Global Fumaric Acid Market Ata CAGR of 6.61% Growth, Trends and Absolute Opportunity up to 2026

Global Fumaric Acid MarketBy Application (Food Additive, Rosin Paper Sizes, UPR, Alkyd Resins, Animal Feed, Others), End- User (Food and Beverages Industry, Cosmetics Industry, Pharmaceutical Industry, Chemical Industry), Extraction Type (Fumaria Officinalis, Maleic Anhydride, Fermentation), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2026

Market Definition: Global Fumaric Acid Market

Fumaric acid is a colorless chemical compound which is water soluble solid and is usually found in different plants or are made synthetically. They usually have fruit like taste and are used as food acidulants. They have the ability to control the growth of microorganisms and also improve the flavour. They are also used in used as a substitute for tartaric acid in drinks and baking powders of synthetic resins.

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Market Drivers:

• Increasing application of fumaric acid is driving the market growth
• Growing demand for convenience food & beverage will also accelerate the market growth
• Growth in construction industry is another factor uplifting the growth of the market
• Rising disposable income acts as a market driver in the forecast period
• Growing popularity of health and sports drink will also drive the market

Market Restraints:

• Strict government regulations will restrain the market growth
• Availability of substitute in the market also hinder the growth of this market

Market Analysis: Global Fumaric Acid Market

Global Fumaric Acid Market is set to witness a substantial CAGR of 6.61% in the forecast period of 2019- 2026. The report contains data of the base year 2018 and historic year 2017. Rising popularity of processed food and increasing usage of flavouring agents are the factor for the market growth.

Segmentation: Global Fumaric Acid Market

By Application

• Food Additive
• Rosin Paper Sizes
• UPR
• Alkyd Resins
• Animal Feed
• Others

By End- User

• Food and Beverages Industry
• Preservatives
• Baked Products
• Flavoring Agents
• Fruit Juices
• Wine
• Cosmetics Industry
• Body Cleaning Agents
• Pharmaceutical Industry
• Chemical Industry
• Paints
• Raisins

By Extraction Type

• Fumaria Officinalis
• Maleic Anhydride
• Fermentation

Competitive Analysis:

Global fumaric acid market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of fumaric acid market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

Key Developments in the Market:

• In July 2019, Board of Thirumalai Chemicals announced that they have approved the development and operation of a manufacturing facility for food ingredients including malic and fumaric acid in the United States. This new facility will have the capacity of 30,000 tonnes and will help them to meet the rising demand of the customer
• In November 2018, TorQuest announced the acquisition of Bartek Ingredients Inc. This acquisition will help the company to enhance their capacity and capabilities so they can serve better products to their customers. Specialty goods from Bartek improve the taste, efficiency and effectiveness of brands worldwide

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