Portland, OR, Dec. 09, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global malic acid market garnered $187.6 million in 2021, and is estimated to generate $279.8 million by 2031, manifesting a CAGR of 4.1% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.
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Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $187.6 million |
| Market Size in 2031 | $279.8 million |
| CAGR | 4.1% |
| No. of Pages in Report | 231 |
| Segments covered | Type, Application, and Region. |
| Drivers | A wide range of applications of malic acid in the food & beverage industry owing to its compatibility with various types of flavors |
| Rise in population in both developed and developing economies | |
| Rise in import and export of various cosmetics and skincare products | |
| Surge in fashion trend among consumers | |
| Adoption of western culture | |
| Opportunities | Up-gradation in technology |
| Restraints | Habitual use of malic acid may have side effects on human health such as irritation to the skin, dermal sensitizer, and irritation in the eyes |
| Fluctuation in the prices of raw material of malic acid |
Covid-19 Scenario:
- The malic acid market was impacted moderately due to the wake of the COVID-19 pandemic.
- There was a significant decrease in the number of covid-19 cases in the fourth quarter of 2020 owing to which the market experienced an upsurge in the demand for personal care, consumer products, and hygiene related products.
- Furthermore, government support for pharmaceutical industry and high supply chain in the consumption of healthy fruit juice, and vegetables increased during the COVID-19 pandemic. This in turn, impacted the market positively.
- In addition, as the restrictions were lifted in the fourth quarter of the pandemic, the pharmaceutical, food and beverages, and other end use sectors started to recover. In the first quarter of 2021, the market for malic acid experienced an increased growth due to the rising demand for malic acid from pharmaceutical sector, food and beverages, and consumer products.
The research provides detailed segmentation of the global malic acid market based on Type, Application, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
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Based on application, the food and beverages segment held the highest share in 2021, accounting for more than three-fifths of the global malic acid market, and is expected to continue its leadership status during the forecast period. However, the personal care and cosmetics segment is expected to register the highest CAGR of 4.5% from 2022 to 2031.
Based on type, the LD-malic acid segment accounted for the highest share in 2021, contributing to around two-fifths of the global malic acid market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the L-malic acid segment is expected to manifest the highest CAGR of 4.4% from 2022 to 2031.
Based on region, Asia-Pacific held the largest share in 2021, contributing to nearly half of the global malic acid market share, and is projected to maintain its dominant share in terms of revenue in 2031. In addition, the same region is expected to manifest the fastest CAGR of 4.8% during the forecast period. The research also analyzes regions including North America, Europe, and LAMEA.
Leading market players of the global malic acid market analyzed in the research include Anhui Sealong Biotechnology Co., Ltd., Bartek Ingredients Inc., Changmao Biochemical Engineering Company Limited, FUSO CHEMICAL CO., LTD., isegen south africa (pty) ltd, POLYNT SPA, Prinova Group LLC., Thirumalai Chemicals Ltd., YONGSAN CHEMICALS, INC., and Zhonglan Industry Co., Ltd.
The report provides a detailed analysis of these key players of the global malic acid market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
