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Global Fumaric Acid Market Expected to Reach USD 874.7 Million by 2026, Aided by the Rising Consumption of Processed Food

According to a new report by EMR titled, 'Global Fumaric Acid Market Report and Forecast 2021-2026', the global market for fumaric acid reached a value of almost USD 660.2 million in 2020. The market is further expected to grow at a CAGR of 4.8% in the forecast period of 2021-2026 to reach USD 874.7 million by 2026.

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.

Market Analysis by Application, End Use, and Region:

  • By application, the market is segmented into food additives, rosin-sized sheathing paper, unsaturated polyester resins, and alkyd resins, among others.
  • The market, on the basis of end use, is divided into the cosmetics, food and beverages, and pharmaceuticals, among others.
  • Regionally, the market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for fumaric acid is driven by the enhancing living standard, coupled with economic development, particularly in the developing economies within the Asia Pacific, such as India and China. 
  • The increasing fuel consumption of processed food and beverages in the emerging countries will support the fumaric acid industry globally.
  • The market is aided by the rising shift to the nutritional diet, which is expected to influence the market positively by increasing the market for fumaric acid.
  • The launch of new flavours, such as exotic and ethnic flavours in the food and beverage market, is acting as a catalyst for the fumaric acid industry.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for fumaric acid for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the applications, end-uses, and regional markets of fumaric acid. 
  • It gives an in-depth look at the price trends in the fumaric acid industry.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

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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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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