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Fumaric Acid Market By Extraction Type (Fumaria Officinalis, Maleic Anhydride, Fermentation) By End Use (Food and Beverage, Cosmetic, Pharmaceutical, Chemical) By Application (Food Additives, Rosin Paper Sizes, Unsaturated Polyester Resins (UPR), Alkyd Resins, Animal Feed, Others) - Growth, Share, Opportunities & Competitive Analysis, 2016 – 2028

What is the Global Consumption of Fumaric Acid?

The global consumption of Fumaric Acid increased to more than 255-kilo metric tonnes in 2021 and is projected to witness substantial growth in the near future. In 2021, Asia Pacific dominated the global market consumption with China leading the way. Fumaric acid is utilised as an acidulant, pH controller, and flavour enhancer in the food and beverage industry. Because of the growing popularity of processed foods and the greater usage of flavouring compounds, global demand for fumaric acid has skyrocketed.

What is the Market Size of Fumaric Acid in terms of value?

fumaric-acid-market

Global Fumaric Acid Market is projected to increase at a significant CAGR of 4.70% in the coming years. In 2021, the global Fumaric Acid market was valued at USD 710.5 Million and is projected to reach the value of USD 979.92 million by 2028. The demand for Fumaric Acid is projected to increase substantially in the coming years and is presumed to generate revenue opportunities for the key industry players worth USD 6,712.27 million during the forecast period between 2022 and 2028.

What is the Price Trends for Fumaric Acid?

The food, pharmaceutical, and chemical sectors were the main drivers of Fumaric Acid demand. Meanwhile, rising upstream Maleic Anhydride prices pushed up Fumaric Acid's production costs, affecting its pricing value. In conclusion, the evaluated prices of Fumaric Acid in the United States at CFR New York in January were USD 1060/MT, increasing to USD 1935/MT in February. The demand for Fumaric Acid in the domestic market increased due to increased demand from bakeries and confectionaries, as well as increased usage in the paint sector. As a result, during the month of March, the price of fumaric acid ex-Mumbai in India settled at USD 2266.67/MT.

Interesting Facts about Fumaric Acid Industry

  • The top 5 countries for Fumaric Acid exports are the US, Germany, China, Switzerland, and UK.
  • The top 5 importers of Fumaric Acid are Belgium, US, Spain, Netherlands, and Poland.
  • Fumaric acid is utilized as an acidulant, pH controller, and flavor enhancer in the food and beverage industry. Because of the growing popularity of processed foods and the greater usage of flavoring compounds, global demand for fumaric acid has skyrocketed. and others are the major factors driving the growth of the market.
  • One of the most prominent applications for fumaric acid is food processing. Fumaric acid is a common food additive used to keep food stable and add acidity to a variety of processed foods. Fumaric acid has a sourer flavor than citric acid. Fumaric acid is found in mushrooms, lichen, fumitory, Iceland moss, and bolete. Fumaric acid, on the other hand, is manufactured for use as a food additive, most commonly from malic acid in apples. are projected to hinder the growth of the Fumaric Acid market in food processing over the forecast period.
  • Asia Pacific region had a major share in terms of volume as well as value in the global Fumaric Acid market in 2021 and is projected to continue its dominance over the forecast period.
  • General economic conditions, such as substantial reliance on resins by construction/remodelling activities (residential and non-residential) and motor vehicle manufacture, have a significant impact on global demand for Unsaturated Polyester Resins (UPR). Thus, UPR segment has largest share in 2021.

Who are the Top 10 players/companies in the Fumaric Acid market in terms of value and volume?

The key players in the global Fumaric Acid market in terms of value and volume include Bartek Ingredients, Fuso Chemicals, Arkema SA, Xilong Chemical Company Ltd, Tianjin Bohai Chemicals, The Chemical Company, Wego Chemicals & Mineral Corp.  BASF SE, Huntsman Corporation, and Prinova LLC. These major players are focusing on new product development and technical innovation in order to improve their Fumaric Acid production and achieve a competitive market share on a global scale. For instance, in March 2020, Bartek Ingredients Inc., a leading manufacturer of dynamic ingredients based in Canada, announced plans to increase malic and fumaric acid manufacturing capacity by 10,000 metric tonnes (MT). The company's position in North America would be strengthened as a result of this expansion. On the other hand, in July 2019 Thirumalai Chemicals, based in India, approved the proposal to establish a subsidiary in the United States to operate a food ingredient production facility. It will generate malic and fumaric acid, with a total annual capacity of 30,000 tonnes. The company intends to meet the high demand for these chemicals in North America and elsewhere on the planet.

Who are the Top 10 Countries in the Fumaric Acid Market?

In the global Fumaric Acid market, the major countries are China, India, Japan, the U.S., Canada, the U.K., Germany, Australia, Switzerland, and France. China is the major producer and consumer of Fumaric Acid with more than 33% of the volume share in the global market in 2021. Processed fruits, pork, dairy, and a few specialty grains and legumes are among the food categories that could propel China's food processing industry forward. As a result, the food and beverage industry provides investment prospects, as well as demand for new equipment utilized in such operations, which provides market potential.

Which is the Key End User Area in the Fumaric Acid Market?

The key applications of Fumaric Acid include food and beverage, cosmetic, pharmaceutical and chemical. Food and beverage have been the most popular application category in recent years. In food and beverage applications, fumaric acid is utilized for preservation and flavor enhancement. Over the projection period, the segment's growth is likely to be driven by rising demand for convenience foods. Energy drinks and bars are expected to stimulate the food and beverage application industry even further. Fumaric acid is a common food ingredient that has been used to keep food stable and impart acidity to many processed meals. The flavor of fumaric acid is sourer than that of citric acid (another common food additive). Mushrooms, lichen, fumitory, Iceland moss, and bolete all contain fumaric acid.

However, fumaric acid has been synthesized for use as a food additive, with malic acid from apples being the most common source. The hydrophobic nature of fumaric acid results in a long-lasting sourness and some flavor impact when employed as a food additive. Fumaric acid likewise lowers the pH level while adding only a small amount of sourness. Fumaric acid has a higher buffering ability than other dietary acids due to its low molecular weight. Because of its strength, less amount of fumaric acid is necessary to be added, lowering costs.

What are the Major Driving Factors for the Fumaric Acid Market?

The food and beverage business, as well as the building and construction industry, drove the market for fumaric acid. Food safety and preservation, combined with the growing popularity of processed foods, were the primary factors driving demand for fumaric acid in the food and beverage industry. The main cause of the market's rapid rise is an increase in demand from the chemicals processing industry. Rising industrialization, rising demand for baking powders in synthetic resins, and the development and growth of various end-user verticals such as the cosmetic industry, particularly in developing nations, will all have a direct and beneficial impact on the market's growth rate.

What are the Major Restraints for Fumaric Acid Market?

The key restraint of the global Fumaric Acid market which is projected to hamper the market growth include is the health risk associated with fumaric acid. Government regulations governing the production of unsaturated polyester and alkyd resins may limit the market's growth.

Which Region Dominated the World Fumaric Acid Market?

In 2021, Asia Pacific dominated the global Fumaric Acid market. Due to demand from nations such as India, China, and Japan, the Asia Pacific region would dominate the worldwide fumaric acid market.

Processed fruits, pork, dairy, and a few specialty grains and legumes are among the food categories that could propel China's food processing industry forward. As a result, the food and beverage industry provides investment prospects, as well as demand for new equipment utilized in such operations, which provides market potential. Nestle agreed in May 2020 to make a series of investments in the country to improve its footprints and expand its product portfolio. Nestle plans to invest roughly USD 103.4 million in a capacity expansion of its existing pet food plant in Tianjin, as well as its first plant-based product manufacturing facility in Asia.

India's food processing industry has traditionally been focused on export. However, due to urbanization and consumer tastes, the local market is also expanding. India exported processed food worth INR 31,111 crores, primarily processed fruits, vegetables, and meats, including seafood, as well as a significant number of alcoholic beverages.

Segmentation of Global Fumaric Acid Market-

Global Fumaric Acid Market – Extraction Type

  • Fumaria Officinalis
  • Maleic Anhydride
  • Fermentation

Global Fumaric Acid Market – By End Use

  • Food and Beverage
  • Cosmetic
  • Pharmaceutical
  • Chemical

Global Fumaric Acid Market – By Application

  • Food Additives
  • Rosin Paper Sizes
  • Unsaturated Polyester Resins (UPR)
  • Alkyd Resins
  • Animal Feed
  • Others

Frequently asked questions about the global Fumaric Acid industry

Asia Pacific accounted for the highest share in the global Fumaric Acid market in terms of value as well as volume.

The market for fumaric acid was driven by the food and beverage industry, as well as the building and construction industry. An increase in demand from the chemical’s processing industry is the primary driver of the market's rapid growth

Food and Beverages Fumaric Acid had a major share in 2021 with more than 55% of the market revenue share.

Unsaturated Polyester Resins (UPR) had a major share in the global market in 2021 and is projected to continue its dominance over the forecast period.

Fumaric Acid Market Report Scope

Report Attribute Details
Market Value in 2021 USD 710.5 Million
Market Value in 2028 USD 979.92 million
CAGR 4.70%
Benchmarking Year 2021
Past data 2016 – 2021
Forecast period 2022 – 2028
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Trusted By
Godaddy
Published Date:  Jun 2022
Category:  Chemicals
Report ID:   57739
Report Format:   PDF
Pages:   175
Rating:    4.8 (76)
Delivery Time: 24 Hours to 48 Hours   
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