The global Fumaric Acid market stood at approximately 300 thousand tonnes in 2023 and is anticipated to grow at a CAGR of 3.8% during the forecast period until 2034.
Fumaric acid, a solid organic food acid extensively employed in the food and beverage sector, serves as a safe food additive utilized for flavour enhancement, pH regulation, antimicrobial purposes, and pickling in various food and beverage products. Its wide-ranging applications span bakeries, beverages, and desserts, including wheat and corn tortillas, refrigerated biscuit doughs, sourdough and rye bread, fruit juice, wine, jellies and jams, gelatine desserts, alginate-based desserts, and pie fillings. Additionally, it finds utility in the production of pharmaceuticals, animal feed additives, cosmetics, and as a precursor in the synthesis of various chemicals. Fumaric acid is employed in liquid pharmaceutical formulations to serve as an acidifier and enhance flavor. It also functions as a modifier in polyester production, as well as in alkyd and phenolic resins. Additionally, its applications extend to paper-sizing resins, plasticizers, rosin esters and adducts, and alkyd resin coatings.
The surge in demand for fumaric acid is anticipated to be propelled by the robust growth of the food and beverage industry. Fumaric acid, serving as a pivotal additive within this sector, is poised to experience heightened utilization owing to its multifaceted benefits, including flavor enhancement, pH stabilization, antimicrobial properties, and pickling attributes. This upsurge in demand is chiefly attributed to the expanding market for processed and convenience foods, coupled with the burgeoning beverage industry encompassing a wide array of carbonated beverages, fruit juices, and alcoholic drinks. Furthermore, advancements in food technology and product innovation are expected to further amplify the demand for fumaric acid within the business landscape of the food and beverage sector. Moreover, fumaric acid is being recognized as a promising alternative to synthetic organic acids like citric acid and tartaric acid in fruit syrups and snacks. This shift is forecasted to create lucrative growth prospects in the near future. Fumaric acid is utilized in the manufacturing processes of UPR (unsaturated polyester resin) and alkyd resins. The demand for paints is anticipated to surge due to the escalating construction undertakings, consequently bolstering the demand for UPR and paints, thereby propelling the growth of the fumaric acid market. Furthermore, the global upsurge in automobile production is poised to have a positive impact on the market. Fumaric acid-based UPR finds application in crafting body panels for both heavy and light-duty vehicles. Additionally, its increasing incorporation in pharmaceuticals is expected to further drive growth in the global market. The global Fumaric Acid market is likely to reach approximately 470 thousand tonnes in 2034.
Based on region, Asia Pacific region is anticipated to dominate as the largest consumer of Fumaric Acid globally, primarily driven by several factors. This dominance is projected to stem from various factors specific to the region. These factors may include the significant population size and economic growth in countries within the Asia Pacific region, leading to increased demand for various products that utilize fumaric acid as an ingredient or additive. Additionally, factors such as rapid industrialization, urbanization, and the expansion of key industries like food and beverage, pharmaceuticals, and chemicals in the Asia Pacific region are likely to contribute to the higher consumption of fumaric acid in this area compared to other regions globally.
Based on the end-user industry, the global Fumaric Acid market is divided into Food and Beverages, Paper Sizing, Unsaturated Polyester Resins (UPR), and Others. Among these, Food and Beverages sector is the dominating segment and held about 62% of the global Fumaric Acid market in 2023 and is anticipated to prevail the similar trend in the upcoming years.
Major players in the Global Fumaric Acid market are Anmol Chemicals, Bartek Ingredients Inc., Changmao Biochem, ESIM Chemicals, Fuso Chemical Co. Ltd, Merck KGaA, Polynt, Thirumalai Chemicals Ltd, UPC Group, Yongsan Chemicals Inc., and XST Biological Co. Ltd., and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2023
Estimated Year: 2024
Forecast Period: 2025-2034
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Objective of the Study:
• To assess the demand-supply scenario of Fumaric Acid which covers production, demand and supply of Fumaric Acid market in the globe.
• To analyse and forecast the market size of Fumaric Acid
• To classify and forecast Global Fumaric Acid market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Fumaric Acid market in the globe.
To extract data for Global Fumaric Acid market, primary research surveys were conducted with Fumaric Acid manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Fumaric Acid market over the coming years.
ChemAnalyst calculated Fumaric Acid demand across the globe by analyzing the volume of Fumaric Acid consumed by the end-user industries and the forecast is calculated based on the growth rate of end-use industries. ChemAnalyst sourced these values from industry experts and company representatives and externally validated them by analyzing the historical sales data of respective manufacturers to determine the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Fumaric Acid manufacturers and other stakeholders
• Organizations, forums and alliances related to Fumaric Acid distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Fumaric Acid manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Fumaric Acid market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2023
300 thousand tonnes
Market size Volume in 2034
470 thousand tonnes
Growth Rate
CAGR of 3.8% from 2024 to 2034
Base year
2023
Estimated year
2024
Historical Data
2015 – 2022
Forecast period
2025 – 2034
Quantitative units
Demand in thousand tonnes and CAGR from 2024 to 2034
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Food and Beverages, Paper Sizing, Unsaturated Polyester Resins (UPR), and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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What was the net market size of Fumaric Acid in terms of volume in 2023?
Ans:
The global market size of Fumaric Acid has reached approximately 300 thousand tonnes in 2023.
Q2.
Which industry is the leading end-user industry of Fumaric Acid?
Ans:
Food & Beverages industry is the leading end-user industry of Fumaric Acid globally.
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