The global malic acid market size is expected to reach USD 257.7 million by 2025, according to a new report by Grand View Research, Inc., registering a 5.0% CAGR during the forecast period. Developing global food and beverage industry, growing demand for bakery and confectionery products, and shift in consumer and product trends in the personal care industry are factors estimated to drive the market during the forecast period.
The average prices of malic acid have been stable over the last few years owing to steady supply and demand regime and this trend is expected to continue through 2025. Furthermore, developing food and beverage processing industries, particularly in emerging countries like China, India, Brazil, and Thailand, is expected to have a positive impact on overall industrial growth over the coming years. Innovations, developments, and increased product applications have led companies to expand their production capacities, a trend that has significantly benefitted the market.
Traditionally, Asia Pacific is estimated to propel the demand for processed food on account of increasing disposable income, globalization, and changing food consumption patterns in the region. Commercialization of natural fruit-flavored drinks, along with shifting consumption patterns, mainly in Asia Pacific and Latin America, are estimated to boost product penetration.
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Further key findings from the report suggest:
• The beverages segment accounted for the largest malic acid market share and is estimated to register a CAGR of 4.6% over the projected period owing to rise in consumption of liquid and powdered beverages
• In North America, the confectionery and food industry segment accounted for almost 41.0% of the total market in 2018 owing to high demand for malic acid in products like processed food and hard candies
• Asia Pacific accounted for 43.8% of total market demand in 2018 and is estimated to grow at a healthy pace over the projected period owing to increasing preference for food acidifiers to enhance the shelf life of products
• Europe is estimated to grow at the fastest pace and is projected to account for 17.4% of the total market volume by 2025 owing to rising demand for food and beverage products and an expanding personal care industry
• Key players such as Bartek, Polynt, Thirumalai Chemicals, and Mitsubishi Chemicals are highly integrated across the value chain, from raw material manufacturing to malic acid derivative manufacturing
Grand View Research has segmented the global malic acid market on the basis of end use and region:
Malic Acid End-use Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
• Beverages
• Confectionery & Food
• Personal Care & Cosmetics
• Others
Malic Acid Regional Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
• North America
o U.S.
o Canada
o Mexico
• Europe
o France
o U.K.
o Germany
o Spain
o Italy
• Asia Pacific
o China
o Japan
o India
o South Korea
o Australia
• Central & South America
o Brazil
• Middle East & Africa
o Saudi Arabia
o South Africa