According
to a new market research report published by Credence Research “Malic Acid
Market(Beverages, Confectionery, Food, Personal care
products and pharmaceuticalsand Other) – Growth, Share, Opportunities,
Competitive Analysis, and Forecast 2015 – 2022”the global malic acid market was
valued at US$ 143.0 Mn in 2014 and is estimated to expandwith a CAGR of 6.3%
from 2015 to 2022.
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| Malic Acid Market |
Market
Insights
Malic acid is widely
used as a preservative in various food and beverages products owing to rising
food safetyconcerns, desire for convenience and increased popularity of
processed food and ready to drink beverages along with improving standard of
living. Furthermore, growing market demand for new beverages and food products,
especially fruit flavoured beverages and food is projected to fuel the malic
acid market. The increasing popularity for personal care products is also
projected to be a major demand driver for malic acid. The usage of malic acid in
food and beverages industry is approved by various regulatory agencies such as
FDA, EFSA, and FSSAI among others and hence this is also one of the major
reasonstowards market growth and is also projected to propel the market demand
over the coming few years.
Confectionery is another lucrative segment for malic acid.
Rising demand for confectionery products such as gum, jellies, jams, candies is
also projected to contribute towards the malic acid market growth. During the
forecast period the demand for malic acid is projected to be highest from Asia
Pacific and RoW regions. Countries such as India, China, Latin America, Middle
East and Africa would be the chief contributors towards market growth as the
concerns regarding the health and nutrition are comparatively nascent, and
nutrition foods and beverages and diet products have less market penetration in
these regions. However, volatility in the prices raw material can act as a
major factor restraining the market growth.
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Competitive Insights:
Players in this market are focusing on R & D for increasing
application scope for malic acid. Further, they are also focusing on new
product development to meet the specific client requirement for different
products. Some of the key market participants present in this market are Miles
Chemical, FUSO, Polynt, Yongsan Chemicals, Bartek, and Prinova LLC among
others.
Key Trends:
·
Geographical expansion through organic as well as inorganic
growth
·
Malic acid is suitable for wide range of applications
·
Emphasis on food and confectionery segment
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