Organic Acids Market – Snapshot
Organic acid is a type of organic compound that typically has acidic properties. Organic acids are known as weak acids, as they do not disassociate in water completely. For instance, carboxyl acid is a common example of organic acid. Commonly used organic acids are acetic acid, lactic acid, and citric acid. Organic acids are used in a wide range of applications such as bakery, dairy, livestock feed, beverages, and pharmaceuticals. They are either produced naturally or synthetically. They are produced naturally through the fermentation process by several microorganisms. They are synthetically produced on a wide scale for commercial applications such as catalysts, dyes, surfactants, and others.
Organic acids are widely used for regulating the acidic content of foods and also to enhance flavor. The antioxidant and preservative properties of the compounds makes them highly preferred in the food manufacturing industry, thereby boosting the organic acids market. A rise in the global population and GDP growth in developing economies are anticipated to drive demand for organic acids during the forecast period. Furthermore, demand for organic acids is also likely to be high from the pharmaceutical sector, due to their use in various drugs such as phenacetin and aspirin.
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Expansion in the food & beverage industry and rise in production of soft drinks and food products are major factors boosting the global organic acids markets. Moreover, adoption of solar power and energy codes in roofing systems continues to augment the organic acids market. Increase in the consumption of acetic acid in the food & beverage sector is likely to propel the organic acid market in the coming years. Acetic acid is significantly consumed, owing to its antibacterial and antifungal properties. Furthermore, organic acids are useful in regulating acidity and are used as antioxidants, preservatives, and flavor enhancers in a number of food products. These factors are estimated to augment the organic acids market during the forecast period.
However, stringent regulations implemented by governing bodies to limit the use of synthetic organic acids are likely to restrain the market in the next few years. This is because the synthetic variants of organic acids are produced from non-renewable sources and are hazardous to the environment. However, advancements, investments, and developments in the bio-based organic acid are likely to provide lucrative opportunities to the organic acids market in the near future.
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Key players profiled in the report on the global organic acids are Archer-Daniels-Midland Company, Cargill Incorporated, BASF S.E., BioAmber Inc, Genomatica, Inc., Henan Jindan Lactic Acid Technology Co., Ltd., Fuso Chemical Co., Ltd., Koninklijke DSM N.V., Celanese Corporation, Corbion, DowDuPont Inc., Eastman Chemical Company, Elekeiroz SA, LUXI Group, GC Innovation America, NatureWorks LLC, Polynt SpA, and Tate & Lyle.