Press release
Succinic Acid Market is Poised to Grow at a CAGR of 6.5% to Reach US$ 318.93 Million by 2035
Succinic Acid Market
The global succinic acid market in 2024 witnessed steady growth as the demand for bio-based chemicals and sustainable products grew across different industries like food & beverages, pharmaceuticals, and biodegradable plastics. Industry players focused on improving manufacturing processes, with the majority shifting from fermentation technologies to conventional petrochemical manufacturing due to growing demands for sustainability.
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Segment-wise Analysis
By Type
Between 2025 and 2035, the most lucrative segment will be bio-based succinic acid driven by the global push toward sustainable and green chemicals. As industries and consumers increasingly focus on sustainability, the bio-based succinic acid segment will see a growth rate of around 8.6% CAGR between 2025 and 2035.
By End Use
During 2025-2035, the food and beverages segment will be the highest revenue-generating end use segment for succinic acid. As there is more consumer awareness about food quality and sustainability, the food & beverages segment is likely to grow at a CAGR of around 7.9% during 2025-2035, outpacing the overall industry growth rate of 6.5%.
Country-Wise Analysis
Fact.MR envisions the American industry to witness a strong growth rate of CAGR 5.2% during the years 2025-2035, influenced by growing demand for green and ecologically friendly variants. The regulation pressure and trending shift toward using green chemistry as a mode for manufacturing are slated to help improve the renewable-based manufacturing processes to grow.
China's strategic move to cut carbon emissions and enhance environmental management coincided with the shift to bio-based manufacturing processes. Country's industry revenue will increase at a CAGR of 6.7% throughout the forecast period with continued investment in sustainability and green manufacturing practices.
Being the largest economy in Europe, Germany continues to emphasize sustainability, with a number of policies favoring bio-based production. In turn, the food and beverage industry is witnessing growing demand for clean-label and sustainable products. German industry is expected to post steady growth at a CAGR of 5.5% during 2025-2035.
The regulatory landscape is gradually moving towards green solutions, especially in the food and beverage industry, with clean-label ingredients becoming increasingly popular. South Korea's booming tech ecosystem will also see innovations in production processes that enable more sustainable and efficient alternatives.
Competitive Landscape of the Succinic Acid Industry
The business is fairly concentrated, with multinational chemical behemoths and specialty bio-based companies at the forefront. Although industry-leading multinationals with heavy industry shares are at the top of the business, emerging bio-succinic acid players are making waves, particularly in the sustainable and green industries.
Industry players are emphasizing low-cost manufacturing practices, biotechnology, and joint ventures in furthering their agendas. Competitive advantage is hinged on price positions, use of renewable feedstocks, and rigorous environmental regulations. Expansion into rapidly expanding end-use markets like biodegradable plastics, drugs, and food additives remains focused.
In 2024, BASF SE expanded Europe's capacity for bio-succinic acid production to meet growing demand for sustainable chemical intermediates in the automotive and packaging industries. Roquette Frères launched a new ultra-pure grade of bio-succinic acid in early 2024 for pharmaceuticals and food applications.
Corbion NV collaborated more with an Asian biochemical firm to develop lower production costs and enhance supply chain for bio-succinic acid. Mitsubishi Chemical Corporation did, however, invest in catalytic conversion technology research and development as a means of increasing yield efficiency within the manufacturing process.
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Key Players
Thyssenkrupp AG
Kawasaki Kasei Chemicals
Nippon Shokubai Co. Ltd
Ernesto Ventós S.A.
Spectrum Chemical Manufacturing Corp
Fuso Chemical Co., Ltd
R-Biopharm AG
ESIM Chemicals
Anhui Sunsing Chemicals Co., Ltd
Novomer Inc.
DuPont
Cargill
ADM (Archer Daniels Midland)
Segmentation
By Type :
Petro-based Succinic Acid
Bio-based Succinic Acid
By End Use :
Industrial Sector
Coatings
Food & Beverages
Cosmetics
Other End Uses
By Region :
North America
Latin America
Europe
APAC
MEA
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