Malic Acid Market : Key Players, Growth, Analysis by 2015 - 2021
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Malic acid imparts a very pleasant flavour when added in the food and beverages. Hence, it finds the largest application in the food and beverage industry where it is used in carbonated beverages, bakery products, desserts, fruit juices, frozen specialities and sports drinks. The growing consumption of the protein drinks and fruit flavoured drinks is witnessing the highest demand in the malic acid market. However, the global malic acid market is expected to showcase a moderate single-digit growth in the forecast period.
The growing demand for the added flavours from the food and beverage industry is expected to fuel the malic acid market. The use of malic acid as a preservative is increasing due to the embracement of convenience food products such as ready to drink beverages and the processed foods, thus driving the malic acid market. The growing demand for personal care products is anticipated to be a major demand driver for the malic acid market. The shift of trend to bio based products is expected to fuel bio-based malic acid market. Also, the growth in the construction industry due to the rapid urbanization in the developing countries is expected to fuel the malic acid market. Stringent government regulations pertaining to its use in the food and beverages is expected to restrain the global malic acid market.
Food and beverages application accounts for the largest market share according to consumption of malic acid. The global malic acid market can be broadly classified based on geography into seven key segments as North America, Latin America, Western Europe, Eastern Europe, Japan, Asia – Pacific and Middle East and Africa. Asia pacific accounts for the largest consumption of malic acid. India, China and Indonesia are expected to be the most promising countries in the malic acid market because of the rapid urbanization which in turn boost the food and beverage industry. The United States also witnesses a growing demand for malic acid followed by Europe and Japan. The growing disposal income in the developing countries is boosting the demand for the convenience products, thus helping the malic acid market grow.
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Thirumalai chemicals Ltd., Novozymes, Polynt, FUSO Chemical Co. Ltd, Bartek ingredients Inc.,;
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