It has been noticed in the last couple of years, the global Peracetic Acid Market has experienced a tremendous jump due to its strong oxidizing properties. It has been extensively used in paper and pulp bleaching industry because of its strong oxidizing properties. Another property which has made the peracetic acid market in such a high demand is the fact that it can acts as microbial agent, which makes it an important asset in medical, water treatment industries, and household care. Peracetic acid can be used as sanitizing disinfectant agent in various industry.
Other application of the peracetic acid market is that it can be used as valuable biocide in horticultural and agricultural industries. Rise in food and beverage industry all across the world due to incessant rise in population is likely to become the fastest growing segment of the market in the years to come. Rapid growth of population due to irregular family planning in most part of the world is triggering the demand for food and beverages as frozen meat, non- aerated and aerated drinks, and poultry, is likely to boost the demand for peracetic acidic market across the worldwide.
Apart from these, the rise in awareness among consumers regarding the availability of clean drinking water, and hygiene, as the regions are more vulnerable towards microbial infection, particularly in frozen food, thus raising the demand for peracetic acid in the market. Amongst all the other region, North America dominates the market by holding the major share of the market. The global market for peracetic acid likely to expand at CAGR of 7.3% by 2020. The market is anticipated to be valued at US$652.9 mn by the assessed period 2014-2020.
- Food and Beverages Industry to Promote the Growth of Global Peracetic Acid Market
The global peracetic acid market is classified on the basis of end-user analysis which consists of water treatment, pulp and paper bleaching, and food and beverages, households, agriculture, medical and others. It has been anticipated that the surge in demand for peracetic acid worldwide in the end-user segment such as food and beverages, and water treatment is likely to provide boost in the growth of the market in the years to come.