Global Fumaric Acid Market

Fumaric Acid Market Overview

The global Fumaric Acid market is estimated to reach USD 1034.7 million by 2030, growing at a CAGR of 5.3% from 2022 to 2030. It was valued at USD 671.2 million in 2022. The rising food processing industry, mainly in the developing world, drives the demand for fumaric acid. The market for canned fish and seafood has noticed a steady growth over the past few years owing to consumer attention regarding the nutritional benefits of fish and seafood associated with the amenity in consumption it provides and the long shelf life it possesses.

What is Fumaric Acid?

Fumaric acid combines white or colorless crystalline chemicals with a fruit-like taste. Also known as trans-butanediol acid, it is naturally found in eukaryotes, bolete mushrooms, lichens and Iceland moss. It is also created by humans when the skin is exposed to sunlight. Like malic acid, fumaric acid helps create energy from food in the form of ATP. It is the strongest organic food acid as it has a higher relative sourness than other acidulants. Consequently, when used as a food additive, it offers long-lasting sourness and flavor and reduces the pH with minimal added sourness. Commercially available in dry powder, liquid or large pellet crystals, fumaric acid is also used in manufacturing medicines, animal feed, unsaturated polyester, cleaning agents, and printing inks.

Growth Drivers

The use of Fumaric Acids in various applications is driving the market growth

The major applications of fumaric acids include food & beverages, personal care products, and pharmaceuticals, which have achieved significant attention in the last few years. The main fumaric acids—are used in plastic making, tanning, textiles, paper, metal, pharmaceuticals, perfumes, herbal insecticides, colors & dyes, lubricants, food & beverage applications, and cosmetic manufacturing. In addition, acidulants such as malic acid and fumaric acids are replacing antibiotics in animal feed, owing to their advantages over other feed acidulants. Fumaric acid improves animal health by controlling the microbial growth in the digestive tract. Further, the manufacturers are using these acids as alternatives due to the increased concerns of using antibiotic growth promoters (AGP) in animal feed.

Opportunities

Increasing the Usage in Pharmaceutical & Food Industry

The growth & development in automobile production across the globe is anticipated to influence the industry positively. Accelerating pharmaceutical application is estimated to revitalize the growth of the global fumaric acid market. It is considered a potential replacement for synthetic organic acids like citric acid and tartaric acid in fruit syrups and snacks, creating growth opportunities for the forecast period. Rising research investments to create bio-based fumaric acid will deliver major opportunities for industry key players. Additionally, the popularity of nutritional bars and cereals will provide lucrative opportunities for the industry participants, further aiding the market growth.

Restraints

Medical & Government Restrictions

Fumaric acid is mostly safe, but there are also some side effects. The common symptom is discomfort, and they are confronted by only a few people who use supplements. The most familiar symptoms are itching, muscle aches, chest pain, nausea, swollen skin, redness, and constipation. These signs mostly disappear after a few days. Most of the effects are negligible. They can infrequently be significant. These extreme side effects are more severe forms of smaller colleagues, such as extreme chest tension. It can also induce shortness of breath, which needs immediate medical alert. Stringent government regulations and rising health awareness due to increasing health hazards are likely to hinder the market growth of fumaric acid. Exposure to fumaric acid can cause skin burning, throat irritation, nose irritation, and kidney damage. These elements are impeding the growth of the fumaric acid market.

Pre Covid-19 Impact on Global Fumaric Acid Market

Before the covid-19 period, Food processing is one of the prominent applications of fumaric acid. Fumaric acid is a typical food additive used in many processed foods to maintain food stability and tartness. Fumaric acid has a sourer flavor than citric acid (another common food additive). Fumaric acid naturally occurs in mushrooms, lichen, fumitory, Iceland moss, and bolete. However, fumaric acid is produced synthetically as a food additive, commonly from malic acid from apples, and these elements are growing the fumaric acid market before the pandemic.

Covid-19 Impact on Global Fumaric Acid Market

During the covid-19 period, the pandemic has impacted the global chemical industry. The social restrictions implemented as a response to the pandemic have drastically decreased the workforce in the industry. Manufacturing operations of several major chemical manufacturers have been operating at 40-60% capacity due to labor deficiencies and disturbances in the supply of raw material. According to the National Bureau of Statistics (China), chemical manufacturing decreased by around 20% in production during January-April 2020, approximated to the same period in 2019. Thus, the market has been negatively impacted during the covid-19 era.

Post Covid-19 Impact on Global Fumaric Acid Market

After the covid-19 period, people are more aware and concerned about the food and meat items. After the covid-19 explosion, they chose more packed and canned food items; many processed and packaged foods have fumaric acid to stabilize and enchase their flavor. For example, fumaric acid is added to many processed types of meat, such as canned meat and bacon. Fumaric acid also contains frozen food items, mainly seafood smoked meats, and the edible casings around sausages might also include fumaric acid added to them.

By Application Segmental Analysis

Based on application, the global fumaric acid market is segmented into Food Additives, Rosin-Sized Sheathing Paper, Unsaturated Polyester Resin, Alkyd Resin and others. Food additives presently show the biggest application segment. As a food additive, it is utilized as an acidity regulator. It is commonly used in beverages and baking powders for which necessities are placed on purity. Fumaric acid is used in making wheat tortillas as a food items preservative, and as the acid, in leavening. It is typically used as a substitute for tartaric acid and, periodically in place of citric acid, are used at a rate of 1 g of fumaric acid to every ~1.5 g of citric acid to add sourness.

By End-User Segmental Analysis

Based on end-user, the global fumaric acid market is segmented into Food & Beverages Industry, Cosmetic Industry, Pharmaceutical Industry, Chemical Industry and others. The food and beverage segment is probable to hold a larger share due to the wide applications of malic acid as a flavor enhancer and blending agent. It is extensively incorporated in carbonated, non-carbonated, and other beverage variants due to its balancing and blending abilities and imparting fruity notes into these products. Moreover, the increase in demand for functional and fortified beverages due to the growing inclination of consumers towards health-beneficial products has aided its market performance.

By Regional Segmental Analysis

Based on region, the global fumaric acid market is segmented into North America, Europe, Asia-Pacific, South America and The Middle East & Africa. The Asia Pacific is projected to notice the highest growth rate during the forecast period. They are due to the demand for fumaric acid in China and India. Asia-Pacific is projected to be the fastest-growing market during the forecast period due to the increased awareness connected to the health benefits of fumaric acid. This region’s relatively lower operational costs enable manufacturers to have competitive pricing on a global platform. In this region, countries are less stringent, in terms of regulations, over the trade and domestic marketing of food additives. Fumaric acids are manufactured on a large scale in China and are exported to international markets.

Competitors Analysis

The companies include Anmol Chemicals, Bartek Ingredients Inc., ESIM Chemicals, FUSO Chemical Co. Ltd., Merck KGaA, Polynt, Thirumalai Chemicals Ltd., UPC Technology Corporation, YOUNGSAN CHEMICALS, XST Biological Co. Ltd. and other prominent players in the global fumaric acid market. Key Stakeholders

• Market research and consulting firms
• Industry associations
• Online Banking Firms
• Local Governments
• Regulatory bodies
• Suppliers
• Retailers

Recent Development

• In July 2019, Thirumalai Chemicals authorized a proposal to set up a subsidiary to launch and operate a food components manufacturing facility in the United States. This installation will have a capacity of about 30,000 metric tons a year to manage the growing demand in global demand, including North America.
• In March 2020, Bartek Ingredients Inc., a subsidiary owned by TorQuest Partners, has arranged a 10,000 metric tons (MT) capacity development of its malic acid & Fumaric production in Canada, which is expected to be complete by 2021. The company is growing its production abilities to suffice the increasing demand for food-grade acid in North America.
• In November 2018, TorQuest Partners, a Canada-based private equity funds manager, obtained Bartek Ingredient Inc. The acquisition by the company was a strategic step for acquiring a leading chemical business and expanding its capacity and capabilities to serve its consumers better.

Scope of the Report

Report Attribute	Details
Revenue in 2021	USD 671.2 million
The revenue forecast in 2028	USD 894.7 million
Growth Rate	CAGR of 4.9 % from 2022 to 2028.
Historical data	2017 – 2020
Base Year	2021
Forecast period	2022 – 2028
Region covered	North America, Europe, Asia-Pacific, South America, and Middle East & Africa
Key companies Profiled	The companies include Anmol Chemicals, Bartek Ingredients Inc., ESIM Chemicals, FUSO Chemical Co. Ltd., Merck KGaA, Polynt, Thirumalai Chemicals Ltd., UPC Technology Corporation, YOUNGSAN CHEMICALS, XST Biological Co. Ltd. are the key players.

Market Modelling

By Application

• Food Additives
• Rosin-Sized Sheathing Paper
• Unsaturated Polyester Resin
• Alkyd Resin
• Others

By End-User

• Food and Beverages Industry
• Cosmetic Industry
• Pharmaceutical Industry
• Chemical Industry
• Others

By Region

• North America
• Europe
• Asia Pacific
• South America
• The Middle East & Africa

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