Malic Acid Market Expected to Rise at 4% CAGR during 2019-2024

According to the latest report by IMARC Group titled, "Malic Acid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024", the market reached a volume of 81.2 Kilotons in 2017. Looking forward, the market is expected to reach a volume of 102.8 Kilotons Billion by 2024, exhibiting a CAGR of around 4% during the next five year.

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Malic acid (C4H6O5) is a colorless, crystalline, and water-soluble organic compound that is naturally produced by living organisms during metabolism. It imparts a sour or tart taste to fruits, including grapes, pears, plums, mangoes, blackberries, apples, and apricots. In the human body, it offers muscle improvement, energy production, detoxification, and fatigue resistance. Owing to this, malic acid is widely utilized for preparing nutritional food products, sports drinks, frozen foods, and bakery and confectionary items. It also helps in flavor enhancement, maintaining pH levels, and controlling microbial growth in food items and beverages. Other than this, it is used across diverse sectors, including pharmaceutical, cosmetics, and personal care, among others.

The rising health consciousness, coupled with the improving living standards of consumers, has augmented the demand for malic acid for the preparation of protein drinks, nutrition bars, and other functional food items. The thriving beverage industry represents another major end user of malic acid, wherein the compound is used for producing carbonated and non-carbonated drinks, including alcoholic ciders and flavored drinks, and for artificial flavoring in powdered beverages. In addition to this, the changing consumer preferences and eating habits have further spurred the product demand in the manufacturing of processed foods, and hard candies and other confectionary items. Moreover, the growing environmental concerns have resulted in an escalating utilization of malic acid in the production of biomass feedstock, replacing the conventional petroleum-based raw materials, which in turn is catalyzing the growth of the market.

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Key Market Segmentation:

Breakup by Product

o L-Malic Acid
o D-Malic Acid
o DL-Malic Acid

Breakup by Type of Application

o Beverages
o Confectionery and Food
o Personal Care
o Others

Breakup by Region

o Asia Pacific
o North America
o Europe
o Middle East and Africa
o Latin America

Competitive Landscape

The report has also examined the competitive landscape of global malic acid market. Some of the major players in the market are Changmao Biochem, Bartek, Thirumalai Chemicals, Fuso Chemical Co., Ltd, Polynt, Yongsan Chemicals, Anhui Sealong Biotechnology, The Chemical Company, Miles Chemical, Isegen South Africa, Spectrum Chemical, Mitsubishi Chemical, Corbion, Mubychem Group and Tate & Lyle.

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