Zion Market Research has published a new report titled “Malic Acid Market (L-Malic Acid, D-Malic Acid, and DL-Malic Acid) for Food & Beverages, Chemical Industry, Cosmetics Industry and Other Applications: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016 – 2022”. According to the report, the global malic acid market accounted for USD 162.1 Million in 2016 and is expected to reach USD 238.6 Million by 2022, growing at a CAGR of around 5.4% between 2017 and 2022.
Malic acid is a tart-tasting carboxylic acid that plays a role in many sour or tart foods. Although it is found as a naturally occurring organic compound in various fruits, many choose to take malic acid supplements to increase their overall health, as well as treat various diseases. Changing consumer preferences regarding food & beverages has increased the demand for various flavor enhancers and additives. Urbanization has also increased the demand for canned foods and takeaway foods. These factors have been driving the demand for food preservatives and are expected to propel the growth of the malic acid market over the forecast period. In addition, malic acid has been witnessing increased demand from the cosmetics industry as it is a more balanced acid as compared to other fruit acids and also has a better buffer capacity. However, usage of citric acid in the food industry poses a slight threat of substitution to the malic acid market. In the coming years, the positive outlook on the food and beverages industry coupled with the population growth, especially in the BRICs countries are expected to provide various opportunities for the players in the global malic acid market.
L-malic acid accounted for the largest market share in 2016 and is expected to prolong its dominance over the forecast period. DL-malic acid is expected to register the fastest growth rate over the forecast period owing to the increasing demand for sports supplements and nutritional drinks across the globe.
Food and beverages were the largest application segment of the global malic acid market in 2016 accounting for a little over 65% of the market in terms of volume. Changing food preferences, urbanization and population explosion are expected to propel the demand for malic acid in food & beverages applications. It is also expected to be the fastest growing application segment of the global malic acid market.
In terms of geography, Asia-Pacific was the largest market for malic acid in the world owing to various factors such as population explosion, urbanization and the rapid growth of the food and beverages industry in the region. Other regions such as the Middle East & Africa and Latin America are expected to register above average growth rates owing to the rise in spending power and increasing demand for products such as convenience foods and sports nutrition supplements.
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The key players operating in the global malic acid market are 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.