Global Peracetic Acid Market for Food and Beverages: Overview
In last couple of years the global peracetic acid market has witnessed a significant jump due to its oxidising and disinfectant properties. It is used widely in paper and pulp bleaching industry due to its strong oxidising properties. It also acts as an anti-microbial agent that makes it asset in household care, medical, and water treatment industries. A mildly concentrated peracetic acid mixture is used as a disinfectant and as a sanitizing agent as well in various end-user industries. This acid is also used as a valuable biocide in agricultural and horticultural industries. Food and beverages is estimated to emerge as the fastest growing segment of the global peracetic acid market in the coming years.
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Rise in population along with increasing demand for food and beverages as poultry, frozen meat, and aerated and non-aerated drinks are anticipated to act as the driving forces for peracetic acid market worldwide. Besides, increasing concerns regarding clean drinking water, and hygiene, as the regions have become more vulnerable to microbial infection in frozen food is estimated to increase the demand for peracetic acid in the market. Among all the regions, North America stands as the largest regional market with major section of shares. The global market for peracetic acid is anticipated to rise at CAGR of 7.3% by 2020. The global valuation of the market is estimated of US$652.9 mn by 2020.
Water Treatment and Food and beverages Industry to Boost the Growth of Peracetic acid in the Market
The worldwide peracetic acid market is divided on the basis of end-user analysis which comprise of food and beverages, pulp and paper bleaching, water treatment, medical, agriculture, households, and others. Rise in demand for peracetic acid worldwide in the fast paced end-user segments such as water treatment, and food and beverages is likely to be a leading cause behind its growth in the market in the coming years. The fluctuation in the cost of raw materials along with the harmful effects of peracetic acid when exposed is estimated to pull down the market growth during the predicted period. Nevertheless, peracetic acid is manufactured on a large scale as mass production to reduce the prices is likely to present significant opportunities in the market for peracetic acid in next six years.
North America to Rule Global Peracetic Acid Market with Major Percentage of Shares
The global peracetic acid market is broadly divided on the basis of regions such as Europe, North America, Asia Pacific, and Rest of the World. Rise in demand for peracetic acid in food and beverages and water industries is expected to boost the peracetic acid market in North American region in coming time. Asia Pacific is estimated to be one of the fastest growing regions during the predicted period. Increase in the demand for peracetic acid in the developing economies in Asia such as India and China is anticipated to act as a catalyst for the growth of peracetic acid in the market of Asia Pacific region. In Europe and North America the demand is expected to rise because for the constant economic recovery in the U.S. and in developed counties of Europe. The peracetic acid market is likely to grow in the rest of the world with a high-pace in coming years, which will result in the increase in demand in the areas such as Middle East and Latin America.
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The leading players in global peracetic acid market are Mitsubishi Gas Chemical Company, Inc., Evonik Industries, Diversey, Inc., Solvay S.A., PeroxyChem LLC, Kemira Oyj, Thai Peroxide Limited and Ecolab Inc.