Malic Acid is projected to grow at a CAGR over 4.70% during the period 2019-2023
Malic Acid Market Research, Competitor Strategy, Industry Trends and Forecast to 2023
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Copyright © 2017 Market Research Future.
Malic Acid is projected to grow at a CAGR over 4.70% during the period 2019-2023
Summary Malic acid is largely known as the organic compound that adds a sour taste to fruits. Naturally occurring, malic acid often and most commonly used as a food additive and has applications in several other end-use industries including pharmaceuticals and personal care products. Market Research Future has published its latest report on the global malic acid market which is reported to display an average, yet consistent CAGR of 4.70% over the forecast period from 2019 to 2023. Used as an additive, malic acid has witnessed consistent demand over the years and is likely to generate a market value of USD 217.8 by the end of 2023.
Key Players: The major participants of this market are:
Corbion NV, Polynt S.p.A, Anhui Sealong Biotechnology Co. Ltd., Bartek Ingredients Inc., Fuso Chemical Co., Ltd, Changmao Biochemical Engineering Company Limited, Yongsan Chemicals, Inc., Thirumalai Chemicals Ltd, Tate & Lyle, Isegen South Africa (Pty) Ltd.
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Copyright © 2017 Market Research Future.
Malic Acid is projected to grow at a CAGR over 4.70% during the period 2019-2023
Market Overview Malic acid is naturally sourced from fruits and vegetables and is used widely in the F&B sector to enhance flavor and add tartness to a variety of confectionery, beverages, and bakery products. The rapid and consistent growth of the food & beverage industry has been a significant influencer of growth for the global malic acid market. In F&B applications, malic acid is used to achieve the right pH, anti-microbial properties and enhance flavors. Increasing demand for convenient, packaged food and beverage products due to changing lifestyles and growing disposable income has contributed to the increase in demand for malic acid. Additionally, malic acid has uses in biochemistry which is further applied in personal care products. Increased use of multifunctional ingredients in hair and skin care is expected to catapult demand for malic acid.
Market Segmentation: MRFR's detailed analysis includes a breakdown of the various parts of the market which have been segmented on the basis of type, end-use, and region. Types of malic acid have broadly been segmented into L-malic acid, DL-malic acid, and D (+)-malic acid. Among these, the DL-malic acid segment has secured the most significant share of the market due to its rising applications in food, beverages animal feed, and agriculture among others. The segment will advance at a CAGR of 4.81% during the assessment period. End-use industries where malic acid is used have been segmented into personal care, food & beverage, pharmaceuticals, and others. The F&B segment is expected to display the highest revenue over the forecast period of USD 137.9 Mn by 2023 and grow at the fastest pace. Meanwhile, the personal care segment is at a close second to F&B and will continue to grow as awareness regarding wellbeing and hygiene increases.
Latest Industry News: •
TorQuest Partners have officially acquired malic acid manufacturer Bartek Ingredients.
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Copyright © 2017 Market Research Future.
Malic Acid is projected to grow at a CAGR over 4.70% during the period 2019-2023
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Copyright © 2017 Market Research Future.