Organic acids are organic compounds having weak acidic properties and do not dissolve completely in water. They essentially have carbon and hydrogen atoms in their structure. These acids are found naturally in plants and animals. For instance, Acetic acid (found originally in vinegar), citric acid (present in lemon), lactic acid (found in milk), and many more. Since these are naturally occurring acids, they can be consumed by humans in a raw state and are not required to go through any process in the laboratory.
According to the research report, ‘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, BASF SE, Henan Jindan Lactic Acid Technology Co. Ltd, BioAmber Inc., Koninklijke DSM N.V., The Dow Chemical Company, Polynt- Reichhold, Myriant Corporation, Tate & Lyle PLC., are some of the top leading players driving the industry. The report presents an inclusive study of important sections like corporation trends (under covid-19), industry news and policies, cost structure analysis, sales, and marketing model, and much more. The report further includes company profiling of each player based on parameters such as a company overview, Production Capacity, Revenue, Key business offerings, financial performance, Risk analysis, Recent developments, regional presence, and SWOT analysis. The report further tells how far along the player stands in the competition and the key strategies these companies make to stay in the competition.
Additionally, the report also has sections focusing primarily on the market as a whole before and after covid-19 such as market dynamics, market synopsis, and market trends (historic and current). Along with this, it also throws light on the consequences of covid 19 by discussing application details, forecast predictions, data on sales and demand, recent technologies, various features of the market, and investment opportunities that can be tapped. The report also mentions several growth driving incentives, challenges, and restraints of the market.
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The global market is further classified into various segments stated as: Based on type – Acetic Acid, Citric Acid, Formic Acid, Lactic Acid, Itaconic Acid, Succinic Acid, Gluconic Acid, Ascorbic Acid, Fumaric Acid, and Propionic Acid. Based on application – Food & Beverage, Animal Feed, Chemical & Industrial, Pharmaceuticals, Personal Care, Agriculture, and Others. Based on the geographical region – North America (the United States, Canada, and Mexico; Europe ( Germany, UK, France, Italy, Spain, Russia, and others; Asia Pacific region (China, Japan, South Korea, Australia, India); Southeast Asia; countries of the Middle East and Africa( Saudi Arabia, UAE, Egypt, Nigeria, South Africa, and others); South American region ( Brazil, Colombia, Chile, Argentina, and others).
In the forthcoming years, the global organic acid market will continue to rise and is expected to reach a value in terms of revenue of USD million by the end of 2026 at a double-digit CAGR during the evaluation period of 2020-2026. The increasing use of organic acids in the food and beverages industry will act as a catalyst in increasing the global demand for organic acids and thus leading the market to grow.
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Ankur Gupta, Head Marketing & Communications