North America Organic Acid Market to Cross $3 bn by 2026

Growing demand from healthcare and petrochemical industries coupled with stringent government regulations regarding the usage of synthetic acids and chemicals to aid North America organic acid market through 2026. The market is anticipated to cross $3 billion by 2026, according to a report by TechSci Research.

Growth in the market is anticipated on account of growing demand from healthcare and personal care industries. As per the United States Bureau of Labour Statistics, the personal care and home healthcare market is expected to cumulatively account for $13 billion by 2020, owing to high consumer expenditure and ageing population. Moreover, the imposition of strict government regulations on the usage of synthetic acids and chemicals in pharmaceutical industry coupled with increasing human health concerns is forecast to aid North America organic acid market.

In North America, the US was the largest consumer of organic acids in 2016 on account of strong presence of industrial setups in the nation. In 2015, energy drinks worth $9.89 billion were consumed by the US citizens, and the demand for the same is further expected to increase at a healthy pace during the forecast period as well.

Thus, with an increase in demand for power drinks, the US organic acid market is expected to grow at a robust pace in the coming years, consequently aiding the region’s organic acid market.

“Acetic acid dominated North America organic acids market during 2012 – 2016, and the segment is expected to maintain its dominance through 2026 as well owing to increasing investments in chemical and petrochemical projects due to recent boom in shale gas and oil in North American countries,” said Karan Chechi, Research director with TechSci Research, a research based global management consulting firm.

“North America organic acid market by type, by end use, by country, competition forecast and opportunities, 2012 – 2026” has evaluated the future growth potential of North America organic acid market and provides statistics and information on market structure and trends.

The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyses emerging trends along with essential drivers, challenges and opportunities available in North America organic acid market.