Global Malic Acid Market is witnessing healthy growth over the last few years mainly due to its use as fruit additive. It is extensively used to enhance flavour in food, beverages, and confectionaries on order top crest distinctive taste experience. Food and beverages has always been the key market for malic acid, and majorly driving global market growth. Massive growth in F&B industry itself has resulted in strong demand for malic acid over the past few years. Nevertheless, increasing application scope of malic acid in personal care such as anti-ageing products is expected to positively influence market growth over the forecast period.
Asia Pacific region dominated the global malic acid market in 2016. It was the largest region both in terms of value and volume and accounted for 42% of overall market share. Food and beverages industry is on the rise with significant growth in this particular region. This in turn raised demand for malic acid and is considered as key growth driving factor. More importantly, approval of malic acid as GRAS from FDA has further promoted commercialization of food grade products, innovations and R&D spending in this sector. China is the major market in Asia Pacific growing at highest CAGR of 5.89% and is expected to surpass USD 250 million over the forecast period. Apart from China, India and Japan substantially contributed in the regional market growth. Consumers are opting for processed food in this region and the trend is likely to continue over the forecast period. Key players are investing in research and development to innovate new product formulations that can provide growth opportunities in the near future.
North America is the second largest market for malic acid including market such as U.S., Mexico, and Canada. The personal care & cosmetics industry is tipped to exhibit strong growth in countries such as the U.S. and Mexico due to shift in trend towards specialty personal care products. This has encouraged demand for malic acid by contributing in the regional growth. Apart from this, rising trend in consumption of beverages such as ready to drink tea, carbonated drinks, energy drinks, and sports drinks augmented regional demand. Europe exhibited sluggish growth over the last five years due to below average performance of major end-use industries in the region. The region is expected to show positive growth in near future due to introduction of low-calorie beverages in the market. On the other hand, Middle East and Latin America are touted to witness moderate growth over the forecast period. Specifically Latin America, wherein insignificant regulatory issues hampered its consumption in beverages.
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Key players of the global malic acid market are
• Bartek Ingredients Inc.(Canada),
• Changmao Biochemical Engineering Company Limited (China),
• Fuso Chemical Co., Ltd. (“Fuso”) (Japan),
• Isegen South Africa (Pty) Ltd (South Africa),
• Polynt S.p.A (Italy),
• Thirumalai Chemicals Ltd. (TCL)(India),
• Anhui Sealong Biotechnology Co. Ltd. (China)
The global malic acid market is majorly segmented on the basis of type, end use and region. Market segmentation based on types of malic acid includes L-malic acid, DL-malic acid, and D (+)-malic acid. Wherein, L-malic acid is the largest used type of malic acid and occupied majority of the market share. As compared to other type, L-malic acid is naturally derived and is used in the production of healthy juices, jellies, candies, supplement and skin care products. DL-malic acid is expected to witness fastest growing segment with a CAGR of 4.85% during forecast period of 2017 to 2023.
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Table of Content
1 Report Prologue
2 Market Introduction
2.1 Market Definition 13
2.2 Scope Of The Study 13
2.2.1 Research Objectives 13
2.2.2 Assumptions 14
2.2.3 Limitations 14
2.3 Markets Structure 14
3 Research Methodology
3.1 Research Process 15
3.2 Primary Research 16
3.3 Secondary Research 16
3.4 Market Size Estimation 16
3.5 Forecast Model 18
4 Market Dynamics
4.1 Introduction 19
List of Tables
Table 1 Market Drivers: Impact Analysis 21
Table 2 Restraint: Impact Analysis 24
Table 3 Opportunity: Impact Analysis 25
Table 4 Trends: Impact Analysis 26
Table 5 Global Malic Acid Market, By Type, (2015-2023) (Usd Million) 32
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