Malic Acid Market to Surpass Valuation of US$ 1.35 Bn by 2031; Market Players to Witness Steady Revenue Gains from Several Applications in F&B Industry and Cosmetic Products: TMR Study

ALBANY, N.Y., Oct. 7, 2021 /PRNewswire/ -- Malic acid and its derivatives have emerged as important platform chemicals that find use in the manufacture of broad spectrum of industrial chemicals. A large proportion of malic acid produced over the decades has been utilized in the food & beverage industry, where it is mostly used in combination with other acids. Of note, in recent years, L-malic has gained attention among dietary supplement manufacturers. The demand for malic acid is likely to gather pace in functional foods, mainly on the back of growing research in improving the safety of the final products. Its substantial use in skincare products also has boosted the growth prospects of the malic acid market.

The bio-based production of malic acid presents substantial avenues for chemical companies, notes a TMR study on the malic acid market. In the past couple of years, the demand for biotechnologically produced L-malic acid has allowed the market players to capture revenues in current and emerging applications. Notably, its use in making bio-based, copolymers and agricultural chemicals will propel new revenue streams in the near future, given the transition of countries from fossil-based to a bio-based economy. The global valuation of the malic acid is projected to cross US$ 1.35 Bn by 2031.

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Key Findings of Malic Acid Market Study

• Growing Maleic Acid Synthesis from Renewables to Enable Producers Expand Its Applications: Increased focus on competitive bio-based production of platform chemicals over the years has massively benefitted players in the malic acid market. The growing prospect of the malic acid production from renewable substrates has created a promising frontier for end-use industries in the malic acid market. In recent years, the relentless focus of the chemical industry on the production of biomass-derived platform molecules has led to synthesizing maleic acid from easily available and cheap bio-based chemicals, enriching the developments of the malic acid market.
• Wide Use in F&B Industry to Propel Steady Revenue Streams: The malic acid market has witnessed a rise in sales from the steady use of malic acid in various applications in the food & beverages industry, prominently as a food acidulent. It is used in enhancing sweetness or tartness of a range of food products such as fruit and vegetable juices, powdered drink mixes, and candies. The growing need for new ingredients for blending and with flavor-modifying properties has further boosted the application of malic acid.
• Pharmaceutical Companies Exploring Potential of L-malic Acid in Dietary Supplements: There have been substantive demand for cardioprotective and immunity-boosting ingredients globally. This has continuously boosted strides in manufacture of dietary supplements, thereby driving market prospects for malic acid. During the outbreak of the COVID-19 pandemic, such supplements have gained massive attention among functional food manufacturers who intend to cater to the healthcare needs of the population worldwide. Additionally, malic acid is showing promise in treating patients with fibromyalgia, and the therapeutic application is attracting sizable R&D investments from several pharmaceutical companies.

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Malic Acid Market: Drivers

• Rise in the worldwide demand for a wide array of food & beverage products among consumers is a key driver for industry players to explore new food additives that can act as flavor and taste enhancer
• Strides made in industrial biotechnology have fueled the prospects of using malic acid as an intermediate chemical in the personal care industry. Demand for organic chemicals for a variety of cosmetic products has spurred R&D in the malic acid market. The demand has risen on the back of growing awareness about the safety of the ingredients used in cosmetics.

Malic Acid Market: Regional Growth Dynamics

• Asia Pacific market held the major share of the global malic acid market. Widespread utilization of malic acid in a wide variety of beverages and confectionery products in the Asia Pacific Malic acid market will spur the prospects during the forecast period. China has emerged at the forefront due to massive demand for food additives.
• North America is a highly lucrative malic acid market, and is projected to witness substantial opportunities mainly in the U.S. during the forecast period. Extensive R&D in organic ingredients for applications in healthcare and personal care sector will propel its growth.

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Malic Acid Market: Competition Landscape

Some of the key players in the malic acid market are Zhonglan Industry Co.,Ltd., Miles Chemical, Miles Chemical, Polynt SpA, Prinova Group LLC., Thirumalai Chemicals Co. Ltd., Isegen South Africa (Pty) Ltd., Fuso Chemicals Co., Ltd., and Bartek Ingredients Inc.

Global Malic Acid Market: Segmentation

Malic Acid Market, by Type

• Powder
• Liquid

Malic Acid Market, by Form

• L-Malic Acid
• D-Malic Acid
• DL-Malic Acid

Malic Acid Market, by Application

• Food & Beverages
• Juices & Beverages
• Confectionery Products
• Dairy & Bakery Products
• Others (including Frozen & Can Food)
• Medicinal & Personal Care
• Chemical (Oil Field & Plastic)
• Others (including Paints and Gypsum Cement Retarders)

Malic Acid Market, by Region

• North America
• U.S.
• Canada
• Europe
• Germany
• France
• U.K.
• Italy
• Spain
• Russia & CIS
• o Rest of Europe
• Asia Pacific
• China
• India
• Japan
• ASEAN
• Rest of Asia Pacific
• Latin America
• Brazil
• Mexico
• Rest of Latin America
• Middle East & Africa
• GCC Countries
• South Africa
• Rest of Middle East & Africa

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