Succinic Acid Market Size & Share, By Type (Petro-based, Bio-based), End Use (Food & Beverages, Pharmaceuticals, Industrial) - Growth Trends, Regional Insights (U.S., Japan, South Korea, UK, Germany), Competitive Positioning, Global Forecast Report 2025-2034

Market Outlook:

Succinic Acid Market size is predicted to reach USD 710.06 million by 2034, up from USD 286.52 million in 2024, reflecting a CAGR of over 9.5% during the forecast period from 2025 to 2034. The industry revenue for 2025 is projected to be USD 311.53 million.

• Base Year Value (2024): USD 286.52 million
• CAGR (2025-2034): 9.5%
• Forecast Year Value (2034): USD 710.06 million
• Historical Data Period: 2021-2034
• Largest Region: Asia Pacific
• Forecast Period: 2025-2034

Market Dynamics:

Growth Drivers & Opportunities

The succinic acid market is witnessing significant growth driven by the increasing demand for bio-based chemicals across various industries. As environmental awareness rises, manufacturers are shifting from traditional petroleum-based products to renewable and sustainable alternatives. Succinic acid, being a versatile building block, serves in the production of biodegradable plastics, food additives, and pharmaceuticals, thereby positioning itself as a key compound in the green chemistry movement.

Additionally, the rising demand for animal feed and additives is propelling the market. Succinic acid's role in enhancing the nutritional content of animal feed and promoting growth in livestock is becoming increasingly recognized. The food and beverage industry is also exploring its applications as a flavoring agent and pH regulator, which further boosts the market demand.

The development of innovative production technologies is another exciting opportunity in the succinic acid market. Biotechnological advancements, particularly fermentation processes, are improving the efficiency and cost-effectiveness of succinic acid production. This trend not only enhances yield but also aligns with global sustainability goals, encouraging businesses to invest in green production methods.

Industry Restraints

Despite the promising growth trajectory, the succinic acid market faces several challenges that could hinder its expansion. The reliance on raw materials derived from renewable sources poses a significant limitation. Fluctuating agricultural output and competition for these raw materials can lead to volatility in production costs, affecting market stability.

Moreover, the existing market is dominated by established players, creating high entry barriers for new entrants. This concentration can stifle innovation and limit competition, which may ultimately impact pricing and availability for customers. Additionally, the slow adoption rate of succinic acid in certain industrial applications reflects a general resistance to change from conventional substances, further restraining market growth.

Regulatory hurdles also present challenges within the succinic acid industry. Manufacturers must navigate a complex web of regulations regarding the production and use of bio-based chemicals. Compliance with these regulations can increase operational costs and affect the speed of market entry for new products. As businesses seek to expand their offerings, these constraints could limit their ability to innovate and effectively respond to market demands.

Regional Forecast:

North America

In North America, the succinic acid market is predominantly driven by the United States and Canada. The U.S. stands out as the largest market in the region due to its well-established chemical manufacturing sector and significant investment in bio-based chemicals. The increasing demand for succinic acid across various applications, including pharmaceuticals, biodegradable plastics, and food additives, bolsters the market's growth trajectory. Canada, while smaller in size compared to the U.S., is also witnessing steady growth, supported by initiatives promoting sustainable and bio-based material usage, which aligns with the environmental goals of many industries.

Asia Pacific

Asia Pacific, particularly China and Japan, is anticipated to be a key growth region for the succinic acid market. China's rapid industrialization and urbanization contribute significantly to the increasing demand for succinic acid in industrial applications and products such as coatings and solvents. Additionally, the country's push towards renewable resources enhances the market for bio-based succinic acid. Japan, known for its advanced technology and innovative practices, also shows promising potential as industries increasingly adopt succinic acid in specialty chemicals and pharmaceuticals. South Korea is emerging as a notable player, driven by its focus on sustainability and bioeconomy, which is expected to propel the market further.

Europe

In Europe, Germany, the United Kingdom, and France are the leading countries in the succinic acid market. Germany is recognized for its strong chemical industry infrastructure and commitment to sustainability, making it a frontrunner in adopting bio-based chemicals. The UK follows closely, with a growing emphasis on reducing carbon footprints among industries, which facilitates the demand for succinic acid as a greener alternative. France is also experiencing growth, supported by regulations favoring eco-friendly products and a robust focus on innovation in the chemical sector. Overall, the European market is characterized by a strong regulatory framework that promotes the use of sustainable and bio-based chemicals, further boosting the succinic acid market.

Segmentation Analysis:

In terms of segmentation, the global Succinic Acid market is analyzed on the basis of Type, End Use.

Type Segment

The Succinic Acid Market is primarily segmented by type into various categories, such as Bio-based Succinic Acid and Petrochemical-based Succinic Acid. Among these, bio-based succinic acid is anticipated to show substantial growth due to increasing environmental concerns and a shift toward sustainable and renewable resources. This type is produced from renewable raw materials, making it a favored choice for manufacturers aiming to enhance their sustainability profile. The petrochemical-based segment, while currently holding significant market share, is expected to face challenges due to fluctuating oil prices and stricter environmental regulations. The trend toward green chemistry and the increasing availability of bio-based raw materials are expected to drive the demand for bio-based succinic acid in the coming years.

End Use Segment

In terms of end-use applications, the Succinic Acid Market includes segments such as Food and Beverage, Plasticizers, Pharmaceuticals, Agriculture, and Industrial Applications. The plasticizers segment is likely to command a large market size, driven by rising demand in the construction and automotive industries. Succinic acid is used to produce high-performance plasticizers that improve the flexibility and durability of polymers. The food and beverage segment is also expected to showcase growth, as succinic acid serves as a food additive and preservative. The pharmaceuticals segment, while smaller, is poised for rapid expansion due to increasing applications in drug formulation and the development of innovative therapeutic solutions. Agriculture is another promising end-use segment, where succinic acid is recognized for its potential to enhance plant growth and increase crop yields, making it an attractive option for sustainable agricultural practices.

Market Size and Growth Trajectories

Overall, the segments of bio-based succinic acid and plasticizers in the end-use market are predicted to emerge as frontrunners in both market size and growth rate. The increasing demand for sustainable materials and the necessity to comply with environmental regulations are contributing factors to this anticipated growth. Among the various applications, the biodegradable nature of bio-based succinic acid allows for opportunities across multiple industries, further underscoring its position as a key player in the market landscape. As industries continue to shift toward eco-friendly solutions, the bio-based types are expected to take center stage, reflecting broader market trends favoring sustainability and innovation.

Competitive Landscape:

The competitive landscape of the Succinic Acid Market is characterized by a mix of established chemical manufacturers and emerging bio-based innovators focusing on sustainable production methods. Major players in the market are investing in research and development to enhance production efficiencies and reduce costs, often leveraging advanced technologies and strategic partnerships to strengthen their market positions. As demand for bio-based chemicals increases, companies are also exploring renewable feedstocks to meet the growing consumer preference for environmentally friendly products. This competitive environment is further intensified by both geographic expansion strategies and the development of new applications for succinic acid across industries such as pharmaceuticals, food and beverages, and biodegradable plastics.

Top Market Players

1. BASF SE

2. DSM

3. Myriant Corporation

4. Novamont S.p.A

5. Succinity GmbH

6. BioAmber Inc.

7. Mitsubishi Chemical Corporation

8. Hexion Inc.

9. Ginkgo BioWorks

10. Reverdia