The global fumaric acid market size is expected to reach USD 748.4 million by 2030, registering a CAGR of 4.2% CAGR from 2024 to 2030. Increasing convenience food demand coupled with a growing middle class per capita disposable income in Asia Pacific and Latin America is expected to drive the global market over the forecast period. The introduction of ethnic and exotic flavors by food & beverage manufacturers is also expected to prompt demand growth. Stringent environmental regulations in order to reduce greenhouse gases (GNG) emission is expected to remain a key challenge for market participants.
Food & beverage was the leading application segment and accounted for 44.8% of the total market volume in 2023. Fumaric acid is used as an acidulant in food & beverages owing to its properties such as micro-organisms growth controller, pH modifier, and flavor enhancer. Food & beverage is also expected to witness the highest growth rate of 4.70% from 2024 to 2030. Unsaturated polyester resins (UPR) are expected to witness moderate growth rate over the next six years. Increasing construction spending coupled with an increase in automobile production particularly in China, India, Indonesia, and Thailand is expected to augment fumaric acid demand for UPR.
This product will be delivered within 1-3 business days.
Food & beverage was the leading application segment and accounted for 44.8% of the total market volume in 2023. Fumaric acid is used as an acidulant in food & beverages owing to its properties such as micro-organisms growth controller, pH modifier, and flavor enhancer. Food & beverage is also expected to witness the highest growth rate of 4.70% from 2024 to 2030. Unsaturated polyester resins (UPR) are expected to witness moderate growth rate over the next six years. Increasing construction spending coupled with an increase in automobile production particularly in China, India, Indonesia, and Thailand is expected to augment fumaric acid demand for UPR.
Fumaric Acid Market Report Highlights
- The global fumaric acid market size was valued at USD 561.5 million in 2023 and is projected to grow at a CAGR of 4.2% from 2024 to 2030.
- Food & beverages segment dominated the market and accounted for the largest revenue share of 44.8% in 2023 owing to the increased use of fumaric acid in convenience food production
- Asia Pacific fumaric acid market dominated the global market with a market share of 44.9% in 2023. Asia Pacific is also expected to witness the fastest growth to continue its dominance in the global market over the forecast period. Europe fumaric acid market is expected to grow at a CAGR of 4.1% over the forecast years
- The North America fumaric acid market had a market share of 25.4% in 2023. The U.S. is the leading fumaric acid consumer in North America. Increasing convenience food demand coupled with growing health consciousness among consumers is expected to drive the regional demand.
The leading players in the Fumaric Acid market include:
- Anmol Chemicals Private Limited
- Bartek Ingredients Inc.
- Changmao Biochem Engineering Company Limited
- ESIM Chemicals GmbH
- Fuso Chemical Co. Ltd
- Merck KGaA
- Polynt
- Thirumalai Chemicals
- UPC Group of Companies
- Yongsan Chemicals Inc.
Why should you buy this report?
- Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments.
- Competitive Landscape: Explore the market presence of key players worldwide.
- Future Trends: Discover the pivotal trends and drivers shaping the future of the global market.
- Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.
This report addresses:
- Market intelligence to enable effective decision-making
- Market estimates and forecasts from 2018 to 2030
- Growth opportunities and trend analyses
- Segment and regional revenue forecasts for market assessment
- Competition strategy and market share analysis
- Product innovation listing for you to stay ahead of the curve
- COVID-19's impact and how to sustain in these fast-evolving markets
This product will be delivered within 1-3 business days.
Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Fumaric Acid Market Variables, Trends, & Scope
Chapter 4. Fumaric Acid Market: Application Estimates & Trend Analysis
Chapter 5. Fumaric Acid Market: Regional Estimates & Trend Analysis
Chapter 6. Competitive Landscape
Companies Mentioned
The leading players in the Fumaric Acid market include:- Anmol Chemicals Private Limited
- Bartek Ingredients Inc.
- Changmao Biochem Engineering Company Limited
- ESIM Chemicals GmbH
- Fuso Chemical Co. Ltd
- Merck KGaA
- Polynt
- Thirumalai Chemicals
- UPC Group of Companies
- Yongsan Chemicals Inc.
Methodology
LOADING...
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 100 |
| Published | September 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 561.5 Million |
| Forecasted Market Value ( USD | $ 748.4 Million |
| Compound Annual Growth Rate | 4.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
