PUBLISHER: Allied Market Research | PRODUCT CODE: 1193285
PUBLISHER: Allied Market Research | PRODUCT CODE: 1193285
The global malic acid market forecast was valued at $187.6 million in 2021, and is projected to reach $279.8 million by 2031, growing at a CAGR of 4.1% from 2022 to 2031.
Malic acid is a natural acid constituent of apples, grapes, cherries, and many other fruits. It finds a wide range of applications in the food & beverage industry owing to its compatibility with various types of flavors, and flavor enhancing property makes malic acid an ideal component in the formulation of juices, soft drinks, apple cider vinegar, wines, and others.
According to data revealed by the National Library of Medicine, it states that the malic acid is used as an antioxidant in a reported 167 cosmetic products at maximum concentrations of 0.1%. Malic acid is generally recognized as a safe (GRAS) antioxidant. These factors together act as one of the key drivers responsible for the growth of the malic acid market during the forecast period. In addition, the rise in population, surge in fashion trend among consumers, and adoption of western culture have spurred the textile industry, where malic acid is used as a textile finishing agent. This factor is anticipated to drive the market growth during the forecast period.
However, habitual use of malic acid may have side effects on human health such as irritation to the skin, headache, dizziness, nausea, diarrhea, and others. For instance, according to an article published by the National Library of Medicine, it states that malic acid is slightly toxic when it is ingested. In addition, fluctuations in the prices of raw materials which is used in the production of malic acids such as fruits, biomass, eggshells, and others have hampered the market growth. Furthermore, the high initial investment for the establishment of manufacturing plants is expected to hamper market growth. These factors are restraining the growth of malic acid in the market.
Malic acid is an organic compound and is widely used as a flavoring agent in the growing food & beverages industry. Factors such as the rise in population, increase in disposable income, advancement in the food processing industry, and surge in consumer demand for beverages and flavored drinks, which in turn leads to a rise in demand for malic acid which is extensively used as a flavoring agent and preservative for food thus, increases the shelf life of food. This factor is projected to fuel the market during the forecast period.
The malic acid market is segmented on the basis of type, application, and region. On the basis of type, the market is categorized into L-malic acid, D-malic acid, and LD-malic acid. On the basis of application, it is divided into food & beverages, personal care & cosmetics, pharmaceutical, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. The global malic acid market report provides in-depth competitive analysis as well as profiles of these major players.
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