Email
Print
Global Fumaric Acid Market - Forecast(2024 - 2030)
Global Fumaric Acid Market Overview
The global fumaric acid market size is forecast to reach US$961.4 million by 2027, after growing at a CAGR of 5.5% during 2022-2027. Fumaric acid is an organic acid that serves a variety of functional purposes like food additives, metabolites, and others. Fumaric acid help in enhancing taste, managing pH, reducing absorbent, improving shelf stability, and more for polymeric resins, alkyd resins, and others. Fumaric acid acts as a functional ingredient for food, beverage, animal nutrition, industrial, pharmaceutical, and personal care industry. According to FCC Food and Beverage Report 2021, Manufacturing sales of food & beverages are valued at US$122,886 million with year on year increment of 3.5% in 2020. Therefore, the growing manufacturing sales of the food & beverages sector along with growing demand from industrial, pharmaceutical, and others will boost the demand for the global fumaric acid market during the forecast period.
COVID-19 Impact
The Covid-19 pandemic has been a major challenge for the global fumaric acid market owing to directly affecting the manufacturer's supply chain across the globe and shutting down the production facilities to minimize the risk of virus spread. The major sectors such as chemical, industrial, and others have been highly impacted. Due to the social distancing policy, most of the manufacturing sector has been halted to eradicate the risk of infection due to covid 19. According to the U.S. Department of Homeland Security, the Chemical Sector of the US converts raw materials into more than 70,000 diverse products essential to modern life and distributes those products to more than 750,000 end-users throughout the country. As the pandemic affected the chemical markets in each country, in turn, it affected the allied sector as well. The initiation taken by the government and private sector will help to recover the global fumaric acid market during the forecast period.
Report Coverage
The “Global Fumaric Acid Market Report – Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the Global Fumaric Acid industry.
By Grade: Pharma Grade, Food Grade, and Technical Grade
By Application: Industrial (Alkyd Resins, Printing Inks, Paper Sizing, Agricultural Chemicals, Surfactants, Plasticizers, and Others), Bakery & Desserts (Bread, Cereals, Fortified Meal, Fruit Bars, Pastries, Tortillas, and Others), Beverages (Carbonated Drinks, Juice, Beer, Wine, and Spirits, Tea, Sports Performance Drinks and Others), Confectionery (Gummies, Chewing Gum, Candies, and Others), Condiments & Fruit Preserves (Jellies & Jams, Dressings & Sauces), Personal Care & Cosmetics (Medicinal, Skin Care and Others), Animal Nutrition and Others
By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, Italy, France, Netherlands, Belgium, Spain, Russia, and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia, and New Zeeland, Indonesia, Taiwan, Malaysia, and Rest of APAC), and Rest of the World: The Middle East (Saudi Arabia, UAE, Israel, Rest of the Middle East) and Africa (South Africa, Nigeria, Rest of Africa)
Key Takeaways
- The Asia Pacific is expected to register a CAGR of 7.1% during the forecast period (2022-2027). The increasing demand from industrial manufacturing, the process food industry, and others, among Asian countries such as China, India, Japan, and South Korea is driving the market for foam glass.
- The rise in demand for alkyd resins and unsaturated polyester resins from industrial manufacturing is boosting the global fumaric acid market.
- Robust demand from the chemicals processing industry is the major driver fuelling the fumaric acid market growth rate.
- Growing demand for food additives in food processing for food preservatives and also to enhance the taste of food will help to drive the global fumaric acid market in an estimated period.
Figure: Asia Pacific Fumaric Acid Market Revenue, 2021-2027 (US$ Million)
For More Details on This Report - Request for Sample
Global Fumaric Acid Market Segment Analysis – By Grade
The industrial-grade segment accounted for around 45% of the market share in 2021 and is estimated to grow at a significant CAGR during the forecast period. Food-grade fumaric acid is widely used to enhance the tart fruit flavor of beverages, confectionery, desserts, and others. Food grade fumaric acid-based food additive helps in balancing the food & beverage taste of high intensity sweet to low-calorie refreshing formulations. According to FCC Canada, food and beverage manufacturing sales have increased by 11.8% as of July 2021 and are expected to increase by 13.3% for the second quarter of 2022. Therefore, the use of food-grade fumaric acid in the food & beverage sector will boost the market for global fumaric acid during the forecast period.
Global Fumaric Acid Market Segment Analysis - By Application
The industrial segment accounted for approximately 21% of the market share in 2021 and is estimated to grow at a significant CAGR during the forecast period. Fumaric acid is widely used as a manufacturing solution for industrial applications like polymeric resins, alkyd resins, unsaturated polyester resins, and others as fumaric acid is an important chemical component in finishing products and promoting machine longevity. It helps to improve performance, safety, and quality in a wide range of industrial applications from increasing adhesion of paints to cleaning machinery. According to the Confederation of European Paper Industries, the total production of paper & board is around 90.2 tons million with the production increasing by 5% in 2021 as compared to 2020 and forecast to grow by 4% in 2022 and by 2.8% in 2023. Therefore, the growing industrial sector will boost the demand for the global fumaric acid market during the forecast period.
Global Fumaric Acid Market Segment Analysis - By Geography
Asia Pacific region held the largest share in the global fumaric acid market in 2021 up to 38%, owing to the growing industrial, food & beverage, pharmaceutical, chemical, and others, in developing countries like China, India, Indonesia, and others. The major factor responsible for the growth of global fumaric acid is safety standards as fumaric acid is an organic acid that serves a variety of functional purposes. A fumaric acid is an effective tool for balancing the pH in food and beverages and also helps in keeping powdered mixes from caking & hardening from moisture. According to the European Federation of Pharmaceutical Industries and Associations, in 2020, China's pharmaceutical market size is around 8.2% and Japan holds around 7.0% of the market share in the world. Also, according to India Brand Equity Research Federation, the chemical industry of India is expected to contribute US$300 billion to India’s GDP by 2025. Therefore, the growing pharmaceutical and chemical sectors are boosting the demand for the global fumaric acid market during the forecast period.
Global Fumaric Acid Market Drivers:
Growing Construction Industry will boost the consumption of fumaric acid
The growing construction industry is expected to boost the consumption of fumaric acid. Fumaric acid is widely used in various materials such as paints and coatings, adhesives and sealants, and rosin paper, which in turn will increase the production of unsaturated polyester resins, polymeric resins, and alkyd resins. This will eventually drive the demand for fumaric acid during the forecast period. According to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development, new residential permits are 1,859,000, construction begins for 1,769,000 units as of February 2022. Therefore, the growing construction will be driving the global fumaric acid market during the forecast period.
Increasing Demand for Food Additive in the Processed Food Industry
In the process food industry, food additives find usage in chocolate milk, cocoa, eggnog, condensed milk, protein beverages, processed meats, salads along with canned meat, poultry and fish, and others. These food additives are Food and Drug Administration (FDA) compliant for contacting directly and indirectly with food. Fumaric acid is an excellent food-safe additive to be applied as a food additive in the processed food industry. According to Japan Food Service Association, the processed food industry of Japan is valued at US$220 billion in 2020 from traditional Japanese, western, and health-oriented foods for infants and the elderly. Also, agricultural and processed food products exports of India are around US$21.5 billion in 2021 and expected to be valued at US$ 23.71 billion in 2022 according to the Ministry of Commerce & Industry. Thus, with the rising growth of the processed food sector, the demand for fumaric acid is expected to increase during the forecast period.
Global Fumaric Acid Market Challenges:
Stringent Government Regulations and Rising Health Awareness
Fumaric acid is an organic compound that occurs widely in nature. It has a fruit-like taste and can be used in various industries as a food additive, polymeric resins, and others. Fumaric acid is practically non-toxic but excess doses are probably a case of health hazards after long-term use. To overcome this problem, stringent government regulations are made to tackle the health hazards like skin burning, throat irritation, nose irritation, and kidney damage. Therefore, the stringent government regulations and rising health awareness will eventually hinder the global fumaric acid market growth.
Global Fumaric Acid Market Industry Outlook
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the global fumaric acid market. Global Fumaric Acid market top 10 companies include
- Bartek Ingredients Inc.
- Fuso Chemical Co. Ltd
- Prinova Group LLC.
- XST Biological Co. Ltd.
- Polynt S.P.A
- Wego Chemicals and Mineral Corp
- Xilong Chemical Company Ltd
- Thirumalai Chemicals
- Changzhou Yabang Chemical Co Ltd
- Tianjin Bohai Chemicals
Recent Developments
- In December 2021, Bartek Ingredients Inc., specializing in malic and fumaric acid, announced its latest proprietary technology to optimize the pectin-based gummy formulation FiEurope event.
- In March 2020, Bartek Ingredients Inc. has invested in the expansion of 10,000 MT malic acid capacity in support of growth in the malic and fumaric acid food-grade markets.
- In July 2019, Thirumalai Chemicals has approved a proposal to set up a subsidiary to establish and operate a food ingredients manufacturing facility (including malic and fumaric acid) in the US. The facility will have a capacity of about 30,000 tonnes a year, to address the growing demand in the global market, including North America.
Relevant Reports
Organic Acids Market - Forecast(2022 - 2027)
Report Code: CMR 0508
Inorganic Acid Market – Forecast (2022 - 2027)
Report Code: CMR 0418
Chloroplatinic Acid Market - Forecast(2022 - 2027)
Report Code: CMR 1003
Butyric Acid Market - Forecast(2022 - 2027)
Report Code: CMR 0340
For more Chemicals and Materials Market reports, please click here
1. Global Fumaric Acid Market- Market Overview
1.1 Definitions and Scope
2. Global Fumaric Acid Market- Executive Summary
2.1 Key Trends by Grade
2.2 Key Trends by Application
2.3 Key Trends by Geography
3. Global Fumaric Acid Market– Comparative analysis
3.1 Market Share Analysis- Major Companies
3.2 Product Benchmarking- Major Companies
3.3 Top 5 Financials Analysis
3.4 Patent Analysis- Major Companies
3.5 Pricing Analysis (ASPs will be provided)
4. Global Fumaric Acid Market - Startup Companies Scenario Premium
4.1 Major startup company analysis:
4.1.1 Investment
4.1.2 Revenue
4.1.3 Product portfolio
4.1.4 Venture Capital and Funding Scenario
5. Global Fumaric Acid Market – Industry Market Entry Scenario Premium Premium
5.1 Regulatory Framework Overview
5.2 New Business and Ease of Doing Business Index
5.3 Successful Venture Profiles
5.4 Customer Analysis – Major companies
6. Global Fumaric Acid Market - Market Forces
6.1 Market Drivers
6.2 Market Constraints
6.3 Porters Five Force Model
6.3.1 Bargaining Power of Suppliers
6.3.2 Bargaining Powers of Buyers
6.3.3 Threat of New Entrants
6.3.4 Competitive Rivalry
6.3.5 Threat of Substitutes
7. Global Fumaric Acid Market – Strategic Analysis
7.1 Value/Supply Chain Analysis
7.2 Opportunity Analysis
7.3 Product/Market Life Cycle
7.4 Distributor Analysis – Major Companies
8. Global Fumaric Acid Market – By Grade (Market Size -US$ Million/Billion)
8.1 Pharma Grade
8.2 Food Grade
8.3 Technical Grade
9. Global Fumaric Acid Market – By Application (Market Size -US$ Million/Billion)
9.1 Industrial
9.1.1 Alkyd Resins
9.1.2 Printing Inks
9.1.3 Paper Sizing
9.1.4 Agricultural Chemicals
9.1.5 Surfactants
9.1.6 Plasticizers
9.1.7 Others
9.2 Bakery & Desserts
9.2.1 Bread
9.2.2 Cereals
9.2.3 Fortified Meal
9.2.4 Fruit Bars
9.2.5 Pastries
9.2.6 Tortillas
9.2.7 Others
9.3 Beverages
9.3.1 Carbonated Drinks
9.3.2 Juice
9.3.3 Beer, Wine, and Spirits
9.3.4 Tea
9.3.5 Sports Performance Drinks
9.3.6 Others
9.4 Confectionery
9.4.1 Gummies
9.4.2 Chewing Gum
9.4.3 Candies
9.4.4 Others
9.5 Condiments & Fruit Preserves
9.5.1 Jellies & Jams
9.5.2 Dressings & Sauces
9.6 Personal Care & Cosmetics.
9.6.1 Medicinal
9.6.2 Skin Care
9.6.3 Others
9.7 Animal Nutrition
9.8 Others
10. Global Fumaric Acid Market - By Geography (Market Size -US$ Million/Billion)
10.1 North America
10.1.1 USA
10.1.2 Canada
10.1.3 Mexico
10.2 Europe
10.2.1 UK
10.2.2 Germany
10.2.3 France
10.2.4 Italy
10.2.5 Netherlands
10.2.6 Spain
10.2.7 Russia
10.2.8 Belgium
10.2.9 Rest of Europe
10.3 Asia-Pacific
10.3.1 China
10.3.2 Japan
10.3.3 India
10.3.4 South Korea
10.3.5 Australia and New Zealand
10.3.6 Indonesia
10.3.7 Taiwan
10.3.8 Malaysia
10.3.9 Rest of APAC
10.4 South America
10.4.1 Brazil
10.4.2 Argentina
10.4.3 Colombia
10.4.4 Chile
10.4.5 Rest of South America
10.5 Rest of the World
10.5.1 Middle East
10.5.1.1 Saudi Arabia
10.5.1.2 UAE
10.5.1.3 Israel
10.5.1.4 Rest of the Middle East
10.5.2 Africa
10.5.2.1 South Africa
10.5.2.2 Nigeria
10.5.2.3 Rest of Africa
11. Global Fumaric Acid Market– Entropy
11.1 New Product Launches
11.2 M&As, Collaborations, JVs and Partnerships
12. Global Fumaric Acid Market – Industry/Segment Competition Landscape Premium
12.1 Company Benchmarking – Major Companies
12.2 Market Share at Global Level - Major companies
12.3 Market Share by Key Region - Major companies
12.4 Market Share by Key Country - Major companies
12.5 Market Share by Key Application - Major companies
12.6 Market Share by Key Product Type/Product category - Major companies
13. Global Fumaric Acid Market – Key Company List by Country Premium Premium
14. Global Fumaric Acid Market Company Analysis - Business Overview, Product Portfolio, Financials, and Developments
14.1 Company 1
14.2 Company 2
14.3 Company 3
14.4 Company 4
14.5 Company 5
14.6 Company 6
14.7 Company 7
14.8 Company 8
14.9 Company 9
14.10 Company 10 and more
"*Financials would be provided on a best efforts basis for private companies*"
LIST OF TABLES
1.Global Fumalic Acid Market, by Type Market 2019-2024 ($M)2.Global Fumalic Acid Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
3.Global Fumalic Acid Market, by Type Market 2019-2024 (Volume/Units)
4.Global Fumalic Acid Market Analysis and Forecast by Type and Application Market 2019-2024 (Volume/Units)
5.North America Fumalic Acid Market, by Type Market 2019-2024 ($M)
6.North America Fumalic Acid Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
7.South America Fumalic Acid Market, by Type Market 2019-2024 ($M)
8.South America Fumalic Acid Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
9.Europe Fumalic Acid Market, by Type Market 2019-2024 ($M)
10.Europe Fumalic Acid Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
11.APAC Fumalic Acid Market, by Type Market 2019-2024 ($M)
12.APAC Fumalic Acid Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
13.MENA Fumalic Acid Market, by Type Market 2019-2024 ($M)
14.MENA Fumalic Acid Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
LIST OF FIGURES
1.US Global Fumalic Acid Industry Market Revenue, 2019-2024 ($M)2.Canada Global Fumalic Acid Industry Market Revenue, 2019-2024 ($M)
3.Mexico Global Fumalic Acid Industry Market Revenue, 2019-2024 ($M)
4.Brazil Global Fumalic Acid Industry Market Revenue, 2019-2024 ($M)
5.Argentina Global Fumalic Acid Industry Market Revenue, 2019-2024 ($M)
6.Peru Global Fumalic Acid Industry Market Revenue, 2019-2024 ($M)
7.Colombia Global Fumalic Acid Industry Market Revenue, 2019-2024 ($M)
8.Chile Global Fumalic Acid Industry Market Revenue, 2019-2024 ($M)
9.Rest of South America Global Fumalic Acid Industry Market Revenue, 2019-2024 ($M)
10.UK Global Fumalic Acid Industry Market Revenue, 2019-2024 ($M)
11.Germany Global Fumalic Acid Industry Market Revenue, 2019-2024 ($M)
12.France Global Fumalic Acid Industry Market Revenue, 2019-2024 ($M)
13.Italy Global Fumalic Acid Industry Market Revenue, 2019-2024 ($M)
14.Spain Global Fumalic Acid Industry Market Revenue, 2019-2024 ($M)
15.Rest of Europe Global Fumalic Acid Industry Market Revenue, 2019-2024 ($M)
16.China Global Fumalic Acid Industry Market Revenue, 2019-2024 ($M)
17.India Global Fumalic Acid Industry Market Revenue, 2019-2024 ($M)
18.Japan Global Fumalic Acid Industry Market Revenue, 2019-2024 ($M)
19.South Korea Global Fumalic Acid Industry Market Revenue, 2019-2024 ($M)
20.South Africa Global Fumalic Acid Industry Market Revenue, 2019-2024 ($M)
21.North America Global Fumalic Acid Industry By Application
22.South America Global Fumalic Acid Industry By Application
23.Europe Global Fumalic Acid Industry By Application
24.APAC Global Fumalic Acid Industry By Application
25.MENA Global Fumalic Acid Industry By Application