Acetic acid, also known as ethanoic acid is a colorless liquid organic compound widely used as a food additive and preservative. It is known for its strong, characteristic pungent smell and sour taste. Acetic acid also finds applications as a chemical intermediate for production of certain polymers and other chemical compounds. Its increasing usage in food & beverages such as flavoring agent, food preservative, solvent and acidity regulator has escalated the demand for acetic acid. The global acetic acid market is estimated to be valued at US$ 14.63 Bn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:
The growing demand for packaged and processed food worldwide owing to changing lifestyles and rapid urbanization has boosted the consumption of acetic acid in the food industry. Acetic acid is an important ingredient in pickle production which acts as a preservative and provides the characteristic vinegar flavor. With rising health awareness regarding preservatives, acetic acid enjoys advantages over chemical preservatives as it occurs naturally. The food industry is expected to remain a key end-use segment driving the acetic acid market during the forecast period.

Porter's Analysis
Threat of new entrants: The acetic acid industry requires high capital investments and established distribution channels limiting the threat of new entrants.

Bargaining power of buyers: The acetic acid market has numerous global buyers however individual buyers have low bargaining power due to the availability of substitutes.

Bargaining power of suppliers: Major raw material suppliers like fossil fuel and bio-based feedstock providers have significant influence over prices.

Threat of new substitutes: Substitutes like lactic acid and glycolic acid pose potential threats.

Competitive rivalry: The industry has large global players with regional presence intensifying competition.

SWOT Analysis
Strength: Wide applications in vinyl acetate monomer production, solvents, and food additives generate high and growing demand.

Weakness: Volatile raw material prices and stringent environmental regulations increase production costs.

Opportunity: Rising demand for biodegradable and eco-friendly products supports the growth of bio-based acetic acid.

Threats: Health hazards associated with exposure limit its use in some end-use industries.

Key Takeaways

The global Acetic Acid Market Share  is expected to witness high growth supported by expanding end-use industries. The Asia Pacific region dominates the market with majority consumption in China assisted by a well-established chemical industry.

Regional analysis: Asia Pacific region is projected to continue dominating the global acetic acid consumption led by China, India, Japan, and other developing nations. Growing population, rising economies, and rapid industrialization drives the regional market.

Key players operating in the acetic acid market are Biogen, CYTOKINETICS, F. Hoffmann-La Roche Ltd, Genentech, Inc., PTC Therapeutics, Inc., Novartis AG, Ionis Pharmaceuticals, Chugai Pharmaceutical Co., Ltd., NMD PHARMA A/S, and Astellas Pharma Inc.

For more insights, read- https://www.newsstatix.com/acetic-acid-market-trends-size-and-share-analysis/

For more details on the report, Read- https://www.shayaricenter.com/intoxicating-elixirs-and-cultural-spirits-navigating-indias-rich-tapestry-of-alcohol