Soaring demand of malic acid from food and beverage owing to excellent food additive is driving the market growth. Rising disposable income, changing food consumption habits, fast-paced lifestyle and increasing working women population is spurring the market demand in processed food products. Gaining popularity of the product owing to substitute to antibiotics in animal feed is contributing in the market growth. Increasing demand from skin care products owing to excellent exfoliating properties is further supporting the market growth.
The latest report by Value Market Research expects the Global Malic Acid Market to reach USD 256.0 million by 2025. It was valued USD 178.9 million in 2018. The report foresees a 5.3% CAGR from 2019 to 2025.
L-MALIC DOMINATED THE PRODUCT SEGMENT
In 2018, L-malic emerged as the leading product segment and has accounted maximum market share. Increasing usage in food and beverages, nutritional supplements, personal care products is driving the segment growth.
FOOD AND BEVERAGE LED THE APPLICATION SEGMENT
Robust demand from non-carbonated drinks, wine, confectionaries, chewing gums, and bakery products to impart natural fruit flavor is driving the segment growth. Increasing uptake of protein bars, nutritional shakes and other supplements is also boosting the segment growth.
ASIA PACIFIC EMERGED AS THE LEADING REGIONAL MARKET
In 2018, Asia Pacific dominated the regional market by accounting the highest market share. Rising disposable income, growing population, robust urbanization, changing eating habits are driving the regional market growth. Booming food and beverage industry especially in India, China and Malaysia is further boosting the demand of malic acid in Asia Pacific.
KEY PLAYERS OF THE MARKET
Major players of the market are Bartek, Changmao Biochmical Engineering, Fuso Chemicals, Isegen, Jinhu Lile Biotechnology, MC Food Specialties, Polynt, Sealong Biotechnology, Tate & Lyle, Thirumalai Chemicals, and Yongson Chemicals.
As per this study the Global Malic Acid Market was valued USD XXX.X MN (by revenue) in 2019 and is anticipated to reach USD XXX.X MN by 2026 with a CAGR of X.X%. By volume, the market was estimated XXX KT in 2019 and is expected to reach XXX KT by 2026 with a CAGR of X.X%.
Malic acid is a dicarbolic acid and is found naturally in various fruits, consumption of malic acid supplements helps to improve health, and treat various diseases. The esters and salts of malic acid are called malates. The product is mainly used as a food additive to enhance the flavors such as sourness or tartness. Owing to its antimicrobial properties and pH maintaining ability, it is mainly used as a preservative in packaged food items to increase their shelf life.
Rising demand from the food and beverage industry where it is used as a preservative is likely to support market growth. Also, the product is replacing antibiotics in animal feed which is again expected to raise the market growth. Changing lifestyle, rising working women population, along with the growing trend of ready-to-eat food is further expected to propel the market growth. Penetration of new products such as nutritional bars and protein drinks is also expected to fuel the demand of the product. On the other hand, rising use of the substitute product like citric acid across the food and beverage industry is likely to hamper the market growth.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of malic acid.
The broad malic acid market has been sub-grouped into product and application. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
- L-Malic Acid
- D-Malic Acid
- DL-Malic Acid
- Food & Beverage
Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for malic acid in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Europe Malic Acid Market By Revenue (USD MN)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the malic acid market include Bartek, Changmao Biochmical Engineering, Fuso Chemicals, Isegen, Jinhu Lile Biotechnology, MC Food Specialties, Polynt, Sealong Biotechnology, Tate & Lyle, Thirumalai Chemicals, Yongson Chemicals, and others. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
A combination of primary and secondary research has been used to determine the market estimates and forecasts. Sources used for secondary research include (but not limited to) Paid Data Sources, Company Websites, Technical Journals, Annual Reports, SEC Filings and various other industry publications. Specific details on methodology used for this report can be provided on demand.