Fumaric Acid Market Forecast CAGR of 6.8% Predicted for 2023-2033 with a US$ 969.0 Million

In 2023, the fumaric acid market (フマル酸市場) reached a value of US$ 501.9 million, with projections indicating a growth at a CAGR of 6.8% to attain US$ 969.0 million by 2033. Fumaric acid, a key component in various industries including food and beverage, pharmaceuticals, and chemicals, is witnessing a steady rise in demand due to its versatile applications. The growth of the fumaric acid market is primarily driven by the increasing demand for convenience foods, rising health consciousness among consumers, and the expanding pharmaceutical sector.

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In the food and beverage industry, fumaric acid is widely used as an acidulant, flavor enhancer, and preservative. Its ability to improve the texture and extend the shelf life of food products makes it a preferred choice for manufacturers. Moreover, the growing popularity of processed and convenience foods is further fueling the demand for fumaric acid globally.

The pharmaceutical sector is also a significant consumer of fumaric acid, where it is utilized in the production of medicines, particularly in the formulation of oral medications. With the rising prevalence of various health conditions and the increasing emphasis on preventive healthcare, the pharmaceutical industry is expected to drive substantial demand for fumaric acid in the coming years.

Furthermore, the chemical industry utilizes fumaric acid in the production of various resins, polymers, and alkyd resins. The growing construction and automotive sectors, especially in emerging economies, are anticipated to contribute to the increasing demand for fumaric acid in chemical applications.

Key Players

Bartek Ingredients
Thirumalai Chemicals
Polynt S.P.A
Nippon Shokubai Co. Ltd.
Tianjin Bohai Chemicals
The Chemical Company
Wego Chemical Group

Market Future Outlook:

The fumaric acid market (푸마르산 시장) is poised for significant growth in the foreseeable future. Factors such as the expansion of the food and beverage industry, advancements in pharmaceutical formulations, and the increasing adoption of sustainable chemicals are expected to drive market growth.

Additionally, the growing trend towards clean-label and natural ingredients in food products is likely to create opportunities for fumaric acid manufacturers, as it is considered a natural acidulant derived from sources such as fruits and vegetables.

Moreover, ongoing research and development activities aimed at enhancing the properties and applications of fumaric acid are expected to further propel market growth.

Competitive Landscape:

Leading players in the fumaric acid market are prioritizing the enhancement of their production capacity to meet the increasing demand across various industries and to ensure the production of high-quality fumaric acid.

For example, in April 2022, Bartek Ingredients made a significant investment of US$ 160.0 million in constructing the world's largest malic and food-grade fumaric acid production plant. This strategic move is aimed at reinforcing Bartek Ingredient's global presence and expanding its customer reach.

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Segmentation of Fumaric Acid Industry (Markt für Fumarsäure) Research

By Extraction Type :

Fumaria Officinalis

Maleic Anhydride

Fermentation

By Application :

Food Additives

Rosin Paper

Unsaturated Polyester Resins (UPR)

Alkyd Resins

Animal Feed

Others

By End-Use Industry :

Food & Beverage

Cosmetics

Pharmaceutical

Chemical

By Region :

North America

Latin America

Europe

East Asia

South Asia & Oceania

MEA

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This release was published on openPR.