Organic acid are broadly distributed in nature as they appear in animal, microbial and plant sources. They comprise one or more carboxylic acid groups, which may be covalently connected in groups likewise esters, amides, and peptides. Introduction of the organic acids on the large industrial scale is majorly confined to acids of the microbial origin. A number of organic acids of bacterial and fungal origin are essential industrial products, the biological introduction of which has a definite economic benefit over the chemical synthesis.
According to the report analysis, ‘Global
Organic Acids Market Report 2020 by Key Players, Types, Applications,
Countries, Market Size, Forecast to 2026 (Based on 2020 COVID-19 Worldwide
Spread)’
states that Archer Daniels Midland Company, E. I. du Pont de Nemours and
Company, Celanese Corporation, Eastman Chemical Company, Corbion N.V., Cargill
Incorporated, Henan Jindan Lactic Acid Technology Co. Ltd, BASF SE, BioAmber
Inc., Koninklijke DSM N.V., The Dow Chemical Company, Polynt- Reichhold,
Myriant Corporation, Tate & Lyle PLC., and many more are the foremost
corporates which presently functioning in the global organic acids market more
proficiently for ruling across the globe, generating the great percentage of
revenue, obtaining the competitive edge, leading the highest market growth,
registering the great value of market share, and keep maintaining the
competitive position by establishing the several research and development
programs, increasing the applications and benefits of organic acids, spreading
the awareness connected to the specifications and advantages of organic acids,
implementing the policies of profit making and expansion strategies, improving
the qualitative and quantitative measures of such, delivering the better
consumer and decreasing the associated prices of such.
By types, the organic acid market is segmented into Acetic Acid, Citric Acid, Formic Acid, Lactic Acid, Itaconic Acid, Succinic Acid, Gluconic Acid, Ascorbic Acid, Fumaric Acid, and Propionic Acid. By application, the organic acid market is classified into Food & Beverage, Animal Feed, Chemical & Industrial, Pharmaceuticals, Personal Care, Agriculture and many others. Increasing requirement for convenience food and technological modernizations, and introduction of the organic acids from the cost-effective renewable sources are other aspects propelling the market growth. Not only has this, augmented utilization of the organic acids in the animal feed as a substitute of the antibiotic growth promoters (AGP) is another aspect that is projected to propel the market for organic acids throughout the review duration.
Region wise, the global organic acid is
scattered into North America, Asia Pacific, Europe, Latin America and Middle
East and Africa. Such regions are further analysed at the country level with
the comprehensive quantitative and qualitative analysis. It is predicted that
Asia Pacific region registered for the foremost share in the worldwide organic
acid market during the recent past years, followed by Europe and North America.
The region is also anticipated to augment at the highest CAGR throughout review
duration. The foremost share and speedy growth of this economy are majorly
attributed to its increasing economy, speedy industrialization, rural migration
& migrations, increasing food and beverages, animal feed industries, and
pharmaceutical and growing investments by the foremost players in the economy.
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