Peracetic Acid Market Size

Peracetic Acid Market Size

Peracetic Acid Market size was around USD 795 million in 2020 and will grow at a CAGR of 9.1% from 2021 to 2027. Total market consumption will grow by 8.6% CAGR in terms of volume to reach 825.8 Kilo Tons by 2027. Rising product demand from the food & beverage, pulp & paper bleaching, medical, and agriculture industries has been a key factor propelling the overall industry growth across various regions.

Peracetic acid is an organic compound commonly used as a versatile antimicrobial and antioxidant agent. It is also used as an effective bactericide and fungicide, especially in food processing applications. Peracetic acid is produced by the auto-oxidation of acetaldehyde and is usually available as a colorless liquid with a pungent odor. It is an unchlorinated by-product and has non-corrosive & non-foaming reactions, followed by a wide temperature range and higher oxidation potential.
 

Rapid population growth and changing lifestyles & eating habits of consumers are believed to be driving the product demand in the processed food industry, especially in developing countries such as India, Brazil, and China, among others. Business working hours and the growing female labor force are driving the demand for packaged foods globally.

Peracetic acid is driven by its applications in the food industry as an antimicrobial agent to preserve food for later consumption. The use of an antimicrobial agent is very essential to achieve the best possible result in food storage. The product has been recognized by the U.S. Food and Drug Administration (FDA) as a safe chemical for the protection of food.
 

Peracetic acid prevents and controls microbial growth in soil and on plants due to which it is widely used in agriculture. The increasing acceptance of the product in efficient water treatment solutions coupled with the increasing demand for drinking water around the world is fueling the peracetic acid market growth. A higher concentration of peracetic acid can cause respiratory & other symptoms and these factors can slow the business growth over the projected timeframe.