Organic Acids Market Outlook and Future Projections for 2023

Organic Acids Market Report, published by Allied Market Research, projects that the global market was valued $16,837 million in 2016, and is projected to reach $29,197 million by 2023, growing at a CAGR of 8.3% from 2017 to 2023. The acetic acid segment held approximately one-third of the total market share in 2016.

Organic acids are compounds that possess a carbon atom in its structure and have a molecular formula RCOOH. Citric acid, acetic acid, lactic acid, tartaric acid, malic acid, gluconic acid, propionic acid, and fumaric acid are some of the organic acids used widely in end-use applications such as during formation of drugs, textiles, and adhesives. These acids are produced commercially either by chemical synthesis or from agro-industrial residues. However, fermentation processes are the most commonly used methods. Furthermore, organic acids of tricarboxylic acid cycle can be produced in high yields in microbiological processes.

Download Sample PDF : https://www.alliedmarketresearch.com/request-sample/2181

The traditional production of organic acids relies heavily on petrochemicals, which pose significant environmental risks. In response to these concerns, manufacturers are increasingly turning to eco-friendly raw materials, particularly through fermentation processes that utilize microbes. This shift not only reduces the environmental footprint but also helps producers adhere to stricter regulations. Advances in genetic engineering are further enhancing the efficiency of this microbial production method.

While the food and beverage sector, including applications in poultry and functional foods, remains the primary driver of organic acid demand, the textile industry is emerging as a significant market. Organic acids are employed in various textile processes such as dyeing and neutralizing, contributing to the industry's growth. The textile chemicals market in Asia is projected to exceed USD 25 Billion by 2034, creating ample opportunities for organic acid applications.

Purchase Enquiry Report @ https://www.alliedmarketresearch.com/purchase-enquiry/2181

Key Findings of the Organic Acids Market Study:
• In terms of value, the succinic acid segment is anticipated to show the highest growth rate of 29% during the analysis period.
• Asia-Pacific is projected to maintain its lead throughout 2023, growing at a CAGR of 7.1%, in terms of value.
• Agro & industrial waste segment occupied approximately one-fifth of the total market in 2016.
• Germany occupied nearly one-fourth of the total Europe organic acids market in 2016.
• In terms of value, China is expected to grow at a CAGR of 6.5% from 2017 to 2023.

Organic Acid Market Segmentation Analysis:

By Product Type:

Acetic Acid
Formic Acid
Propionic Acid
Ascorbic Acid
Lactic Acid
Citric Acid
Gluconic Acid
Fumaric Acid
Malic Acid
Other Acids

By Application:

Poultry & Farming
Pharmaceuticals
Industrial
Food & Beverages

Interested in Procuring this Report? Visit Here: https://www.alliedmarketresearch.com/organic-acids-market/purchase-options

The major companies profiled in the report include BASF SE, Cargill, Inc., The Dow Chemical Company, Eastman Chemical Company, Myriant Corporation, Calanese Corporation, Archer Daniels Midland Company, Henan Jindan Lactic Acid Technology Co. Ltd., Tate & Lyle Plc., and E. I. Du Pont De Nemours and Company.

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com

About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.