Europe Organic Acid Market to Grow with a CAGR of 3.56% through 2028
Surge in research and development activities is expected to drive the Europe
Organic Acid Market growth in the forecast period, 2024-2028.
According to TechSci Research report, “Europe
Organic Acid Market– By Region, Competition, Forecast and Opportunities,
2018-2028F”, the Europe Organic Acid Market stood at USD866.25 million in
2022 and is anticipated to grow with a CAGR of 3.56% in the forecast period,
2023-2028. The initiatives taken by government based on organic acid has led to
favorable market conditions for the Europe Organic Acid Market. Several factors
contribute to the growth of various organic acid market products.
The European
Commission's Organic Action Plan is a comprehensive and strategic initiative
aimed at boosting the development and demand for organic farming across the
European Union. This ambitious plan seeks to drive investment and innovation in
organic farming practices, including sustainable crop production, animal
welfare, and biodiversity conservation. By supporting organic farmers and
encouraging the transition to organic agriculture, the plan aims to increase
the availability and affordability of organic products, promoting a more
sustainable and environmentally-friendly food system.
As a key
component of the European Green Deal, the EU's Farm to Fork Strategy represents
a holistic approach to transforming the entire food system in Europe. This
strategy focuses on making food systems fair, healthy, and
environmentally-friendly through various measures and actions. One of the core
principles of the strategy is promoting the use of organic and natural
additives, such as organic acids, in the food industry. These additives not
only enhance the safety and quality of food products but also contribute to
reducing the overall environmental impact of the food production process. By
prioritizing the adoption of organic and natural additives, the Farm to Fork
Strategy aims to ensure a more sustainable and resilient food supply chain
while safeguarding consumer health and well-being.
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market data Figures spread through XX Pages and an in-depth TOC on "Europe Organic Acid Market.”
Research and
development (R&D) efforts play a pivotal role in driving the progress of
every industry, including the organic acid market. These dedicated endeavors in
the realm of technology and innovation are bringing about remarkable
transformations in conventional production methods. As a result, specialized
grades of organic acids are being created, surpassing previous benchmarks in
terms of quality and performance. These groundbreaking developments not only
enhance operational efficiency and promote sustainability but also pave the way
for the production of organic acids from renewable sources, thus significantly
reducing the industry's environmental footprint. With each new discovery and
advancement, the organic acid market continues to evolve, offering endless
possibilities for a greener and more sustainable future.
The Europe
Organic Acid Market is segmented into type, end user, regional distribution,
and company.
Based on its type, the acetic acid segment held the
largest share in the market. The demand for acetic acid is witnessing a
significant increase, especially from the food and beverage as well as the
pharmaceutical industries. In the food and beverage sector, the rising health
consciousness among consumers is fueling the demand for preserved and flavored
foods, consequently driving the need for acetic acid.
Additionally, in the pharmaceutical industry, the
continuous research and development efforts are uncovering new and innovative
applications for acetic acid, further contributing to its growing demand. As a
versatile chemical compound, acetic acid continues to play a crucial role in
various sectors, offering a wide range of benefits and possibilities.
Based on region, Germany segment is expected to grow
during the forecast period.
The country's stringent regulations over conventional
additives are driving the Bio-organic Acid Market to new heights. These
regulations, aimed at promoting sustainable practices and reducing
environmental impact, have created a favorable environment for the growth of
the organic acid sector. As consumers become more conscious of the potential
health and environmental risks associated with conventional additives, the
demand for bio-organic acids continues to surge. This shift towards bio-organic
acids not only ensures safer and more sustainable products but also opens up
new opportunities for innovation and market expansion.
Major companies operating in Europe Organic Acid
Market are:
- Jungbunzlauer Suisse AG
- BP Plc
- Tate and Lyle Plc
- BASF SE
- Corbion N.V.
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“Growing application of organic acid in various end
user industries are key drivers of the organic acid market. Growth in
competitive landscape and presence of well-established companies in the market
who are dedicated to enhance their productivity of organic acid with every
passing year are anticipated to register an impressive growth to Europe Organic
Acid Market in the forecast period.,” said Mr. Karan Chechi, Research Director
with TechSci Research, a research-based management consulting firm.
“Organic Acid Market By Type (Acetic Acid,
Citric Acid, Formic Acid, Lactic Acid, Others), By End User (Industrial, Food
& Beverage, Pharmaceutical, Personal Care, Others), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated
the future growth potential of Europe Organic Acid Market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Europe Organic Acid Market.
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