Global Fumaric Acid Market Report 2020: Industry Analysis, Size, Price Trends, Growth and Forecast till 2025

According to IMARC Group’s latest report, titled “Fumaric Acid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, finds that the global fumaric acid market size reached US$ 661 Million in 2019. Looking forward, the market volume is projected to reach 2.9 Million Metric Tons by 2025, expanding at a CAGR of 4.8% during 2020-2025.

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Fumaric acid is a weak organic acid with the chemical formula C4H4O4 or COOH-CH=CHCOOH. It is a precursor to other acids, like L-aspartic and L-malic acid, and is formed by the oxidation of succinic acid by succinate dehydrogenase. Fumaric acid is found in eukaryotes, bolete mushrooms, lichens and Iceland moss in the form of a fine white or colorless crystalline powder. It is also produced by the human body when the skin is exposed to direct sunlight. In recent years, the demand for fumaric acid has escalated as it forms an essential component in the production of industrial dyes, medicines, printing inks, animal feed and polyester resins.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Global Fumaric Acid Market Trends:

The utilization of fumaric acid in the food and beverage industry as an acidulant, preservative, flavor enhancer and pH controller represents the primary factor bolstering the market growth. The hydrophobic nature of fumaric acid results in persistent, long-lasting sourness and flavor impact when used as a food additive. The mounting sales of convenience foods and the rising popularity of ready-to-drink beverages have also catalyzed the product demand. Besides this, the increasing prevalence of lifestyle diseases, coupled with the growing health consciousness among consumers, has augmented the consumption of sports and health drinks that contain fumaric acid. Apart from this, this acid is being employed in the construction sector to manufacture unsaturated polyester resins that are further used in the production of auto parts and reinforcement panels. Furthermore, with the need to develop new processes based on renewable sources, manufacturers have produced bio-based fumaric acid. On account of these factors, the market is expected to witness moderate growth during 2020-2025.

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