Pelargonic acid, also known as nonanoic acid, is a naturally occurring organic acid found in rancid fatty oils and fats. It is used as a natural biopesticide for controlling fungal and bacterial diseases in various crops. As an eco-friendly alternative to synthetic pesticides, pelargonic acid effectively prevents and treats various plant diseases while being non-toxic to humans and other mammals.
The global Pelargonic Acid Market is estimated to be valued at US$ 196.34 million in 2023 and is expected to exhibit a CAGR of 3.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growing demand for natural and organic foods is a major driver boosting the demand for natural biopesticides like pelargonic acid. Consumers are increasingly health conscious and prefer food items grown without the use of chemical pesticides. They are willing to pay premium prices for organic food. As a result, farmers are shifting from synthetic to natural plant protection methods. This is expected to significantly support the growth of the Global pelargonic acid market size during the forecast period.
SWOT Analysis
Strength: Pelargonic acid has natural preservative properties and is considered non-toxic or low toxicity, making it suitable for cosmetic and food applications. It can effectively prevent microbial growth and enhance shelf life.
Weakness: The availability of substitutes like propionic acid and benzoic acid which have similar preservative functionality can hamper the demand for pelargonic acid. Higher production and processing costs compared to alternatives is another weakness.
Opportunity: Growing application of pelargonic acid as an antimicrobial preservative in personal care products, home care products, food and beverages offers significant opportunities for market expansion. Increasing demand for natural preservatives without harsh chemicals also opens up opportunities.
Threats: Stringent regulatory norms pertaining to the use of chemical preservatives in food items pose threats. Environmental regulations associated with discharges from manufacturing plants also act as threats.
Key Takeaways
The global pelargonic acid market is expected to witness high growth over the forecast period of 2023 to 2030. The global Pelargonic Acid Market is estimated to be valued at US$ 196.34 million in 2023 and is expected to exhibit a CAGR of 3.3% over the forecast period 2023 to 2030.
Regional analysis: North America dominates the global pelargonic acid market currently due to robust demand from food and personal care sectors in the region. Asia Pacific is anticipated to witness the fastest growth in the pelargonic acid market ascribed to rising incomes, expanding middle class population and growing health awareness in the region.
Key players: Key players operating in the pelargonic acid market are Matrii Discoveries Ltd., Omega Ingredients Ltd., Emery Oleochemicals LLC. and Wilmar Oleochemicals. These players are focusing on commercialization of newer applications of pelargonic acid and expanding their production capacities.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it