The North America Peracetic Acid Market would witness market growth of 7.2% CAGR during the forecast period (2024-2031). In the year 2020, the North America market's volume surged to 468.82 hundred tonnes, showcasing a growth of 17.4% (2020-2023).
In the Peracetic Acid market, the food and beverage industry rely on PAA for its potent antimicrobial properties, which ensures food safety and quality throughout various stages of production and distribution. peroxyacetic acid -based sanitizers are extensively employed for surface disinfection, equipment sanitation, and container sterilization in food processing facilities. Therefore, the food and beverage industry in US registered a volume of 162.65 hundred tonnes.
The US market dominated the North America Peracetic Acid Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $337.9 Million by 2031. The Canada market is experiencing a CAGR of 9.7% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 8.7% during (2024 - 2031).
PAA, also called peroxyacetic acid, is a strong-smelling, colorless liquid. It is employed as a multipurpose antioxidant and antibacterial agent. Additionally, it works well as a fungicide and bactericide, especially in applications related to food preparation. peroxyacetic acid is widely used for disinfecting food contact surfaces, equipment, and processing areas in food and beverage manufacturing facilities to ensure food safety and prevent microbial contamination.
Peroxyacetic acid is compatible with Clean-in-Place (CIP) systems commonly used in food and beverage manufacturing facilities to clean and sanitize processing equipment without disassembly. PAA-based sanitizers can be circulated through CIP systems to disinfect pipelines, tanks, heat exchangers, and other equipment, eliminating microbial biofilms and ensuring hygienic conditions in production lines.
The demand for effective hygiene products has surged in Canada, particularly in response to public health concerns such as infectious diseases and pandemics. With increasing awareness of environmental sustainability and green living, consumers in Canada are seeking natural, eco-friendly alternatives in personal care products. For instance, as per the International Trade Administration (ITA), in the first half of 2022, the Canadian cosmetics industry was the fastest-growing industry in the country. In 2022, Canada’s personal care and beauty sector earned around $11 billion in revenue. Peroxyacetic acid -based personal care products offer consumers peace of mind by providing superior antimicrobial protection, helping to prevent the spread of infections, and maintaining personal hygiene in daily routines in Canada. Also, ITA estimates by 2024, cosmetic industry revenue is anticipated to increase by 1.45% yearly to USD 1.8 billion. Hence, the factors mentioned above will drive the regional market growth.
Free Valuable Insights: The Peracetic Acid Market is Predict to reach USD 1.8 Billion by 2031, at a CAGR of 7.5%
Based on Application, the market is segmented into Disinfectant, Sanitizer, and Others. Based on End Use, the market is segmented into Food & Beverage, Healthcare, Water Treatment, Pulp & Paper, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
By Application (Volume, Hundred Tonnes, USD Billion, 2020-2031)
By End Use (Volume, Hundred Tonnes, USD Billion, 2020-2031)
By Country (Volume, Hundred Tonnes, USD Billion, 2020-2031)
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