Fumaric acid market size to grow by USD 308.14 million from 2022 to 2027, APAC to account for 44% of market growth - Technavio

NEW YORK, April 20, 2023 /PRNewswire/ -- The global fumaric acid market size is estimated to grow by USD 308.14 million from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 6.2% during the forecast period. Moreover, the growth momentum will accelerate. APAC will account for 44% of market growth during the forecast period. For more invaluable insights on the historic (2017 to 2021) and forecast market size (2023 to 2027) - Request a sample report

Fumaric acid market - Segmentation assessment
Segment overview
Technavio has segmented the market based on type (fermentation, maleic anhydride, and fumaria officinalis), application (food and beverages, unsaturated polyester resins, rosin paper sizes, alkyd resins, and others), and geography (APAC, North America, Europe, South America, and Middle East and Africa). 

• The fermentation segment will account for a significant share of market growth during the forecast period. The rising use of fumaric acid as a raw component in the polymer industry, along with the increasing price of petroleum-based acid, has increased interest in the fermentation method for producing this molecule from renewable resources. The fermentation procedure produces 85% fumaric acid, which is less expensive. Submerged fermentation systems, along with product recovery methods, have produced economically appealing yields and productivity.

Geography Overview
The report provides actionable insights and estimates the contribution of all regions to the growth of the global fumaric acid market.

• The fumaric acid market in APAC is expected to grow at a significant rate during the forecast period. The construction industry in China, India, Indonesia, Bangladesh, Thailand, Vietnam, and Singapore is expected to grow, which, in turn, will increase the demand for unsaturated polyester resins as well as alkyd resins. These factors will contribute to the growth of the market. In addition, the purchasing power parity and average household income in APAC have been growing steadily over the last few years, which will fuel the demand for functional and packaged food and beverage products during the forecast period. Therefore, the fumaric acid market in APAC is expected to grow during the forecast period.

Learn more on various market segments analysis, including country- and region-wise
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Fumaric acid market – Market dynamics

Key factor driving market growth

• The introduction of ethnic and innovative flavors is driving market growth.
• Vendors are introducing unique flavors for beverages. Mixologists are incorporating organic products, herbs, and other ingredients to enhance the taste.
• The popularity of Asian food and flavors such as green tea, lemongrass, and soy is increasing across the world.
• As fumaric acid is non-hygroscopic, it is used in pre-blends.
• It is extensively used as a flavor blender in ethnic cuisine and is also used in dry mixes to prevent moisture absorption and product degradation.
• Therefore, the rising demand for food and beverages will directly influence the need for fumaric acid, which, in turn, will positively impact the growth of the market during the forecast period.

Leading trends influencing the market 

• An increase in disposable income among the middle class is a leading trend in the market.
• The disposable income of the middle-class population has been rising due to geopolitical factors and macroeconomic policies.
• These factors accelerate the revenues in commodity-exporting countries.
• The middle class in Asia has grown more than the middle class in other parts of the world.
• Therefore, the growing disposable income among the middle-class population is expected to impact the market positively during the forecast period.

Major challenges hindering the market growth

• The increased threat of substitutes from citric acid and malic acid is challenging market growth.
• Citric acid is used in various processed foods and carbonated drinks.
• It is a natural preservative and produces tartness in these drinks.
• Moreover, as it is a weak organic acid, it acts as a water softener by breaking down trace amounts of metal found in water.
• Citric acid has numerous applications in the cosmetics and pharmaceutical industries, where it is used as a pH-adjusting agent in skin lotions.
• Thus, due to the wide range of applications of citric acid, various manufacturers prefer to produce this acidulant on a massive scale.
• The intense competition from substitutes will hinder the growth of the market during the forecast period.

To get invaluable insights on market drivers, trends, & challenges for historic period
(2017 to 2021), and forecast period (2023 to 2027) - Request a sample report!

What are the key data covered in this Fumaric Acid Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the fumaric acid market between 2023 and 2027
• Precise estimation of the size of the fumaric acid market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the fumaric acid market across APAC, North America, Europe, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of fumaric acid market vendors

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Table of contents

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global fumaric acid market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global fumaric acid market 2017 - 2021 ($ million)

• 4.2 Type Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Type Segment 2017 - 2021 ($ million)

• 4.3 Application Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Application Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Type

• 6.1 Market segments
• Exhibit 30: Chart on Type - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Type - Market share 2022-2027 (%)

• 6.2 Comparison by Type
• Exhibit 32: Chart on Comparison by Type
• Exhibit 33: Data Table on Comparison by Type

• 6.3 Fermentation - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Fermentation - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Fermentation - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Fermentation - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Fermentation - Year-over-year growth 2022-2027 (%)

• 6.4 Maelic anhydride - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Maelic anhydride - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Maelic anhydride - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Maelic anhydride - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Maelic anhydride - Year-over-year growth 2022-2027 (%)

• 6.5 Fumaria officinails - Market size and forecast 2022-2027 
• Exhibit 42: Chart on Fumaria officinails - Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on Fumaria officinails - Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on Fumaria officinails - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Fumaria officinails - Year-over-year growth 2022-2027 (%)

• 6.6 Market opportunity by Type 
• Exhibit 46: Market opportunity by Type ($ million)

7 Market Segmentation by Application

• 7.1 Market segments
• Exhibit 47: Chart on Application - Market share 2022-2027 (%)
• Exhibit 48: Data Table on Application - Market share 2022-2027 (%)

• 7.2 Comparison by Application 
• Exhibit 49: Chart on Comparison by Application
• Exhibit 50: Data Table on Comparison by Application

• 7.3 Food and beverages - Market size and forecast 2022-2027 
• Exhibit 51: Chart on Food and beverages - Market size and forecast 2022-2027 ($ million)
• Exhibit 52: Data Table on Food and beverages - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Chart on Food and beverages - Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on Food and beverages - Year-over-year growth 2022-2027 (%)

• 7.4 Unsaturated polyester resins - Market size and forecast 2022-2027 
• Exhibit 55: Chart on Unsaturated polyester resins - Market size and forecast 2022-2027 ($ million)
• Exhibit 56: Data Table on Unsaturated polyester resins - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Chart on Unsaturated polyester resins - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Unsaturated polyester resins - Year-over-year growth 2022-2027 (%)

• 7.5 Rosin paper sizes - Market size and forecast 2022-2027 
• Exhibit 59: Chart on Rosin paper sizes - Market size and forecast 2022-2027 ($ million)
• Exhibit 60: Data Table on Rosin paper sizes - Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Chart on Rosin paper sizes - Year-over-year growth 2022-2027 (%)
• Exhibit 62: Data Table on Rosin paper sizes - Year-over-year growth 2022-2027 (%)

• 7.6 Alkyd resins - Market size and forecast 2022-2027 
• Exhibit 63: Chart on Alkyd resins - Market size and forecast 2022-2027 ($ million)
• Exhibit 64: Data Table on Alkyd resins - Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Chart on Alkyd resins - Year-over-year growth 2022-2027 (%)
• Exhibit 66: Data Table on Alkyd resins - Year-over-year growth 2022-2027 (%)

• 7.7 Others - Market size and forecast 2022-2027 
• Exhibit 67: Chart on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 68: Data Table on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 69: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 7.8 Market opportunity by Application 
• Exhibit 71: Market opportunity by Application ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 72: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 73: Chart on Market share by geography 2022-2027 (%)
• Exhibit 74: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 75: Chart on Geographic comparison
• Exhibit 76: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027 
• Exhibit 77: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 78: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 79: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 North America - Market size and forecast 2022-2027 
• Exhibit 81: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 82: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 83: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.5 Europe - Market size and forecast 2022-2027 
• Exhibit 85: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 86: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 87: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027 
• Exhibit 89: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 90: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 91: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 93: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 94: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 95: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 China - Market size and forecast 2022-2027 
• Exhibit 97: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 98: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 99: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.9 US - Market size and forecast 2022-2027 
• Exhibit 101: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 102: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 103: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.10 India - Market size and forecast 2022-2027 
• Exhibit 105: Chart on India - Market size and forecast 2022-2027 ($ million)
• Exhibit 106: Data Table on India - Market size and forecast 2022-2027 ($ million)
• Exhibit 107: Chart on India - Year-over-year growth 2022-2027 (%)
• Exhibit 108: Data Table on India - Year-over-year growth 2022-2027 (%)

• 9.11 Germany - Market size and forecast 2022-2027 
• Exhibit 109: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 110: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 111: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 112: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.12 Japan - Market size and forecast 2022-2027 
• Exhibit 113: Chart on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 114: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 115: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 116: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 117: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 118: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 119: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 120: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 121: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 122: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 123: Matrix on vendor position and classification

• 12.3 Actylis
• Exhibit 124: Actylis - Overview
• Exhibit 125: Actylis - Product / Service
• Exhibit 126: Actylis - Key offerings

• 12.4 Agarwal Life Sciences Pvt. Ltd. 
• Exhibit 127: Agarwal Life Sciences Pvt. Ltd. - Overview
• Exhibit 128: Agarwal Life Sciences Pvt. Ltd. - Product / Service
• Exhibit 129: Agarwal Life Sciences Pvt. Ltd. - Key offerings

• 12.5 Bartek Ingredients Inc. 
• Exhibit 130: Bartek Ingredients Inc. - Overview
• Exhibit 131: Bartek Ingredients Inc. - Product / Service
• Exhibit 132: Bartek Ingredients Inc. - Key offerings

• 12.6 Central Drug House Pvt. Ltd. 
• Exhibit 133: Central Drug House Pvt. Ltd. - Overview
• Exhibit 134: Central Drug House Pvt. Ltd. - Product / Service
• Exhibit 135: Central Drug House Pvt. Ltd. - Key offerings

• 12.7 Changzhou Yabang Chemical Co. Ltd. 
• Exhibit 136: Changzhou Yabang Chemical Co. Ltd. - Overview
• Exhibit 137: Changzhou Yabang Chemical Co. Ltd. - Product / Service
• Exhibit 138: Changzhou Yabang Chemical Co. Ltd. - Key offerings

• 12.8 Dastech International Inc. 
• Exhibit 139: Dastech International Inc. - Overview
• Exhibit 140: Dastech International Inc. - Product / Service
• Exhibit 141: Dastech International Inc. - Key offerings

• 12.9 Fuso Chemical Co. Ltd. 
• Exhibit 142: Fuso Chemical Co. Ltd. - Overview
• Exhibit 143: Fuso Chemical Co. Ltd. - Product / Service
• Exhibit 144: Fuso Chemical Co. Ltd. - Key offerings

• 12.10 Henan GP Chemicals Co. Ltd. 
• Exhibit 145: Henan GP Chemicals Co. Ltd. - Overview
• Exhibit 146: Henan GP Chemicals Co. Ltd. - Product / Service
• Exhibit 147: Henan GP Chemicals Co. Ltd. - Key offerings

• 12.11 Merck KGaA
• Exhibit 148: Merck KGaA - Overview
• Exhibit 149: Merck KGaA - Business segments
• Exhibit 150: Merck KGaA - Key news
• Exhibit 151: Merck KGaA - Key offerings
• Exhibit 152: Merck KGaA - Segment focus

• 12.12 Nippon Shokubai Co. Ltd. 
• Exhibit 153: Nippon Shokubai Co. Ltd. - Overview
• Exhibit 154: Nippon Shokubai Co. Ltd. - Business segments
• Exhibit 155: Nippon Shokubai Co. Ltd. - Key offerings
• Exhibit 156: Nippon Shokubai Co. Ltd. - Segment focus

• 12.13 Polynt Spa
• Exhibit 157: Polynt Spa - Overview
• Exhibit 158: Polynt Spa - Product / Service
• Exhibit 159: Polynt Spa - Key offerings

• 12.14 RXChemicals
• Exhibit 160: RXChemicals - Overview
• Exhibit 161: RXChemicals - Product / Service
• Exhibit 162: RXChemicals - Key offerings

• 12.15 The Chemical Co.
• Exhibit 163: The Chemical Co. - Overview
• Exhibit 164: The Chemical Co. - Product / Service
• Exhibit 165: The Chemical Co. - Key offerings

• 12.16 UPC Technology Corp.
• Exhibit 166: UPC Technology Corp. - Overview
• Exhibit 167: UPC Technology Corp. - Business segments
• Exhibit 168: UPC Technology Corp. - Key offerings
• Exhibit 169: UPC Technology Corp. - Segment focus

• 12.17 XST Biological Co. Ltd. 
• Exhibit 170: XST Biological Co. Ltd. - Overview
• Exhibit 171: XST Biological Co. Ltd. - Product / Service
• Exhibit 172: XST Biological Co. Ltd. - Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 173: Inclusions checklist
• Exhibit 174: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 175: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 176: Research methodology
• Exhibit 177: Validation techniques employed for market sizing
• Exhibit 178: Information sources

• 13.5 List of abbreviations 
• Exhibit 179: List of abbreviations

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