Fumaric acid is a white solid and occurs widely in nature. This organic compound has a fruity taste. Its E297 number refers to the substance fumaric acid and the salts and esters of fumaric acid. Fumaric acid salts are also referred to as fumarates. In chemical terms, fumarate is a C2 compound In addition to its use in foods, fumaric acid has been found in various other products. It is widely used in wheat tortillas, sourdough, rye breads, refrigerated biscuit dough, and fruit juices. It is also used as a preservative in alcoholic beverages, as well as in cleaning products.
Market Statistics:
The global fumaric acid market was valued at US$ 255 Mn in 2021 and is forecast to reach a value of US$ 349 Mn by 2030 at a CAGR of 3.88% between 2022 and 2030.
North America held dominant position in the global fumaric acid market in 2020, accounting for 38.5% share in terms of volume, followed by Europe and Asia Pacific, respectively.
Figure 1. Global Fumaric Acid Market Value Share (%), By Region, 2021
Recent Developments:
In October 2021, ESIM Chemicals has completed the sale of its IM (Intermediate Business) unit to the USA Company Vertellus, founded in 1857, headquartered in Indianapolis, Indiana, is a manufacturer of niche specialty products. The company will now focus mainly on the development and production of specialty chemical products.
In February 2022, Merck KGAA, acquired Exelead, following the regulatory clearances, for approximately USD 780 million in cash. The business combination is expected to enable Merck’s Life Science business sector to provide its customers with comprehensive end-to-end contract development and manufacturing organization (CDMO) services across the mRNA value chain. Merck plans to further invest over € 500 million to scale up Exelead’s technology over the next ten years.
| Report Coverage | Details | ||
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| Base Year: | 2021 | Market Size in 2021: | US$ 255 Mn |
| Historical Data for: | 2017 to 2020 | Forecast Period: | 2022 to 2030 |
| Forecast Period 2022 to 2030 CAGR: | 3.88% | 2030 Value Projection: | US$ 349 Mn |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: |
Anmol Chemicals, Bartek Ingredients Inc., Changmao Biochemm, ESIM Chemicals, Fuso Chemical Co. Ltd, Merck KGaA, Polynt, Thirumalai Chemicals Ltd, UPC Group, Yongsan Chemicals Inc., and XST Biological Co. Ltd |
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| Growth Drivers: |
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| Restraints & Challenges: |
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Market Drivers:
Growing application in food and beverage industry is driving growth of the fumaric acid market. It is used as a food additive in food &beverage industry. It is used as essential ingredients in the production of candy to add sourness. For instance, in the recent past, fumaric acid was significantly used as a substitute for other food additives, like tartaric acid and citric acid, as a lesser quantity of fumaric acid can be used to achieve the same results. For example, 1 gram of fumaric acid can add the same amount of sourness as 1.5 gram of citric acid.
Increasing demand from pharmaceutical industry where it is used to produce alexipharmic sodium dimercaptosuccinate and ferrous fumarate, as an optical bleaching agent, in formulations for alternative medicine, or as fumaric acid esters monoethyl fumarate and dimethyl fumarate to treat psoriasis.
Figure 2. Global Fumaric Acid Market Value Share (%), By Resin Type, 2021
Market Restraints:
Health hazard associated with the fumaric acid is expected to limit the industry growth. Fumaric acid can be hazardous to human health, and it is certified as a hazardous material by the Department of Transportation (USA) and The Environmental Protection Agency.
Strict government regulations due to growing environmental concern in order to reduce carbon footprints is again anticipated to hinder the market growth.
Market Opportunities:
Growing popularity of nutritional bars and cereals is projected to bring lucrative growth opportunities in the near future.
Increasing use of fumaric acid as an intermediate in the manufacturing of bio-based polymers and can also replace maleic anhydride in different application is again expected to offer significant growth opportunities.
Market Trends/Key Takeaways:
Rise in construction and remodelling activities across developing countries is creating demand for Unsaturated Polyester Resin (UPR). It is used in the production of UPR and alkyd resins, thus demand for paints is expected to grow due to growing construction activities.
Increasing investment in R &D by key players to develop bio-based fumaric acid is expected to uplift the market growth in the near future. For instance, in March 2020, Bartek Ingredients has announced a 10,000 million ton (Mt) malic acid capacity expansion by the first quarter of next year. The company specialises in malic acid, food-grade fumaric acid and maleic anhydride for food and beverage applications.
Competitive Landscape:
Anmol Chemicals, Bartek Ingredients Inc., Changmao Biochemm, ESIM Chemicals, Fuso Chemical Co. Ltd, Merck KGaA, Polynt, Thirumalai Chemicals Ltd, UPC Group, Yongsan Chemicals Inc., and XST Biological Co. Ltd
Fumeric acid is a chemical compound that occurs in a wide range of nature and has a fruity taste. Fumeric acid and its salts are also known as fumarates or fumarate esters. The name "fumarate" may also refer to a C2 compound. Fumeric acid is used in baking and desserts. This acid is highly acidic and will give desserts a more intense aftertaste. It is used in puddings, gelatin desserts, condensed milk products, and pie filling. It can be used in place of citric acid. Despite the sourness it adds, fumaric acid is still considered safe by the Food and Drug Administration.
Market Dynamics:
Growing application in food and beverage industry is primarily fueling growth of the fumeric acid market. Increasing demand from pharmaceutical industry where it is used in as a food additive is again fostering market growth. Additionally, growing automobile production where it is used in the fabrication of body panel for heavy and light duty vehicle is further anticipated to augment the market growth.
On the other, health hazards associated with fumeric acid is projected to hinder the market growth.
Key features of the study:
Detailed Segmentation:
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