The global bio-succinic acid market is anticipated was around $277 million in 2019 and is expected to grow at a lucrative CAGR during the forecast period. As succinic acid is used as a flavoring agent in enhancing flavors in food and beverages, therefore, growing food and beverage industry is propelling the growth of the succinic acid market. For instance, UK is one of the largest food and beverages manufacturers in Europe where the following sector contributed around $33.5 billion to the domestic economy. The total turnover of the food and beverages industry was more than $125 billion.
Browse the full report description of "Global Succinic Acid Market Size, Share & Trends Analysis Report by End User (Chemical, Pharmaceutical, Food and Beverages, Other), By Raw Material (Corn-Based Bio-Succinic Acid, Sugarcane-Based Bio-Succinic Acid, Cassava-Based Bio-Succinic Acid, Other Raw Materials-Based Bio-Succinic Acid), Forecast Period 2021-2027" at https://www.omrglobal.com/industry-reports/bio-succinic-acid-market
Further, bio-succinic acid has substantial application in the pharmaceutical industry. In the pharmaceutical sector, succinic acid is used as a raw material in ferrous succinate used to treating and preventing iron deficiency and anemia. According to World Health Organisation, around one-third of all the women across the globe of reproductive age are anemic whereas 40.0% of pregnant women are anemic. Moreover, around 40.0% of children are under 5 years of age are anemic. As succinic acid is a sustainable product, the government is promoting such green products that are more sustainable and eco-friendlier not damaging the environment which will also attribute to the market growth during the forecast period.
Market Coverage
o By End-User
o By Raw Material
o North America
o Europe
o Asia-Pacific
o Rest of the World
Key questions addressed by the report
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
Global Succinic Acid Market Report Segment
By End-User
By Raw Material
Global Succinic Acid Market Report Segment by Region
North America
Europe
Asia-Pacific
Rest of the World
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