Stratview Research announces the launch of a new research report on the Fumaric Acid Market by Product Type (Food Grade, Technical Grade), by Application Type (Food and Beverage Processing, Rosin Paper Sizing, Unsaturated Polyester Resin, Alkyd Resin, Personal Care & Cosmetics, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
Highlights from the Report
The fumaric acid market was estimated at USD 565.24 million in 2021 and is likely to grow at a CAGR of 4.3% during 2022-2028 to reach USD 763.67 million in 2028.
What is fumaric acid?
Fumaric acid is an organic compound that has a fruit-like taste. Fumaric acid is extensively used as a food additive. It is also known as trans-butene-dioic acid.
The report comprises an analytical representation of the Fumaric Acid Market size along with current trends, challenges, and future estimations to depict imminent investment pockets. To understand the profitable trends and gain a stronger foothold, the report also helps the users with key information related to growth drivers, restraints, and opportunities in the market. The current Fumaric Acid Market forecast is quantitatively analyzed from a particular time period of 5 years to benchmark the financial competency. The user will also get detailed info about the market trends and share of key vendors.
Market Dynamics
The fumaric acid market is experiencing significant growth due to several factors that are driving its demand in various industries. Some of the key factors contributing to the expansion of the fumaric acid market include-
- Expanding use in the polymer industry – Fumaric acid is used in the production of unsaturated polyester resins (UPRs), which are used in the production of products like paints, coatings, etc. The growing use of UPRs across various industries is expected to drive the demand for fumaric acid in the polymer industry.
- Growing Food and Beverage Industry: Fumaric acid is used as an acidulant and acidity regulator or pickling agent in the food and beverage industry. According to the Food and Agriculture Organization of the United Nations (FAO), feeding the world population in 2050 would call for increasing overall food production by ~70%. With the rising global population, the demand for processed food is increasing, leading to higher consumption of fumaric acid.
- Shift towards natural ingredients – Consumers are shifting towards natural and clean label ingredients in the food and beverage industry. Fumaric acids are naturally found in fruits and vegetables and can replace synthetic acidulants. The demand for fumaric acids is rising since the demand for natural and healthier products grows.
Report Features
This report provides critical insights into the market dynamics and enables strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
· Market structure: Overview, industry life cycle analysis, supply chain analysis.
· Market environment analysis: Growth drivers and constraints
· Market segment trend and forecast
· Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
· Attractive market segments and associated growth opportunities
· Key success factors
This report studies the Fumaric Acid Market and has segmented the market in few ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the ways in which the market is segmented.
Based on the application type, the market is segmented as food and beverage processing, rosin paper sizing, unsaturated polyester resin, alkyd resin, personal care & cosmetics, and others. The food and beverage processing segment is likely to dominate the market, as fumaric acid is the majorly used food additive for keeping processed food stable. Also, this additive decreases the pH value with minimum additional sourness.
In terms of regions, Asia-Pacific is estimated to be the largest as well as the fastest-growing market for the fumaric acid market during the forecast period, driven by China. Also, the high demand for packed foods, increasing per-capita income, and growing population to also contribute to the region’s growth over the next five years.
The following are the key players in the Fumaric Acid Market:
- Anmol Chemicals
- Bartek Ingredients Inc.
- ESIM Chemicals
- FUSO CHEMICAL CO. LTD
- Merck KGaA
- Polynt
- Shanghai Changmao Biochemical Engineering Co., Ltd.
- Thirumalai Chemicals Ltd,
- UPC Group
- Yongsan Chemicals Inc.
About Stratview Research-
Stratview Research is a global market intelligence firm having a strong experienced team of industry veterans and research analysts. Stratview Research has been serving multiple clients across a wide array of industries. The services cover a broad spectrum of industries including but not limited to Energy Chemicals, Advanced Materials, Automotive, and Aerospace. At Stratview, we believe in building long term relations with our clients.
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