Fumaric Acid Market Size – USD 669.0 Million in 2019, Growth - CAGR of 5.1%, Trends – High demand in food industry.
Growing Popularity In The Energy Drinks Among Athletes And Fitness Conscious Population Has Spurred The Growth Of The Fumaric Acid.
The global Fumaric Acid market is forecast to reach USD 974.4 Million by 2027, according to a new report by Reports and Data. The growing popularity in the energy drinks among athletes and fitness conscious population has spurred the growth of the Fumaric Acid. The increase in the application of the acid in various end-use industries has encouraged its growth, particularly the boost from the food and beverage industry. The market product plays a crucial role in the manufacture of energy drink, for stabilizing the beverage and maintaining its quality over time.
The COVID-19 impact:
COVID-19 has impacted the market negatively. The weaker consumer demand for lifestyle and well-being products due to the imposition of lockdown and social restrictions will have a negative impact on the demand for cosmetics and certain food additives. The COVID-19 pandemic has crippled various industries, along with public construction. The activity will more likely cease due to the imposition of lockdown and social distancing, and work will halt due to the supply chain disruption, the termination of contracts to control expenses, and the shortage of subcontractors and materials. However, the ease in restrictions and the government initiatives to start the economic activities in the consumer goods market creates hope for the imminent recovery of the market.
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Top Companies Profiled in the Report: Prinova LLC, Dastech International Inc., Bartek Ingredients, Polynt S.P.A, Thirumalai Chemicals, Fuso Chemicals, Xilong Chemical Company Ltd., Tianjin Bohai Chemicals, Nippon Shokubai Co. Ltd., and The Chemical Company, among others.
Further Key Finding From the Report Suggestion:
Fumaric Acid is used in oral pharmaceutical formulations and has been found useful in the treatment of psoriasis. Adults with moderate to severe psoriasis can be treated with Fumaric Acid esters. It is also used in treating patients with systemic lupus and severe disseminated granuloma annulare. The pharmaceutical sector is expected to grow with a CAGR of 5.0% during the forecast period.
Currently, Fumaric Acid is produced chemically from maleic anhydride, which in turn is produced from butane. However, as petroleum prices rise rather quickly, maleic anhydride as a petroleum derivative increased its price as well. However, the current drastic fall in the price of petroleum during the COVID-19 crisis can propel the demand for the production of Fumaric Acid by maleic anhydride.
Fumaric Acid has proven to be an effective additive to piglet feed during the post-weaning period. The inclusion of the acid and the resultant adjustment of the pH value demonstrate improvement in weight gain, feed conversion ratio and food consumption. The animal feed segment is forecasted to grow with a CAGR of 4.4% during the forecast period.
The widespread construction activity in the European region is driving the demand in the region. The reconstruction and remodeling activities in the continent is creating a huge demand for unsaturated polyester resin. Germany, Italy, the UK, and France were the major consumers of the market product.
Regional Outlook
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- The Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Market Segmentation:
Extraction Type Outlook (Revenue, USD Million; 2017-2027)
- Fumaria Officinalis
- Maleic Anhydride
- Fermentation
Application Outlook (Revenue, USD Million; 2017-2027)
- Food Additive
- Rosin Paper Sizes
- Unsaturated Polyester Resins (UPR)
- Alkyd Resins
- Animal Feed
- Others
End Use Industry Outlook (Revenue, USD Million; 2017-2027)
- Food and Beverage
- Cosmetic
- Pharmaceutical
- Chemicals
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Table of Contents:
Report Overview
1.1 Research Scope
1.2 Key Fumaric Acid market segments
1.3 Major players
1.4 Market analysis by product type
1.5 Market analysis by application
1.6 Report timeline
Global Growth Trends
2.1 Global Fumaric Acid market size
2.2 Latest regional market trends
2.3 Emerging growth trends
Competitive Outlook
3.1 Global Fumaric Acid market key players
3.2 Global Fumaric Acid size by manufacturers
3.3 Products of major players
3.4 Entry barriers in the Fumaric Acid market
3.5 Mergers, acquisitions, joint ventures, and other strategic alliances
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