The global bio-succinic acid market is anticipated was around $277 million in 2019 and is expected to grow at a lucrative CAGR during the forecast period. As succinic acid is used as a flavoring agent in enhancing flavors in food and beverages, therefore, growing food and beverage industry is propelling the growth of the succinic acid market. For instance, UK is one of the largest food and beverages manufacturers in Europe where the following sector contributed around $33.5 billion to the domestic economy. The total turnover of the food and beverages industry was more than $125 billion.
Further, bio-succinic acid has substantial application in the pharmaceutical industry. In the pharmaceutical sector, succinic acid is used as a raw material in ferrous succinate used to treating and preventing iron deficiency and anemia. According to World Health Organisation, around one-third of all the women across the globe of reproductive age are anemic whereas 40.0% of pregnant women are anemic. Moreover, around 40.0% of children are under 5 years of age are anemic. As succinic acid is a sustainable product, the government is promoting such green products that are more sustainable and eco-friendlier not damaging the environment which will also attribute to the market growth during the forecast period.
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Market Coverage
- The market number available for – 2021-2029
- Base year- 2021
- Forecast period- 2023-2029
Segment Covered-
- By End-User
- By Raw Material
Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape- BASF SE, Kawasaki Kasei Chemicals, Succinity GmbH, Roquette Freres S.A. and S.S. Pharmachem
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Succinic Acid Market Report Segment
By End-User
- Chemical
- Pharmaceutical End user s
- Food and Beverages
- Another End-User
By Raw Material
- Corn-Based Bio-Succinic Acid
- Sugarcane-Based Bio-Succinic Acid
- Cassava-Based Bio-Succinic Acid
- Other Raw Materials-Based Bio-Succinic Acid
A full Report of Succinic Acid Market is Available @ https://www.omrglobal.com/industry-reports/bio-succinic-acid-market
Succinic Acid Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
Company Profiles
- Anhui Sunsing Chemicals Co., Ltd.
- Anqing Hexing Chemical Co., Ltd.
- AzelisSA
- Corbion N.V.
- ESIM Chemicals GmbH
- MOLBASE (Shanghai) Biotechnology Co., Ltd
- Evonik Industries AG
- GC Innovation America Corp.
- Jin Hui Zhao Long High-Tech Co., Ltd.
- MerckKGaA
- Mitsubishi Chemical Corp.
- NatureWorks LLC
- PTT-MCCBiochem Co. Ltd.
- O.F.
- Shandong Landian Biological Technology Co., LTD.
- Showa Denko K.K.
- Succinity GmbH
- Thyssenkrupp AG
Reasons to buy from us –
- We cover more than 15 major industries, further segmented into more than 90 sectors.
- More than 120 countries are for analysis.
- Over 100+ paid data sources mined for investigation.
- Our expert research analysts answer all your questions before and after purchasing your report.
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