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.
The global malic acid market is expected to grow at a significant rate owing to the large demand from food & beverage industry. 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. The rapidly growing food industry is expected to be the major driver for the global malic acid market owing to its applications in various food and beverages. Malic acid is the source of extreme tartness in certain foods and is also often used in place of citric acid. Classification of malic acid under GRAS by the FDA has driven various innovations and R&D investments in this sector. However, the widespread use of citric acid poses a substitution threat for the global malic acid market. In the coming years, the positive outlook on the food and beverage sector coupled with the population growth is expected to provide various opportunities for the players in the global malic acid market.
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On the basis of types, the global malic acid market is segmented into L-malic acid, D-malic acid, and DL-malic acid. The demand for L-malic acid remained the highest in 2016 and it is expected to maintain its dominance over the forecast period. This can be attributed to its extensive range of applications as an antioxidant, color fixative, excipient as well as in cosmetics. However, DL-malic acid is expected to register the fastest growth rate within the forecast period.
Food & beverages, pharmaceuticals, chemical industry and others (cosmetics, agriculture/animal feed etc.) are the applications of malic acid. Demand for food and beverages remained the highest in 2016, accounting for a little over 65% of the global malic acid market. It is also expected to witness significant growth owing to the rising demand for food additives such as acidity regulators, preservatives etc. coupled with the growing population.
Geographically, Asia-Pacific was the largest market for malic acid in 2016 and is expected to maintain this trend within the forecast period. Asia Pacific malic acid market is also expected to register the fastest growth rate over the forecast period owing to the rising demand from the food and beverages industry in the region coupled with the population explosion. North America was the second largest region in the global malic acid market and is expected to witness moderate growth within the forecast period.
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 are some of the key players operating in the global malic acid market.