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The Asia Pacific was the largest regional market, on the basis of demand, in the year 2020 and is expected to continue being a significant market over the forecast period. The market is driven by the rising popularity of processed food and ready-to-drink beverages. Within the Asia Pacific, emerging economies such as Thailand and Indonesia are observing increased urbanisation, which is strengthening the market further. Also, several factors, such as massive demand for convenience food, inflating disposable income of middle-class strata, and booming population, among others, are expected to accelerate the market growth.
Nippon Shokubai Co. (Other OTC: NPSHY) and Bartek Ingredients Inc., are the key players in the fumaric acid industry. Nippon Shokubai Co. had previously acquired a halal certification for the raw materials and production processes of food-related companies. The company had acquired halal certification for its fumaric acid, succinic acid, SS50 brand of disodium succinate, and also maleic anhydride, which is used as a raw material to manufacture these products. The certification was provided by the Japan Muslim Association on the basis of tests conducted by the Shariah Research Institute at Takushoku University in Japan. The certification process has invigorated the establishment of the company since then and continues to make other processes in relation to certification easier.
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Bartek Ingredients Inc., Prinova Group LLC., Fuso Chemical Co., Ltd., and Polynt SpA, among others, are the key players in the global fumaric acid market. The EMR report looks into the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.
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