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Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand f.....
Bio-Based Organic Acids Market By Product, By Raw Material, By Application and Geography
Bio-Based Organic Acids Market By Product, By Raw Material, By Application and Geography
Bio-Based Organic Acids Market size was valued at 8.72 billion in 2022 and is expected to reach 12.69 billion by 2029 and is poised to grow at a significant CAGR of 5.5% from 2023 to 2029. Factors boosting the market growth are rising inclination of consumers towards bio-based products, strict regulations imposed on the usage of conventional organic acid producers in various countries and increasing demand across various end user sectors. However, high cost required in the production of these acids is hampering the growth of the market. This report studies global market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global bio-based organic acids market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product opportunities).
Study Period
2024-2030Base Year
2023CAGR
5.5%Largest Market
EuropeFastest Growing Market
Asia-Pacific
The demand for bio-based organic acids is growing owing to the impact of conventional organic acids on the environment. Bio-based products are based on renewable and expandable resources, thereby decreasing dependency on increasingly expensive and limited (finite) fossil and mineral resources, and having the potential of saving energy and reduce GHG emissions. Minimizing chemical waste and the release of toxic byproducts into the environment is one of the most important benefits of sustainable bio-based chemical products. In order to cater to this growing demand, more and more organic acid is being produced from renewable sources such as feedstock.
Asia Pacific accounted for larger revenue share in global bio-based organic acids market with considerable CAGR. XX. Asia Pacific is expected to witness steady growth in this market due to the increasing demand for this market from various industries such as petrochemicals, coatings, pharmaceuticals etc. in countries such as China, India and Thailand. Europe acquired considerable growth in this market and the growth of this region can be attributed to shifting focus of various industries towards the usage of environment-friendly products.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market CAGR |
5.5% |
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By Product Type |
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By Raw Material |
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By Application |
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The bio-based organic acids market is projected to expand at a CAGR of 5.5% during the forecast period.
Abengoa, BASF SE, BioAmber Inc, Cargill, Corbion NV
Asia-Pacific is the fastest-growing for bio-based organic acids market
Bio-Based Organic Acids Market size was valued at 8.72 billion in 2022 and is expected to reach 12.69 billion by 2029 and is poised to grow at a significant CAGR of 5.5% from 2023 to 2029.
Table of Content
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.