Asia-Pacific Organic Acid Market

Asia-Pacific Organic Acid Market - Growth, Trends and Forecasts (2021 - 2026)

SR497715 | 26-Mar-2021 | 100 Pages | Mordor Intelligence |

Summary

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.

Key Market Trends

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.

Competitive Landscape

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.

Reasons to Purchase this report:

- The market estimate (ME) sheet in Excel format
- 3 months of analyst support

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