U.S. Acids Market Business Strategy and Forecast 2028
U.S. Acids Industry Overview The U.S. acids market size is expected to reach USD 9.6 billion by 2028, according to a new report by Grand View Research, Inc. The market is estimated to reach a CAGR of 5.4% from 2021 to 2028. This growth is attributed to the rising product application scope in food and beverages. Growing utilization of the product in cattle feed to improve the milk production in the ruminants such as cow and sheep is another factor driving the market. U.S. Acids Market Segmentation Grand View Research has segmented the U.S. Acids market on the basis of type: Based on the Type Insights, the market is segmented into Organic and Inorganic. The organic type segment dominated the market and accounted for a revenue share of over 70.0% in 2020. This is attributed to the rising use of organic acids in animal feed as well as a substitute in several end-use industries. The demand for food and beverages is expected to increase due to its growing penetration in the...