Fumaric Acid Market Size
| Study Period | 2019 - 2029 |
| Market Volume (2024) | 285.43 kilotons |
| Market Volume (2029) | 346.43 kilotons |
| 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 |
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 Market Trends
This section covers the major market trends shaping the Fumaric Acid Market according to our research experts:
Food and Beverage to Dominate the Demand
- Fumaric acid is solid organic food acid extensively used as an additive in the food and beverage industry. It is considered a non-toxic food additive, which can be used as a flavoring agent, a pH control agent, an antimicrobial agent, or a pickling agent in food products and beverages.
- Fumaric acid is widely used in bakeries, beverages, and desserts, like wheat, corn tortillas, refrigerated biscuit doughs, sourdough and rye bread, fruit juice, wine, jellies and jams, gelatin desserts, alginate-based desserts, pie fillings, etc.
- According to the Food and Agriculture Organization of the United Nations (FAO), world trade in cereals in 2022/23 is forecast at 469.6 million tonnes, up by 2 million tonnes since the July forecast but still 1.9 percent below the 2021/22 level.
- According to FAO, at 191.3 million tonnes, the forecast for world wheat trade in 2022/23 (July/June) remains nearly unchanged since July and still points to a 1.8 percent decline from 2021/22 (July/June) level.
- FAO predicted the world rice production in 2022/23 to be 512.6 million tonnes (milled basis), 2.4 percent below the 2021 all-time peak.
- According to the Ministry of Agriculture & Farmers Welfare, the production of food grains in India is estimated at a record 314.51 million tonnes, which is higher by 3.77 million tonnes than the production of foodgrain during 2020-21.
- Total Oilseeds production in India during 2021-22 is estimated at a record 38.50 million tonnes which is higher by 2.55 million tonnes than the production of 35.95 million tonnes during 2020-21.
- Due to the above reasons, the market is expected to have positive growth in the forecasted period.
Asia-Pacific to Dominate the Market
- The Asia-Pacific region may dominate the global fumaric acid, owing to demand from countries like India, China, and Japan.
- According to the Food and Agriculture Organization of the United Nations (FAO), Forecast at 1,471 million tonnes, the aggregate 2022 cereal output in Asia is 2.2 percent above the five-year average.
- In China, processed fruits, pork, dairy, and some specialty grains and legumes are the food products that may drive the growth of the food processing industry in the country. Thus, the food and beverage industry is offering opportunities for investment, which is further expected to create demand for new equipment used in such plants.
- The food processing sector in India has been primarily export-oriented. However, the local market is also growing, owing to urbanization and consumer preferences. India exported processed food valued at around USD 3770.1 million which mainly consists of processed fruits, vegetables, and meats, including seafood, along with a sizeable chunk of alcoholic beverages.
- According to FAO, the far east Asia subregional aggregate cereal output is forecast at 1,369 million tonnes (rice in paddy equivalent) in 2022, slightly above the previous five-year average. Below-average outputs are expected in the Democratic People's Republic of Korea, Nepal, Myanmar and especially in Sri Lanka,
- According to the agriculture ministry of India, rice production is expected to be 130.29 million tonnes. Wheat production could increase to 106.84 million tonnes, 2.96 million tonnes higher than the past five years' average of 103.88 million tonnes.
- The Japanese chemical industry is the country's 2nd largest manufacturing industry behind transportation machinery. Transportation machinery includes Japan's most notable industry, automotive, which is highly dependent on raw materials provided by the chemical industry. Mitsubishi Chemical Corp., Mitsui Chemicals Inc., Sumitomo Chemical Co. Ltd, Toray Industries Inc., and Shin-Etsu Chemical Co. rank among the world's top 30 chemical companies measured in chemical sales.
- Thus, the aforementioned factors are projected to significantly impact the market in the coming years.
Fumaric Acid Industry Overview
The fumaric acid industry market is highly fragmented, with the top five players accounting for around ~30% of the market. Some prominent players in the market include (not in any particular order) Bartek Ingredients Inc., XST Biological Co. Ltd., Changmao Biochemical Engineering Company Limited, Fuso Chemical Co. Ltd, and Polynt
Fumaric Acid Market Leaders
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Bartek Ingredients Inc.
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XST Biological Co. Ltd.
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Changmao Biochemical Engineering Company Limited
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Fuso Chemical Co. Ltd
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Polynt
*Disclaimer: Major Players sorted in no particular order
Fumaric Acid Market News
In May 2022, Bartek Ingredients Inc. will invest USD 160 million to construct a vertically integrated facility that will become the world's largest malic and food-grade fumaric acid and production plant. The project is expected to double Bartek's capacity.
Fumaric Acid Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Growing Application in the Food and Beverage Industry
4.1.2 Other Drivers
4.2 Restraints
4.2.1 Health Hazard Related to Fumaric Acid
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Volume)
5.1 Type
5.1.1 Food Grade
5.1.2 Technical Grade
5.2 Application
5.2.1 Food & Beverage Processing
5.2.2 Rosin Paper Sizing
5.2.3 Unsaturated Polyster Resin
5.2.4 Alkyd Resin
5.2.5 Personal Care & Cosmetics
5.2.6 Other Applications
5.3 End-user Industry
5.3.1 Food and Beverage
5.3.2 Cosmetics
5.3.3 Pharmaceutical
5.3.4 Chemical
5.3.5 Other End-user Industries
5.4 Geography
5.4.1 Asia-Pacific
5.4.1.1 China
5.4.1.2 India
5.4.1.3 Japan
5.4.1.4 South Korea
5.4.1.5 Rest of Asia-Pacific
5.4.2 North America
5.4.2.1 United States
5.4.2.2 Canada
5.4.2.3 Mexico
5.4.3 Europe
5.4.3.1 Germany
5.4.3.2 United Kingdom
5.4.3.3 France
5.4.3.4 Italy
5.4.3.5 Rest of Europe
5.4.4 South America
5.4.4.1 Brazil
5.4.4.2 Argentina
5.4.4.3 Rest of South America
5.4.5 Middle-East and Africa
5.4.5.1 South Africa
5.4.5.2 Saudi Arabia
5.4.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Anmol Chemicals
6.4.2 Bartek Ingredients Inc.
6.4.3 Changmao Biochem
6.4.4 ESIM Chemicals
6.4.5 Fuso Chemical Co. Ltd
6.4.6 Merck KGaA
6.4.7 Polynt
6.4.8 Thirumalai Chemicals Ltd
6.4.9 UPC Group
6.4.10 Yongsan Chemicals Inc.
6.4.11 XST Biological Co. Ltd
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Emergence of New Potential Application Areas
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 Research 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.
Who are the key players in Fumaric Acid Market?
Bartek Ingredients Inc., XST Biological Co. Ltd., Changmao Biochemical Engineering Company Limited, Fuso Chemical Co. Ltd and Polynt are the major companies operating in the Fumaric Acid Market.
Which is the fastest growing region in Fumaric Acid Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Fumaric Acid Market?
In 2024, the Asia Pacific accounts for the largest market share in Fumaric Acid Market.
What years does this Fumaric Acid Market cover, and what was the market size in 2023?
In 2023, the Fumaric Acid Market size was estimated at 274.58 kilotons. The report covers the Fumaric Acid Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Fumaric Acid Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Fumaric Acid Industry Report
Statistics for the 2024 Fumaric Acid market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Fumaric Acid analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
