Fumaric Acid Market Size, Growth, Opportunity and Forecast 2023-2028

According to the latest report by IMARC Group "Fumaric Acid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", The global fumaric acid market size reached US$ 740.5 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 980.4 Million by 2028, exhibiting a growth rate (CAGR) of 4.71% during 2023-2028.

Fumaric acid refers to an organic and white crystalline compound that is used as a flavoring agent in several food products. It is usually found in lichens, mosses, mushrooms, etc., and is utilized as a preservative, acidulant, pH-adjusting agent, or flavor enhancer in bakery items, confectioneries, drinks, etc. Fumaric acid also works as an alternative to tartaric acid in beverages and baking powders. As such, it is widely adopted in the production of various pharmaceutical products, cosmetics, synthetic resins, paints, plastics, etc.

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Market Trends:

Owing to the increasing sedentary lifestyles and changing dietary patterns, there is a growing demand for ready-to-eat (RTE) and convenience food products, which is propelling the product usage to provide enhanced stability and flavor. This, in turn, is primarily driving the fumaric acid market across the globe. In addition to this, the emerging trend of adding fumaric acid to alcoholic beverages and energy drinks to provide an intense aftertaste is further catalyzing the market growth. Besides this, the extensive product utilization as a stabilizing agent in the production of paints, alkyd resins, and unsaturated polyester resins is acting as another significant growth-inducting factor. Moreover, widespread R&D activities across countries to produce bio-based product variants are expected to fuel the fumaric acid market over the forecasted period.

Breakup by Application:

Food Additives
Rosin-Sized Sheathing Paper
Unsaturated Polyester Resins
Alkyd Resins
Others

Breakup by End-Use:

Food and Beverages Industry
Cosmetics Industry
Pharmaceutical Industry
Chemical Industry
Others

Market Breakup by Region:

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

Competitive Landscape with Key Player:

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.

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