Global Malic Acid Market was valued US$0.17 Bn in 2017 and is estimated to reach US$0.28 Bn by 2026 at a CAGR of more than 6.44% during a forecast period.
Global Malic Acid Market is segmented by Type, by Application, and by Region.
Malic Acid Market by type segment is classified into L-Malic Acid, D-Malic Acid, and DL-Malic Acid. By application, segment is classified into Food & Beverages, Chemical Industry, and Cosmetics Industry. Geographically split into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
Based on the type the DL-malic acid segment is expected to grow at the highest CAGR during the forecast period. DL-malic acid is expected to register the fastest growth rate owing to the growing demand for sports supplements, nutritional drinks, food, beverage, and agriculture animal feed across the globe. It has the extensive range of applications and growing penetration of DL-malic acid in cosmetic and food industry is expected to facilitate the remarkable growth in the global malic market within the forecast period.
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Based on the application the food & beverages segment headed the Malic Acid market. Changing food preferences, urbanization and population explosion are expected to propel the demand for malic acid in food & beverages applications. This growth is attributed to rising in demand for chocolates and junk products in every corner of the globe. Moreover, use of malic acid for treating skin disease and cancer is anticipated to boost the demand of malic acid in upcoming years.
Changing consumer preferences regarding food & beverages has increased the demand for a number of flavor enhancers and additives. Urbanization, the rapid growth of the food and beverages industry, huge end-use industry penetration in the region along with a presence of the considerable number of producers coupled with cheap labor cost and increasing demand for food from increasing population Urbanization has also increased the demand for canned foods and takeaway foods. These factors have been driving the demand for food preservatives and are anticipated to drive the growth of the malic acid market over the forecast period.
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Asia Pacific Malic Acid market is projected to grow at the highest CAGR during the forecast period. Asia-Pacific is the major market for malic acid in the world owing to various factors such as urbanization, the rapid growth of the food and beverages industry, huge end-use industry penetration in the region along with a presence of the considerable number of producers coupled with cheap labour cost and increasing demand for food from increasing population. All other regions are following to contribute the growth in the Malic Acid market.
The report includes detailed profiles of the prominent market players that are trending in the market. Fuso Chemicals, Bartek, Isegen, Polynt, Thirumalai Chemicals, Yongson Chemicals, MC Food Specialties Inc., Tate & Lyle, Changmao Biochemical Engineering, Sealong Biotechnology, and Jinhu Lile Biotechnology Industry Co.Ltd., among others.
Scope of the Global Malic Acid Market
Global Malic Acid Market By Type:
Global Malic Acid Market By Application:
Food & Beverages
Global Malic Acid Market By Region:
The Middle East and Africa
Key Player analyzed in the Global Malic Acid Market:
MC Food Specialties Inc.
Tate & Lyle
Changmao Biochemical Engineering
Jinhu Lile Biotechnology Industry Co.Ltd.