Bio-based Organic Acids Market Expected to Exceed $11.8 Billion by 2030, MarkWide Research Reports
According to a new report published by MarkWide Research, titled, “Bio-based Organic Acids Market,” the global market for bio-based organic acids is expected to exceed $11.8 billion by 2030, displaying a robust CAGR of 5.6% during the forecast period from 2023 to 2030.
Bio-based organic acids are eco-friendly alternatives to traditional petroleum-based organic acids, finding applications in various industries, including agriculture, food and beverage, and bioplastics. The market’s growth is driven by the increasing demand for sustainable and renewable chemical solutions.
Key findings from the report:
- Sustainability and Environmental Concerns: Growing awareness of environmental issues and sustainability drives the adoption of bio-based organic acids as greener alternatives.
- Bioplastics and Polymers: Bio-based organic acids serve as essential feedstocks in the production of biodegradable bioplastics and polymers.
- Agricultural Applications: The agriculture industry utilizes bio-based organic acids in crop protection, soil improvement, and livestock feed additives.
- Technological Advancements: Ongoing research and development efforts are enhancing the production processes and properties of bio-based organic acids.
- Global Shift Towards Green Chemistry: The global shift towards green and sustainable chemistry practices supports market growth.
- Market Competitors: Leading players in the bio-based organic acids market include Archer Daniels Midland Company, Myriant Corporation, and Tate & Lyle plc, who are at the forefront of sustainable chemical solutions.
The report anticipates significant growth in the global bio-based organic acids market as industries seek environmentally friendly alternatives to conventional chemicals. MarkWide Research’s comprehensive analysis provides insights into the market’s current landscape and future trends, empowering industry stakeholders to make informed decisions and capitalize on opportunities in the bio-based organic acids market.
MarkWide Research is a leading market research and consulting firm, providing in-depth analysis and strategic insights across various industries. With a team of experienced analysts, MarkWide Research is committed to delivering actionable intelligence, assisting clients in making informed business decisions and achieving sustainable growth.