Market Size of Fumaric Acid Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR (2024 - 2029) | 3.95 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Fumaric Acid Market Analysis
The Fumaric Acid Market size is estimated at 285.43 kilotons in 2024, and is expected to reach 346.43 kilotons by 2029, growing at a CAGR of 3.95% during the forecast period (2024-2029).
Due to the COVID-19 outbreak, nationwide lockdowns around the globe, disruption in manufacturing activities and supply chains, and production halts negatively impacted the market in 2020. However, the conditions started recovering in 2021, restoring the market's growth trajectory during the forecast period.
- The growing application in the food and beverage industry is a major factor driving the market studied.
- Health hazard related to fumaric acid is one of the major restraining factors for the market studied.
- The emergence of new potential application areas will likely act as an opportunity for the market studied.
- Asia-Pacific dominated the market and is expected to continue its dominance during the forecast period.
Fumaric Acid Industry Segmentation
Fumaric acid (trans-butanediol acid) is a white crystalline compound found in nature. Fumaric acid helps produce energy from food in the form of ATP. The fumaric acid market is segmented into type, application, end-user industry, and geography. By type, the market is segmented into food grade and technical grade. By application, the market is segmented into food & beverage processing, rosin paper sizing, unsaturated polyester resin, alkyd resin, personal care & cosmetics, and other applications. By end-user industry, the market is segmented into food and beverage, cosmetics, pharmaceutical, chemical, and other end-user industries. The report also covers the market size and forecasts for fumaric acid in 15 countries across major regions. For each segment, the market sizing and forecasts have been done based on volume (kilotons).
| Type | |
| Food Grade | |
| Technical Grade |
| Application | |
| Food & Beverage Processing | |
| Rosin Paper Sizing | |
| Unsaturated Polyster Resin | |
| Alkyd Resin | |
| Personal Care & Cosmetics | |
| Other Applications |
| End-user Industry | |
| Food and Beverage | |
| Cosmetics | |
| Pharmaceutical | |
| Chemical | |
| Other End-user Industries |
| Geography | |||||||
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Fumaric Acid Market Size Summary
The fumaric acid market is poised for steady growth over the forecast period, driven primarily by its extensive application in the food and beverage industry. As a solid organic food acid, fumaric acid serves multiple roles, including as a flavoring, pH control, antimicrobial, and pickling agent, making it a versatile additive in products such as baked goods, beverages, and desserts. Despite challenges posed by health concerns related to its use, the market is expected to benefit from emerging application areas, presenting new opportunities for expansion. The Asia-Pacific region, particularly countries like India, China, and Japan, is anticipated to maintain its dominance in the market, supported by robust demand from the food processing sector and increasing urbanization.
The market landscape is characterized by fragmentation, with a few key players holding a significant share. Companies such as Bartek Ingredients Inc., XST Biological Co. Ltd., Changmao Biochemical Engineering Company Limited, Fuso Chemical Co. Ltd, and Polynt are prominent in the industry. Notably, Bartek Ingredients Inc. is making substantial investments to enhance its production capabilities, aiming to establish the world's largest malic and food-grade fumaric acid production facility. This strategic move is expected to significantly boost Bartek's market capacity, reflecting the competitive dynamics and growth potential within the fumaric acid industry.
Fumaric Acid Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Growing Application in the Food and Beverage Industry
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1.1.2 Other Drivers
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1.2 Restraints
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1.2.1 Health Hazard Related to Fumaric Acid
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION (Market Size in Volume)
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2.1 Type
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2.1.1 Food Grade
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2.1.2 Technical Grade
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2.2 Application
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2.2.1 Food & Beverage Processing
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2.2.2 Rosin Paper Sizing
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2.2.3 Unsaturated Polyster Resin
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2.2.4 Alkyd Resin
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2.2.5 Personal Care & Cosmetics
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2.2.6 Other Applications
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2.3 End-user Industry
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2.3.1 Food and Beverage
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2.3.2 Cosmetics
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2.3.3 Pharmaceutical
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2.3.4 Chemical
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2.3.5 Other End-user Industries
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2.4 Geography
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2.4.1 Asia-Pacific
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2.4.1.1 China
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2.4.1.2 India
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2.4.1.3 Japan
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2.4.1.4 South Korea
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2.4.1.5 Rest of Asia-Pacific
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2.4.2 North America
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2.4.2.1 United States
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2.4.2.2 Canada
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2.4.2.3 Mexico
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2.4.3 Europe
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2.4.3.1 Germany
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2.4.3.2 United Kingdom
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2.4.3.3 France
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2.4.3.4 Italy
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2.4.3.5 Rest of Europe
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2.4.4 South America
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2.4.4.1 Brazil
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2.4.4.2 Argentina
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2.4.4.3 Rest of South America
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2.4.5 Middle-East and Africa
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2.4.5.1 South Africa
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2.4.5.2 Saudi Arabia
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2.4.5.3 Rest of Middle-East and Africa
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Fumaric Acid Market Size FAQs
How big is the Fumaric Acid Market?
The Fumaric Acid Market size is expected to reach 285.43 kilotons in 2024 and grow at a CAGR of 3.95% to reach 346.43 kilotons by 2029.
What is the current Fumaric Acid Market size?
In 2024, the Fumaric Acid Market size is expected to reach 285.43 kilotons.
