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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.
Report Coverage
The report: “Bio Succinic Acid Market – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Bio Succinic Acid Industry.
By Application - Food additives, Detergents, Cosmetics, Pigments, Toners, Cement additives, Soldering fluxes, Coatings, solvents & lubricants, plasticizers.
By End User – Food & Beverages, Pharmaceutical, Cosmetics, Paints, Detergents, Chemicals, Others.
By Geography – North America, South America, Europe, APAC, RoW.
Key Takeaways
- 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.
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.
End User - Segment Analysis
Food & Beverages industry holds the largest market share in the Bio Succinic Market as, it works as a clean label flavor enhancer and food ingredient. As a flavor enhancer, succinic acid stimulates the appeal of healthy, reduced-sodium foods by increasing the perceived saltiness and prolonging flavor in both sweet and savory products. Bio amber Natural Succinic Acid also serves as an acidulant for improved shelf-life. Its preservative properties include growth inhibition of many strains of bacteria, mold, and yeast. Bio-based Disodium Succinate, a neutralized and spray-dried derivative of natural Succinic Acid, is an excellent flavor enhancer for dry seasoning mixes. Bio amber Bio-based Succinic Acid and Disodium Succinate are natural alternatives to petroleum-based food and flavor ingredients, enabling ‘natural flavors and ingredients’ labeling on many food and beverage products.
Geography - Segment Analysis
APAC dominated the bio succinic acid market with a share of more than x%, followed by North America and Europe. Countries such as India, China, among others are the major market in this region. Indo-Chinese foods are the most popular food in the APAC region because of its wide variety of foods such as (in main course) chilli chicken/ Prawn/Mutton/vegetables/paneer, dry or gravy. Whereas Indian Stalls i.e., at dhabas (roadside stalls), also popularly referred to as "Fast food", is the most frequent place for foods where an Indian middle class spends money. Similarly, in China the middle class is also spending a lot of money for eating fast foods. So, with the continuous growing market for fast foods in these major countries, the market demand for Bio Succinic Market is likely to grow automatically in the forecast period.
Drivers – Bio Succinic acid Market
- Cheap labor and low manufacturing cost
In the APAC region, India and China are the major countries in this region where labor and manufacturing cost is low and due to its low manufacturing cost, it is very easily available at a very low price. Purchase cost is usually the most important factor when manufacturing overseas, but so is quality, deliver times, and ease of doing business. The wages vary dependent on the type of manufacturing that India and China produce. Generally, India’s electrical power isn’t available 24 hours per day, which can significantly decrease productivity, efficiency, and therefore lower output rates. This is one of the major reasons why more manufacturing is done in china as compared to India.
- Implementation of Stringent Environment Regulations
Governments regulations towards environment-friendly products will further boost the Bio Succinic acid market during the forecast period as, these bio succinic acid are ecofriendly & majorly used in food and beverages industry. Bio succinic acid are majorly used in fast foods and different kind of beverages. Some of the succinic acid derivatives include tetrahydrofuran (THF), 1,4-butanediol (BDO), succindiamide, succinonitrile, dimethylsuccinate, N-methyl-pyrrolidone, 2-pyrrolidone, and 1,4-diaminobutane. Owing to the high increasing demand from food & beverages industry, bio succinic acid market will grow.
Challenges – Bio Succinic acid Market
- Impact of Covid 19
Food & Beverages industries is facing some of the key issues as a result of the Covid-19 coronavirus pandemic, including the effects caused by self-isolation rules, companies moving sources away from China and are reconsidering materials used in packaging and because of the pandemic situation in all over the world, the fast foods stall are completely closed due to which the Bio Succinic acid usage has come down very exponentially downwards. So, due to the COVID 19 pandemic, the Bio Succinic market is on a decline.
Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Bio Succinic acid market. In 2019, the market of Bio Succinic acid has been consolidated by the top five players accounting for xx% of the share. 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.
Acquisitions/Technology Launches
- In November 2016, Reverdia entered into a strategic partnership with Hangzhou Xinfu Science & Technology (China) to adopt Biosuccinium in bio-based polymers and co-polymers for the packaging industry and for long-term supply agreement.
- In October 2016, Reverdia signed an agreement with Dezhou Xinhuarun Technology (China) to develop and promote Biosuccinium-based microcellular polyurethane foams. The foams will be used in soles for footwear and other applications.
- In August 2016, Anhui Sunsing Chemicals invented another method of producing succinic acid and other chemicals using sucrose-containing feedstock. This invention was related to the production of chemicals by fermentation with a microorganism in which, the fermentation medium contains sugar sucrose.
1. Bio Succinic Acid Market- Market Overview
1.1 Definitions and Scope
2. Bio Succinic Acid Market - Executive Summary
2.1 Market Revenue, Market Size and Key Trends by Company
2.2 Key Trends by Application
2.3 Key Trends by End User
2.4 Key Trends by Geography
3. Bio Succinic Acid Market - Landscape
3.1 Comparative analysis
3.1.1 Market Share Analysis- Top Companies
3.1.2 Product Benchmarking- Top Companies
3.1.3 Top 5 Financials Analysis
3.1.4 Patent Analysis- Top Companies
3.1.5 Pricing Analysis
4. Bio Succinic Acid Market - Startup companies Scenario Premium (Premium)
4.1 Top startup company Analysis by
4.1.1 Investment
4.1.2 Revenue
4.1.3 Market Shares
4.1.4 Market Size and Application Analysis
4.1.5 Venture Capital and Funding Scenario
5. Bio Succinic Acid Market – Industry Market Entry Scenario Premium (Premium)
5.1 Regulatory Framework Overview
5.2 New Business and Ease of Doing business index
5.3 Case studies of successful ventures
5.4 Customer Analysis - Top companies
6. Bio Succinic Acid Market - Market Forces
6.1 Market Drivers
6.2 Market Constraints
6.3 Market Opportunities
6.4 Porters five force model
6.4.1 Bargaining power of suppliers
6.4.2 Bargaining powers of customers
6.4.3 Threat of new entrants
6.4.4 Rivalry among existing players
6.4.5 Threat of substitutes
7. Bio Succinic Acid Market -Strategic analysis
7.1 Value chain analysis
7.2 Opportunities analysis
7.3 Market life cycle
7.4 Suppliers and distributors Analysis
8. Bio Succinic Acid Market – By Application (Market Size -$Million, KT)
8.1 Food additives
8.2 Detergents
8.3 Cosmetics
8.4 Pigments
8.5 Toners
8.6 Cement additives
8.7 Soldering fluxes
8.8 Coatings
8.9 Solvents & lubricants
8.10 Plasticizers.
9. Bio Succinic Acid Market – By End User (Market Size -$Million, KT)
9.1 Food & Beverages
9.2 Pharmaceutical
9.3 Cosmetics
9.4 Paints
9.5 Detergents
9.6 Chemicals
9.7 Others
10. Bio Succinic Acid Market - By Geography (Market Size -$Million / KT)
10.1 North America
10.1.1 U.S.
10.1.2 Canada
10.1.3 Mexico
10.2 South America
10.2.1 Brazil
10.2.2 Argentina
10.2.3 Colombia
10.2.4 Chile
10.2.5 Rest of South America
10.3 Europe
10.3.1 U.K
10.3.2 Germany
10.3.3 Italy
10.3.4 France
10.3.5 Russia
10.3.6 Spain
10.3.7 Netherlands
10.3.8 Belgium
10.3.9 Rest of Europe
10.4 Asia Pacific
10.4.1 China
10.4.2 India
10.4.3 Japan
10.4.4 South Korea
10.4.5 Australia & New Zealand
10.4.6 Rest of Asia Pacific
10.5 RoW
10.5.1 Middle East
10.5.1.1 UAE
10.5.1.2 Saudi Arabia
10.5.1.3 Israel
10.5.1.4 Rest of Middle East
10.5.2 Africa
10.5.2.1 South Africa
10.5.2.2 Nigeria
10.5.2.3 Rest of Africa
11. Bio Succinic Acid Market - Entropy
11.1 New Product Launches
11.2 M&A’s, Collaborations, JVs and Partnerships
12. Market Share Analysis (Premium)
12.1 Market Share by Country- Top companies
12.2 Market Share by Region- Top companies
12.3 Market Share by type of Product / Product category- Top companies
12.4 Market Share at global level- Top companies
12.5 Best Practices for companies
13. Bio Succinic Acid Market - List of Key Companies by Country (Premium)
14. Bio Succinic Acid Market Company Analysis
14.1 Market Share, Company Revenue, Products, M&A, Developments
14.2 Company 1
14.3 Company 2
14.4 Company 3
14.5 Company 4
14.6 Company 5
14.7 Company 6
14.8 Company 7
14.9 Company 8
14.10 Company 9
14.11 Company 10 and more
"*Financials would be provided on a best efforts basis for private companies"
LIST OF TABLES
LIST OF FIGURES
1.US Bio Succinic Acid Market Revenue, 2019-2024 ($M)2.Canada Bio Succinic Acid Market Revenue, 2019-2024 ($M)
3.Mexico Bio Succinic Acid Market Revenue, 2019-2024 ($M)
4.Brazil Bio Succinic Acid Market Revenue, 2019-2024 ($M)
5.Argentina Bio Succinic Acid Market Revenue, 2019-2024 ($M)
6.Peru Bio Succinic Acid Market Revenue, 2019-2024 ($M)
7.Colombia Bio Succinic Acid Market Revenue, 2019-2024 ($M)
8.Chile Bio Succinic Acid Market Revenue, 2019-2024 ($M)
9.Rest of South America Bio Succinic Acid Market Revenue, 2019-2024 ($M)
10.UK Bio Succinic Acid Market Revenue, 2019-2024 ($M)
11.Germany Bio Succinic Acid Market Revenue, 2019-2024 ($M)
12.France Bio Succinic Acid Market Revenue, 2019-2024 ($M)
13.Italy Bio Succinic Acid Market Revenue, 2019-2024 ($M)
14.Spain Bio Succinic Acid Market Revenue, 2019-2024 ($M)
15.Rest of Europe Bio Succinic Acid Market Revenue, 2019-2024 ($M)
16.China Bio Succinic Acid Market Revenue, 2019-2024 ($M)
17.India Bio Succinic Acid Market Revenue, 2019-2024 ($M)
18.Japan Bio Succinic Acid Market Revenue, 2019-2024 ($M)
19.South Korea Bio Succinic Acid Market Revenue, 2019-2024 ($M)
20.South Africa Bio Succinic Acid Market Revenue, 2019-2024 ($M)
21.North America Bio Succinic Acid By Application
22.South America Bio Succinic Acid By Application
23.Europe Bio Succinic Acid By Application
24.APAC Bio Succinic Acid By Application
25.MENA Bio Succinic Acid By Application
26.Bioamber, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Myriant, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Dsm, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Mitsui Co. Ltd, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Mitsubishi Chemical, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Basf Sa, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Purac, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Roquette Freres S A, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.Reverdia, Sales /Revenue, 2015-2018 ($Mn/$Bn)