According to a new market research report published by Credence Research “Malic Acid Market(Beverages, Confectionery, Food, Personal care products and pharmaceuticals and Other) – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 – 2022”the global malic acid market was valued at US$ 143.0 MN in 2014 and is estimated to expand with a CAGR of 6.3% from 2015 to 2022.
Malic acid is widely used as a preservative in various food and beverages products owing to rising food safety concerns, desire for convenience and increased popularity of processed food and ready to drink beverages along with improving standard of living. Furthermore, growing market demand for new beverages and food products, especially fruit flavored beverages and food is projected to fuel the malic acid market. The increasing popularity for personal care products is also projected to be a major demand driver for malic acid. The usage of malic acid in food and beverages industry is approved by various regulatory agencies such as FDA, EFSA, and FSSAI among others and hence this is also one of the major reasons towards market growth and is also projected to propel the market demand over the coming few years.
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Confectionery is another lucrative segment for malic acid. Rising demand for confectionery products such as gum, jellies, jams, candies is also projected to contribute towards the malic acid market growth. During the forecast period the demand for malic acid is projected to be highest from Asia Pacific and Row regions. Countries such as India, China, Latin America, Middle East and Africa would be the chief contributors towards market growth as the concerns regarding the health and nutrition are comparatively nascent, and nutrition foods and beverages and diet products have less market penetration in these regions. However, volatility in the prices raw material can act as a major factor restraining the market growth.
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Players in this market are focusing on R & D for increasing application scope for malic acid. Further, they are also focusing on new product development to meet the specific client requirement for different products. Some of the key market participants present in this market are Miles Chemical, FUSO, Polynt, Yongsan Chemicals, Bartek, and Prinova LLC among others.
- Geographical expansion through organic as well as inorganic growth
- Malic acid is suitable for wide range of applications
- Emphasis on food and confectionery segment
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