World Coronavirus Impact: Organic Acids Market Detailed Analysis of Current Industry Figures With Forecasts Growth By 2024

Albany, USA, 2020-Jun-09 — /EPR Network/ —As the coronavirus disease (COVID-19) crisis takes over the world, we are frequently tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our evaluate about the latest market trends and forecasts are being done after considering the impact of this covid-19 pandemic.

According to the latest market research report, published by Fast. MR covers a detailed analysis of, “Organic Acids Market – By Product Type (Acetic Acid, Formic Acid, Lactic Acid, Citric Acid, Propionic Acid, Ascorbic Acid, Gluconic Acid, Fumaric Acid, Malic Acid, Other Products), By Application (Bakery & Confectionery, Dairy, Beverages, Poultry, Meat, Seafood, Livestock Feed, Companion Animal Feed, Pharmaceuticals, Industrial, Others) & Global Region – Market Size, Trends, Opportunity, Forecast 2018-2024.” The study comprises of major industry trends and insights that play an important role in the market growth. Also, the report covers forecast revenue growth at global, regional and country levels, providing a detailed analysis of the industry.

Vast Expansion Of Poultry Industry Driving Organic Acids Market

The poultry sector is observing a steady growth in the production of chicken meat. As per the stats released by the United States Department of Agriculture (USDA) in 2018, chicken meat production increased from 11,700 kilotons in 2018 to 13,800 kilotons in 2019. To sustain a higher production rate, poultry farmers use therapeutics and antibiotic growth promoters (AGP) to control the microbial population. Excessive use of these promoters results in antibiotic resistance leading to a public health concern.

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Due to the imbalance created by the use of AGP or related products, researchers started looking for a new alternative solution. Organic acid proved to be one of the potential substitutes as they contain antimicrobial elements against pathogenic bacteria, thereby directly improving nutrient digestion and providing health growth. Thus, growth in the production of poultry is anticipated to drive the organic acid market growth.

Preservative Food Sector Commencing Growth Of Organic Acid

Busy lifestyle coupled with the rise of work culture is the key driver for fueling the demand for preservative foods. Food preservatives are the ingredients used to increase the shelf cycle of the product. These preservatives act as a barrier against microorganisms, thereby, delaying spoiling and increasing shelf life. The global food preservatives industry observed a growth rate of 3.1% from 2017 to 2018 as per the stats released by the European Food Safety Authority (EFSA) in 2018.

The steady growth of the food preservatives sector directly relates to the growth of organic acids. These products are characterized by their strong microbial action over pathogenic bacteria. The shift in the consumer’s paradigm, especially towards long shelf value food products, is projected to boost the demand for organic acids.

Rising Popularity Of Organic Acid Additives In Coolant Technology

Organic acid technology (OAT) coolants consist of two or more carboxylic acid additives that provide superior protection to ferrous metal and aluminum. The use of organic acid for coolant purposes was first employed by the British Military in 1970. Over the time period, European automotive manufacturers combined with coolant producers derived the OAT coolants.

Increasing demand for an effective coolant system in heavy-duty vehicles is projected to drive the demand for organic acids. The sale of heavy-duty construction vehicles increased from more than 800,000 thousand units in 2017 to more than 1,000,000 units in 2018. Alone, in India, the sales volume of machinery reached nearly 98,000 units in 2018. Thus, the strong growth of construction equipment is projected to fuel the demand for coolants and thereby, positively augmenting the growth of the organic acid market.

Rapid Growth Of Food Processing Centers

The number of food processing centers over the last decade has observed substantial growth, especially in the Asia Pacific region. The region is the home of nearly 60% of the global population consisting of two most populous nations of the world India and China. The significant growth in the region’s population fueled the demand for food processing centers and thereby, for food preservatives such as organic acids.

 

In India, the food processing industry is one of the biggest industries and accounts for nearly 32% of the nation’s food sector. Food processing manufacturing in the country represented nearly 14.0% of its GDP in 2018. The total export of food-related products from India valued at nearly USD 1.3 billion in 2017. To support this prominent growth, the government of India is offering supportive licensing and 100% export-reliant units. Thus, healthy domestic demand coupled with steady export-oriented strategies is likely to prosper the food processing centers in the country.

Rising Importance of Healthy or Fresh Food Hamper Organic Acid Market Growth

An increasing movement towards adopting a healthy lifestyle and using fresh food for consumption is resulting in a wide range of adoption of veganism. The rising momentum of veganism is projected to affect meat consumption and thereby, directly threatening the demand for organic acids.

Movement of veganism started gaining prominence since 2014, the highest rate of veganism adoption was observed in the UK. The UK was responsible for launching the highest number of vegan foods compared to any other nation in 2018. In addition, food orders for vegan food observed the growth of nearly 387% from 2016 to 2018. In addition, meat-free product demand in the UK increased by nearly 980% in 2017, suggesting a heavy inclination of consumers towards veganism. The continuous adoption of veganism is projected to restrain the market growth of organic acid over the coming years.

Organic Acid Definition

An organic compound comprising of acidic properties is defined as the organic acid. The most common forms of the products include lactic acid, formic acid, acetic acid, oxalic acid, uric acid, malic acid, among others. Lower molecular mass organic acids show miscible properties in water whereas higher molecular mass organic acids are insoluble in molecular form.

We have segmented the market on the basis of the following categories:

By Product Type

– Acetic Acid

– Formic Acid

– Lactic Acid

– Citric Acid

– Propionic Acid

– Ascorbic Acid

– Gluconic Acid

– Fumaric Acid

– Malic Acid

– Other Products

By Application

– Bakery & Confectionery

– Dairy

– Beverages

– Poultry, Meat, and Seafood

– Livestock Feed

– Companion Animal Feed

– Pharmaceuticals

– Industrial

– Others

By Geography

– North America (U.S. & Canada)

– Europe (Germany, United Kingdom, France, Italy, Spain, Russia and Rest of Europe)

– Asia Pacific (China, India, Japan, South Korea, Indonesia, Taiwan, Australia, New Zealand and Rest of Asia Pacific)

– Latin America (Brazil, Mexico, Argentina and Rest of Latin America)

– Middle East & Africa (GCC, North Africa, South Africa and Rest of the Middle East & Africa)

Company Profile

– Archer Daniels Midland Company

– BASF SE

– BioAmber Inc

– Cargill

– Celanese Corporation

– Corbion NV

– DowDuPont

– Eastman Chemical Company

– Elekeiroz SA

– Fuso Chemical

– Genomatica

– Henan Jindan Lactic Acid Technology Co. Ltd.

– Koninklijke DSM N.V.

– LUXI group

– Myriant Corporation

– NatureWorks LLC

– Polynt-Reichhold

– Tate & Lyle

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