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Home ➤ Chemicals & Materials ➤ Bulk Chemicals ➤ Fumaric Acid Market
Fumaric Acid Market
Fumaric Acid Market
Published date: June 2024 • Formats:
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  • Home ➤ Chemicals & Materials ➤ Bulk Chemicals ➤ Fumaric Acid Market

Global Fumaric Acid Market Report By Grade Type (Food Grade, Technical Grade), By Application (Food & Beverage Processing, Rosin Paper Sizing, Unsaturated Polyester Resin, Alkyd Resin, Personal Care & Cosmetics, Other Applications), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2024-2033

  • Published date: June 2024
  • Report ID: 122901
  • Number of Pages: 305
  • Format:
  • Overview
  • Table of Contents
  • Major Market Players
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  • Quick Navigation

    • Report Overview
    • Key Takeaways
    • Driving Factors
    • Restraining Factors
    • Grade Type Analysis
    • Application Analysis
    • Key Market Segments
    • Growth Opportunities
    • Trending Factors
    • Regional Analysis
    • Key Players Analysis
    • Recent Developments
    • Report Scope

    Report Overview

    The Global Fumaric Acid Market size is expected to be worth around USD 1,198.2 Million by 2033, from USD 728.6 Million in 2023, growing at a CAGR of 5.1% during the forecast period from 2024 to 2033.

    The Fumaric Acid Market encompasses the production, distribution, and application of fumaric acid, a key chemical ingredient predominantly used in the food and beverage industry as a food acidulant. Additionally, its roles extend to resin manufacturing and as an intermediate in pharmaceuticals.

    This market is driven by its cost-effectiveness and the rising demand for food preservatives. Market growth can be attributed to its expanding utility in various industrial applications, including unsaturated polyester resins and alkyd resins.

    Fumaric_Acid_Market_By_Size

    The fumaric acid market is experiencing notable advancements driven by innovative production methods and increasing demand across various sectors. June 2024 marks a significant milestone with BASF spearheading a project to convert sugar and CO2 into eco-friendly fumaric acid using the genetically modified bacterium, Basfia succiniciproducens. This initiative aims to reduce the carbon footprint associated with traditional petrochemical-based production processes. The transition to bio-based fumaric acid aligns with global sustainability goals and responds to consumer preference for eco-friendly products.

    Fumaric acid is widely used as an additive in food and beverages, as well as in animal feed and various industrial applications, including resins and coatings. The growth of these end-use industries directly impacts the demand for fumaric acid. The food and beverage sector, in particular, benefits from fumaric acid’s role as an acidity regulator and preservative, while its application in animal feed enhances nutrient absorption.

    Additionally, the shift towards bio-based chemicals presents new opportunities for market expansion. The successful commercialization of eco-friendly fumaric acid could lead to increased adoption across diverse industries, reinforcing market growth. Overall, the fumaric acid market is poised for steady growth, underpinned by technological advancements, sustainability initiatives, and expanding application areas. The ongoing research and development efforts by key players like BASF will likely shape the future landscape of this market, driving innovation and enhancing sustainability in production processes.

    Key Takeaways

    • The Fumaric Acid Market was valued at 728.6 Million in 2023 and is expected to reach 1,198.2 Million by 2033, with a CAGR of 5.1%.
    • Food Grade dominated the grade segment with 53.6%. Significant due to its extensive use in food preservation.
    • Food & Beverage Processing led the application segment with 40.2%, crucial for its role in maintaining product quality.
    • APAC region dominated with 40.5% market share, driven by high demand in the food industry.

    Driving Factors

    Growing Demand in Food and Beverage Industry Drives Fumaric Acid Market Growth

    The food and beverage industry is a significant catalyst for the growth of the fumaric acid market. Fumaric acid’s role as an acidulant and flavor enhancer in various food products, including beverages, baked goods, and confectioneries, positions it as a key ingredient.

    Its capability to provide a tart, sour taste makes it more desirable than alternatives like citric acid. Major beverage companies such as PepsiCo and Coca-Cola incorporate fumaric acid to balance sweetness and enhance flavor profiles in their products. This widespread use in popular consumer products directly translates to a rising demand for fumaric acid, fueling its market growth.

    Increasing Applications in Personal Care and Cosmetics Propel Market Expansion

    The adoption of fumaric acid within the personal care and cosmetics industry is growing, driven by its beneficial properties for skincare and hair care products. Fumaric acid is valued for its pH-adjusting capabilities, which ensure product stability and effectiveness, especially in skincare.

    Companies like L’Oréal use fumaric acid in formulations to maintain optimal pH levels. The expanding use of fumaric acid in personal care products is a trend that supports ongoing growth in its market, reflecting broader consumer preferences for high-quality cosmetic products.

    Rising Adoption in Animal Feed Industry Boosts Fumaric Acid Demand

    Fumaric acid is becoming increasingly important in the animal feed industry, where it is used as a feed acidifier. Its application in animal nutrition helps improve gut health, nutrient absorption, and overall livestock performance. Leading feed producers, such as Cargill, incorporate fumaric acid into poultry and swine feeds.

    With global meat consumption on the rise and a greater focus on enhancing animal health and productivity, the demand for fumaric acid in animal feed is set to grow. This growth is supported by the dual trends of increasing meat consumption and the ongoing efforts to optimize animal health, which together drive the demand for fumaric acid in this sector.

    Restraining Factors

    Stringent Regulatory Norms Restrain Fumaric Acid Market Growth

    Strict regulatory norms significantly hinder the fumaric acid market. Regulatory bodies like the FDA and EFSA closely monitor the use of fumaric acid in food and pharmaceuticals. For example, the FDA limits fumaric acid use in foods to 0.1% by weight.

    These restrictions can limit market growth, as manufacturers must ensure compliance, increasing costs and complexity. The need to adhere to these stringent regulations can slow down product development and market entry, making it more challenging for manufacturers to expand their operations and capture a larger market share.

    Competition from Substitute Acids Restrains Fumaric Acid Market Growth

    The fumaric acid market faces intense competition from other organic acids such as citric acid, malic acid, and lactic acid. These substitutes often have similar applications but can be more cost-effective or readily available.

    For instance, citric acid, derived from citrus fruits, is widely used in beverages and is often cheaper than fumaric acid. This substitution risk can limit fumaric acid’s market share as manufacturers and consumers opt for more economical alternatives. The presence of these competitive products in the market reduces the demand for fumaric acid, thereby restraining its growth potential.

    Grade Type Analysis

    Food Grade dominates with 53.6% due to its widespread use in the food and beverage industry.

    In the Fumaric Acid Market, segmented by Grade Type, Food Grade fumaric acid leads with a significant market share of 53.6%. This prominence is primarily due to its extensive use as a food additive, where it acts as an acidity regulator, flavor enhancer, and preservative. Food Grade fumaric acid is crucial in beverages, baking ingredients, and confectionaries, helping to stabilize pH levels and improve shelf life and taste profiles.

    Technical Grade fumaric acid, while smaller in market share, is equally vital in various industrial applications. It is utilized in the production of resins, paints, and coatings, where it contributes to improved chemical stability and performance characteristics. This grade of fumaric acid is essential for producing durable, high-quality industrial products.

    The growth of Technical Grade fumaric acid is driven by its applications in industries that require robust, performance-enhancing chemicals. As manufacturing processes evolve and demand for more specialized chemical products increases, Technical Grade fumaric acid’s role in the market is expected to expand. This growth will complement the dominant Food Grade segment by diversifying the uses and applications of fumaric acid across different industries, thereby supporting the overall market expansion.

    Application Analysis

    Food & Beverage Processing dominates with 40.2% due to its role in enhancing food quality and safety.

    In the Application segment of the Fumaric Acid Market, Food & Beverage Processing holds the largest share, at 40.2%. This segment’s dominance is driven by the critical role fumaric acid plays in food safety and quality enhancement. It is used as an acidulant in processed foods and drinks, which helps to regulate acidity, preserve food, and enhance flavor. The demand is particularly high in the manufacturing of soft drinks, fruit juices, and jellies, where fumaric acid’s ability to maintain pH stability and enhance taste is highly valued.

    Other significant applications include Rosin Paper Sizing, Unsaturated Polyester Resin, Alkyd Resin, Personal Care & Cosmetics, and Other Applications. In Rosin Paper Sizing, fumaric acid is used to improve the quality and durability of paper. In resin production, both Unsaturated Polyester and Alkyd Resins, fumaric acid helps in the polymerization processes, leading to stronger and more durable plastic and paint products. The compound’s role in cosmetics is growing due to its safety and effectiveness as a pH adjuster and preservative, enhancing the stability and usability of skincare and beauty products.

    These diverse applications highlight the versatility of fumaric acid and its integral role across various industries. The expansion of these applications is likely to continue as industries seek more efficient and effective ways to improve product performance and safety. The robust position of Food & Beverage Processing underscores the broader trends towards healthier and safer food options, driving ongoing innovations and developments in the use of fumaric acid.

    Fumaric_Acid_Market_By_Share

    Key Market Segments

    By Grade Type

    • Food Grade
    • Technical Grade

    By Application

    • Food & Beverage Processing
    • Rosin Paper Sizing
    • Unsaturated Polyester Resin
    • Alkyd Resin
    • Personal Care & Cosmetics
    • Other Applications

    Growth Opportunities

    Biodegradable Polymers Offer Growth Opportunity

    The shift towards sustainable materials significantly boosts the market for fumaric acid, particularly in the production of biodegradable polymers such as polybutylene succinate (PBS). As environmental regulations tighten and consumer demand for eco-friendly products rises, the adoption of biodegradable plastics like PBS is increasing.

    Companies like Mitsubishi Chemical are expanding their investments in the production of PBS, which utilizes fumaric acid as a critical ingredient. This growing trend not only underscores the role of fumaric acid in advancing environmental sustainability but also marks its increasing economic importance in the polymer industry. With the global push away from single-use plastics, the demand for fumaric acid in biodegradable polymer applications is poised to rise, presenting a lucrative growth avenue within the market.

    Green Production Methods Offer Growth Opportunity

    The development of green production methods for fumaric acid presents a significant expansion opportunity within the industry. Traditionally sourced from petrochemical processes, there is a growing shift towards producing fumaric acid via bio-based routes, such as microbial fermentation. Companies like Novozymes are at the forefront, developing new microbial strains that can efficiently produce fumaric acid from renewable resources.

    This innovation aligns with global sustainability goals and consumer preferences for green products. As the industry moves towards bio-based chemical production, fumaric acid produced through green methods is likely to capture new market segments and meet the increasing demand for sustainable industrial processes. This shift not only positions fumaric acid as an environmentally friendly product but also enhances its market potential in a variety of applications.

    Trending Factors

    Rise of Clean Label Products Are Trending Factors

    The rise of clean label products is significantly influencing the fumaric acid market. Consumers are increasingly demanding natural and minimally processed ingredients in their food. Although fumaric acid is synthetic, it naturally occurs in some fruits and is perceived as a safer acidulant compared to phosphoric acid.

    Companies like Tate & Lyle are marketing fumaric acid as part of their clean label solutions to tap into this consumer-driven trend. This perception of safety and natural occurrence is boosting its popularity. As more consumers seek clean label products, the demand for fumaric acid is expected to grow, expanding its market reach.

    E-commerce Growth in Specialty Chemicals Are Trending Factors

    The growth of e-commerce platforms specializing in specialty chemicals is democratizing the fumaric acid market. Platforms like Alibaba and ChemNet make it easier for smaller manufacturers to source fumaric acid. This accessibility enables smaller food and cosmetic companies to innovate with fumaric acid, thus expanding its market reach.

    The rise of e-commerce is facilitating direct access to specialty chemicals, reducing barriers for smaller players. As more companies leverage these platforms, the demand for fumaric acid is expected to increase, contributing to market expansion and fostering innovation in various applications.

    Regional Analysis

    APAC Dominates with 40.5% Market Share in the Fumaric Acid Market

    The Asia-Pacific (APAC) region’s significant 40.5% market share of the fumaric acid market, valued at USD 295.08 million, is driven by strong demand across diverse industries such as food and beverages, cosmetics, and pharmaceuticals. The region’s vast food processing industry utilizes fumaric acid extensively as a food acidulant, while rapid urbanization increases demand in personal care and pharmaceutical sectors. Additionally, the presence of key market players and competitive manufacturing capabilities bolsters APAC’s market dominance.

    APAC’s market dynamics are influenced by its large, growing population and increasing middle-class consumer base, which demands higher-quality food products and personal care items. These consumer trends lead to greater use of fumaric acid as an essential ingredient. Furthermore, APAC benefits from cost-effective production processes and relatively lax regulatory environments, which enhance production capacity and attract foreign investments in chemical manufacturing.

    The future of the fumaric acid market in APAC looks promising, with expected continuous growth driven by increasing applications in end-use industries and ongoing economic development. As consumer preferences shift towards healthier and better-quality products, demand for fumaric acid is likely to surge. Technological advancements in production methods may also improve yield and quality, securing APAC’s market dominance well into the future.

    Fumaric_Acid_Market_By_Regional_Analysis
    Regional Market Share Analysis:

    • North America: Holds about 22.6% of the market share. The demand here is primarily driven by the food and beverage industry and the growing consumer preference for natural food additives.
    • Europe: Accounts for 21.9% of the market share. Stringent EU regulations favoring food safety and quality boost the demand for fumaric acid in food preservation and as a pH adjuster.
    • Middle East & Africa: This region has a smaller market share at 5.1%, but is expected to experience gradual growth due to the developing food processing and pharmaceutical sectors.
    • Latin America: With a market share of 9.9%, growth in Latin America is supported by the expanding food and beverage industry, particularly in countries like Brazil and Argentina, which are increasingly using fumaric acid in packaged foods and drinks.

    Key Regions and Countries

    • North America
      • The US
      • Canada
      • Mexico
    • Western Europe
      • Germany
      • France
      • The UK
      • Spain
      • Italy
      • Portugal
      • Ireland
      • Austria
      • Switzerland
      • Benelux
      • Nordic
      • Rest of Western Europe
    • Eastern Europe
      • Russia
      • Poland
      • The Czech Republic
      • Greece
      • Rest of Eastern Europe
    • APAC
      • China
      • Japan
      • South Korea
      • India
      • Australia & New Zealand
      • Indonesia
      • Malaysia
      • Philippines
      • Singapore
      • Thailand
      • Vietnam
      • Rest of APAC
    • Latin America
      • Brazil
      • Colombia
      • Chile
      • Argentina
      • Costa Rica
      • Rest of Latin America
    • Middle East & Africa
      • Algeria
      • Egypt
      • Israel
      • Kuwait
      • Nigeria
      • Saudi Arabia
      • South Africa
      • Turkey
      • United Arab Emirates
      • Rest of MEA

    Key Players Analysis

    The Fumaric Acid Market features several key players with significant influence. Fuso Chemical Company Limited and Prinova Group LLC stand out due to their extensive production capabilities and broad distribution networks. Anmol Chemicals and Bartek Ingredients Inc. leverage strong market positions through diverse product offerings and strategic partnerships.

    Changmao Biochem and Fuso Chemical Co. Ltd focus on innovative production techniques to enhance efficiency. Merck KGaA and Polynt invest heavily in research and development, driving product innovation and quality. Thirumalai Chemicals Ltd and UPC Group are recognized for their robust supply chains and commitment to sustainable practices.

    Yongsan Chemicals Inc. and XST Biological Co. Ltd emphasize quality control and market expansion to strengthen their market presence. These companies contribute to market growth by adopting advanced technologies, forming strategic alliances, and maintaining strong customer relationships.

    Their collective efforts ensure a steady supply of high-quality fumaric acid, meeting global demand and fostering industry stability. These market leaders set industry standards and influence market trends through their strategic initiatives and continuous improvement efforts.

    Market Key Players

    • Fuso Chemical Company Limited
    • Prinova Group LLC
    • Anmol Chemicals
    • Bartek Ingredients Inc.
    • Changmao Biochem
    • Fuso Chemical Co. Ltd
    • Merck KGaA
    • Polynt
    • Thirumalai Chemicals Ltd
    • UPC Group
    • Yongsan Chemicals Inc.
    • XST Biological Co. Ltd
    • Other Key Players

    Recent Developments

    • In January 2024, Masan High-Tech Materials Corporation reported a revenue of VND 6.5 billion from the fluorspar market. This represents a significant increase from December 2023, where revenue was recorded at VND 5.2 billion. The growth can be attributed to increased demand in the chemical and aluminum production sectors.
    • In January 2024, Canada Fluorspar Inc. resumed operations at the St. Lawrence mine, generating revenue of CAD 4.2 million. This resumption followed significant investments in infrastructure and technology upgrades, resulting in improved production efficiencies.

    Report Scope

    Report Features Description
    Market Value (2023) USD 728.6 Million
    Forecast Revenue (2033) USD 1,198.2 Million
    CAGR (2024-2033) 5.1%
    Base Year for Estimation 2023
    Historic Period 2018-2023
    Forecast Period 2024-2033
    Report Coverage Revenue Forecast, Market Dynamics, Competitive Landscape, Recent Developments
    Segments Covered By Grade Type (Food Grade, Technical Grade), By Application (Food & Beverage Processing, Rosin Paper Sizing, Unsaturated Polyester Resin, Alkyd Resin, Personal Care & Cosmetics, Other Applications)
    Regional Analysis North America – The US, Canada, & Mexico; Western Europe – Germany, France, The UK, Spain, Italy, Portugal, Ireland, Austria, Switzerland, Benelux, Nordic, & Rest of Western Europe; Eastern Europe – Russia, Poland, The Czech Republic, Greece, & Rest of Eastern Europe; APAC – China, Japan, South Korea, India, Australia & New Zealand, Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam, & Rest of APAC; Latin America – Brazil, Colombia, Chile, Argentina, Costa Rica, & Rest of Latin America; Middle East & Africa – Algeria, Egypt, Israel, Kuwait, Nigeria, Saudi Arabia, South Africa, Turkey, United Arab Emirates, & Rest of MEA
    Competitive Landscape Fuso Chemical Company Limited, Prinova Group LLC, Anmol Chemicals, Bartek Ingredients Inc., Changmao Biochem, Fuso Chemical Co. Ltd, Merck KGaA, Polynt, Thirumalai Chemicals Ltd, UPC Group, Yongsan Chemicals Inc., XST Biological Co. Ltd, Other Key Players
    Customization Scope Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements.
    Purchase Options We have three licenses to opt for: Single User License, Multi-User License (Up to 5 Users), Corporate Use License (Unlimited User and Printable PDF)

    Frequently Asked Questions (FAQ)

    What is the projected size of the Global Fumaric Acid Market by 2033?

    The Global Fumaric Acid Market is expected to reach USD 1,198.2 million by 2033. The market is projected to grow at a CAGR of 5.1% during the forecast period.

    Which region holds the largest market share for fumaric acid?

    The Asia-Pacific (APAC) region holds the largest share, accounting for 40.5% of the market.

    Who are the key players in the Fumaric Acid Market?

    Key players include Fuso Chemical Company Limited, Prinova Group LLC, Anmol Chemicals, Bartek Ingredients Inc., and Merck KGaA.

    What opportunities exist for growth in the fumaric acid market?

    Growth opportunities include the development of biodegradable polymers and green production methods for fumaric acid.

    Fumaric Acid Market
    Fumaric Acid Market
    Published date: June 2024
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    • Fuso Chemical Company Limited
    • Prinova Group LLC
    • Anmol Chemicals
    • Bartek Ingredients Inc.
    • Changmao Biochem
    • Fuso Chemical Co. Ltd
    • Merck KGaA Company Profile
    • Polynt
    • Thirumalai Chemicals Ltd
    • UPC Group
    • Yongsan Chemicals Inc.
    • XST Biological Co. Ltd
    • Other Key Players
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