A three-pronged approach was followed for deducing the malic acid market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:
Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for malic acid market to gather the most reliable and current information possible.
Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of malic acid market data depending on the type of information we’re trying to uncover in our research.
Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.
Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.
Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.
Qualitative Functional Deployment (QFD) Modelling for market share assessment.
Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.
Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.
Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.
This step also entails the finalization of the report scope and data representation pattern.
Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.
The malic acid market was categorized into four segments, namely product (L-Malic Acid, D-Malic Acid, DL-Malic Acid), application (Food & Beverages, Pharmaceuticals, Personal Care & Cosmetics, Textiles, Metals), and regions (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa).
The malic acid market was segmented into product, application, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:
Demand estimation of each product across countries/regions summed up to from the total market.
Variable analysis for demand forecast.
Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.
Primary interviews for data revalidation and insight collection.
Used extensively for new product forecasting or analyzing penetration levels.
Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.
Primary interviews and vendor-based primary research for variable impact analysis.
The malic acid market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into seventeen countries, namely, the U.S.; Canada; Mexico; Germany; the UK.; France; Italy; Spain; Russia; China; Japan; India; South Korea; Brazil; Argentina; Saudi Arabia; and South Africa
All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.
The malic acid market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:
Bartek Ingredients Inc. - Bartek Ingredients Inc. is engaged in the production and distribution of malic acid, maleic anhydride, and fumaric acid. Products manufactured by the company find applications in industries such as food & beverages, animal nutrition, and pharma & personal care. It operates through its distributors in more than 35 countries across the globe. The company has two production plants located in Southern Ontario. Its production facilities are registered under ISO 9001:2015 standard.
FUSO CHEMICAL CO., LTD - Fuso Chemical Co., Ltd. is a Japan-based chemical manufacturing company engaged in the production of various types of acid and derivatives. Product portfolio of the company comprises malic acid & derivatives, citric acid & derivatives, L- Tartaric acid & derivatives, lactic acid & derivatives, gluconic acid & derivatives, ascorbic acid & derivatives, amino acids & derivatives, and others. The company has operations in Japan, China, and Thailand markets, and its production facilities are based out in Japan.
Isegen South Africa (Pty), Ltd. - Isegen South Africa (Pty), Ltd. is involved in producing food acids. Product portfolio of the company comprises malic acid, fumaric acid, plasticizers, anhydrides, chlorinated paraffin, dibutyl maleate, dimethyl phthalate pentaerythritol, and chlorinated paraffin. The company operates through its production facilities located in Durban and Johannesburg and distributors in more than 35 countries.
Anhui Sealong Biotechnology Co., Ltd. - Anhui Sealong Biotechnology Co., Ltd. has been involved in the manufacturing of food additives. Its product portfolio includes DL malic acid, fumaric acid, potassium malate, PBS, and maleic anhydride. The company undertakes research and development Activities performed by a doctoral supervisor, along with doctors, masters, and undergraduates. It owns five patents and also has a tie-up with Beijing Institute of Technology and Nanjing University of Technology for research and development activities. Online orders can also be placed for the company's products.
Thirumalai Chemicals Ltd. - Thirumalai Chemicals Ltd. started its business in 1973. The Thirumalai group comprises five organizations, namely Thirumalai Chemicals Limited, Chemidye, Ultramarine & Pigments Limited, Optimistic Organic Sdn. Bhd., and Lapiz Digital Services. The product portfolio of the company includes phthalic anhydride, malic acid, fumaric acid, and fine chemicals. The company operates in more than 30 countries and has offices in India and Malaysia. It also operates through a distribution and liquid storage terminal at Chennai port.
YONGSAN CHEMICALS - Yongsan Chemicals is engaged in the production of malic acid and its derivatives. The company has three subsidiaries named Korea PTG, Yongsan Mitsui Chemicals, and Kemira Yongsan Chemicals. Its product portfolio comprises maleic anhydride, fumaric acid, tetrahydro phthalic anhydride, dimethylaminoethyl acrylate methyl chloride quaternary salt, and DL malic acid.
Polynt - Polynt is involved in the manufacturing of organic anhydrides and their derivatives. The company sells its products through its three segments including composites, intermediates, and coatings. Products of a company find their application in several end-use industries including agrochemicals, automotive, chemical, cattle feed coatings, cosmetics, detergents, food & beverage, furniture, electronic & electrical, and many others. The company operates through its several production facilities in China, Spain, Germany, Poland, France, the UK, Hong Kong, and Italy.
Lonza - Lonza is a chemical manufacturing and biotechnology company with offices in more than 120 countries located across the globe. The company operates through its five business segments, including Pharma Biotech & Nutrition, live biotherapeutic products, specialty ingredients, microbial control solutions, and specialty chemical services. The company operates through its 37 manufacturing sites and 14 research and development centers worldwide. Lonza is having more than 792 brands in its product portfolio and over 569 active patents.
Prinova Group LLC - Prinova Group LLC is a manufacturer and distributor of ingredients. Business operation of the company is divided into four segments, namely nutrients, premixes & customs solutions, ingredients, flavors, and aromas. Products offered by the company find applications in sports & lifestyle nutrition, food & beverages, infant & early life, animal nutrition, and fragrances & personal care. The company operates through its 6 manufacturing facilities along with 15 regional offices and 35 distribution centers located across the globe.
Nacalai Tesque, Inc - Nacalai Tesque, Inc. is a manufacturer and distributor of life science reagents. The product portfolio of the company comprises research chemicals and fine chemicals. It operates through its 16 sales offices in Japan along with more than 50 distributors across the globe. The company's research & development center and production facility are located in Kyoto, Japan.
Supply Side Estimates
Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.
Segment revenue determination via variable analysis and penetration modeling.
Competitive benchmarking to identify market leaders and their collective revenue shares.
Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.
Demand side estimates
Identifying parent markets and ancillary markets
Segment penetration analysis to obtain pertinent
Heuristic forecasting with the help of subject matter experts
Forecasting via variable analysis
Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.
Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.
Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.
The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.
The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.
We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.
All market estimates and forecasts have been validated through primary interviews with the key industry participants.
Inflation has not been accounted for to estimate and forecast the market.
Numbers may not add up due to rounding off.
Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).
Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).
Latin America includes Central American countries and the South American continent
Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.
GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.
We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:
Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.
Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.
The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.
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