The global Malic Acid market size accounted for USD 213.1 Million in 2020 and is expected to reach USD 315.1 Million by 2028, growing at a CAGR of around 4.9% between 2021 and 2028.
Malic Acid Market
The Global Malic Acid Market size accounted for USD 213.1 Million in 2020 and is expected to reach USD 315.1 Million by 2028, growing at a CAGR of around 4.9% between 2021 and 2028.
The immense need to halt the expansion of micro-organisms and wide product applications across the food & care sector is forecast to reinforce the expansion of the malic acid market within the years ahead. Aside from this, the receiving of approvals from regulatory authorities including EFSA, FDA, and FSSAI is anticipated to spice up the merchandise demand over the years ahead. Furthermore, the persistent requirement for determining and maintaining pH levels within the product will further succor the progress of the malic acid market in the years to return.
Volatility within the staple costs and rampant use of acid as a substitute product for malic acid, however, is probably going to pose a challenge for the worldwide malic acid market within the near future. Nevertheless, the mammoth use of malic acid in medical also as food & beverages sectors will increase the growing popularity of the merchandise among consumers, thereby normalizing the impact of hindrances on the malic acid market, reports the study.
The global Malic acid market size has witnessed a decrease in sales for overall Malic acid products due to the lockdown enforcement placed by governments to contain COVID spreading. People had no option but to remain indoors, so the consumption of products decreased drastically. The restrictions imposed by various nations to contain COVID had stopped production resulting in disruption across the whole supply chain. Recovery is predicted within the last half of the year, provided there's no emergence of another wave of the epidemic, and countries manage to regulate the spread quickly and resume normalcy.
Rising demand from the food and beverage industry to enhance flavor through specialty ingredients is estimated to drive industrial growth over the forecast period. Players across the malic acid market are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development which will further boost the growth in the global malic acid market size.
|Report Attributes||Report Details|
|Report Name||Global Malic Acid Market Research Survey Report|
|Market Size in 2020||USD 213.1 Million|
|Market Forecast by 2028||USD 315.1 Million|
|Compound Annual Growth Rate||CAGR of 4.9 %|
|Number of Pages||115|
|Forecast Units||Value (USD Million), and Volume (Units)|
|Key Companies Covered||Novozymes, FUSO Chemical Co. Ltd, Bartek Ingredients Inc, Thirumalai Chemicals Ltd, and U.S. Chemicals LLC|
|Segments Covered||By Type, By Application, By Region|
|Regions Covered||North America, Europe, Asia Pacific (APAC), Latin America, Middle East and Africa (MEA)|
|Countries Covered||North America: U.S and Canada
Europe: Germany, Italy, Russia, U.K, Spain, France, Rest of Europe
APAC: China, Australia, Japan, India, South Korea, South East Asia, Rest of Asia Pacific
Latin America: Brazil, Argentina, Chile
The Middle East And Africa: South Africa, GCC, Rest of MEA
|Historical Year||2016 - 2020|
|Customization Scope||Avail customized purchase options to meet your exact research needs. Request For Customization|
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.|
The main types available in the malic acid market are L-malic acid, DL-malic acid, and D-malic acid. Among the three, the demand for L-malic acid is relatively higher and the trend is anticipated to remain so over the next few years, notes the research report.
Based on application, the food & beverages segment comprises both non-carbonated and carbonated beverages, including flavored drinks and alcoholic ciders. The segment accounted for the most important market share and is estimated to exhibit a CAGR of 4% in terms of revenue over the projected period. The segment also dominated the worldwide demand due to the increase in consumption of liquid and powdered beverages, alongside surging demand for artificial flavorants in carbonated drinks.
Geographically, Asia Pacific has been leading the worldwide malic acid market and is anticipated to continue in the dominant position in the years to come. For the record, the region contributed more than 40% towards the overall malic acid market share in 2018. The high presence of the food & beverages industry in countries such as India, China, and Malaysia is the main factor behind the dominance of the Asia Pacific malic acid market. The large number of market players headquartered in the Asia Pacific and the rapidly exploding population base is yet another significant factor that is supporting the growth of the malic acid market in the region.
Some of the major companies comprised in the global Malic Acid market are Novozymes, FUSO Chemical Co. Ltd, Bartek Ingredients Inc., Thirumalai Chemicals Ltd, and U.S. Chemicals LLC are some of the key vendors of malic acid across the world
The global Malic Acid market was valued at USD 213.1 Million in 2020.
The global Malic Acid market is expected to reach USD 315 Million by 2028, growing at a CAGR of 4.9% between 2021 to 2028.
Rising demand from the food and beverage industry to enhance flavor through specialty ingredients is estimated to drive industrial growth over the forecast period.
Asia Pacific was the leading region for the Malic Acid market in 2018 and it added up to more than 42% share of the global Malic Acid market.
Major players of global Malic Acid market comprise Novozymes, FUSO Chemical Co. Ltd, Bartek Ingredients Inc., Thirumalai Chemicals Ltd, and U.S. Chemicals LLC are some of the key vendors of malic acid across the world.
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