Bio-Organic acid Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The market is segmented By Raw Material (Biomass, Corn, Maize, Sugar, and Others), Product Type (Bio Lactic Acid, Bio Acetic Acid, Bio Adipic Acid, Bio Acrylic Acid, Bio Succinic Acid, and Others), Application (Polymers, Healthcare, Textile, Coatings, Food, and Others), and Geography (Asia-Pacific, North America, Europe, South America, and Middle East & Africa)

  • ABOUT THIS REPORT
    • Market Snapshot
    • Market Overview
    • Scope of the Report
    • Key Market Trends
    • Competitive Landscape
    • Major Players
  • TABLE OF CONTENTS

Market Snapshot

Study Period:

2016-2025

Base Year:

2019

Fastest Growing Market:

Asia Pacific

Largest Market:

Europe

CAGR:

5 %

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Market Overview

The market for bio-organic acid is expected to grow at a CAGR of more than 5% during the forecast period. Major factors driving the market studied are stringent regulations over conventional organic acids, growing demand for bio-based polymer in healthcare.

  • Shifting focus on eco-friendly products is likely to act as an opportunity.
  • Asia-Pacific dominated the market across the globe with the largest consumption in countries such as India, China, etc.

Scope of the Report

The bio-organic acid market report includes:

Raw Material
Biomass
Corn
Maze
Sugar
Others
Product Type
Bio Lactic Acid
Bio Acetic Acid
Bio Adipic Acid
Bio Acrylic Acid
Bio Succinic Acid
Others
Application
Polymers
Healthcare
Textile
Coatings
Food
Others
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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Key Market Trends

Bio-lactic Acid Segment to Dominate the Market Growth

  • Lactic acid (2-hydroxypropanoic acid) is a natural organic acid used in various industries, including food and non-food industries, such as the cosmetic and pharmaceutical industries. It is used in the production of oxygenated chemicals, plant growth regulators and special chemical intermediates. The demand for lactic acid has increased considerably due to its wide range of applications. Presently, lactic acid can be produced either by chemical synthesis or by microbial fermentation.
  • Lactic acid is majorly used to produce Poly Lactic Acid (PLA). The market for lactic acid in Europe has depicted stable growth and is expected to portray the same trend over the forecast period. Growing demand for PLA in packaging applications, especially food packaging, is anticipated to drive the demand for lactic acid in the European market.
  • A growing number of polymer applications and stringent regulations overuse of conventional plastic products in various end-use applications are anticipated to boost the demand for PLA in the region.
  • This, in turn, is anticipated to propel the lactic acid market

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Asia-Pacific Region to Dominate the Market Growth

  • Though Europe is the largest regional market for global bio-organic acid, Asia-Pacific is also an important market as it represents the fastest-growing regional market.
  • The increasing demand from healthcare, food & beverage, and textile industries of countries, like China, India, Thailand, and Korea are, in turn, providing a great opportunity for the bio-organic acid market to continue its fast pace of growth.
  • Moreover, since the product is an intermediate and is bio-degradable in nature, it has been widely accepted by the industries for various purposes, such as polymer resins.
  • The large market size, with its huge growth in the Asia-Pacific region, is instrumental in the expansion of the global bio-organic acid market.

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Competitive Landscape

The bio-organic acid market is fragmented. Some of the major players include BASF SE, DSM, Mitsubishi Chemical Corporation, Cargill, Incorporated, and GC Innovation America, amongst others.

Major Players

  1. BASF SE
  2. DSM
  3. Mitsubishi Chemical Corporation
  4. Cargill, Incorporated

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Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Stringent Regulations Over Conventional Organic Acids

      2. 4.1.2 Growing Demand for Bio-based Polymer in Healthcare Applications

    2. 4.2 Restraints

      1. 4.2.1 Higher Production Cost of Bio-based Chemicals

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Raw Material

      1. 5.1.1 Biomass

      2. 5.1.2 Corn

      3. 5.1.3 Maze

      4. 5.1.4 Sugar

      5. 5.1.5 Others

    2. 5.2 Product Type

      1. 5.2.1 Bio Lactic Acid

      2. 5.2.2 Bio Acetic Acid

      3. 5.2.3 Bio Adipic Acid

      4. 5.2.4 Bio Acrylic Acid

      5. 5.2.5 Bio Succinic Acid

      6. 5.2.6 Others

    3. 5.3 Application

      1. 5.3.1 Polymers

      2. 5.3.2 Healthcare

      3. 5.3.3 Textile

      4. 5.3.4 Coatings

      5. 5.3.5 Food

      6. 5.3.6 Others

    4. 5.4 Geography

      1. 5.4.1 Asia-Pacific

        1. 5.4.1.1 China

        2. 5.4.1.2 India

        3. 5.4.1.3 Japan

        4. 5.4.1.4 South Korea

        5. 5.4.1.5 Rest of Asia-Pacific

      2. 5.4.2 North America

        1. 5.4.2.1 United States

        2. 5.4.2.2 Canada

        3. 5.4.2.3 Mexico

      3. 5.4.3 Europe

        1. 5.4.3.1 Germany

        2. 5.4.3.2 United Kingdom

        3. 5.4.3.3 Italy

        4. 5.4.3.4 France

        5. 5.4.3.5 Rest of Europe

      4. 5.4.4 South America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Argentina

        3. 5.4.4.3 Rest of South America

      5. 5.4.5 Middle East & Africa

        1. 5.4.5.1 Saudi Arabia

        2. 5.4.5.2 South Africa

        3. 5.4.5.3 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 BASF SE

      2. 6.4.2 BioAmber Inc

      3. 6.4.3 Braskem

      4. 6.4.4 Cargill, Incorporated

      5. 6.4.5 Corbion

      6. 6.4.6 Dairen Chemical Corporation

      7. 6.4.7 DSM

      8. 6.4.8 GC Innovation America

      9. 6.4.9 Genomatica

      10. 6.4.10 GF Bio-chemicals

      11. 6.4.11 Metabolix, Inc.

      12. 6.4.12 Mitsubishi Chemical Corporation

      13. 6.4.13 NatureWorks LLC

      14. 6.4.14 Novozymes

      15. 6.4.15 Royal Cosun

    7. *List Not Exhaustive

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Shifting Focus Towards Eco-Friendly Products

    2. 7.2 Others

** Subject to Availability

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