Global Malic Acid Market 2017-2021
About Malic Acid
Malic acid naturally occurs in various fruits, such as apples and watermelons, besides being produced artificially by the fermentation process. Currently, malic acid is most commonly used as a taste enhancer and preservative. Malic acid finds extensive use in various application segments, such as the food and beverages, confectioneries, pharmaceuticals, and personal care segments. It is used as a pain reliever, energy booster besides being used in several other applications.
Technavio’s analysts forecast the global malic acid market to grow at a CAGR of 5.39% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global malic acid market for 2017-2021. 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 Malic Acid Market 2017-2021
Technavio recognizes the following companies as the key players in the global malic acid market: Bartek, Changmao Biochem, FUSO CHEMICAL, Polynt, and Thirumalai Chemicals.
Other Prominent Vendors in the market are: Anhui Sealong Biotechnology, Yongsan Chemicals, Miles Chemical, The Chemical Company, Spectrum Chemical, Isegen South Africa, Corbion, Mitsubishi Chemical, Tate & Lyle, and Mubychem Group.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Evolution of malic acid in food and beverages industry. Malic acid is used widely in the food and beverages industry. It functions as an acidulant and taste enhancer in ready-to-eat food products and carbonated drinks. Along with this, approval by various government bodies, such as the US FDA and FSSAI of India, are expected to increase the growth pace of malic acid consumption. The growth of the food and beverages industry is expected to propel the growth of the global malic acid market.”
According to the report, one of the major drivers for this market is Growing demand for processed food. With the emergence of new business models that are expected to transform the entire food retail scenario, the demand for processed food and beverages is expected to increase. Along with this, increasingly busy lifestyle has resulted in the growing demand for ready meals. It is expected that the global market for easy to make ready meals and beverages is expected to grow at a CAGR of around 5% during the forecast period. Malic acid has its major applications in the food industry, especially in processed and ready to eat food products as a flavor enhancer.
Further, the report states that one of the major factors hindering the growth of this market is Threat from citric acid. Malic acid faces certain challenges from citric acid. The properties of citric acid and malic acid are similar; both are used as flavor enhancers, pH regulators, preservatives, and antioxidants. Both these acids are present on the GRAS list maintained by the US FDA. The main difference is the purpose for which they are used and the price associated with them.
Bartek, Changmao Biochem, FUSO CHEMICAL, Polynt, Thirumalai Chemicals, Anhui Sealong Biotechnology, Yongsan Chemicals, Miles Chemical, The Chemical Company, Spectrum Chemical, Isegen South Africa, Corbion, Mitsubishi Chemical, Tate & Lyle, and Mubychem Group.
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