New York (US), June 07, 2023 (GLOBE NEWSWIRE) -- Malic Acid Market Overview
The research documents by MRFR indicate that the “Malic acid Market Research Report Information by Type, Region, and End-User - Forecast Till 2030”, the Malic acid market is predicted to grow substantially over the assessment timeframe from 2022 to 2030 at a healthy CAGR of around 5.00%. The reports even share predictions regarding the market's growing revenue share, which is likely to attain a market of USD 0.28 Billion by the end of 2030. As per the study documents, the market was worth around USD 0.18 Billion in 2022.
Malic Acid is vastly expanding its base as this acid will help lower the toxicity in our body.
Competitive Analysis
The catalog of the top leaders across the global Market for Malic acid includes players such as:
- Tate & Lyle
- Thirumalai Chemicals Ltd. (TCL)
- Corbion NV
- Changmao Biochemical Engineering Company Limited
- Polynt S.p.A
- Bartek Ingredients Inc.
- Fuso Chemical Co., Ltd. (“Fuso”)
- Isegen South Africa (Pty) Ltd
- Yongsan Chemicals, Inc
- Anhui Sealong Biotechnology Co. Ltd.
- Among others.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 0.28 Billion |
| CAGR | 5.00% (2023-2030) |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2018 & 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, End-Use, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and Rest of the World |
| Key Market Drivers | Production of bakery products, desserts, gums, and carbonated drinks |
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Market USP Covered
Market Drivers
The global Malic acid industry has advanced enormously in recent years. The primary aspect causing a surge in the performance of the market is the increase in the awareness of the health sector. Furthermore, its wide use in the food and beverage industry as a flavoring agent and acidulant is a crucial parameter supporting the market's growth. Moreover, factors such as the rising demand for natural & organic food ingredients, the increasing popularity of sports & energy drinks, and the growing demand for convenience foods and beverages are also likely to enhance the market growth performance over the coming years.
Market Restraints
However, some aspects may limit the market's performance. The main aspect limiting the market's development is the high costs linked.
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COVID-19 Impact
The global health hazard of COVID-19 has impacted most industry operations in the last few years. The health emergency affected the industry operations and tremendously impacted public health in nearly 225 nations. The Malic acid industry was no exception to this. The supply chain disruptions and partial or complete lockdowns around various regions worldwide led to several disruptions in market operations. However, with the rapid recovery of the global economy, the market is predicted to showcase substantial development over the review era.
Segment Analysis
Among all the types, the DL-Malic Acid segment secured the leading position across the global malic acid market in 2022. DL-Malic acid refers to a kind of malic acid that is highly utilized in the pharmaceutical industry as an excipient & flavoring agent and in the food and beverage industry as a flavoring agent & acidulant.
Among all the end-users, the Food & Beverages segment secured the leading position across the global malic acid market in 2022. Malic acid is highly utilized in the food and beverage industry as a flavoring agent and acidulant, where it is utilized to improve the taste and shelf life of various products, such as dairy products, bakeries, and confectionery.
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Regional Analysis
The Global Market for Malic acid is analyzed across five major parts: Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa.
The research documents by MRFR indicate that the Asia-pacific Region carried the top position across the global Malic acid industry in 2021. India, China, and Indonesia are the leading development contributors in the region. Further, the China Malic acid Market held the largest market share, and India was the fastest-growing market in the Asia-pacific Region. The main aspect supporting regional market expansion is the escalating demand for convenience foods and beverages across the region. The region is known to have some of the fastest-growing economies in the world, which is also believed to be one of the crucial parameters enhancing regional market performance. Furthermore, factors such as the rising disposable income levels coupled with the growing population are also likely to positively impact the growth of the regional market over the coming years.
The European Region is anticipated to secure third position across the global Malic acid industry over the coming years. The region has France, Germany, and the U.K. as the leading development contributors. Further, the German Malic acid Market held the largest market share, and the U.K. was the fastest-growing Market in Europe. The main aspect supporting regional market expansion is the escalating demand for natural and organic food ingredients. Furthermore, the growing popularity of sports and energy drinks is also believed to be one of the crucial parameters enhancing the performance of the regional market. On the contrary, stringent regulations on food additives may restrict the performance of the regional market over the assessment era.
The North American is anticipated to hold the following position across the global Malic acid industry over the coming years. The region has Mexico, Canada, and the U.S. as the leading development contributors. Further, the U.S. Malic acid Market held the largest market share, and Canada was the fastest-growing North American Region. The main aspect supporting regional market expansion is the escalating demand for natural and organic food ingredients. Furthermore, factors such as the presence of a well-established food & beverage industry coupled with the growing popularity of sports & energy drinks are also likely to positively impact the growth of the regional market over the coming years.
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