Report Code : A31640
The global malic acid market is expected to possess high growth potential in the coming years, as malic acid is an organic chemical compound that holds excellent properties such as antioxidant, preservative, exfoliant, and flavor enhancer owing to which it has a high demand in food and beverages sector. Furthermore, the growing demand for confectionary food items such as jam, jellies, candy, dairy products, and others has increased in countries such as the U.S., China, India, and others where malic acid is used as a food additive and preservative. This factor is anticipated to drive the malic acid market during the forecast period. In addition, the well-establishment of the chemical industry, the availability of raw materials at reduced prices, and the arrival of local players have led manufacturers to offer malic acid at low prices. This factor is predicted to create remunerative opportunities for the expansion of the malic acid market in the future. However, the outbreak of the COVID
Yerukola Eswara Prasad - Manager
Materials and Chemicals at Allied Market Research
According to a new report published by Allied Market Research, titled, “Malic Acid Market," The malic acid market was valued at $187.60 million in 2021, and is estimated to reach $279.8 million by 2031, growing at a CAGR of 4.1% from 2022 to 2031.
The global malic acid market forecast was valued at $187.6 million in 2021, and is projected to reach $279.8 million by 2031, growing at a CAGR of 4.1% from 2022 to 2031.
Malic acid is a four-carbon dicarboxylic acid and the most promising building block chemical which is extensively produced from renewable sources. It exists naturally in fruits such as apples, grapes, cherries, and others, Malic acid finds a wide range of applications in various end-use industries such as food & beverage, pharmaceutical, medical, bakery products, confectionery, and others.
The wide range of applications of malic acid in the food processing industry, chemicals, laboratories, pharmaceuticals, cosmetics, and others is the key market trend for the malic acid market. In response to this, malic acid is generally used in the food processing industry as a food additive and preservative. These factors are contributing toward the growth of the malic acid market during the forecast period.
However, rise in concern in the food processing industry and surge in consumer demand for natural additives containing packaged food are projected to affect the market growth for D-malic acid during the forecast period. Malic acid and its salts are considered a strongly irritant to the skin and mucosa and a particular risk to the eyes.
Extensive use of malic acid product in the research & development filed and formulation of various pharmaceutical drug, vitamins, essential oil, and among others are expected boost the growth of the market. These factors together are projected to create remunerative opportunities for the expansion of the malic acid market during the forecast period. The malic acid market is segmented on the basis of type, application, and region.
By type, the market is segregated into L-malic acid, D-malic acid, and LD-malic acid. The LD-malic acid segment dominated the global market in terms of revenue in 2021, with 40% of the total share. LD-malic acid is also known as racemic mixture of malic acid and it is obtained by naturally and synthetically due to which it is most preferred malic acid across the globe. In addition, several key manufacturers have increased the production capacities for LD-malic acid owing to rising demand from medical, manufacturing, food and beverages, and others. For instance, Xtend-Life company offers LD-malic acid-containing pharmaceutical products, such as Zoopafood ELITE, Zupafood GREENZ, Natural Energy, and others. Malic acid containing these products are offering new opportunities for the market.
According to data published by Invest India in October 2022, the FDI equity inflow in the food processing sector for the period of March 2021-2022 was $709.72 million. Furthermore, Growing demand for Chinese and continental foods has enhanced the demand for LD-malic acid where it is used as an acidulant and flavoring agent in the food processing industry. These are supporting factors for the growth of LD-malic acid; thus, offering the most lucrative opportunities for the market.
By application, the global malic acid market is segmented into food & beverage, personal care & cosmetics, pharmaceutical, and others. The food & beverages application dominated the global market in terms of revenue in 2021, with 62% of the total share. This is due to the surge in population across the globe, increase in disposable income among people, and rapid shift in the consumer preference for different types of fruit juices, and carbonated drinks have enhanced the performance of malic acid. It is widely used to enhance the sweetness or tartness of fruit and vegetable juices, carbonated soft drinks, jams, wines, and candies. It also acts as a flavor blender and creates a smoother and more natural-tasting flavor profile in various types of drinks. This factor is projected to drive the growth of the malic acid market during the forecast period.
Moreover, establishment of food processing industry have spurred the demand for artificial sweeteners where LD-type of malic acid is extensively used. In addition, growing demand for confectionary, sweets, candy, jellies, and jams in countries such as the U.S., and India has surged the demand for malic acid. For instance, according to an article published by OEC in 2020, homogenised jams, jellies, and others were the world's 2480th most traded product, with a total trade of $587 million. In 2019 and 2020 the exports of homogenised jams, jellies, and other products grew by 5.27%, from $557 million to $587 million. This factor is expected to enhance the demand for malic acid during the forecast period.
Region-wise, the malic acid market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific region for malic acid market is projected to grow at the highest CAGR during the forecast period. This is attributed to the fact that, countries such as China, India, Japan, South Korea, and others have well-established textile and industrial sectors due to which it has spurred the demand for malic acid. Factors such as the growing population across the globe, rise in fashion trends among people, and adoption of western culture have surged the textile industry where malic acid is used as a textile finishing and fabricating agent.
In addition, well established industrial sector and robust demand for metals from various industries have increased the need for metal. Malic acid is sued in metal processing applications and is also used in the pickling and descaling treatments of metals. This factor is expected to enhance the overall demand for malic acid in the Asia-Pacific region. The countries such as India and Japan have witnessed the significant growth of malic acid in food packaging, cosmetics, research, and laboratories industries. These factors are escalating the demand for malic acid; thus, creating lucrative opportunities for the market.
Key players operating in the global malic acid market include Anhui Sealong Biotechnology Co., Ltd., Bartek Ingredients Inc., Changmao Biochemical Engineering Company Limited., FUSO CHEMICAL CO., LTD., ISEGEN South Africa (Pty) Ltd., POLYNT SPA, Prinova Group LLC., Thirumalai Chemicals Ltd., YONGSAN CHEMICALS, INC., and Zhonglan Industry Co., Ltd.
Key Findings:
By type, the LD-malic acid type segment is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 4.1% from 2022 to 2031.
By application, the food & beverages application is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 4.0% from 2022 to 2031.
By region, Asia-Pacific garnered the highest share of 46% in 2021, in terms of revenue, growing at a CAGR of 4.8%.
COVID-19 Impact On The Malic Acid Market:
COVID-19 had a moderate impact on the malic acid market due to a significant decrease in the potential sales of the food and beverages industry and cosmetics industry. However, the pharmaceutical industry had a positive impact during the pandemic, key factors such as government support for the pharmaceutical industry and high consumption of healthy fruit juice, and vegetables have increased during COVID-19 owing to the health benefits associated with them. In addition, the growing demand for personal care and cosmetics products among consumers has strengthened the market post-COVID-19.
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Malic Acid Market by Type (L-Malic Acid, D-Malic Acid, LD-Malic Acid), by Application (Food and Beverages, Personal care and Cosmetics, Pharmaceutical, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
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