MalicAcid Market: Introduction
TransparencyMarket Research delivers key insights on the global malic acid market. In terms of revenue,the global malic acid market is estimated to expand at a CAGR of 4.4% duringthe forecast period, owing to numerous factors, regarding which TMR offersthorough insights and forecasts in its report on the global malic acid market.
Theemergence of bio-based chemicals is likely to hamper the global malic acid marketduring the forecast period. Increase in the demand for malic acid in the food& beverages industry is anticipated to drive the global malic acid marketover the next decade, as malic acid is extensively employed in the food &beverages industry.
Malic Acid Market: Dynamics
The demandfor malic acid is increasing in the food & beverages industry. The globalfood processing industry has been continuously developing and expanding. It isthe most demanding industry, as processed food accounts for 80% ofglobal food sales. The packaged food industry is a leading segment of theglobal food processing industry. The global food processing industry is rapidlyexpanding, owing to the increase in population and income of the people. It isa highly powerful industry in the world economy. The food processing market isprojected to exceed US$ 4 Trn by 2024.Malic acid is widely employed in juices & beverages, as it enhances theflavor and offers tart taste to beverages.
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End-useindustries of malic acid such as food & beverages, medical & personalcare, and chemical have been continuously developing and expanding. This iscreating lucrative opportunities for the malic acid market. The demand formalic acid is primarily driven by the growth of the food & beverages industry.Manufacturers of malic acid are focusing on production and processing ofbio-based L-malic acid to meet the rising demand for the acid in industries.
Bio-basedproducts are derived from plants and other renewable agricultural, marine, andforestry materials. Bio-based products generally provide an alternative toconventional petroleum-derived products and include a diverse range ofofferings such as lubricants, detergents, inks, fertilizers, and bio-plastics.Recent findings indicate that environmental concerns regarding dangerouschemicals and fossil fuel depletion are resulting in an increase in theproduction of bio-based chemicals. The market for these chemicals is expectedto expand from US$ 6,474 Bn in 2016 toUS$ 23,976 Bnby 2025.
Malic Acid Market: ProminentRegions
AsiaPacific dominates the global malic acid market. The demand for juices &beverages and confectionery products is estimated to rise at a rapid pacebetween 2021 and 2031.This is expected to boost the demand of malic acid in Asia Pacific.
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China isanticipated to be a highly attractive country of the malic acid market in AsiaPacific during the forecast period. The food & beverages sector in China iswitnessing strong growth, owing to rise in income of the people. This has led toan increase in the demand for food additives, which, in turn, is augmenting themalic acid market in the country.
NorthAmerica is likely to be another highly attractive region for malic acid duringthe forecast period. The U.S. held a major share of the malic acid market inNorth America in 2020. Investmentsin the healthcare & personal care sector have increased in the U.S. in therecent years. This is driving the demand for malic acid in the medicinal &personal care sector in the country.
Malic Acid Market: Key Players
Majorplayers operating in the global malic acid market are Bartek Ingredients Inc.,Changmao Biochemical Engineering Co. Ltd, Fuso Chemicals Co., Ltd, Isegen SouthAfrica (Pty) Ltd, Thirumalai Chemicals Co. Ltd, Anhui Sealong BiotechnologyCo., Ltd, Prinova Group LLC., YONGSAN CHEMICALS, INC., Polynt SpA, MilesChemical, and Zhonglan Industry Co.,Ltd.
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