Organic Acid Sector: Growth Drivers and Challenges
Growth Drivers
- Growing Sales of Animal Food: For instance, there are about 5500 animal food manufacturing facilities observed to be working solely in the USA that produces around 250 million tons of pet food every year.
- Increasing Pharmaceutical Sales Across the Globe: As of 2021, the entire worth of pharmaceutical sales was estimated to reach around USD 500 billion. Acids are used in medicines and as catalysts in organic and industrialist chemistry. One of the most common examples of organic acids is carboxylic acids. Additionally, they come in many forms such as, citric, formic, lactic, malic, tartaric, oxalic, and others.
- Significant Demand in Agricultural Sector: The grain production across the globe is estimated to be around 55 million tons and was projected to reach approximately 2000 million tons in the time period 2021 to 2022.
- Higher Production of Chemical Fibers: In 2020, approximately 100,000 metric tons of textiles fibers were produced, out of which, around 80,000 metric tons were chemical fibers.
Challenges
- Higher Cost Associated with the Organic Acid Production
- Disrupted Supply-Chain Due to COVID-19
- Possibility of Side-Effect
Organic Acid Market: Key Insights
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
5.2% |
|
Base Year Market Size (2024) |
USD 12.35 billion |
|
Forecast Year Market Size (2037) |
USD 23.87 billion |
|
Regional Scope |
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Browse key industry insights with market data tables & charts from the report:
Frequently Asked Questions (FAQ)
In the year 2025, the industry size of organic acid is evaluated at USD 12.9 billion.
Organic Acid Market size was valued at USD 12.35 billion in 2024 and is expected to reach USD 23.87 billion by 2037, expanding at around 5.2% CAGR during the forecast period i.e., between 2025-2037.
North America industry is expected to dominate majority revenue share by 2037, attributed to the growing demand for organic acid in the chemical industry.
The major players in the market are Tate & Lyle PLC, BASF SE, Archer Daniels Midland Company, Henan Jindan Lactic Acid Technology Co. Ltd., Cargill, Incorporated, Celanese Corporation, Myriant Corporation, and others.
