Global Fumaric Acid Market 2017-2021
About Fumaric Acid
Fumaric acid, also known as trans-butenedioic acid, is a white crystalline compound found in nature. It is the primary intermediate in the tricarboxylic acid cycle for the biosynthesis of organic acid in humans and other mammals. The global fumaric acid market can be classified into two segments on the basis of application and geography. Some of the key application segments of the fumaric acid market are food and beverages, UPR, rosin paper sizes, alkyd resins, and others.
Technavio’s analysts forecast the global fumaric acid market to grow at a CAGR of 6.93% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global fumaric acid market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Fumaric Acid Market 2017-2021
Technavio recognizes the following companies as the key players in the global fumaric acid market: Bartek Ingredients, Dastech International, FUSO CHEMICAL, Polynt, and Prinova Group.
Other Prominent Vendors in the market are: Changzhou Yabang Chemical, Nippon Shokubai, The Chemical Company, Thirumalai Chemicals, U.S. Chemicals, and WEGO CHEMICAL GROUP.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increased consumption of organic food additives. Customer's enthusiasm for organic food products and changing preferences and food habits are expected to propel the consumption of fumaric acid during the forecast period. Over the years, increased demand for organic food additive products has led to the allocation of more shelf space for organic food brands in retail stores.”
According to the report, one driver in the market is introduction of ethnic and innovative flavors. Vendors are introducing unique flavors in the food sector, and culinary experts are increasingly using various flavoring agents. Unique flavors are being used in beverages with mixologists incorporating organic products, herbs, and other ingredients to enhance the taste. With the spread of Asian food and flavors such as green tea, lemongrass, and soy, buyers are getting accustomed to more bitter flavors. Fumaric acid is non-hygroscopic; hence, it is used in pre-blends. It is extensively used as a flavor blender in ethnic cuisine and is also used widely in dry mixes to prevent moisture absorption and product degradation associated with it.
Further, the report states that one challenge in the market is increased threat of substitutes from citric acid and malic acid. Fumaric acid is facing stiff competition from other acidulants such as citric acid and malic acid. Citric acid can be found in a wide range of processed foods and carbonated drinks as it is a natural preservative and produces tartness in carbonated drinks. It is a weak organic acid; hence, it acts as a water softener by breaking down trace amounts of metal found in water. Citric acid has a number of applications in the cosmetics and pharmaceutical industries wherein it is used as a pH adjusting agent in skin lotions. Thus, due to the wide range of applications of citric acid, a number of manufacturers prefer to produce this acidulant on a massive scale in comparison to fumaric acid.
Bartek Ingredients, Dastech International, FUSO CHEMICAL, Polynt, Prinova Group, Changzhou Yabang Chemical, Nippon Shokubai, The Chemical Company, Thirumalai Chemicals, U.S. Chemicals, and WEGO CHEMICAL GROUP.
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