Market Trends of US Fumaric Acid Industry
Food and Beverage Sector to Dominate the Market
- Fumaric acid is used as an acidulant, pH controller, and taste enhancer in the food and beverage sector. The demand for fumaric acid has expanded due to the growth in the popularity of processed foods and the increased use of flavoring additives.
- Fumaric acid enhances the quality and reduces the cost of many food and beverage products. It is used in several varieties of food like wheat and corn tortillas, refrigerated biscuit dough, fruit juice, nutraceutical drinks, confectioneries, wine, and various others.
- In the United States, the demand for wines and beverages is high. This is likely to increase the demand for fumaric acid as it is widely used as an additive in the manufacturing of wines and other beverages.
- According to the Alcohol and Tobacco Tax and Trade Bureau (TTB), California was the biggest producer of bottled wine in the United States in 2022. The state produced over 599 million gallons of bottled wine, much more than the next biggest producer, New York, which produced 41.9 million gallons of wine in that year.
- California is the largest wine producer in the United States, producing over 84% of the total US wine production. California has a total of 4,391 wineries located all over the state.
- Washington State is the second-largest wine producer in the United States. However, it produces only a small fraction of what California produces. Washington accounts for 5% of the total American wine production.
- According to the Foreign Agricultural Service (FAS), the total export value of processed food products accounts for USD 38 billion in the United States.
- A recent study from the United States National Health and Nutrition Examination Survey found that ultra-processed foods comprised about 60% of the total calories in the diet of US people.
- According to a report by the National Confectioners Association (NCA), the confectionery category grew by 11.1% in 2022 compared to 2021. The total sales of US confectionery sales reached a record of USD 42.6 billion in 2022, compared to USD 36.9 billion in 2021.
- Thus, the growing consumption of fumaric acid in various food and beverage products is likely to enhance the growth of the market.
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Pharmaceuticals Segment to Dominate the market
- Fumaric acid is used in oral pharmaceutical formulations and has been used clinically in psoriasis treatment.
- Psoriasis is a widely prevalent, systemic, immune-mediated, chronic disease that affects approximately 7.5 million people in the United States. Up to 90% of patients with psoriasis have plaque psoriasis, which is characterized by distinct, round, or oval plaques typically covered by silvery-white scales. Around one-quarter of people with psoriasis, or around two million in the United States, have cases that are considered moderate-to-severe.
- Approximately 25-30% of people with psoriasis experience joint inflammation that produces symptoms of arthritis. This condition is called psoriatic arthritis. By 2040, an estimated 78.4 million (25.9%) US adults aged 18 years or older are projected to have doctor-diagnosed arthritis (BRFSS).
- The United States boasts a colossal pharmaceutical industry that holds a lion's share in the global pharmaceutical market. The major factors fueling the pharmaceutical sector growth in the country are the increasing research and development expenditure and the growing burden of chronic diseases.
- In 2022, the value of total sales of pharmaceutical products in the United States was USD 605 billion, compared to USD 556 billion in 2021. The United States accounted for 49.8% of global sales in 2022 and 49.7% in 2021.
- Therefore, the increase in psoriasis cases among adults and the need for medication formulated with fumaric acid would enhance the growth of the market during the forcast period.
