Malic acid is one of the most preferred acidulants and flavoring agents in the food processing industry. It has excellent blending and flavor-enhancing properties and finds a wide range of applications in the food and beverage industry. Growing food and beverage processing industries, particularly in emerging economies of China, India, Brazil, and Thailand, are estimated to impact malic acid market growth over the forecast period positively. The Environmental Protection Agency (EPA) and the European Commission have chalked out regulations to improvise the utilization and production of naturally derived ingredients owing to rising concerns regarding lowering greenhouse gas emissions. As a result, the food & beverage manufacturers are applying special efforts to fortify naturally derived additives in their products to earn relevant carbon benefits and reduce dependency on synthetic products for a sustainable future. The increased product demand from food and beverage industry, especially in the Asian and Middle Eastern markets, is expected to be a major driver for the adoption of malic acid. This can be attributed to the rising domestic consumption of food & beverage products mainly due to well-established network of retail outlets, launch of new products, and population growth. All these factors are expected to promote growth of the industry in developing regions of the world.
Bakery & confectionery products mainly comprise breakfast cereals, frozen bakery, frozen desserts, chocolates, cakes, and other similar baked food products. Rising consumer awareness and increased preference for healthier low-fat diet in breakfast are expected to drive the cereals demand over the forecast period, which, in turn, is expected to surge the demand for malic acid. Bakery & confectionery products are gaining popularity across the globe due to improved standards of living and increasing number of nuclear families & working women, particularly in urban and semi-urban areas in various developing countries. According to an article published by the United States Department of Agriculture (USDA) in January 2021, the retail estimated sales of baked goods including both packaged and unpackaged products, in China stood at USD 34 billion in 2020 and it is estimated to reach around USD 53 billion by 2025 due to growing consumer incomes and western lifestyle in Chinese cities. Moreover, increased demand for flavored bakery and confectionery products, such as desserts, donuts, muffins, and cakes, during regional festivals and mass gatherings is expected to drive the demand for food acids such as malic, fumaric, tartaric, and citric acid over the forecast period.
Additionally, the changing eating habits and food preferences are expected to drive the bakery & confectionery product demand. Malic acid is added to bakery products, such as cakes, cookies, pies, and others, especially with fruit filling, which imparts a balanced and stronger flavor. Growing confectionery industry and natural flavoring agent demand, particularly in Asia Pacific and Europe, is estimated to positively impact malic acid market growth over the forecast period.
The COVID-19 virus has weakened economies worldwide and severely impacted the supply chains across industries. The production and consumption of malic acid are influenced by its demand from end-use industries. Thus, any fluctuations in the demand from end-use industries are anticipated to impact the demand for malic acid directly. The food & beverage industry is a major consumer of malic acid. The outbreak of the COVID-19 pandemic has influenced the food & beverage industry positively. Lockdowns imposed by numerous countries across the globe have led to high demand for ready to eat food products. The growing demand for convenience food products and stockpiling of food products during the global marketplace lockdown has positively impacted the global malic acid market growth.
Furthermore, the demand for cosmetic products has seen a sharp decline due to the lockdowns imposed in various countries, including France, the UK, Italy, Germany, and India. Disruptions in the supply chain, such as difficulty sourcing raw material in cosmetics markets, have negatively impacted its production. The demand for malic acid in cosmetics is thus hampered during the pandemic.
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Market drivers and restraints
Key market opportunities prioritized
Latest strategic developments
Market size, estimates, and forecast from 2018 to 2030
Market estimates and forecast for product segments up to 2030
Regional market size and forecast for product segments up to 2030
Market estimates and forecast for application segments up to 2030
Regional market size and forecast for application segments up to 2030
Company financial performance
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