Global Malic Acid Market to Reach 103 Kilotons by 2024, Impelled by Increasing Demand from Food and Beverage Industry

Over the past few years, the global malic acid market has witnessed steady growth. The growing preference for malic acid among health-conscious consumers along with the implementation of favorable regulations for including natural food ingredients in various countries is driving the market growth.

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According to the latest report by IMARC Group, titled “Malic Acid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global malic acid market reached a volume of more than 81 Kilotons in 2018. Malic acid is a dicarboxylic organic compound with the molecular formula C4H6O5. It is a white crystal or crystalline powder which is soluble in water and ethanol. It is synthesized in all living organisms and offers a pleasant, sour taste to fruits like apples, grapes, apricots, blackberries, peaches, pears, strawberries and mangoes. Since this acid effectively absorbs moisture and has antimicrobial properties, it is used to increase the shelf life of packaged food and bakery items. It is also utilized as a preservative, an acidulant for pH control and food additive for flavor enhancement. Apart from food and beverage applications, it is extensively employed across industries like pharmaceutical, soap and detergent as well as cosmetic and personal care.

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Market Trends:

Malic acid offers numerous health benefits such as easing chronic fatigue syndrome, boosting liver health, aiding weight loss and improving hair quality. Growing awareness about these benefits, along with the increasing health consciousness among consumers, is providing thrust to the growth of the market. In addition to this, the acid is widely employed in the production of protein drinks and sugarless baked goods. The rising prevalence of obesity and diabetes worldwide is influencing the sales of these products. Moreover, favorable regulations by governments of several countries and regulatory authorities are expected to drive the malic acid industry. For instance, EPA regulations regarding the production and consumption of natural ingredients are boosting the sales of products which contain malic acid in Europe. On account of these factors, the global market is anticipated to reach a volume of almost 103 Kilotons by 2024, exhibiting a CAGR of around 4% during the forecast period (2019-2024).

Market Segmentation:

Market Breakup by Product:

1. L-Malic Acid

2. D-Malic Acid

3. DL-Malic Acid

On the basis of products, the market has been categorized into L-malic acid, D-malic acid and DL-malic acid. Currently, DL-malic acid is the most popular product type, dominating the total market share.

Market Breakup by Application:

1. Beverages

2. Confectionery and Food

3. Personal Care

4. Others

Based on applications, the market has been divided into beverages, confectionery and food, personal care, and others. Amongst these, malic acid is mostly used in beverages since it is a preferred acidulent in the industry.

Market Breakup by Region:

1. Asia Pacific

2. North America

3. Europe

4. Middle East and Africa

5. Latin America

On the geographical front, Asia Pacific holds the leading position in the global market. Rising consumption of food across the region, owing to the growing population and inflating income levels, is fueling the demand for malic acid. Other major regions include Middle East and Africa, North America, Latin America, and Europe.

Competitive Landscape:

The competitive landscape of the market has also been analyzed with some of the key players being Changmao Biochem, Bartek, Thirumalai Chemicals, Fuso Chemical Co., Ltd., Polynt, Anhui Sealong Biotechnology, Miles Chemical, Isegen South Africa, Yongsan Chemicals, Spectrum Chemical, The Chemical Company, Mitsubishi Chemical, Corbion, Mubychem Group and Tate & Lyle.

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This release was published on openPR.