APAC Organic Acid Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 8.12 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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APAC Organic Acid Market Analysis
Asia-Pacific Organic Acid Market is projected to grow at a CAGR of 8.12% during the forecasted period 2021-2026.
- The rising demand for organic acids in Asia-Pacific is attributed to increasing urbanization and industrialization in major developing economies like China and India. In addition, favorable government policies and lack of strict production and trade regulations would further escalate the Asia-Pacific organic acids market during the forecast period.
- The changing food habits of consumers and rising demand for flavored food beverages, along with the use of natural ingredients, are expected to boost the demand for organic acids in the Asia-Pacfic region.
- Further, due to the global COVID-19 pandemic, the supply chain, production facilities, and various other hindrances have been observed which has certainly impacted the organic acid market in the Asia-Pacific region but for a short period of time.
APAC Organic Acid Market Trends
This section covers the major market trends shaping the APAC Organic Acid Market according to our research experts:
Increasing Demands from RTD Beverages and RTE Foods
The rising demands from RTD beverages and RTE foods is another major factor for the market studied. The Asia-Pacific marketplace has also witnessed the emergence of innovative beverages with exotic and ethnic fruit flavors and flavor blends. Organic acid such as citric acid, lactic acid acts as flavor enhancers for fruits, berries, and other ingredients used in the manufacture of foods and candies. The natural occurrence of citric acid facilitates its classification as a non-toxic component and makes it suitable for use in food products. The growth of RTD beverages is bound to propel the sales of organic acid, which is widely used in RTD teas and beverages, as a general acidulant, stabilizer, or flavor enhancer, because of its balanced functionality and abundant availability.
China Holds the Prominent Share in the Market
China is the largest exporter and producer of organic acid in the region, and globally. The major factor augmenting production is the growing demand from the Chinese chemical industry, coupled with population growth. Organic acid produced by Chinese manufacturers has been exported to more than 100 countries and regions in the world, among them India is the biggest target country. Similarly, Japan is one of the most affluent and cultured consumer markets in Asia, where there is a high demand for healthy products, with descriptive labeling that can provide a better understanding of the ingredients being used in the product formulation. Thus, the manufacturers are using naturally sourced organic acid in food items, which can help sell their products as safe, preservative-free, and natural food in the Japanese market, in order to meet the increasing demand for healthy foods.
APAC Organic Acid Industry Overview
Some of the major players in the Asia-Pacific Organic Acid Market are Jiangsu SOPO (Group) Co., Ltd, Henan Jindan Lactic Acid Technology Co., Ltd, Feichang Acid Chemicals Co., Ltd, Fuso chemical Co. Ltd., and Shandong Liaocheng Luxi Chemical Co., Ltd among others. Further, the companies are also consolidating and restructuring their business in line, with the supply-demand dynamics that facilitate them with sustainable sales growth.
APAC Organic Acid Market Leaders
Jiangsu SOPO (Group) Co., Ltd
Fuso chemical Co. Ltd.
Shandong Liaocheng Luxi Chemical Co., Ltd
Cargill, Incorporated
Tate & Lyle PLC
*Disclaimer: Major Players sorted in no particular order
APAC Organic Acid Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Assumptions and Market Definition
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Drivers
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4.2 Market Restraints
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4.3 Porters Five Forces Analysis
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4.3.1 Threat of New Entrants
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4.3.2 Bargaining Power of Buyers/Consumers
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4.3.3 Bargaining Power of Suppliers
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4.3.4 Threat of Substitute Products
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4.3.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 By Type
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5.1.1 Acetic acid
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5.1.2 Citric acid
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5.1.3 Lactic acid
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5.1.4 Others
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5.2 By Application
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5.2.1 Food & Beverage
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5.2.2 Animal Feed
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5.2.3 Pharmaceuticals
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5.2.4 Others
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5.3 By Geography
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5.3.1 India
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5.3.2 China
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5.3.3 Japan
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5.3.4 Australia
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5.3.5 Rest of Asia-Pacific
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6. COMPETITIVE LANDSCAPE
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6.1 Market Share Analysis
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6.2 Most Active Companies
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6.3 Most Adopted Strategy
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6.4 Company Profiles
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6.4.1 Jiangsu SOPO (Group) Co., Ltd
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6.4.2 Henan Jindan Lactic Acid Technology Co., Ltd
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6.4.3 Cargill, Incorporated
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6.4.4 Feichang Acid Chemicals Co., Ltd
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6.4.5 Tate & Lyle PLC
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6.4.6 DuPont
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6.4.7 Fuso chemical Co. Ltd.
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6.4.8 Showa Kako Corp
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6.4.9 OSAKA ORGANIC CHEMICAL INDUSTRY LTD
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6.4.10 Shandong Liaocheng Luxi Chemical Co., Ltd
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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8. IMPACTOF COVID-19 ON THE MARKET
APAC Organic Acid Industry Segmentation
The Asia-Pacific organic acid market has been segmented by type, application, and geography. Based on type, the market is segmented into acetic acid, citric acid, lactic acid, and others. Based on application, the market is segmented into food & beverage, animal feed, pharmaceuticals, and others. Also, the study provides an analysis of the organic acid market in the emerging and established markets across the region, including India, China, Japan, Australia, and Rest of Asia-Pacific.
| By Type | |
| Acetic acid | |
| Citric acid | |
| Lactic acid | |
| Others |
| By Application | |
| Food & Beverage | |
| Animal Feed | |
| Pharmaceuticals | |
| Others |
| By Geography | |
| India | |
| China | |
| Japan | |
| Australia | |
| Rest of Asia-Pacific |
APAC Organic Acid Market Research FAQs
What is the current Asia-Pacific Organic Acid Market size?
The Asia-Pacific Organic Acid Market is projected to register a CAGR of 8.12% during the forecast period (2024-2029)
Who are the key players in Asia-Pacific Organic Acid Market?
Jiangsu SOPO (Group) Co., Ltd, Fuso chemical Co. Ltd., Shandong Liaocheng Luxi Chemical Co., Ltd, Cargill, Incorporated and Tate & Lyle PLC are the major companies operating in the Asia-Pacific Organic Acid Market.
What years does this Asia-Pacific Organic Acid Market cover?
The report covers the Asia-Pacific Organic Acid Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Asia-Pacific Organic Acid Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Asia-Pacific Organic Acid Industry Report
Statistics for the 2024 Asia-Pacific Organic Acid market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Asia-Pacific Organic Acid analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
