The U.S. Acids Market size is expected to reach USD 9.6 billion by 2028, according to a new report by Grand View Research, Inc. The market is estimated to reach a CAGR of 5.4% from 2021 to 2028. This growth is attributed to the rising product application scope in food and beverages. Growing utilization of the product in cattle feed to improve the milk production in the ruminants such as cow and sheep is another factor driving the market.
The market for inorganic acid is growing at a
significant rate due to the rising consumption of fertilizers and agrochemicals in
the agricultural industry. It is used in paper and pulp production for the
generation of carbon dioxide, pH adjustments, and tall oil splitting. It
is also used to make a protective layer over a metal workpiece such as silver,
aluminum, tin, steel, and cadmium.
Organic acids are used in the agricultural system to
improve soil, promote plant growth, and controls diseases. It is also used to
enhance decomposition, increase soil humus formation, and release plant
nutrients. In the personal care and cosmetic industry, it is used to adjust pH
concentrations in products and remove dead cells. It is used in acne and
anti-aging creams as it helps to reduce wrinkles, decrease blemishes, provide
an even skin tone and a smooth skin texture. Its demand for food and beverages
is expected to increase owing to its growing penetration in the meat, poultry,
and seafood industries. This is expected to boost product demand over the
forecast period.
The majority of the players operating in the
development and advancement of acids are highly competitive, with the majority
of the companies focusing on the development of new products with eco-friendly
characteristics and catering to a broader application market. These factors are
poised to reflect substantial growth of butyric, malic, and benzoic acids,
among others in the market space.
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U.S. Acids Market Report
Highlights
- The market is expected to witness significant revenue-based CAGR of
5.4% owing to rising product demand in several end-use industries such as
animal feed, food and beverage, pharmaceuticals, and personal care
- The organic acid segment dominated the industry in 2020 with a
revenue share of more than 70.0%, considering the high demand for citric,
acetic, formic, lactic, ascorbic, succinic, propionic, and fumaric acids
- Inorganic acids are widely used in the agriculture sector having a
percentage share of more than 39% in 2020 due to high demand in the
production of agricultural pesticides
- The strong presence of animal feed and feed additive manufacturing
companies, especially in developing economies is anticipated to positively
influence the demand for the market
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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