SAN FRANCISCO, September 27, 2016 /PRNewswire/ --
The global malic acid market is expected to reach USD 244.0 million by 2024, according to a new report by Grand View Research, Inc. The expanding food and beverage industry globally is anticipated to be a major factor for substantial industry growth over the next few years. Growing consumer awareness towards obesity issues has led to increased consumption of low-calorie beverages which is expected to positively impact the product demand.
Beverages accounted for 49.3% of the global malic acid market in 2015. Growing liquid and powdered beverages consumption along with surging artificial flavorant demand in carbonated drinks are estimated to drive the product demand in beverages over the next few years. The increasing confectionery and food processing facilities, especially in Asia Pacific, North America, and Europe, is yet another factor anticipated to steer the product demand in the near future
Browse full research report with TOC on "Malic Acid Market Analysis By End-Use (Beverage, Confectionery, Personal Care) And Segment Forecasts To 2024" at: http://www.grandviewresearch.com/industry-analysis/malic-acid-market
Further key findings from the report suggest:
- The global malic acid market demand exceeded 70 kilo tons in 2015 and is anticipated to grow at an estimated CAGR of 4.2% to reach a total market size of over 102 kilo tons by 2024
- Personal care & cosmetics segment is expected to grow at a CAGR of 5.7% over the next eight years. The shift in consumer and product trends in the personal care industry such as increasing demand for multifunctional personal care & cosmetics products and naturally derived ingredients are the key factors driving product demand in this category.
- Asia Pacific is anticipated to experience the highest growth over the foreseeable future. The region is estimated to grow at a CAGR of 5.2% over the next eight years.
- China malic acid demand is expected to witness high growth on account of expanding personal care & cosmetics and processed food production facilities in the region. The product demand in confectionery and food sector is expected to reach a net worth exceeding USD 14 million by 2024.
- Some of the leading industry participants include Bartek Ingredients, Inc. Fuso Chemicals Co., Ltd, Miles Chemicals, Thirumalai Chemicals Ltd. (TCL), Lonza, and Polynt. The other key players include Changmao Biochemical Engineering Company Limited, Isegen South Africa (Pty), Ltd., Yongsan Chemicals, Prinova, The Chemical Company (TCC), and Anhui Sealong Biotechnology Co., Ltd.
Grand View Research has segmented the global malic acid market on the basis of end-use, and region:
- Global Malic Acid End-Use Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2024)
- Personal care
- Global Malic Acid Regional Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2024)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
- North America
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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