BASF SE (Germany) and Eastman Chemical Company (U.S.) are the Major Players in the Organic Acids Market
The key players profiled have a strong presence in the global organic acids market includes Cargill (U.S.), BASF SE (Germany), Dow Chemical Company (U.S.), Henan Jindan Lactic Acid Technology Co. Ltd (China), Archer Daniels Midland Company (U.S.), Eastman Chemical Company (U.S.), Corbion (Netherlands), and E.I. Du Pont De Nemours & Company (U.S.).
The key market players adopted various growth strategies such as expansion and new product launch in order to cater to the increasing demand for organic acids. The companies are increasing their research and development expenditure to expand their organic acid processing capacities and are manufacturing various products that contain organic acids that can be fortified in food, animal feed, and nutraceutical products.
The core strength of the key players in this market is their strategic expansion, to enhance their presence in the organic acids market. Companies such as BASF SE (Germany) and Archer Daniels Midland Company (U.S.) are expanding their production facilities as well as their R&D sector for developing new organic acid containing products. The key companies entered into joint venture and acquisitions to expand their presence geographically. Moreover, these companies also focused on offering a diverse range of organic acid products to cater to the changing requirements of consumers.
BASF SE (Germany) has been one of the major players in the global organic acids market. The company has been focusing on the expansion of its organic acid production plants. In 2015, BASF SE (Germany) opened a new facility in Geismar, Louisiana, U.S. for producing formic acid for customers in the North American and South American markets.
Eastman Chemical Company (U.S.) has strengthened its position in the organic acids market through acquisitions and investments. The company pursued acquisition as a strategy to strengthen its market position, and it invests substantially in the research & development of new products. In 2014, Premier Nutrition, part of AB Agri Ltd., a subsidiary of Eastman Chemical Company, acquired Roses Nutrition Limited (U.K.), specialized in providing high-quality nutrition expertise and premix solutions, predominantly to pig and layer home mix customers in Northern England and Southern Scotland.
Related Reports:
Organic Acids Market by Type (Acetic Acid, Citric Acid, Formic Acid, Lactic Acid, Propionic Acid, Ascorbic Acid, Gluconic Acid, Fumaric Acid), Application (Food & Beverages, Feed, Pharmaceuticals, and Industrial), and Region - Global Forecast to 2022
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