Europe Organic Acids Market is worth USD 3 billion in 2022 and estimated to grow at a CAGR of 5.7%, to reach USD 3.96 billion by 2028. The Europe Organic Acids market is developing at an exceptionally quick pace.
Organic acids are feeble acids that don't totally separate in water when contrasted with mineral acids. Organic acids, for example, formic corrosive and lactic corrosive are miscible in water; in any case, higher sub-atomic mass organic acids, for example, benzoic corrosive are totally insoluble in unbiased frame. Lactic corrosive and formic corrosive were generally created by aging procedure, yet improvement in biotechnology field and advances in synthetic combination supplanted the before aging procedure. Moreover, different agro-modern deposits, for example, cassava bagasse, espresso husk, apple pomace, soybean, sugarcane, corn-cobs, squeeze mud, citrus pulps, wheat grain, and kiwi natural product peel are being sent for the creation of organic acids.
Drivers and Restraints:
The significant drivers for Organic Acids are increase in demand for organic acids in healthcare sector, rise in population and GDP growth. Also Increase in R&D to produce effective organic acids from bio-based sources in developing economies will boost this industry. However strict government policies in the area of Organic Acids limits this industry.
Europe Organic Acids Market Segmentation Analysis:
The Europe market for Organic Acids is segmented on the basis of type, application and region. Based on type, the market is segmented into Formic Acid, Lactic Acid, Propionic Acid,Acetic Acid, Citric Acid, Ascorbic Acid, Gluconic Acid, Fumaric Acid. Based on application, the market is segmented into Feed, Pharmaceuticals, Food & Beverages, and Industrial. The chemical & industrial segment ruled the global market in 2016, and is expected to maintain its dominance throughout the forecast period. The agriculture segment is estimated to grow significantly during the forecast period.
The Europe market has been geographically segmented into Germany, U.K, France, Spain, and Italy. The Europe had high CAGR during the forecast period. The reasons for the same might be the government policies.
Key Players in the Market:
Archer Daniels Midland Company (U.S.), Eastman Chemical Company (U.S.), Corbion (Netherlands), Myriant Corporation (U.S.), Cargill (U.S.), BASF SE (Germany), Dow Chemical Company (U.S.), Henan Jindan Lactic Acid Technology Co. Ltd (China), Polynt-Reichhold (Italy), Tate & Lyle (U.K.), Koninklijke DSM N.V. (Netherlands), and E.I. Du Pont De Nemours & Company (U.S.).are the leaders in the Europe Organic Acids market.
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