Global Bio-Organic acid Market - Segmented by Raw Material Type, Product Type, Application, and Geography - Growth, Trends, and Forecast (2018 - 2023)

The market for bio-organic acid is expected to register significant growth during the forecast period, 2018 to 2023.This tremendous growth is significantly driven by increase in the number of stringent regulations over conventional organic acids.

Stringent Regulations over Conventional Organic Acids

The market for bio-organics acids is majorly driven by the stringent environmental regulations imposed by regulatory bodies of various countries on conventional organic acid producers. Organic acids can serve as platform chemicals for the production of polymers, food, coatings, lubricating oils, pharmaceuticals, cosmetics, solvents, and other materials. Currently, bio-organic acids are gaining significance as a replacement for conventional organic acids, owing to their renewability and eco-friendly nature, which is a key to the increasing market share of bio-organic acid to in the global bio-organic acid market over the forecast period.

Bio-lactic Acid Segment to Dominate the Market Growth

Among the product types, bio-lactic acid has the highest growth rate in the global bio-organic acid market. Lactic acid is majorly used to produce Poly Lactic Acid (PLA), which has significant demand from various end-user industries, like packaging, healthcare, and textiles. Bio-lactic acid is also being extensively used to produce the polymer PLA, which is the preferred plastic for 3D printing. The immensely growing PLA market is further helpful to fuel the market growth for bio-lactic acid, which, in turn, drives the demand for bio-organic acid, globally, in the near future.

Asia-Pacific to Ignite 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 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.

Key Developments in the Market

August 2017: The discovery of the Monascus ruber micro-organism proved to be the crucial step in producing organic acids in large-scale industrial fermentation processes.
August 2017: BioAmber bought the bio-based acid plant, which is located in Sarnia in Canada, as part of a joint venture with Mitsui.

Major Players: BASF Corporation, Myriant Corporation, BioAmber Inc., Koninklijke DSM N.V., and Braskem, amongst others.

Reasons to Purchase the Report

Identify the current and future trends of the global bio-organic acid market in the developed and emerging markets
Analyze various perspectives of the market with the help of Porter’s five forces analysis
Information of the segment that is expected to dominate the market
Identify the region that is expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in excel)

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