"Bio-Based Succinic Acid Market – Industry Trends and Forecast to 2027
Global Bio-Based Succinic Acid Market, By End-Use Industry (Industrial, Food Beverage, Paints Coatings, Pharmaceutical, Cosmetics and Others), Country (U.S., Canada, Mexico, Germany, Poland, Ireland, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Chile, Rest of South America, UAE, Saudi Arabia, Egypt, Kuwait, South Africa, Rest of Middle East and Africa) Industry Trends and Forecast to 2027
Global bio-based succinic acid market size was valued at USD 591.6 million in 2023 and is projected to reach USD 1001.38 million by 2031, with a CAGR of 6.8% during the forecast period of 2024 to 2031.
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**Segments**
- **Application**: The bio-based succinic acid market can be segmented based on its applications into four main categories: Industrial, Food Beverage, Pharmaceuticals, and others. The industrial segment includes uses in the production of biodegradable polymers, plasticizers, and resins. The food beverage segment involves applications in flavor enhancers, food additives, and beverage ingredients. In the pharmaceutical industry, bio-based succinic acid is utilized in the manufacturing of drugs, excipients, and medical devices. Other applications may include cosmetics, personal care products, and agricultural chemicals.
- **Source**: Another key segmentation parameter for the bio-based succinic acid market is its source of production. This can be divided into two primary categories: Microbial Fermentation and Chemical Synthesis. The microbial fermentation segment involves the bio-based production of succinic acid by microorganisms such as yeast, bacteria, and fungi. On the other hand, chemical synthesis refers to the traditional method of producing succinic acid through petrochemical processes.
- **End-Use Industry**: The market can also be segmented based on end-use industries that heavily rely on bio-based succinic acid. These industries include Chemicals, Plastics Polymers, Pharmaceuticals, Food Beverage, and Cosmetics. The chemicals industry utilizes bio-based succinic acid in the production of coatings, adhesives, solvents, and fibers. Plastics polymers segment includes the use of succinic acid in manufacturing biodegradable plastics. In the pharmaceutical sector, it is used in drug formulations and medical devices. The food beverage industry incorporates bio-based succinic acid in various product formulations, while the cosmetics industry uses it in personal care products.
**Market Players**
- **BioAmber Inc.**: A leading player in the bio-based succinic acid market, BioAmber Inc. focuses on producing sustainable chemicals for various industries. They have a strong presence in North America and Europe, offering high-quality bio-based succinic acid products.
- **Myriant Corporation**: Myriant Corporation is known for its innovative approach to bio-based succinic acid production. They have a diverse product portfolio catering to the needs of different end-use industries globally.
- **Reverdia**: Reverdia is a key market player that specializes in bio-based chemicals, including succinic acid. They emphasize sustainability and environmental responsibility in their production processes, making them a preferred choice for eco-conscious consumers.
- **Mitsubishi Chemical**: Mitsubishi Chemical is a multinational corporation with a significant presence in the bio-based succinic acid market. They offer a wide range of succinic acid products that meet the quality standards of various industries.
- **Roquette Frères**: Roquette Frères is a major player in the bio-based succinic acid market, known for its high-performance products and strong RD capabilities. They cater to a global customer base across different end-user industries.
https://www.databridgemarketresearch.com/reports/global-bio-based-succinic-acid-marketThe bio-based succinic acid market is poised for significant growth driven by increasing environmental concerns, the shift towards sustainable practices, and the rising demand for bio-based alternatives in various industries. One noteworthy trend shaping the market is the emphasis on applications in the production of biodegradable polymers, plasticizers, and resins in the industrial segment. This trend is driven by the need for eco-friendly materials that can reduce environmental impact and offer more sustainable solutions in industries such as packaging and automotive.
Moreover, the pharmaceutical sector's use of bio-based succinic acid in drug formulations and medical devices is expected to witness substantial growth, owing to the focus on developing sustainable healthcare products. The incorporation of succinic acid in drug delivery systems and formulations showcases its versatility and potential in enhancing the efficacy and safety of pharmaceutical products.
In terms of end-use industries, the chemicals sector stands out as a significant consumer of bio-based succinic acid, with applications in coatings, adhesives, solvents, and fibers. The demand for bio-based succinic acid in the production of biodegradable plastics within the plastics and polymers industry is also gaining traction, driven by regulatory pressures and consumer preferences for sustainable packaging solutions. This shift towards bio-based alternatives aligns with the global push towards a circular economy and reduced reliance on fossil fuels.
Market players such as BioAmber Inc., Myriant Corporation, Reverdia, Mitsubishi Chemical, and Roquette Frères are at the forefront of driving innovation and sustainability in the bio-based succinic acid market. These companies are investing in research and development to expand their product portfolios, enhance production efficiency, and meet the evolving needs of various end-user industries. Their focus on sustainability, quality, and technological advancements positions them as key players in a market that values eco-friendly solutions and environmentally responsible practices.
Looking ahead, the bio-based succinic acid market is expected to witness continued growth and innovation as more industries recognize the benefits of transitioning to bio-based alternatives. With regulatory support, increasing consumer awareness, and the competitive advantage of bio-based products, the market is poised for expansion across multiple applications and end-use industries. Collaboration between industry players, research institutions, and government entities will further drive advancements in bio-based succinic acid production, propelling the market towards a more sustainable and circular future.**Segments**
- **Global Bio-Based Succinic Acid Market, By End-Use Industry**:
- **Industrial**: The industrial segment of the bio-based succinic acid market is witnessing significant growth due to the demand for eco-friendly materials. Industries utilizing bio-based succinic acid in the production of biodegradable polymers, plasticizers, and resins are driving this segment's expansion.
- **Food Beverage**: In the food beverage sector, bio-based succinic acid finds applications in flavor enhancers, food additives, and beverage ingredients. The growing emphasis on natural ingredients and sustainable sourcing is fueling the adoption of bio-based succinic acid in this industry.
- **Pharmaceuticals**: Bio-based succinic acid plays a crucial role in drug formulations and medical devices within the pharmaceutical industry. The shift towards sustainable healthcare solutions is driving the pharmaceutical sector's increasing demand for bio-based succinic acid.
- **Others**: Apart from the major segments mentioned, bio-based succinic acid is also used in cosmetics, personal care products, and agricultural chemicals, expanding its reach across diverse industries.
**Market Analysis**
The bio-based succinic acid market is experiencing notable growth due to escalating environmental concerns and the transition towards sustainable practices. The trend of using bio-based succinic acid in the production of biodegradable polymers, plasticizers, and resins is gaining traction in the industrial segment, primarily in packaging and automotive applications. The pharmaceutical sector's adoption of bio-based succinic acid in drug formulations and medical devices is on the rise, emphasizing the need for sustainable healthcare solutions.
Additionally, the chemicals industry is a key consumer of bio-based succinic acid, with applications in coatings, adhesives, solvents, and fibers. The demand for bio-based succinic acid in biodegradable plastics production within the plastics polymers sector is increasing, driven by regulatory pressures and consumer preferences for sustainable packaging solutions.
Leading market players like BioAmber Inc., Myriant Corporation, Reverdia, Mitsubishi Chemical, and Roquette Frères are driving innovation and sustainability within the bio-based succinic acid market. These companies are investing in research and development to expand their product portfolios and enhance production efficiency to meet evolving industry needs. Their focus on sustainability and technological advancements positions them as key players in the market, catering to the demand for eco-friendly alternatives.
Looking ahead, the bio-based succinic acid market is poised for growth as industries recognize the benefits of transitioning to bio-based alternatives. With regulatory support, increasing consumer awareness, and the competitive advantage of bio-based products, the market is expected to expand across various applications and end-use industries. Collaborations between industry players, research institutions, and government entities will further drive advancements in bio-based succinic acid production, propelling the market towards a more sustainable and circular future.
Global Bio-Based Succinic Acid Market survey report analyses the general market conditions such as product price, profit, capacity, production, supply, demand, and market growth rate which supports businesses on deciding upon several strategies. Furthermore, big sample sizes have been utilized for the data collection in this business report which suits the necessities of small, medium as well as large size of businesses. The report explains the moves of top market players and brands that range from developments, products launches, acquisitions, mergers, joint ventures, trending innovation and business policies.
Highlights of TOC:
Chapter 1: Market overview
Chapter 2: Global Bio-Based Succinic Acid Market
Chapter 3: Regional analysis of the Global Bio-Based Succinic Acid Market industry
Chapter 4: Bio-Based Succinic Acid Market segmentation based on types and applications
Chapter 5: Revenue analysis based on types and applications
Chapter 6: Market share
Chapter 7: Competitive Landscape
Chapter 8: Drivers, Restraints, Challenges, and Opportunities
Chapter 9: Gross Margin and Price Analysis
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the Bio-Based Succinic Acid Market.
- Product Development/Innovation: Detailed insights on the upcoming technologies, RD activities, and product launches in the market.
- Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market.
- Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies.
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Bio-Based Succinic Acid Market.
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