Bio Succinic Acid Market size is forecast to reach $468 billion by 2025, after growing at a CAGR of 26.8% during 2020-2025. Succinic acid is used primarily as an acidity regulator in the food and beverage industry, which is likely to aid in the market growth of Bio Succinic acid. Governments regulations towards sustainable and environment-friendly products will further create hurdles for bio succinic acid market during the forecast period.
Asia-Pacific dominates the Bio Succinic acid market owing to increasing demand from applications related to food & Beverages industry.
Succinic Acid is also used as an intermediate to manufacture several chemicals, amongst which raw materials for the cosmetic and personal-care industry, e.g. emollients, surfactants and emulsifiers, is likely to aid in the market growth of Bio Succinic acid.
Governments regulations towards environment-friendly products will further boost the Bio Succinic acid market during the forecast period.
COVID 19 pandemic will create few hurdles for the Bio Succinic Acid market.
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Application – Segment Analysis
Food Additives holds the largest market share in the bio-succinic acid market. Succinic acid can be produced by fermentation as it is an intermediate of the tricarboxylic acid cycle (TCA, citrate cycle) and one of the end products of anaerobic metabolism. The fermentative succinic acid production is carried out both with wild-type strains and with genetically modified microorganisms. A variety of substrates, such as glucose (starch, cellulose, hydrolysates), sucrose (sugarcane, turnip), maltose (starch), lactose (whey), mannitol (starch), xylose (hemicellulose hydrolysates), and glycerol, are described as usable fermentation substrates. Bio-succinic acid also serves as a pH regulator and additive in the food industry.
Drivers – Bio Succinic acid Market
Cheap labor and low manufacturing cost
Implementation of Stringent Environment Regulations
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Bio Succinic acid market. Major players in the Bio Succinic acid Market are BioAmber, Myraint, DSM, Mitsui & Co, Mitsubishi, BASF, Roquette Frerse S.A, Purac and Reverdia., among others.
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