The Global Organic Acids Market size is expected to reach $29.4 billion by 2030, rising at a market growth of 7.5% CAGR during the forecast period. In the year 2022, the market attained a volume of 16,265.2 Kilo Tonnes, experiencing a growth of 6.0% (2019-2022).
Formic acid is a feed additive in livestock nutrition, especially in poultry farming, to enhance feed conversion efficiency and control microbial growth. Therefore, the formic acid segment captured $1,733.4 million revenue in the market in 2022. Its antimicrobial properties improve animal health and performance as an alternative to traditional antibiotics. Formic acid is employed as a reducing agent and pH regulator in the textile industry during dyeing and finishing processes. It helps achieve uniform dyeing, improve colour fastness, and enhance the quality of finished textiles.
Formic acid is commonly used in textile dyeing and finishing processes. It serves as a reducing agent and pH adjuster, contributing to improved dyeing efficiency and colour fixation. The growth of the textile industry increases the demand for formic acid in dyeing applications. Formic acid is widely used in the leather industry, particularly in tanning. Formic acid helps achieve uniform and efficient tanning, resulting in high-quality leather. The expansion of the leather industry drives the demand for formic acid as a key component in tanning processes. These, such as citric acid, are dye-fixing agents in textiles. They help improve the fastness of dyes on fabrics, ensuring vibrant and long-lasting colours. Additionally, modern consumers are more conscious of their food and product choices and prefer clean labels. These, sourced from natural raw materials and often produced through fermentation, are considered clean and transparent ingredients. They contribute to formulating products with simple, easily understandable labels, meeting consumer expectations. There is a global trend away from synthetic additives and chemicals in food and other consumer products. The acids, being naturally occurring compounds, are favoured over synthetic alternatives. Thus, because of the growing demand for natural and clean-label products, the market is anticipated to increase significantly.
However, producing organic acids, particularly through fermentation processes, can be costly. High production costs may limit the competitiveness of these compared to traditional petrochemical-based acids. Finding cost-effective production methods is essential for market sustainability. Producers of these may face reduced profit margins due to high production costs. Limited profitability can hinder companies' incentive to invest in research, development, and expansion, potentially slowing down the overall growth of the market. Higher prices can deter potential consumers from adopting these in various applications. Industries seeking cost-effective solutions may be less inclined to incorporate these, affecting market demand. Therefore, high production costs of the meters are a significant challenge that hampers the growth of market.
Drivers 
Restraints 
Opportunities 
Challenges By type, the market is categorized into acetic acid, citric acid, formic acid, lactic acid, gluconic acid, ascorbic acid, fumaric acid, propionic acid, malic acid, and others. In 2022, the acetic acid segment held the highest revenue share in the market. Acetic acid is a key precursor in producing vinyl acetate monomer, a crucial building block in synthesizing polymers and adhesives. Acetic acid is a solvent in manufacturing various chemicals, resins, and coatings. Its solvent properties make it valuable in producing paints, varnishes, and lacquers. Mineral deposits, including limescale, are eliminated from surfaces in industrial and household cleaning processes using acetic acid as a descaling agent.
On the basis of application, the market is divided into feed, pharmaceuticals, food & beverages, and industrial. The pharmaceuticals segment acquired a substantial revenue share in the market in 2022. Organic acids, such as citric acid, are utilized in drug formulations to adjust the pH, improve stability, and enhance the solubility of pharmaceutical compounds. These serve as excipients in the production of tablets and capsules. These are buffering agents in parenteral solutions, helping maintain injectable pharmaceuticals' desired pH. Organic acids, including citric acid, act as chelating agents in pharmaceutical formulations. They help stabilize drugs by chelating metal ions that can otherwise catalyze chemical reactions leading to degradation.
Free Valuable Insights: Global Organic Acids Market size to reach USD 29.4 Billion by 2030
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the Asia Pacific region led the market by generating the highest revenue share. The food and beverage industry in Asia Pacific is experiencing significant growth. The pharmaceutical and personal care sectors are growing in Asia Pacific. The bioplastics and packaging industry is witnessing growth in Asia Pacific. The Asia-Pacific region's fast industrialization and urbanization fuel the demand for various chemicals. Consumers in Asia Pacific are increasingly seeking functional ingredients in food and personal care products.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 16.6 Billion |
| Market size forecast in 2030 | USD 29.4 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 7.5% from 2023 to 2030 |
| Number of Pages | 348 |
| Number of Table | 670 |
| Quantitative Data | Volume in Kilo Tonnes, Revenue in USD Billion, and CAGR from 2019 to 2030 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Type, Application, Region |
| Country scope |
|
| Companies Included | Cargill, Incorporated, BASF SE, The Dow Chemical Company, Archer Daniels Midland Company, Eastman Chemical Company, Tate & Lyle PLC, DuPont de Nemours, Inc., Corbion N.V., Koninklijke DSM N.V., Celanese Corporation |
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Type (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Geography (Volume, Kilo Tonnes, USD Billion, 2019-2030)
This Market size is expected to reach $29.4 billion by 2030.
Growing demand for natural and clean-label products are driving the Market in coming years, however, High production costs of organic acids restraints the growth of the Market.
Cargill, Incorporated, BASF SE, The Dow Chemical Company, Archer Daniels Midland Company, Eastman Chemical Company, Tate & Lyle PLC, DuPont de Nemours, Inc., Corbion N.V., Koninklijke DSM N.V., Celanese Corporation
In the year 2022, the market attained a volume of 16,265.2 Kilo Tonnes, experiencing a growth of 6.0% (2019-2022).
The Food & Beverages segment is generating highest revenue in the Market by Application in 2022; thereby, achieving a market value of $11.5 billion by 2030.
The Asia Pacific region dominated the Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $12.0 billion by 2030.
Unique Offerings Our team of dedicated experts can provide you with attractive expansion opportunities for your business.
