Fumaric Acid Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Fumaric Acid Market is segmented by Type (Food Grade and Technical Grade), Application (Food and Beverage Processing, Rosin Paper Sizing, Unsaturated Polyester Resin, Alkyd Resin, Personal Care and Cosmetics, and Other Applications), End-user Industry (Food and Beverage, Cosmetics, Pharmaceutical, Chemical, and Other End-user Industries), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa).

Market Snapshot

Fumaric Acid Market Overview
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: >4 %

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Market Overview

The fumaric acid market was estimated at 258.86 kilotons in 2020, and the market is projected to register a CAGR of more than 4% during the forecast period (2021-2026).

COVID-19 has majorly impacted the global chemical industry. The social restrictions implemented as a response to the pandemic have drastically reduced the workforce in the industry. Manufacturing operations of several major chemical manufacturers have been operating at 40-60% capacity due to labor shortages and disruptions in the supply of raw material. According to the National Bureau of Statistics (China), chemical manufacturing in the country reduced by around 20% in terms of production during January-April 2020, as compared to the same period in 2019. Thus, the market has been negatively affected due to these disruptions in 2020.

  • On the flip side, stringent government regulations and rising health awareness due to increasing health hazards are likely to hinder the market growth of fumaric acid. Exposure to fumaric acid can cause skin burning, throat irritation, nose irritation, and kidney damage.
  • The emergence of new potential application areas is likely to act as an opportunity for the market studied.
  • Asia-Pacific dominated the market and is expected to continue its dominance during the forecast period.

Scope of the Report

Fumaric acid is known as trans-butenedioic acid, and it is a white crystalline compound found in nature. It is the primary intermediate in the tricarboxylic acid cycle for the biosynthesis of organic acid in humans and other mammals. Similar to malic acid, fumaric acid helps in the production of energy from food in the form of ATP. The fumaric acid market is segmented into type, application, end-user industry, and geography. By type, the market is segmented into food grade and technical grade. By application, the market is segmented into food and beverage processing, rosin paper sizing, unsaturated polyester resin, alkyd resin, personal care and cosmetics, and other applications. By end-user industry, the market is segmented into food and beverage, cosmetics, pharmaceutical, chemical, and other end-user industries. The report also covers the market size of and forecasts for the fumaric acid market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of volume (kilotons).

Type
Food Grade
Technical Grade
Application
Food and Beverage Processing
Rosin Paper Sizing
Unsaturated Polyster Resin
Alkyd Resin
Personal Care and Cosmetics
Other Applications
End-user Industry
Food and Beverage
Cosmetics
Pharmaceutical
Chemical
Other End-user Industries
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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Key Market Trends

Food and Beverage Processing to Dominate the Demand

  • Food processing is one of the major applications of fumaric acid. Fumaric acid is a common food additive that is used in many processed foods to keep the food stable and to add tartness. Fumaric acid has a sourer flavor than its counterpart citric acid (another common food additive). Fumaric acid naturally occurs in mushrooms, lichen, fumitory, Iceland moss, and bolete. However, for use as a food additive, fumaric acid is produced synthetically, commonly from malic acid from apples.
  • When fumaric acid is used as a food additive, the hydrophobic nature of the product results in long-lasting sourness along with some flavor impact. Fumaric acid also decreases the pH value with minimum additional sourness. The low molecular weight of fumaric acid gives it more buffering capacity than other food acids. Fumaric acid usage also reduces costs, as less quantity is required to be added because of its strength.
  • Many processes and packaged food have fumaric acid for stabilization along with enchasing their flavor. For instance, fumaric acid is added to many processed meats, such as canned meat and bacon. Fumaric acid is also added to frozen food, especially seafood, smoked meats, and the edible casings around sausages might also have fumaric acid added to them.
  • Fumaric acid is also added to certain dairy products to stabilize them and also to add tardiness. Dairy foods such as chocolate milk and eggnog contain this acid to help enhance the flavor. Fumaric acid is added to cheese products, including processed cheese and cheese substitutes.
  • The growing food processing industry, especially in the developing world, is driving the demand for fumaric acid. The demand for canned fish and seafood has witnessed a steady growth over the past few years owing to consumer awareness regarding the nutritional benefits of fish and seafood coupled with the convenience in consumption it provides and the long shelf life it possesses.
  • The Asia-Pacific region is the fastest-growing region in the global market of canned foods, especially canned meat, fish/seafood, and fruits. According to the Food and Agriculture Organization of the United Nations, Asia-Pacific is currently the largest exporter as well as the largest importer of seafood in the world.
  • Countries, such as Japan, Korea, and China, import canned crab meat in high quantities. According to the recent estimates of FAO, China and Korea were the largest importers of crab meat after the United States.
  • The food processing sector in India has been primary export-oriented. However, the local market is also growing, owing to urbanization and consumer preferences. India exported processed food valued at around INR 31,111 crores which mainly consists of processed fruits, vegetables, and meats, including seafood, along with a sizeable chunk of alcoholic beverages.
  • Overall the demand growth for fumaric acid is expected to be high during the forecast period from food processing applications.
Fumaric Acid Market Share

China to Dominate the Asia-Pacific Market

  • In Asia-Pacific, China is the largest economy in terms of GDP. The country witnessed a growth of about 6.1% in its GDP during 2019, even after the trade disturbance caused due to its trade war with the United States.
  • Although China was the first country affected by the COVID-19 outbreak and the related lockdown, it was the first country to come out of lockdown. However, the country has been witnessing recurring cases of coronavirus, leading to further lockdowns. Manufacturing is heavily impacted by this, and the sector is expected to continue with slow growth during 2020. Moreover, a major chunk of the Chinese economy is linked to foreign exports, where demand is still low due to the lockdowns in various countries due to the COVID-19 outbreak. This was negatively affecting the Chinese industry in 2020.
  • The growing construction industry is expected to drive the consumption of various materials such as paints and coatings, adhesives and sealants, and rosin paper, which in turn will increase the production of unsaturated polyester resins and alkyd resins, thereby boosting the demand for fumaric acid in the country through the forecast period.
  • China is one of the major countries in Asia-Pacific with ample construction activities, with the industrial and construction sectors accounting for approximately ~50% of the GDP.
  • Demographics in the country are expected to continue to spur the growth in residential construction. Rising household income levels combined with population migrating from rural to urban areas is expected to continue to drive demand for the residential construction sector in the country. Increased focus on affordable housing by both the public and private sectors will drive growth in the residential construction sector.
  • China has one of the largest pulp and paper industries in the world. China is one of the top three producers of paper in the world. However, owing to environmental concerns, the country announced a ban on all wastepaper imports in 2020. The country is estimated to have eliminated more than 45 million metric ton of backward paper capacity during the last seven years. The new investments in the pulp and paper industry in the country are also slowing due to the strict regulatory controls and low availability of raw materials.
  • The food processing industry is moving toward maturity in the country, witnessing moderate growth. Processed and packaged frozen foods are increasingly becoming popular, especially dairy, baby food, and confectionery products, which stand to be the driver for the food processing industry. In the beverage industry, the trend of the consumption of healthy, natural, and convenient ready-to-drink smoothies, juices, and yogurts is emerging.
  • China is the second-largest market for pharmaceuticals globally. The market for pharmaceuticals is emerging rapidly, owing to the growing middle-class and aging society present in the country, rising incomes, and increasing urbanization. The pharmaceutical sales of the country are expected to reach up to USD 175 billion by 2022. The country has a large and diverse domestic drug industry, comprising around 5,000 manufacturers, of which many are of small- or medium-sized companies. This is expected to boost the growth of fumaric acid used in the pharmaceutical industry.
  • Thus, all the aforementioned factors are projected to show a significant impact on the market in the coming years.
Fumaric Acid Market Growth By Region

Competitive Landscape

The fumaric acid industry is dominated by multiple players in the market with a small but significant market share and is focused on research and innovation. Globally the market becomes highly fragmented, with the top 5 players accounting for around ~30 % of the market as various small players contribute to the regional demand. Some prominent players in the market include FUSO CHEMICAL CO. LTD, Polynt, Bartek Ingredients Inc., Changmao Biochemical Engineering Company Limited, and XST Biological Co. Ltd.

Recent Developments

  • In July 2019, Thirumalai Chemicals approved a proposal to set up a subsidiary to establish and operate a food ingredients manufacturing facility (including malic and fumaric acid) in the United States. This facility will have a capacity of about 30,000 metric ton a year to address the growing demand in the global market, including North America.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Growing Application in the Food and Beverage Industry

      2. 4.1.2 Other Drivers

    2. 4.2 Restraints

      1. 4.2.1 Health Hazard Related to Fumaric Acid

      2. 4.2.2 Impact of the COVID-19 Outbreak

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Food Grade

      2. 5.1.2 Technical Grade

    2. 5.2 Application

      1. 5.2.1 Food and Beverage Processing

      2. 5.2.2 Rosin Paper Sizing

      3. 5.2.3 Unsaturated Polyster Resin

      4. 5.2.4 Alkyd Resin

      5. 5.2.5 Personal Care and Cosmetics

      6. 5.2.6 Other Applications

    3. 5.3 End-user Industry

      1. 5.3.1 Food and Beverage

      2. 5.3.2 Cosmetics

      3. 5.3.3 Pharmaceutical

      4. 5.3.4 Chemical

      5. 5.3.5 Other End-user Industries

    4. 5.4 Geography

      1. 5.4.1 Asia-Pacific

        1. 5.4.1.1 China

        2. 5.4.1.2 India

        3. 5.4.1.3 Japan

        4. 5.4.1.4 South Korea

        5. 5.4.1.5 Rest of Asia-Pacific

      2. 5.4.2 North America

        1. 5.4.2.1 United States

        2. 5.4.2.2 Canada

        3. 5.4.2.3 Mexico

      3. 5.4.3 Europe

        1. 5.4.3.1 Germany

        2. 5.4.3.2 United Kingdom

        3. 5.4.3.3 France

        4. 5.4.3.4 Italy

        5. 5.4.3.5 Rest of Europe

      4. 5.4.4 South America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Argentina

        3. 5.4.4.3 Rest of South America

      5. 5.4.5 Middle-East and Africa

        1. 5.4.5.1 Saudi Arabia

        2. 5.4.5.2 South Africa

        3. 5.4.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Anmol Chemicals

      2. 6.4.2 Bartek Ingredients Inc.

      3. 6.4.3 ESIM Chemicals

      4. 6.4.4 FUSO CHEMICAL CO. LTD

      5. 6.4.5 Merck KGaA

      6. 6.4.6 Polynt

      7. 6.4.7 Thirumalai Chemicals Ltd

      8. 6.4.8 UPC Technology Corporation

      9. 6.4.9 YONGSAN CHEMICALS

      10. 6.4.10 XST Biological Co. Ltd

      11. 6.4.11 Changmao Biochemical Engineering Company Limited

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Emergence of New Potential Application Areas

**Subject to Availability

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Frequently Asked Questions

The Fumaric Acid Market market is studied from 2016 - 2026.

The Fumaric Acid Market is growing at a CAGR of >4% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

FUSO CHEMICAL CO., LTD., Polynt, Bartek Ingredients Inc., XST Biological Co., Ltd , Changmao Biochemical Engineering Company Limited are the major companies operating in Fumaric Acid Market.

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