, Others), By End Use (Industrial, Food & Beverage, Pharmaceutical, Personal Care, Others), By Region, By Competition Forecast & Opportunities, 2018-2028F has evaluated the future growth potential of Global Organic Acid Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide innovative market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Organic Acid Market.
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Table of Content-Organic Acid Market
- Product Overview
1.1. Market Definition
1.2. Scope of the Market
1.2.1. Markets Covered
1.2.2. Years Considered for Study
1.2.3. Key Market Segmentations
- Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
- Executive Summary
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, Trends
- Voice of Customer
- Global Organic Acid Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value & Volume
5.2. Market Share & Forecast
5.2.1. By Type (Acetic Acid, Citric Acid, Formic Acid, Lactic Acid, Others)
5.2.2. By End Use (Industrial, Food & Beverage, Pharmaceutical, Personal Care, Others)
5.2.3. By Region
5.2.4. By Company (2022)
5.3. Market Map
- North America Organic Acid Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value & Volume
6.2. Market Share & Forecast
6.2.1. By Type
6.2.2. By End Use
6.2.3. By Country
6.3. North America: Country Analysis
6.3.1. United States Organic Acid Market Outlook
6.3.1.1. Market Size & Forecast
6.3.1.1.1. By Value & Volume
6.3.1.2. Market Share & Forecast
6.3.1.2.1. By Type
6.3.1.2.2. By End Use
6.3.2. Mexico Organic Acid Market Outlook
6.3.2.1. Market Size & Forecast
6.3.2.1.1. By Value & Volume
6.3.2.2. Market Share & Forecast
6.3.2.2.1. By Type
6.3.2.2.2. By End Use
6.3.3. Canada Organic Acid Market Outlook
6.3.3.1. Market Size & Forecast
6.3.3.1.1. By Value & Volume
6.3.3.2. Market Share & Forecast
6.3.3.2.1. By Type
6.3.3.2.2. By End Use