Malic Acid Market is Expected to Surge at a Vigorous 5% CAGR from 2023 to 2030
Research Reports
Apr 12, 2023
Malic acid is largely known as the organic compound that adds a sour taste to fruits. Naturally occurring, malic acid is often and most commonly used as a food additive and has applications in several other end-use industries including pharmaceuticals and personal care products. Market Research Future has published its latest report on the global Malic Acid Market which is reported to display an average, yet consistent CAGR of 5.00% over the forecast period from 2023 to 2030. Used as an additive, malic acid has witnessed consistent demand over the years and is likely to generate a market value of USD 0.28 Billion by the end of 2030.
Malic acid is naturally sourced from fruits and vegetables and is used widely in the F&B sector to enhance flavor and add tartness to a variety of confectionery, beverages, and bakery products. The rapid and consistent growth of the food & beverage industry has been a significant influencer of growth for the global malic acid market. In F&B applications, malic acid is used to achieve the right pH, anti-microbial properties and enhance flavors. Increasing demand for convenient, packaged food and beverage products due to changing lifestyles and growing disposable income has contributed to the increase in demand for malic acid. Additionally, malic acid has uses in biochemistry which is further applied in personal care products. Increased use of multifunctional ingredients in hair and skin care is expected to catapult demand for malic acid.
Presently, the raw material process required to extract natural malic acid or produce synthetic malic acid has volatile pricing due to fluctuation in crude oil prices, thus restraining the market. However, increasingly, use of biofuel and related products, production of malic acid may witness new opportunities in the coming years.
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Market Segmentation
MRFR’s detailed analysis includes a breakdown of the various parts of the market which have been segmented on the basis of type, end-use, and region. Types of malic acid have broadly been segmented into L-malic acid, DL-malic acid, and D(+)-malic acid. Among these, the DL-malic acid segment has secured the most significant share of the market due to its rising applications in food, beverages animal feed, and agriculture among others. The segment will advance at a CAGR of 4.81% during the assessment period.
End-use industries where malic acid is used have been segmented into personal care, food & beverage, pharmaceuticals, and others. The F&B segment is expected to display the highest revenue over the forecast period of USD 137.9 Mn by 2027 and grow at the fastest pace. Meanwhile, the personal care segment is at a close second to F&B and will continue to grow as awareness regarding wellbeing and hygiene increases.
Regional Analysis
The Asia Pacific has established itself as the market leader among all other regional markets and is expected to generate revenue at the highest CAGR of 5.82% over the review period. The APAC market has a number of leading market players operating in the global market. Moreover, there is a rapid growth in the manufacturing sector with many end-user industries setting up manufacturing plants in the region due to the presence of comparatively cheap labor. The presence of a large consumer population along with increasing disposable income has resulted in an increased demand for food and beverages. The North American market is the second most significant market which is expected to reach an estimated USD 53.7 Mn in market value by 2027. The U.S is the largest country-level market. Meanwhile, Europe accounts for 20% of the global market share and is expected to grow at a moderate pace.
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Table of Content
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Supply Chain Analysis
4.1.1 Raw Material Suppliers
4.1.2 Manufacturers/Producers
4.1.3 Distributors/Retailers/Wholesalers/E-Commerce
4.1.4 End Use
4.2 Porter’s Five Forces Analysis
4.2.1 Threat Of New Entrants
4.2.2 Bargaining Power Of Buyers
4.2.3 Bargaining Power Of Suppliers
4.2.4 Threat Of Substitutes
4.2.5 Intensity Of Competitive Rivalry
5 Market Dynamics Of Global Malic Acid Market
5.1 Introduction
5.2 Drivers
5.3 Restraints
5.4 Opportunities
5.5 Challenges
5.6 Trends/Technology
Continue…
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Key Players
Prominent players at the forefront of the market have been profiled in MRFR’s report. These include Tate & Lyle, Corbion NV, Polynt S.p.A, Fuso Chemical Co., Ltd. (“Fuso”), Thirumalai Chemicals Ltd. (TCL), Changmao Biochemical Engineering Company Limited, Bartek Ingredients Inc., Isegen South Africa (Pty) Ltd, Anhui Sealong Biotechnology Co. Ltd., and Yongsan Chemicals, Inc
Latest Industry News
May 2021:
Thirumalai Chemicals Co. Ltd. declared its strategies to influence a project to manufacture 180,000 tons of Anhydride and 30,000 tons of fine and specialty chemicals per year.
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