IMARC Group's report titled "Fumaric Acid Market Report by Application (Food Additives, Rosin-Sized Sheathing Paper, Unsaturated Polyester Resins, Alkyd Resins, and Others), End-Use Industry (Food and Beverages Industry, Cosmetics Industry, Pharmaceutical Industry, Chemical Industry, and Others), and Region 2024-2032",offers a comprehensive analysis of the industry, which comprises insights on the fumaric acid market share. The global market size reached US$ 775.9 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 1,134.5 Million by 2032, exhibiting a growth rate (CAGR) of 4.2% during 2024-2032.
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Factors Affecting the Growth of the Fumaric Acid Industry:
- Demand in the Animal Feed Industry:
Fumaric acid is an efficient feed acidifier known to improve feed conversion rates and promote the growth and health of livestock. This is particularly important in poultry and swine production, where maintaining optimal gut health and efficiency in feed utilization is crucial. The rising demand for meat and dairy products, coupled with the need for sustainable and efficient livestock production practices, is encouraging the use of feed additives like fumaric acid. Furthermore, with the ongoing shift away from antibiotic growth promoters due to health and regulatory concerns, natural growth promoters, such as fumaric acid, are gaining prominence. This trend is supported by research indicating that fumaric acid can enhance nutrient absorption and support the immune system of animals.
- Increasing Need for Environmentally Friendly Products:
The growing environmental concerns and the emphasis on sustainability are driving the demand for eco-friendly and biodegradable products like fumaric acid. Fumaric acid, being biodegradable and non-toxic, is seen as an attractive alternative to synthetic chemicals in various industrial applications. Its use in producing biodegradable plastics, eco-friendly paints, and coatings, as well as in renewable energy sources like biofuels, aligns with the shift towards environmental sustainability. Companies are adopting green practices and materials to comply with regulatory standards and to cater to the growing demand for sustainable products. This shift is not only ethically and environmentally driven but also economically motivated, as sustainable practices often lead to long-term cost savings and enhanced brand reputation.
- Increasing Demand in the Food and Beverage (F&B) Industry:
Fumaric acid is a food additive that is widely used as a preservative and acidity regulator. Its ability to enhance flavor and extend shelf life makes it popular in a variety of food products like soft drinks, fruit juices, and baking powders. The growing consumption of convenience foods and ready-to-eat (RTE) meals is driving the demand for food-grade fumaric acid. Additionally, the shift towards healthier, low-calorie foods and beverages is prompting the use of fumaric acid in diet and zero-calorie products. The compatibility of fumaric acid with various food ingredients and its role in maintaining the desired consistency and stability in food products is supporting the market growth.
Leading Companies Operating in the Global Fumaric Acid Industry:
- Bartek Ingredients Inc.
- Dastech International
- Fuso Chemical Co., Ltd.
- Polynt
- Prinova Group
- Changzhou Yabang Chemical Co. Ltd.
- Nippon Shokubai
- The Chemical Company
- Thirumalai Chemicals
- U.S. Chemicals
- Wego Chemical Group
- Huntsman Corporation
Fumaric Acid Market Report Segmentation:
By Application:
- Food Additives
- Rosin-Sized Sheathing Paper
- Unsaturated Polyester Resins
- Alkyd Resins
- Others
Food additives account for the majority of the market share due to the increasing demand for food preservation and flavor enhancement in the F&B industry.
By End-Use Industry:
- Food and Beverages Industry
- Cosmetics Industry
- Pharmaceutical Industry
- Chemical Industry
- Others
The food and beverages industry holds the biggest market share driven by the essential role of fumaric acid in food processing and beverage production.
Regional Insights:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Asia Pacific dominates the market owing to the rising consumer demand for processed foods and the presence of key manufacturers in the region.
Global Fumaric Acid Market Trends:
Technological advancements in the production and application of fumaric acid are offering a favorable market outlook. Modern production techniques are making the synthesis of fumaric acid more efficient and eco-friendly. These advancements are reducing production costs and making fumaric acid more accessible for a range of applications.
Besides this, the rising use of fumaric acid in composite materials and 3D printing technology is propelling the market growth. The material properties of fumaric acid, particularly when used as a component in unsaturated polyester resins, make it highly suitable for advanced composite applications. These composites are utilized in automotive, aerospace, and construction industries for their strength and lightweight characteristics. Additionally, the rise of 3D printing technology presents new opportunities for fumaric acid in resin formulations tailored for 3D printing processes.
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