Malic Acid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
The global malic acid market size reached US$ 211.7 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 283.7 Million by 2028, exhibiting a growth rate (CAGR) of 5.1% during 2023-2028.
Malic acid is a dicarboxylic acid made by all living organisms and has the molecular formula C4H6O5. It contributes to the sour and tart taste of foods and is found in nearly all fruits including apples, apricots, blackberries, grapes, peaches, plums, pears, strawberries and mangoes. The consumption of malic acid helps in detoxification, energy production, treating chronic fatigue syndrome (CFS) and improving overall muscle performance. It is extensively used in the food processing industry as it assists in increasing the shelf life of packaged food and bakery items. It also facilitates the preparation of bakery products, desserts, fruit juices, frozen specialties and sports drinks. Apart from this, malic acid finds applications in the detergent, health, and cosmetics and personal care industries.
Global Malic Acid Market Drivers:
In recent years, the growing use of malic acid for manufacturing sugarless confectioneries has escalated its demand among obese and diabetic people. Moreover, regulatory authorities such as the US Food and Drug Administration (USFDA), European Food Safety Authority (EFSA) and Food Safety and Standards Authority of India (FSSAI) have approved the use of malic acid in food processing, thereby catalyzing its sales. Malic acid is also utilized as a substitute for citric acid and tartaric acid in the detergent industry, owing to its lower hygroscopicity and higher solubility. Apart from this, it is used as an ingredient in many cosmetic and personal care products as it has antioxidant properties which make the skin healthy and shiny. In the pharmaceutical industry, malic acid is used in the production of medical products including cough syrups, throat lozenges, toothpaste, mouthwash and health supplements such as protein shakes and nutrition bars.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global malic acid market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on product and application.
Breakup by Product:
Based on the product types, the market has been segmented into L-malic acid, D-malic acid and DL-malic acid.
Breakup by Application:
Confectionery and Food
On the basis of applications, the market has been segregated into beverages, confectionery and food, personal care, and others. Currently, beverages represent the largest application segment since malic acid is used as a preferred acidulent in this segment.
Middle East and Africa
Region-wise, Asia Pacific exhibits a clear dominance in the market. Other major regions include North America, Middle East and Africa, Latin America, and Europe.
The competitive landscape of the market has also been examined with some of the key players being Changmao Biochem, Bartek, Thirumalai Chemicals, Fuso Chemical Co., Ltd, Polynt, Yongsan Chemicals, Anhui Sealong Biotechnology, The Chemical Company, Miles Chemical, Isegen South Africa, Spectrum Chemical, Mitsubishi Chemical, Corbion, Mubychem Group and Tate & Lyle.
Key Questions Answered in This Report
1. What was the size of the global malic acid market in 2022?
2. What is the expected growth rate of the global malic acid market during 2023-2028?
3. What are the key factors driving the global malic acid market?
4. What has been the impact of COVID-19 on the global malic acid market?
5. What is the breakup of the global malic acid market based on the application?
6. What are the key regions in the global malic acid market?
7. Who are the key players/companies in the global malic acid market?
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