Malic Acid Market
Malic Acid Market (Form: Powder and Liquid; Type: L-Malic Acid, D-Malic Acid, and DL-Malic Acid; and Application: Food & Beverages, Medicinal & Personal Care, Chemical, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031
- Chemicals & Materials
- 279 Pages
Optimum Physical Performance Met with Malic Acid Supplements during Coronavirus Crisis
Changing consumer demands are being witnessed in the malic acid market amid the coronavirus crisis. Though an increasing number of people is striving to be physically active, poor market sentiments are equally affecting the sales of dietary supplements. Hence, manufacturers are bullish on future revenue opportunities when an increasing number of more people growing health conscious, thus fueling the demand for dietary supplements involving malic acid.
Malic acid-induced dietary supplements are being combined with creatine supplements in order to improve the body’s absorption of creatine. Such trends are translating into value grab opportunities for companies in the malic acid market. Since several people are becoming health conscious by maintaining optimum immunity as a result of COVID-19, individuals are increasing efforts to prevent kidney stone and skin issues with the help of malic acid-induced dietary supplements.
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Lack of Research in Supplements, Skincare Products Preventing Regular Use
The malic acid market is projected to surpass US$ 1.35 Bn by 2031. However, possible side effects of malic acid such as diarrhea, nausea, headache, and the likes are affecting the sales of malic acid supplements. The pharmaceutical companies need to increase their R&D efforts to introduce better dietary supplements with the safety of long-term or regular use.
On the other hand, malic acid-induced skincare products are being linked with redness, irritation, and itching. Hence, companies are recommending the use of sunscreen in combination with skincare products containing alpha-hydroxy acid and malic acid to prevent unwanted skins reactions.
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Organic-complaint L-Malic Acid Additives Gain Prominence in F&B Industry
The malic acid market is predicted to clock a CAGR of 3.6%, in terms of volume, during the forecast period. However, the high prevalence of health issues such as dry mouth, fibromyalgia, skin issues, and kidney stone are fueling the demand for malic acid supplements.
Moreover, additive innovations are contributing to the growth of the malic acid market. NutriScience - a global ingredient developer and supplier, is gaining recognition for NuMalic® organic-complaint L-malic acid that is gaining application in functional foods, powdered drink mixes, and tea beverages, among others. As such, food & beverages (F&B) are expected to dictate the highest revenue share amongst all application types in the malic acid market during the forecast period.
Renewable Substrates Essential for Competitive Bio-based Production of Malic Acid
Malic acid derived from fossil resources is currently being used in the F&B industry. However, transition from a fossil-based to a bio-based economy is revolutionizing the global malic acid market. Such trends are anticipated to boost the production capacities of manufacturers, since fossil resources are depleting at a fast rate. Biotechnologically produced L-malic acid holds promising potentials in the field of biopolymers.
Besides ecological reasons, the possibility to produce enantiopure L-malic acid by microbial fermentation is emerging as an advantage over chemical synthesis of malic acid. The utilization of renewable substrates as a substitute to glucose is being emphasized as a key aspect for a competitive bio-based production of malic acid.
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Amid poor market sentiments caused by the coronavirus crisis, the growing need to improve physical performance and the overall well-being of individuals is triggering the demand for malic acid supplements. The market is projected to reach 79,645.3 tons by 2031. However, there is a lack of more recent research on malic acid’s effectiveness as a fibromyalgia treatment. Hence, companies in the malic acid market are boosting their efforts in research, and increasing awareness about malic acid in combination with magnesium, which is known to alleviate pain and tenderness in people with fibromyalgia.
In addition, F&B applications are creating stable income sources for manufacturers.
Malic Acid Market: Overview
- Malic acid is a chemical found in certain foods and wines. It is also manufactured in synthetic manner by using various raw materials such as malic anhydride, caustic lye, and HCL acid. There are three different types of malic acid: L-Malic acid, D-Malic acid, and DL-Malic acid.
- According to Transparency Market Research’s latest research report on the global malic acid market for the actual year of 2020, and the forecast period of 2021 to 2031, rise in usage of malic acid in end-use industries such as packaging, agriculture & fishery, and consumer goods is a key factor expected to boost the global malic acid market during the forecast period
- In terms of revenue, the global malic acid market is expected to cross US$ 1.35 Bn by 2031, expanding at a CAGR of 4.4% during the forecast period
Growth of Food & Beverages Industry: Key Driver of Malic Acid Market
- The food & beverages industry plays a major role in economic growth. The global food & beverages industry has been expanding significantly of late. Rise in demand for food additives for taste and flavor enhancement in developed as well as developing countries is a key driver of the global food & beverages industry. Rise in urbanization; and increase in disposable income of the people who prefer diverse culinary styles have also contributed to the rise in the demand for food additives. This is expected to fuel the food industry during the forecast period.
- Malic acid is the key ingredient used as flavor enhancer in food and beverages such as juices, confectionery products, desserts, and bakery products. It has the ability to enhance flavor by providing tart taste to food and beverages; and act as preservative. As a result, it is commonly added in wine. It is also used as replacement of less sour citric acid in sour sweets. The U.S. Food and Drug Administration (FDA) has classified malic acid as food ingredient that is generally recognized as safe. Flavor enhancers and preservatives are widely used in the food industry. Malic acid is used to meet the requirements of flavor enhancer. This is fueling the demand for malic acid in the food & beverages industry.
- Malic acid is largely used as a food additive. Increase in demand of food preservatives in the food industry in emerging economies such as China, India, Russia, Brazil, and South Africa is anticipated to augment the global food & beverages industry in the near future. Therefore, high demand for food additives in the food & beverages industry is expected to propel the global malic acid market during the forecast period.
Increase in Demand for Malic Acid in Medicinal & Personal Care Products
- Demand for healthcare and personal care products has increased significantly over the past few years. Rise in population is expected to boost the usage of personal care products in the near future. Furthermore, improvement in lifestyle and high disposable income of consumers are anticipated to fuel the demand for personal care product across the globe.
- The global cosmetics & personal care products industry is expanding at a CAGR of more than 5%, owing to changing lifestyle, increase in disposable income of consumers, and growth in awareness about skin care products. Thus, expansion of the cosmetics & personal care industry is anticipated to augment the malic acid market during the forecast period. Malic acid is used in the manufacture of personal care products such as body creams, scrubs, and soaps. It acts as humectant in these products. It is usually employed as absorbent in cosmetics owing to its ability to absorb moisture.
- The global healthcare industry is expanding at a CAGR of more than 7%, owing to increasing prevalence of diseases due to rise in busy and sedentary lifestyles. Thus, expansion of the healthcare industry is anticipated to augment the malic acid market during the forecast period, as malic acid is widely used in healthcare products such as throat lozenges, cough syrups, effervescent powdered preparations, toothpastes, and mouthwashes.
Rise in Use of Malic Acid in Food & Beverages Industry
- In terms of application, the food & beverages segment held major share of the malic acid market in 2020. The juices & beverages sub-segment of the food & beverages segment holds significant share and is expected to expand at a CAGR of 5.1% during the forecast period.
- Other highly lucrative application segments of the malic acid market include medicinal & personal care and chemicals (oil field & plastic)
Malic Acid Market: Competition Landscape
- Detailed profiles of providers of malic acid have been included in the report to evaluate their financials, key product offerings, recent developments, and strategies
- Key players operating in the global malic acid market are
- Bartek Ingredients Inc.
- Changmao Biochemical Engineering Co. Ltd
- Fuso Chemicals Co., Ltd
- Isegen South Africa (Pty) Ltd
- Thirumalai Chemicals Co. Ltd
- Anhui Sealong Biotechnology Co., Ltd
- Prinova Group LLC.
- YONGSAN CHEMICALS, INC.
- Polynt SpA
- Miles Chemical
- Zhonglan Industry Co.,Ltd.
Malic Acid Market: Key Developments
- Key providers of malic acid, such as Bartek Ingredients Inc., Polynt SpA, and Changmao Biochemical Engineering Co. Ltd., are focusing on different strategies to meet the demand for malic acid in various applications. Prominent developments in the malic acid market across the globe are highlighted below:
- In May 2021, Thirumalai Chemicals Co. Ltd. announced its plans to execute a project to manufacture 180,000 tons of Phthalic Anhydride (PA) and 30,000 tons of fine and specialty chemicals per year at its existing site at Dahej, Gujarat, West India. The project would be implemented in two successive phases.
- In July 2020, Polynt SpA announced its decision to build a 50,000 ton capacity Greenfield maleic anhydride plant at its Morris, Illinois, site. The plant is expected to serve Polynt consumption for composites and other malic derivatives already produced in Europe and Asia.
- In the global malic acid market report, we have discussed individual strategies, followed by company profiles of providers of malic acid. The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the global malic acid market.
Malic Acid Market – Scope of Report
The latest study collated and published by Transparency Market Research (TMR) analyzes the historical and present-day scenario of the global malic acid market in order to accurately gauge its future growth. The study presents detailed information about the important growth factors, restraints, and trends that are creating a landscape for the growth of the global malic acid market so as to identify growth opportunities for market stakeholders. The report also provides insightful information about how the global malic acid market would expand during the forecast period of 2021 to 2031.
The report offers intricate dynamics about different aspects of the global malic acid market, which aids companies operating in the market in making strategic development decisions. TMR’s study also elaborates on significant changes that are highly anticipated to configure growth of the global malic acid market during the forecast period. It also includes a key indicator assessment that highlights growth prospects of the global malic acid market and estimates statistics related to growth of the market in terms of volume (tons) and value (US$ Mn).
This study covers a detailed segmentation of the global malic acid market, along with key information and a competition outlook. The report mentions company profiles of players that are currently dominating the global malic acid market, wherein various development, expansion, and winning strategies practiced and implemented by leading players have been presented in detail.
Key Questions Answered in TMR’s Report on Malic Acid Market
The report provides detailed information about the global malic acid market on the basis of comprehensive research on various factors that are playing a key role in accelerating the growth potential of the global market. Information mentioned in the report answers path-breaking questions for companies that are currently operating in the market and are looking for innovative methods to create a unique benchmark in the global malic acid market, so as to help them design successful strategies and make target-driven decisions.
- Which application segment of the global malic acid market would emerge as a major revenue generator during the forecast period?
- How are key market players successfully earning revenue out of the advantages of malic acid?
- What would be the Y-o-Y growth trend of the global malic acid market between 2021 and 2031?
- What are the winning imperatives of leading players operating in the global malic acid market?
- Which segment is expected to create lucrative opportunities for the global malic acid market during the forecast period?
- Which are the leading companies operating in the global malic acid market?
Research Methodology – Malic Acid Market
The research methodology adopted by analysts for compiling the global malic acid market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts for the global malic acid market.
During the primary research phase, analysts interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine sources, analysts have emphasized the changing scenario of the global malic acid market.
For secondary research, analysts scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global malic acid market.
Malic Acid Market – Segmentation
TMR’s research study assesses the global malic acid market in terms of form, type, application, and region. This report presents extensive market dynamics and trends associated with different segments of the market and how they are influencing growth prospects of the global malic acid market.