Fumaric Acid Market
Description
Fumaric Acid Market, By Type (Food Grade and Technical Grade), By Application (Food & Beverage Processing, Rosin Paper Sizing, Unsaturated Polyester Resin, Alkyd Resin, Personal Care & Cosmetics, Other Applications), By End User Industry (Food and Beverage, Cosmetics, Pharmaceutical, Chemical, Other End user Industries), By Geography (North America, Latin America, Europe, Middle East & Africa, and Asia Pacific)
Fumeric acid is a chemical compound that occurs in a wide range of plants like lichen and bolete mushrooms and has a fruity taste. Fumeric acid and its salts are also known as fumarates or fumarate esters. The name "fumarate" may also refer to a C2 compound. It is used in baking and desserts. This acid is highly acidic and give desserts a more intense aftertaste. Fumaric acid is used in puddings, gelatin desserts, condensed milk products, and pie fillings. It can be used in place of citric acid. Despite the sourness it adds, fumaric acid is still considered safe by the Food and Drug Administration (FDA).Market Dynamics:
Growing applications in the food and beverage industry is primarily fuelling the growth of the fumeric acid market. Increasing demand from the pharmaceutical industry, where it is used in as a food additive, is again fostering the market growth. Additionally, the growing automobile production where it is used in the fabrication of body panels for heavy and light duty vehicles, is further anticipated to augment the market growth.
On the other, health hazards associated with fumeric acid are projected to hinder the market growth.
Rise in construction and remodelling activities across developing countries is creating demand for Unsaturated Polyester Resin (UPR). It is used in the production of UPR and alkyd resins, thus demand for paints is expected to grow due to growing construction activities.
Increasing investment in R &D by key players to develop bio-based fumaric acid is expected to uplift the market growth in the near future. For instance, in March 2020, Bartek Ingredients has announced a 10,000 million ton (Mt) malic acid capacity expansion by the first quarter of next year. The company specialises in malic acid, food-grade fumaric acid and maleic anhydride for food and beverage applications.
Key features of the study:
- This report provides an in-depth analysis of the fumeric acid market, and provides market size (US$ Million) and Compound Annual Growth Rate (CAGR%) for the forecast period (2023-2030), considering 2022 as the base year
- It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the fumeric acid market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- The key companies covered as a part of this study include Anmol Chemicals, Bartek Ingredients Inc., Changmao Biochemm, ESIM Chemicals, Fuso Chemical Co. Ltd, Merck KGaA, Polynt, Thirumalai Chemicals Ltd, UPC Group, Yongsan Chemicals Inc., and XST Biological Co. Ltd
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The fumeric acid market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the fumeric acid market
- Fumaric Acid Market, By Type:
- Food Grade
- Technical Grade
- Fumaric Acid Market, By Application:
- Food & beverage Processing
- Rosin Paper Sizing
- Unsaturated Polyester Resin
- Alkyd Resin
- Personal Care & Cosmetics
- Other Applications
- Fumaric Acid Market, By End User Industry:
- Food and Beverage
- Cosmetics
- Pharmaceutical
- Chemical
- Other End user Industries
- Fumaric Acid Market, By Region:
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
- Company Profiles
- Anmol Chemicals
- Bartek Ingredients Inc.
- Changmao Biochemm
- ESIM Chemicals
- Fuso Chemical Co., Ltd.
- Merck KGaA
- Polynt
- Thirumalai Chemicals Ltd
- UPC Group
- Yongsan Chemicals Inc.
- XST Biological Co. Ltd
Table of Contents
162 Pages
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