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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