The global Bio Succinic Acid Market size was USD 121.44 Billion in 2022 and is expected to reach USD 286.35 Billion in 2032, and register a revenue CAGR of 10% during the forecast period. Rising demand for bio-based chemicals due to increased environmental concerns, increasing crude oil prices, and the depletion of fossil fuel reserves, are major factors driving market revenue growth. Adoption of bio succinic acid in a variety of industries, including food and beverage, pharmaceuticals, and Cosmetics, is being driven by the ability of bio-based chemicals to minimize carbon footprint and lower greenhouse gas emissions.
Demand for bio succinic acid is driven by the food and beverage industry Due to its natural and non-toxic qualities. Revenue growth of the market is driven by use of acid in food goods as a preservative and flavoring agent. The need for bio succinic acid is also being driven by rising popularity of products for personal care and cosmetics made from plants. The acid is utilized as a primary ingredient in the creation of fragrances, Skin Care Products, and other cosmetics and personal care items.
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Top Leading Players:
- Myriant Corporation
- BASF SE
- Mitsubishi Chemical Corporation
- Reverdia
- Purac Biochem BV
- Anqing Hexing Chemical Co., Ltd.
- Merck KGaA
- ThyssenKrupp AG
- BioAmber Inc.
- Roquette Frères S.A.
Bio-Succinic Acid Growth:
Bio-succinic acid is a type of organic acid that can be produced by microbial fermentation. It is used in a wide range of applications, including the production of biodegradable plastics, solvents, food additives, and personal care products. The market for bio-succinic acid is expected to grow significantly in the coming years, driven by increasing demand for sustainable and environmentally friendly products.
The growth of bio-succinic acid production is largely dependent on the development of efficient and cost-effective fermentation processes. In recent years, there has been significant progress in the development of microbial strains and fermentation technologies for the production of bio-succinic acid.
Key Regional Markets Covered in the Report:
North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
Segments covered in the report:
By Type Outlook:
- Pure
- Blended
By Application Outlook:
- Polyester Polyols
- Plasticizers
- PBS/PBST
- Solvents & Coatings
- Food & Beverage
- Pharmaceuticals
- Others
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