The market for fumaric acid is anticipated to reach a value of US$ 969.0 million by the end of 2033, growing at a CAGR of 6.8% from its estimated value of US$ 501.9 million in 2023. The market for the organic compound fumaric acid, which is widely used in the food and beverage, pharmaceutical, and chemical industries, is referred to as the fumaric acid market. A white crystalline substance called fumaric acid is naturally present in a number of fruits and vegetables, including apples, grapes, and mushrooms.

The global fumaric acid market is expected to grow at a moderate rate in the coming years, driven by factors such as the increasing demand for convenience foods, rising health concerns among consumers, and the growing demand for pharmaceutical products. The food and beverage industry is the largest consumer of fumaric acid, accounting for the majority of the market share. Fumaric acid is used as an acidulant, preservative, and flavor enhancer in various food and beverage products, including carbonated beverages, fruit juices, candies, and baked goods

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The pharmaceutical industry is another major consumer of fumaric acid, where it is used as an intermediate in the synthesis of various active pharmaceutical ingredients (APIs). Fumaric acid is also used in the production of unsaturated polyester resins, alkyd resins, and other specialty chemicals

Key Takeaways:

• Based on end-use industry, the food and beverage segment is expected to reach US$ 211.8 Mn, exhibiting growth at a CAGR of 5.1%.
• By application, the Unsaturated Polyester Resins (UPR) segment is likely to dominate in terms of share owing to the increasing automobile production in India and China.
• Based on extraction type, the fermentation segment is estimated to top US$ 341.2 Mn in 2032 and showcase a CAGR of 8.3%.
• China fumaric acid market is set to exhibit 7.2% CAGR on the back of the high demand for convenience food.
• Sales in the U.S. are projected to spur at 6.1% CAGR stoked by the rising consumption of packed food and beverages.

Key Insights on Global Fumaric Acid

1. Extraction of fumaric acid using fermentation is expected to witness an upsurge as it provides high quality and effective fumaric acid produce. Rate of adoption of fermentation is expected to go beyond 8% during the forecast period. Use of maleic anhydrite for fumaric acid production by few manufacturers is also observed during the assessment period
2. Pharmaceutical and cosmetic industries have shown similar consumption rate of fumaric acid. However, higher sale of fumaric acid in pharmaceutical applications has been witnessed, as compared to cosmetics. Food and beverage continues to lead the global market
3. With respect to applications, fumaric acid is widely used in food additives and unsaturated polyester resins. Moreover, animal feed is another application area where the consumption of fumaric is expected to grow at a higher rate during the period of forecast. It is projected to grow at 8.7% throughout the analysis period, 2023-2033

Market Titans Key Strategies

To meet the rising demand from various end-use industries and to produce high-quality fumaric acid, the market’s top players are concentrating on increasing their production capacity.

For illustration:

• The largest malic and food-grade fumaric acid production facility in the world, which is still under construction, received a US$160.0 million investment from Bartek Ingredients in April 2022. This will improve the customer base for Bartek Ingredient and strengthen its position globally.

Key Companies Profiled

• Bartek Ingredients
• Thirumalai Chemicals
• Polynt S.P.A
• Nippon Shokubai Co. Ltd.
• Tianjin Bohai Chemicals
• The Chemical Company
• Wego Chemical Group