Fumaric Acid Market Size Estimated to Reach USD 979.92 MN By 2028, With 4.70% CAGR: Statistics Report by Credence Research

June 29 01:16 2022
Fumaric Acid Market Size Estimated to Reach USD 979.92 MN By 2028, With 4.70% CAGR: Statistics Report by Credence Research
Global Fumaric Acid Market is projected to increase at a significant CAGR of 4.70% in the coming years. In 2021, the global Fumaric Acid market was valued at USD 710.5 Million and is projected to reach the value of USD 979.92 million by 2028.

The Global Fumaric Acid Market generated revenue of around USD 710.5 million in 2021 and is anticipated to grow a CAGR of over 4.70% during the forecast period from 2022 to 2028 to reach around USD 979.92 million in 2028. While cumulative growth opportunity presented by the global Fumaric Acid is around USD 6,712.27 million from 2022 to 2028.

The food and beverage business, as well as the building and construction industry, drove the market for fumaric acid. Food safety and preservation, combined with the growing popularity of processed foods, were the primary factors driving demand for fumaric acid in the food and beverage industry. Fumaric acid is used as an acidulant, taste enhancer, and pH adjuster in food and beverages, among other things. Fumaric acid is utilized in unsaturated polyester resins and alkyd resins in the plastics industry. These resins are utilized in the construction and building industries. Other important end-users of fumaric acid are rosin paper sizes, printing inks, and medical and healthcare. During the projected period, increasing demand for sports and health drinks is expected to present a significant opportunity for fumaric acid. Furthermore, nutritional bars (cereal and energy bars) are another key market for fumaric acid, with demand expected to increase in the coming years.

Fumaric Acid Market Share: By Application Type

Based on the application type, the market is segmented as food and beverage processing, rosin paper sizing, unsaturated polyester resin, alkyd resin, personal care & cosmetics, and others. The food and beverage processing segment is likely to dominate the market, as fumaric acid is the majorly used food additive for keeping processed food stable. Also, this additive decreases the pH value with minimum additional sourness.

Fumaric Acid Market Share: By Region

In terms of regions, Asia-Pacific is estimated to be the largest as well as the fastest-growing market for fumaric acid market during the forecast period, driven by China. Also, high demand for packed foods, increasing per-capita income, and growing population to also contribute towards the region’s growth over the next five years.

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The global Fumaric Acid market is bifurcated into Extraction Type, End-Use Industry, Application, and Geography. Based on extraction type the market is categorized into fumaria officinalis, maleic anhydride, and fermentation. On the basis of end-use, the global market is segmented into food and beverage, cosmetic, pharmaceutical, and chemical. Based on the extraction process the market is bifurcated as solvent-extracted and cold-pressed. By sales application, the market is categorized into food additives, rosin paper sizes, unsaturated polyester resins (UPR), alkyd resins, animal feed, and others. Based on geography, the market is segmented as North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

Why to Buy This Report-

  • The report provides a qualitative as well as quantitative analysis of the global Fumaric Acid market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-2020, base year- 2021, and forecast period 2022-2028.
  • The report contains information related to the competitive landscape like how the key players in the market are operating at a global, regional, and country-level
  • In-depth analysis of the global market segmentation on the extraction process, end-use industry, application, and sales channel.
  • Major countries in each region with their import/export statistics
  • The global Fumaric Acid market report also includes the analysis of the market at a global, regional, and country-level along with key market trends, major players analysis, market growth strategies, and key application areas.

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 Table of Content

1. Preface

1.1. Report Description

1.1.1. Purpose of the Report

1.1.2. Target Audience

1.1.3. USP and Key Offerings

1.2. Research Scope

1.3. Research Methodology

1.3.1. Phase I – Secondary Research

1.3.2. Phase II – Primary Research

1.3.3. Phase III – Expert Panel Review

1.3.4. Approach Adopted Top-Down Approach Bottom-Up Approach

1.3.5. Assumptions

1.4. Market Segmentation

2. Executive Summary

2.1. Market Snapshot: Global Fumaric Acid Market

3. Market Dynamics & Factors Analysis

3.1. Introduction

3.1.1. Global Fumaric Acid Market Value, 2016-2028, (US$ Bn)

3.2. Market Dynamics

3.2.1. Key Growth Trends

3.2.2. Major Industry Challenges

3.2.3. Key Growth Pockets

3.3. Attractive Investment Proposition,2021

3.3.1. Extraction Type

3.3.2. Application

3.3.3. End-user

3.3.4. Geography

3.4. Porter’s Five Forces Analysis

3.4.1. Threat of New Entrants

3.4.2. Bargaining Power of Buyers/Consumers

3.4.3. Bargaining Power of Suppliers

3.4.4. Threat of Substitute Types

3.4.5. Intensity of Competitive Rivalry

3.5. Value Chain Analysis

4. Market Positioning of Key Players, 2021

4.1. Company market share of key players, 2021

4.2. Top 6 Players

4.3. Top 3 Players

4.4. Major Strategies Adopted by Key Players

5. COVID 19 Impact Analysis

5.1. Global Fumaric Acid Market Pre Vs Post COVID 19, 2019 – 2028

5.2. Impact on Import & Export

5.3. Impact on Demand & Supply

6. North America

6.1. North America Fumaric Acid Market, by Country, 2016-2028(US$ Bn)

6.1.1. U.S.

6.1.2. Canada

6.1.3. Mexico

6.2. North America Fumaric Acid Market, by Extraction Type, 2016-2028(US$ Bn)

6.2.1. Overview

6.2.2. Fumaria Officinalis

6.2.3. Maleic Anhydride

6.2.4. Fermentation

6.3. North America Fumaric Acid Market, by Application, 2016-2028(US$ Bn)

6.3.1. Overview

6.3.2. Food Additives

6.3.3. Rosin Paper Sizes

6.3.4. Unsaturated Polyester Resins (UPR)

6.3.5. Alkyd Resins

6.3.6. Animal Feed

6.3.7. Others

6.4. North America Fumaric Acid Market, by Application, 2016-2028(US$ Bn)

6.4.1. Overview

6.4.2. Food and Beverage

6.4.3. Cosmetic

6.4.4. Pharmaceutical

6.4.5. Chemical

6.4.6. Others

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Article: Fumaric Acid Market projected to witness substantial growth in the near future

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