Malic acid, a white crystalline powder, is used as a food additive to enhance flavor and sourness in many food and beverage products. Due to its solubility in water and alcohol, malic acid is used in the preparation of various luxurious drinks, including wine and other cocktails & mocktails. The malic acid market is growing steadily over the past few years, mainly due to its massive consumption in the food & beverages industry.
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According to Market Research Future (MRFR), the global malic acid market is poised to touch a valuation of USD 1283 MN by 2030. In its recently published analysis, MRFR also asserts that the market would grow at a CAGR over 4.67% throughout the forecast period (2021-2030). The market is largely driven by the demand in a range of application areas, which would continue in the coming years as well.
Feedstock flexibility of malic acid allows high conversion yields, productivity, and concentrated process streams resulting in cost-competitive economics. Food & beverage, personal care, and pharmaceutical are the largest end-user markets of malic acid that consume an extensive amount of the product. Besides, the bakery product and confectionary sector absorb a vast amount of malic acid.
Global Malic Acid Market - Regional Analysis
The Asia Pacific region leads the global Malic Acid Market Size, accounting for the largest share. Heading with the burgeoning end-use industries, the region is estimated to retain its dominance throughout the forecast period. The APAC malic acid market would register over 5.82% CAGR during the forecast period, driven by the presence of a large number of producers, cost-competitive product development, and the colossal consumption of the product in the F&B industry.
Furthermore, factors such as rapidly increasing population, urbanization, industrialization, and economic growth are commutatively pushing up the regional market, driving huge demand for food. Indonesia, China, Malaysia, and India are significant contributors to the market growth due to raw material advantages. The widening uptake of malic acid in cosmetic & personal care products industry is positively impacting the regional market growth.
The malic acid market in North America takes the second lead, following the APAC market closely. Growing consumption of the product in well-developed end-user industries such as food & beverages, pharmaceuticals, and cosmetic & personal care is a tailwind pushing up the regional market growth. The US leads the regional market owing to higher penetration of end-user industries in the country. Driven by the demand for convenience food that is influenced by the fast-paced lifestyle and working population, the malic acid market in North America is estimated to reach USD 53.7 MN mark by 2023.
The Europe malic acid market is emerging as a profitable market, globally. In 2016, the market had accounted for a 20% share of the global market. Germany dominates the regional market, in terms of size due to the ever-increasing consumption in the well-developed industries like personal care and pharmaceutical. Moreover, the presence of major manufacturers of Malic acid in the region, impacts the market growth, positively meeting the demand for food additives with a superior quality product.
Global Malic Acid Market - Competitive Analysis
Highly competitive the global malic acid market appears fragmented due to the presence of several well-established as well as small players. To gain an edge over their rivals, these players incorporate strategic approaches such as mergers & acquisitions, collaboration, expansion, and product & technology launch, and partnership.
These players also make substantial investments locally and in the emerging countries to expand their production capacity, distribution network, and supply chain. In such a scenario, obtaining strong financial support becomes the sole strategy of suppliers to sustain in the market. Manufacturers strive to minimize the cost of their product by adopting cost-effective manufacturing techniques.
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Key players leading the global malic acid market include Corbion NV, Tate & Lyle, Polynt S.p.A, Thirumalai Chemicals Ltd., Fuso Chemical Co., Ltd., Changmao Biochemical Engineering Company Limited, Bartek Ingredients Inc., Anhui Sealong Biotechnology Co. Ltd., Isegen South Africa (Pty) Ltd, and Yongsan Chemicals, Inc., and among others.
Global Malic Acid Market - Segmentation
The report is segmented into three market dynamics to widen the scope of understanding,
By Type : DL-Malic Acid, L-Malic Acid, and D (+)-Malic Acid.
By End-use Industry : Food & Beverage, Personal Care, and Pharmaceutical, among others.
By Regions : Asia Pacific, North America, Europe, and the Rest-of-the-World.