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Global Fumaric Acid Market: By Application: Food Additives, Rosin-Sized Sheathing Paper, Unsaturated Polyester Resins, Alkyd Resins; By End Use Industry: Food and Beverages, Cosmetics, Others; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics; Competitive Landscape; Industry Events and Developments
Global Fumaric Acid Market Outlook
The global fumaric acid market reached a value of almost USD 660.2 million in the year 2020. The market is further expected to grow at a CAGR of 4.8% between 2021 and 2026 to reach a value of almost USD 874.7 million by 2026.
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The global fumaric acid market is driven by the growing popularity of processed food and demand for ready-to-drink beverages. On the basis of demand, the Asia Pacific held the largest regional share in 2020 and is expected to continue being a dominant region in the forecast period, due to a huge demand for convenience food, along with a rise in per capita middle-class disposable income and population boost. The rising construction and remodelling activities in the region will fuel the market growth. Developing economies of the Asia Pacific, including Thailand and Indonesia, are witnessing increased construction and remodelling activities, further enhancing the global fumaric acid market.
North America accounted for a significant market share in 2020 but is expected to witness a restricted growth in the coming years owing to stringent government regulations. However, the rising demand for paints within Europe and North America, used during the construction of residential as well as commercial structures, is expected to boost the global fumaric acid market in the forecast period.
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Market Segmentation
Fumaric acid, having the chemical formula, C4H4O4, is produced through the oxidation of succinic acid, with the help of succinate dehydrogenase. It is a dicarboxylic acid, which is found naturally in the form of a colourless crystalline powder in eukaryotes, bolete mushrooms, lichens, and Iceland moss. It also occurs in the human body when the skin comes in come in contact with direct sunlight. It is widely used as a food additive due to its sour taste.
Fumaric acid finds wide applications in the following segments:
- Food Additives
- Rosin-Sized Sheathing Paper
- Unsaturated Polyester Resins
- Alkyd Resins
- Others
The end-use industries can be segmented as follows:
- Food and Beverages
- Cosmetics
- Pharmaceuticals
- Chemicals
The report also covers the regional markets like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Market Analysis
The global fumaric acid market is driven by the increasing standards of living, along with economic development, especially in emerging economies of the Asia Pacific region such as India and China. The rising fuel consumption of processed food and beverages within developing countries is expected to support the global industry growth. The growing inclination towards nutritional diet is expected to impact the industry growth for processed food and beverages positively and further impacting the fumaric acid industry.
The introduction of extensive flavours, such as exotic and ethnic flavours within the food and beverages industry, is expected to drive the market. Further, the industry is accelerated by the rising construction and remodelling activities in emerging economies of the Asia Pacific and Latin America. The demand for paints will augment the industry for construction activities. As a result, increasing construction activities are expected to boost paints and UPR demand, accelerating the fumaric acid market.
The increase in automobile production across the globe is expected to have a positive impact on the industry. Accelerating application in pharmaceuticals is estimated to invigorate the growth of the global fumaric acid market. It is considered to be a potential substitute for synthetic organic acids like citric acid and tartaric acid to be used in fruit syrups and snacks, creating growth opportunities for the forecast period. Although the strict government regulations due to the rising environmental concerns are expected to obstruct the industry growth of fumaric acid, the rising investments in research to create bio-based fumaric acid will provide major opportunities for industry participants. Additionally, the popularity of nutritional bars and cereals will provide lucrative opportunities for the industry participants, further aiding the market growth.
Competitive Landscape
The report gives a detailed analysis of the following key players in the global fumaric acid market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Bartek Ingredients Inc.
- Prinova Group LLC.
- Fuso Chemical Co., Ltd.
- Polynt SpA
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Application, End Use Industry, Region |
| Breakup by Application | Food Additives, Rosin-Sized Sheathing Paper, Unsaturated Polyester Resins, Alkyd Resins, Others |
| Breakup by End Use Industry | Food and Beverages, Cosmetics, Pharmaceuticals, Chemicals |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Price Analysis | Historical and Forecast Price Trends- Regional |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Bartek Ingredients Inc., Prinova Group LLC., Fuso Chemical Co., Ltd., Polynt SpA, Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Fumaric Acid Market Analysis
8.1 Key Industry Highlights
8.2 Global Fumaric Acid Historical Market (2018-2022)
8.3 Global Fumaric Acid Market Forecast (2023-2028)
8.4 Global Fumaric Acid Market by Application
8.4.1 Food Additives
8.4.1.1 Historical Trend (2018-2022)
8.4.1.2 Forecast Trend (2023-2028)
8.4.2 Rosin-Sized Sheathing Paper
8.4.2.1 Historical Trend (2018-2022)
8.4.2.2 Forecast Trend (2023-2028)
8.4.3 Unsaturated Polyester Resins
8.4.3.1 Historical Trend (2018-2022)
8.4.3.2 Forecast Trend (2023-2028)
8.4.4 Alkyd Resins
8.4.4.1 Historical Trend (2018-2022)
8.4.4.2 Forecast Trend (2023-2028)
8.4.5 Others
8.5 Global Fumaric Acid Market by End Use Industry
8.5.1 Food and Beverages
8.5.1.1 Historical Trend (2018-2022)
8.5.1.2 Forecast Trend (2023-2028)
8.5.2 Cosmetics
8.5.2.1 Historical Trend (2018-2022)
8.5.2.2 Forecast Trend (2023-2028)
8.5.3 Pharmaceuticals
8.5.3.1 Historical Trend (2018-2022)
8.5.3.2 Forecast Trend (2023-2028)
8.5.4 Chemicals
8.5.4.1 Historical Trend (2018-2022)
8.5.4.2 Forecast Trend (2023-2028)
8.6 Global Fumaric Acid Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2022)
8.6.1.2 Forecast Trend (2023-2028)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2022)
8.6.2.2 Forecast Trend (2023-2028)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2022)
8.6.3.2 Forecast Trend (2023-2028)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2022)
8.6.4.2 Forecast Trend (2023-2028)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2022)
8.6.5.2 Forecast Trend (2023-2028)
9 North America Fumaric Acid Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
10 Europe Fumaric Acid Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.3 France
10.3.1 Historical Trend (2018-2022)
10.3.2 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Historical Trend (2018-2022)
10.4.2 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Fumaric Acid Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2022)
11.1.2 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Historical Trend (2018-2022)
11.2.2 Forecast Trend (2023-2028)
11.3 India
11.3.1 Historical Trend (2018-2022)
11.3.2 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Historical Trend (2018-2022)
11.4.2 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Historical Trend (2018-2022)
11.5.2 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Fumaric Acid Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2022)
12.1.2 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Historical Trend (2018-2022)
12.2.2 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Historical Trend (2018-2022)
12.3.2 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Fumaric Acid Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2022)
13.1.2 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2022)
13.2.2 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Historical Trend (2018-2022)
13.3.2 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Historical Trend (2018-2022)
13.4.2 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Price Analysis
17 Manufacturing Process
17.1 Overview
17.2 Detailed Process Flow
17.3 Operation Involved
18 Competitive Landscape
18.1 Market Structure
18.2 Company Profiles
18.2.1 Bartek Ingredients Inc.
18.2.1.1 Company Overview
18.2.1.2 Product Portfolio
18.2.1.3 Demographic Reach and Achievements
18.2.1.4 Certifications
18.2.2 Prinova Group LLC.
18.2.2.1 Company Overview
18.2.2.2 Product Portfolio
18.2.2.3 Demographic Reach and Achievements
18.2.2.4 Certifications
18.2.3 Fuso Chemical Co., Ltd.
18.2.3.1 Company Overview
18.2.3.2 Product Portfolio
18.2.3.3 Demographic Reach and Achievements
18.2.3.4 Certifications
18.2.4 Polynt SpA
18.2.4.1 Company Overview
18.2.4.2 Product Portfolio
18.2.4.3 Demographic Reach and Achievements
18.2.4.4 Certifications
18.3.5 Others
19 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Fumaric Acid Market: Key Industry Highlights, 2018 and 2028
2. Global Fumaric Acid Historical Market: Breakup by Application (USD Million), 2018-2022
3. Global Fumaric Acid Market Forecast: Breakup by Application (USD Million), 2023-2028
4. Global Fumaric Acid Historical Market: Breakup by End Use Industry (USD Million), 2018-2022
5. Global Fumaric Acid Market Forecast: Breakup by End Use Industry (USD Million), 2023-2028
6. Global Fumaric Acid Historical Market: Breakup by Region (USD Million), 2018-2022
7. Global Fumaric Acid Market Forecast: Breakup by Region (USD Million), 2023-2028
8. North America Fumaric Acid Historical Market: Breakup by Country (USD Million), 2018-2022
9. North America Fumaric Acid Market Forecast: Breakup by Country (USD Million), 2023-2028
10. Europe Fumaric Acid Historical Market: Breakup by Country (USD Million), 2018-2022
11. Europe Fumaric Acid Market Forecast: Breakup by Country (USD Million), 2023-2028
12. Asia Pacific Fumaric Acid Historical Market: Breakup by Country (USD Million), 2018-2022
13. Asia Pacific Fumaric Acid Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Latin America Fumaric Acid Historical Market: Breakup by Country (USD Million), 2018-2022
15. Latin America Fumaric Acid Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Middle East and Africa Fumaric Acid Historical Market: Breakup by Country (USD Million), 2018-2022
17. Middle East and Africa Fumaric Acid Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Global Fumaric Acid Market Structure
Key Questions Answered in the Report
The global fumaric acid market reached a value of USD 660.2 million in 2020.
The industry is projected to grow at a CAGR of nearly 4.8% in the forecast period of 2023-2028.
The industry is estimated to reach a value of about USD 874.7 million by 2026.
The major drivers of the industry include rising disposable incomes, increasing population, improved standards of living, the rising consumption of processed food and beverages, and increased demand from the automobile and construction industries.
The growing investments into R&D for developing bio-based fumaric acid are expected to be the key trends informing the market growth in the coming years.
North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa are the leading regions in the market.
The major application sectors in the market are food additives, rosin-sized sheathing paper, unsaturated polyester resins, and alkyd resins, among others.
The major end use industries in the industry can be segmented into food and beverages, cosmetics, pharmaceuticals, and chemicals.
The leading players in the market are Bartek Ingredients Inc., Prinova Group LLC., Fuso Chemical Co., Ltd., and Polynt SpA, among others.
Analyst Review
The global fumaric acid market attained a value of USD 660.2 million in 2020, driven by the improved living standards of the consumers. Aided by the rising consumption of processed food and beverages, the industry is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 4.8%. The industry is projected to reach USD 874.7 million by 2026.
EMR’s meticulous research methodology delves deep into the industry, covering the macro and micro aspects of the industry. Based on its applications, the global fumaric acid market can be segmented into food additives, rosin-sized sheathing paper, unsaturated polyester resins, and alkyd resins, among others. On the basis of end use industries, the industry can be segmented into food and beverages, cosmetics, pharmaceuticals, and chemicals. The major regional markets for fumaric acid are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above industry include Bartek Ingredients Inc., Prinova Group LLC., Fuso Chemical Co., Ltd., and Polynt SpA, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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