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Fumaric Acid Market

Fumaric Acid Market Size, Share Report Analysis by Extraction Type (Fumaria Officinalis, Maleic Anhydride, Fermentation), by Application, by End-Use & by Region – Global Forecast 2022-2032

Analysis of Fumaric Acid market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Fumaric Acid Market Outlook

The fumaric acid market valuation is anticipated to grow at a CAGR of 6.7% over the forecast period i.e., 2022 to 2032. Global fumaric acid sales valuation is set to reach US$ 645 Mn by 2032 end, which amounts to approx. 1.2% of the overall food additive sales as per the latest study by Fact.MR - a market research and competitive intelligence provider.

The growth of fumaric acid market is attributed to food and beverage industry, which capture the demand share of nearly a quarter of the overall market. Apart from their application in the food and beverage industry, fumaric acid finds remarkable applications in industries such as plasticizers industry, polymer industry, petrochemical industry, paints industry, rubber industry, and chemical industry, among others, while manufacturing a huge variety of products.

These aforementioned factors are set to provide impetus to the fumaric acid market in the medium- and long-run forecast period.

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Fumaric Acid Report Scope

Attribute Details
Market size value in 2021 USD 440 Million
Market forecast value in 2032 USD 645 Million
Global Growth Rate CAGR 6.7%
Top 5 Companies Market Share ~65%
Key Companies Profiled
  • Bartek Ingredients
  • Thirumalai Chemicals
  • Polynt S.P.A
  • Nippon Shokubai Co. Ltd.
  • Tianjin Bohai Chemicals
  • The Chemical Company
  • Wego Chemical Group
  • Changzhou Yabang Chemical Co. Ltd.

The industry research performed by Fact.MR delves on key insights such as current and speculative production capacity, capacity utilization rates of each producer, current and speculative pricing, and price optimization strategy across value chain, techno-economic analysis of chlorinated polyolefin production and many more.

Fumaric Acid Market

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Historical and Forecast Analysis of Fumaric Acid Market 2017-2032

The global fumaric acid market has witnessed a growth rate of ~5.6% over the historical period and is valued at US$ ~440 Mn in 2021.

Growing applications of fumaric acid continue to support the global market’s growth during the assessment period. In the past few years, food and beverage sector played a major role in pushing the sale of fumaric acid where it is used in food processing as well as an additive in ready to drink beverages.

Moreover, the demand for energy drinks had increased at a substantial rate and has proportionately surged the fumaric acid demand over the past half-decade. Fumaric acid plays a vital role in energy drink manufacturing, stabilizing the beverage and maintaining its quality over time. 

On the other hand, the main use of fumaric acid in UPR (Unsaturated Polyester Resins) and alkyd resins is to maintain the unsaturated molecular chain. Alkyd resins and unsaturated polyester resins’ demand is expected to rise in the coming years as they are widely used in construction and automotive materials production.

This has spurred the demand and production of fumaric acid across the globe owing to increasing construction activities, remodelling activities and the growing automotive industry. The global market for fumaric acid is expected to witness stellar growth in the years to follow.

Based on the aforementioned factors, the global fumaric acid market is anticipated to grow at a CAGR of 6.7% over the long-term forecast period (2022-2032).

Below points summarize the fumaric acid market over the long-run forecast period

  • East Asia has dominated the global fumaric acid market revenue in 2021, and the trend is projected to grow throughout the forecast period. 
  • Among the extraction types, the largest is fermentation, which represents over US$ 160 Mn of the market, or 43.9% in 2021, and US$ 341.2 Mn in 2032, or 50.8%, and a CAGR of 8.3%. 
  • The largest share is contributed by food and beverage Industry segment in the global fumaric acid market. The industry accounted for over US$ 143 Mn, or 38.5% of the market in 2021, to reach US$ 211.8 Mn by 2025, or 33.4%, representing a CAGR across the forecast period of 5.1%.

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What are the Prominent Driving Factors of the Fumaric acid?

Fumaric acid demand across the world is anticipated to grow at a substantial pace over the forecast period.  The flourishing food and beverage industry across the globe is the primary demand for fumaric acid. Up surging demand from the cosmetic industry attributed to an increase in the global personal care products market to drive the requirement for fumaric acid to a large extent.

The market for ready to drink beverages is anticipated to upsurge in developed and rapidly developing nations. The rise in disposable income of the population in developing and less developed countries anticipated to escalate the global beverage market, thereby leading to an increased demand for fumaric acid.

As far as regional fumaric acid demand is concerned, demand across the Asia Pacific is at an all-time high. Manufacturers of fumaric acid would benefit by focusing on the growing North America region, as the construction industry in North America is witnessing flourishing growth during the forecast period.

Region-wise Analysis

What makes China a Prominent Market for Fumaric acid?

China is the leading market regarding fumaric acid demand and is anticipated to continue its dominance over the forecast period. Increasing convenience food demand coupled with an increase in per-capita middle-class disposable income and population expansion is the prominent factor driving the demand for fumaric acid in China. Growing construction & remodelling activities in China is also anticipated to propel regional market growth.

The rising automotive industry in China to drive fumaric acid market growth. China fumaric acid market is anticipated to grow at a CAGR of 7.2% over the forecast period i.e., 2022-2032.

Moreover, the extensive growth in the food and beverage industry in China is anticipated to drive the regional demand. Increasing health awareness and extensive food consumption across the region has enhanced the use of fumaric acid in East Asia.

Fumaric acid market forecast by Fact.MR

Why Fumaric acid Market in United States is anticipated to grow at a Substantial Pace?

Fumaric acid is widely used as an acidulant in the food and beverage industry in the United States and Canada. United States witnessed the second-highest demand for fumaric acid across the globe after China. The consumption of fumaric acid in US is anticipated to grow at a CAGR 6.1% throughout the forecast period.

A rapidly growing food and beverage industry across U.S is driving the sales for fumaric acid and its derivatives owing to an increase in consumption of packed and ready to drink beverages.

Changing lifestyle coupled with an increase in consumption of fumaric acid in the food & beverage and building and construction industry is expected to drive the fumaric acid market in United States. The US fumaric acid market value holds approx. 14% of the fumaric acid market.

Category-wise Analysis

How Introduction of Ethnic and Innovative Flavors Substantiates the Fumaric Acid Market Growth?

Fumaric acid serves primarily as an acidulant in food & beverage industry, used to enhance flavour and adjust pH. As fumaric acid is a food additive, it induces a pleasant taste in food and beverages. It uniformly helps in masking any unpleasant after-tastes of vitamins, plant extracts, amino acids, nutraceuticals, or antioxidants in several health drinks.

An increase in convenience food demand together with growing ready-to-drink (RTD) beverages coupled with elevated living standards particularly in developing countries such as India, China is expected to boost the consumption of processed food & beverages.

The change in trend for dietary consumption along with rising health consciousness amongst customer leads to the introduction of new ethnic and exotic flavors in the beverages & food which in turn boosting the demand for processed beverages & food. The growing focus of food and beverage manufacturers toward launching unique and exotic flavoured food and beverages products in the market is the main driving factor for the growth of the market

Why Growing Consumption of Unsaturated Polyester Resins in Construction Industry to drive Fumaric Acid Market Growth?

The global demand for Unsaturated Polyester Resins (UPR)  is greatly influenced by general economic conditions such as heavy dependency on resins by construction/remodelling activity (residential and nonresidential) and motor vehicle production.

Unsaturated Polyester Resins (UPR) is used in construction applications such as anchoring grout, concrete, mortars and coatings whereas, in the automotive industry, it is used as body filler for reconstruction and repair of damaged parts of vehicles.

Increasing construction spending coupled with an increase in automobile production particularly in China, India, Indonesia and Thailand is expected to enhance fumaric acid demand for unsaturated polyester resins (UPR) production.

Competitive landscape

Key players of fumaric acid are focusing on improvising their manufacturing process to achieve higher production yield and quality fumaric acid. This is to cater to the growing demand of fumaric acid in preservatives, bakery products, as flavoring agents, in wine, in juices, paints, resins, as well as body cleansing agents.

Additionally, players also focusing on increasing their market share in the Asia Pacific and European markets by entering into strategic partnerships and joint ventures with regional players as well as investment groups.

Fumaric acid Market Key Segments

  • By Extraction Type

    • Fumaria Officinalis
    • Maleic Anhydride
    • Fermentation
  • By End Use Industry

    • Food and Beverage
    • Cosmetic
    • Pharmaceutical
    • Chemical
  • By Application

    • Food Additives
    • Rosin Paper Sizes
    • Unsaturated Polyester Resins (UPR)
    • Alkyd Resins
    • Animal Feed
    • Others

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In 2021, the fumaric acid market surpassed consumption of US$ 440 Mn

Sales of fumaric acid are projected to increase at a CAGR of over ~6.7% during 2022 – 2032.

Sales of fumaric acid increased at a CAGR of over 5.6% during 2017 – 2021.

Fumaric Acid for food additive application is talk of the town.

Rapid growth in the food and beverage industry is the prime reasons driving the sales of fumaric acid.

Tier-1 manufacturers of fumaric acid account for over 65% share in the market.

The top 5 countries driving demand for fumaric acid are the US, China, Japan, Germany and France.

North America accounted for nearly 18.6% of global fumaric acid demand in 2021.

The European market for fumaric acid is projected to expand at a CAGR of 6.1% during 2022 – 2032 and hold approx. 17% of the global demand.

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