Fumaric Acid Market Size (2024 - 2029)

The Fumaric Acid Market is projected to experience growth over the forecast period, driven primarily by its increasing use in the food and beverage industry. Despite challenges posed by health hazards associated with fumaric acid, the market is expected to expand, with new application areas presenting potential opportunities. The Asia-Pacific region currently leads in market dominance and is anticipated to maintain this position. The market's recovery from disruptions caused by the COVID-19 pandemic has set a positive growth trajectory for the coming years.

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Market Size of Fumaric Acid Industry

Fumaric Acid Market Summary
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

Fumaric Acid Market Major Players

*Disclaimer: Major Players sorted in no particular order

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
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
South Africa
Saudi Arabia
Rest of Middle-East and Africa
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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.

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Fumaric Acid Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Growing Application in the Food and Beverage Industry

      2. 1.1.2 Other Drivers

    2. 1.2 Restraints

      1. 1.2.1 Health Hazard Related to Fumaric Acid

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Volume)

    1. 2.1 Type

      1. 2.1.1 Food Grade

      2. 2.1.2 Technical Grade

    2. 2.2 Application

      1. 2.2.1 Food & Beverage Processing

      2. 2.2.2 Rosin Paper Sizing

      3. 2.2.3 Unsaturated Polyster Resin

      4. 2.2.4 Alkyd Resin

      5. 2.2.5 Personal Care & Cosmetics

      6. 2.2.6 Other Applications

    3. 2.3 End-user Industry

      1. 2.3.1 Food and Beverage

      2. 2.3.2 Cosmetics

      3. 2.3.3 Pharmaceutical

      4. 2.3.4 Chemical

      5. 2.3.5 Other End-user Industries

    4. 2.4 Geography

      1. 2.4.1 Asia-Pacific

        1. 2.4.1.1 China

        2. 2.4.1.2 India

        3. 2.4.1.3 Japan

        4. 2.4.1.4 South Korea

        5. 2.4.1.5 Rest of Asia-Pacific

      2. 2.4.2 North America

        1. 2.4.2.1 United States

        2. 2.4.2.2 Canada

        3. 2.4.2.3 Mexico

      3. 2.4.3 Europe

        1. 2.4.3.1 Germany

        2. 2.4.3.2 United Kingdom

        3. 2.4.3.3 France

        4. 2.4.3.4 Italy

        5. 2.4.3.5 Rest of Europe

      4. 2.4.4 South America

        1. 2.4.4.1 Brazil

        2. 2.4.4.2 Argentina

        3. 2.4.4.3 Rest of South America

      5. 2.4.5 Middle-East and Africa

        1. 2.4.5.1 South Africa

        2. 2.4.5.2 Saudi Arabia

        3. 2.4.5.3 Rest of Middle-East and Africa

Fumaric Acid Market Size FAQs

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.

In 2024, the Fumaric Acid Market size is expected to reach 285.43 kilotons.

Fumaric Acid Market Report Snapshots

Fumaric Acid Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)