The North America Organic Acids Market would witness market growth of 6.9% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 3,918.0 Kilo Tonnes, showcasing a growth of 5.7% (2019-2022).
One of the primary drivers for adopting these acids is their extensive use in the food and beverage industry. As customers become more health-conscious and environmentally aware, the demand for natural and clean-label products increases. Organic acids, being naturally occurring compounds, align well with these preferences. The shift away from synthetic preservatives and additives has led food manufacturers to explore these acids as effective alternatives for preserving and enhancing the shelf life of products. Common uses for citric acid, lactic acid, and acetic acid in food and beverage applications include jams and soft drinks, dairy products, and meat preservation.
Adopting these acids is gaining momentum in agriculture due to their multiple benefits in crop protection and soil health. Farmers are increasingly looking for sustainable alternatives to traditional agrochemicals, and organic acids present a viable option. Acids, including formic acid and propionic acid, are utilized to preserve silage, inhibit the proliferation of harmful microorganisms, and maintain the nutritional integrity of animal feed. Furthermore, it aids in soil improvement, disease prevention, and overall plant health, coinciding with the push for sustainable and environmentally friendly farming techniques.
As per the International Trade Administration (ITA), in the first half of 2022, the Canadian cosmetics industry was the fastest-growing industry in the country. In 2022, Canada's personal care and beauty sector earned around $11 billion in revenue. The increasing inclination towards natural and organic ingredients is an emerging trend in the Canadian cosmetics and personal care sector. Acids with antimicrobial properties, such as citric acid and benzoic acid, can be incorporated into personal care products like deodorants and antiperspirants to inhibit the growth of odour-causing bacteria in Canada. The cosmetics and personal care industry is increasingly emphasizing sustainability in Canada. Therefore, the factors mentioned above will drive the regional market growth.
The US market dominated the North America Organic Acids Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $5,960.4 million by 2030. The Canada market is experiencing a CAGR of 7.5% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 7.3% during (2023 - 2030).
Free Valuable Insights: The Organic Acids Market is Predict to reach $29.4 Billion by 2030, at a CAGR of 7.5%
Based on Application, the market is segmented into Food & Beverages, Feed, Pharmaceuticals, and Industrial. Based on Type, the market is segmented into Acetic Acid, Citric Acid, Lactic Acid, Formic Acid, Propionic Acid, Ascorbic Acid, Gluconic Acid, Fumaric Acid, Malic Acid, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Type (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Country (Volume, Kilo Tonnes, USD Billion, 2019-2030)
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