The market for bio-based acetic acid is expected to reach US$ 90.4 million by the end of 2033, growing at a CAGR of 5.3% from its estimated value of US$ 53.9 million in 2023. The bio-based acetic acid market refers to the market for acetic acid that is derived from renewable sources such as biomass, instead of traditional petrochemical sources. Acetic acid is a versatile chemical that finds applications in various end-use industries such as food and beverage, pharmaceuticals, textiles, and chemicals

The market for bio-based acetic acid is driven by several factors such as the increasing demand for eco-friendly and sustainable products, rising concerns regarding the depletion of non-renewable resources, and government initiatives promoting the use of renewable feedstocks. The demand for bio-based acetic acid is also influenced by the growth in end-use industries such as food and beverage and pharmaceuticals, where it is used as a preservative and solvent, respectively. Additionally, the advancements in technology, such as the development of advanced fermentation techniques and bioreactors, have enabled efficient and cost-effective production of bio-based acetic acid

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The market is also influenced by government regulations and policies related to environmental sustainability and the use of renewable resources. Governments around the world are implementing various initiatives to promote the use of renewable feedstocks and reduce the carbon footprint of manufacturing processes

Key Takeaways from Market Study

• Bio-based acetic acid usage in food products is forecast to register a CAGR of 5.9% and be valued at US$ 30 Mn by 2031-end.
• Textile industry end use is expected to hold 12.2% market value share by 2031-end, but is anticipated to lose 51 BPS in its market share by then.
• Chemical production is anticipated to capture 28.7% market value share by 2031-end, and is projected to gain 114 BPS.
• Acidity regulator function has the highest growth potential in the bio-based acetic acid market in terms of market acceptance. This function is expected to gain 251 BPS by 2031.
• Bio-based acetic acid usage in pharma products is projected to grow 1.5X in value during the forecast period, while usage in personal care products is projected to grow 1.4X.

Eminent Players Key Stratagems

The top 5-7 players control more than 1/3 of the global production of bio-based acetic acid, indicating that the market is highly concentrated. Companies are concentrating and investing in the development of cutting-edge production techniques because they cost less and allow manufacturers to provide a competitive price to their customers or industries. This is because the cost of production is a significant challenge.

Key Companies Profiled

• Afyren
• BTG Bioliquids
• Godavari Biorefineries Ltd.
• Lenzing AG
• SEKAB
• Wacker Chemie AG
• Zeachem