Global Fumaric Acid Market Size, Share, Growth Analysis, By Product Type(Technical Grade Fumaric Acid, Food Grade Fumaric Acid), By Application(Food and Beverages, Rosin Size)

Description

Global Fumaric Acid Market size was valued at USD 691.89 million in 2022 and is poised to grow from USD 725.10 million in 2023 to USD 1055.09 million by 2031, growing at a CAGR of 4.8% during the forecast period (2024-2031).

Fumaric acid, a naturally occurring dicarboxylic organic acid found in various fruits and vegetables like apples, grapes, and carrots, serves as a vital component in the food and beverage industry, functioning as an acidulant, flavor enhancer, and pH regulator. Beyond its culinary applications, it plays a significant role in industrial production, contributing to the manufacture of resins, alkyd paints, and unsaturated polyester resins. This white crystalline powder, highly soluble in water and alcohol, offers numerous health benefits, including its utilization in treating medical conditions such as psoriasis, acne, and hyperpigmentation. Regulatory bodies like the US FDA and the EFSA have deemed fumaric acid safe for consumption, designating it as "generally recognized as safe" (GRAS) for foods and approving its use as a food additive without specific limitations. Both agencies have established acceptable daily intake (ADI) levels, with the FDA setting it at 0-10 mg/kg body weight per day and the EFSA at 10 mg/kg body weight per day.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Fumaric Acid Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Fumaric Acid Market Segmental Analysis

The Global Fumaric Acid market is segmented by product type, and application. Based on product type, the Fumaric Acid Market can be segmented into technical grade fumaric acid, food grade fumaric acid, and pharmaceutical grade fumaric acid. Based on application, the Fumaric Acid Market is segmented into food and beverages, rosin size, unsaturated polyester resins, alkyd resins, and pharmaceuticals. Based on region, the Fumaric Acid Market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Drivers of the Global Fumaric Acid Market

The surging demand for processed food and beverages stands as a pivotal force propelling the global fumaric acid market forward. Fumaric acid finds extensive application as both an acidulant and flavor enhancer across a spectrum of food and beverage items, including carbonated drinks, fruit juices, and bakery goods. Factors such as expanding population, evolving dietary preferences, and escalating urbanization contribute to the heightened interest in processed food and beverages on a global scale. Additionally, the burgeoning inclination towards clean label offerings and the increasing preference for natural and organic food products are poised to provide further impetus to the growth trajectory of the fumaric acid market in the foreseeable future.

Restraints in the Global Fumaric Acid Market

The global fumaric acid market faces a significant challenge due to the presence of substitutes, despite its extensive utilization across diverse sectors including food and beverages, pharmaceuticals, and industrial applications. Substitutes like citric acid, malic acid, tartaric acid, and succinic acid are readily available in the market, offering comparable functionalities at reduced expenses. Additionally, some of these alternatives are perceived as safer with fewer adverse effects compared to fumaric acid. Consequently, this availability of substitutes is anticipated to impede the market expansion of fumaric acid in the foreseeable future.

Market Trends of the Global Fumaric Acid Market

One prominent trend in the global fumaric acid market is the burgeoning need from the food and beverage sector. Fumaric acid serves as a crucial acidulant and flavor enhancer across a spectrum of food and drink items, including bakery products, fruit juices, and sports beverages. As the inclination towards convenient food options and the consumption of non-alcoholic drinks escalates, the demand for fumaric acid is anticipated to surge in the foreseeable future. Furthermore, heightened awareness regarding its advantageous attributes, such as augmenting food preservation and prolonging shelf life, is propelling its adoption in diverse industries like pharmaceuticals and personal care.

Product Code: SQMIG15A2129

Executive Summary

Market Overview
Wheel of Fortune

Research Methodology

Information Procurement
Secondary & Primary Data Sources
Market Size Estimation
Market Assumptions & Limitations

Parent Market Analysis

Market Overview
Market Size
Market Dynamics
- Drivers
- Opportunities
- Restraints
- Challenges

Key Market Insights

Technology Analysis
Pricing Analysis
Supply Chain Analysis
Value Chain Analysis
Ecosystem of the Market
IP Analysis
Trade Analysis
Startup Analysis
Raw Material Analysis
Innovation Matrix
Pipeline Product Analysis
Macroeconomic Indicators
Top Investment Analysis
Key Success Factor
Degree of Competition

Market Dynamics & Outlook

Market Dynamics
- Drivers
- Opportunities
- Restraints
- Challenges
Regulatory Landscape
Porters Analysis
- Competitive rivalry
- Threat of Substitute Products
- Bargaining Power of Buyers
- Threat of New Entrants
- Bargaining Power of Suppliers
Skyquest Special Insights on Future Disruptions
- Political Impact
- Economic Impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact

Global Fumaric Acid Market by Product Type

Market Overview
Technical Grade Fumaric Acid
Food Grade Fumaric Acid
and Pharmaceutical Grade Fumaric Acid

Global Fumaric Acid Market by Application

Market Overview
Food and Beverages
Rosin Size
Unsaturated Polyester Resins
Alkyd Resins
and Pharmaceuticals

Global Fumaric Acid Market Size by Region

Market Overview
North America
- USA
- Canada
Europe
- Germany
- Spain
- France
- UK
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa (MEA)
- GCC Countries
- South Africa
- Rest of MEA

Competitive Landscape

Top 5 Player Comparison
Market Positioning of Key Players, 2021
Strategies Adopted by Key Market Players
Top Winning Strategies
- By Development
- By Company
- By Year
Recent Activities in the Market
Key Companies Market Share (%), 2021

Key Company Profiles

Bartek Ingredients Inc.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Polynt S.p.A.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Thirumalai Chemicals Ltd.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Fuso Chemical Co. Ltd.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Prinova Group LLC
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Changzhou Yabang Chemical Co. Ltd.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Nippon Shokubai Co. Ltd.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Tianjin Bohua Yongli Chemical Industry Co. Ltd.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Wego Chemical Group
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
The Chemical Company
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Isegen South Africa (Pty) Ltd.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Dastech International Inc.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
JIangsu Sanmu Group Corporation
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Xilong Scientific Co. Ltd.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Aecochem Corp.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Hefei TNJ Chemical Industry Co. Ltd.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Nantong Senos Biotechnology Co. Ltd.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Nantong Chem-land Co. Ltd.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Suzhou Youhe Science and Technology Co. Ltd.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Zibo Yinghe Chemical Co. Ltd.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
In February 2022, Univar Solutions Inc. announced a new partnership with Changzhou Yabang Chemical Co. Ltd. to distribute their fumaric acid products in the European market, expanding their presence in the region.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
In November 2021, Huntsman Corporation announced the completion of a major expansion of its fumaric acid production facility in Texas, adding 50,000 metric tons of annual capacity.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
In September 2021, Polynt-Reichhold Group announced the launch of a new range of fumaric acid-based resins for the coatings and composites markets, aimed at improving the sustainability and performance of the products.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
In August 2021, Thirumalai Chemicals Ltd. announced plans to invest in a new fumaric acid production facility in India, with an estimated annual capacity of 20,000 metric tons.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
In May 2021, Merck KGaA announced the acquisition of AmpTec GmbH, a German biotech company that specializes in the production of high-quality RNA, including fumaric acid-based building blocks.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments

Global Fumaric Acid Market Size, Share, Growth Analysis, By Product Type(Technical Grade Fumaric Acid, Food Grade Fumaric Acid), By Application(Food and Beverages, Rosin Size) - Industry Forecast 2024-2031