Malic Acid Market Size and Growth Rate:
According to the Research Report by Research Cosmos, The Global Malic Acid Market Size is projected to reach USD 217.8 million by 2023 with 4.70% CAGR during the forecast period from 2017 to 2023.
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Malic Acid Market Overview:
Malic acid is produced commercially as maleic anhydride. This process involves the double hydration of the malic anhydride to produce a racemic mixture of the two isomers of malic acid. It exists in the form of a white crystal at room temperature. It forms a homogeneous mixture with water and is easily soluble in organic solvents such as ethanol.
Malic Acid Market Growth Drivers, Challenges and Opportunities:
Malic acid is used primarily as a food additive to improve the spice (acidity). More time can be stored in products with antibacterial and pH control capabilities. Therefore, it is used to conserve food and beverages. The market for malic acid is expanding with the growing adoption of beverages and convenience foods due to the growth of the urban population. In addition, malic acid constantly replaces antibiotics in animal nutrition and, therefore, also increases the demand for animal feed. However, it is expected that the volatility of raw material costs will be a major deterrent factor for global markets. In addition, the evolution of new innovative ingredients in the food and beverage industry opens up new opportunities for spices and preservatives such as maltose. Malic acid easily replaces the citric acid in the detergent industry, so cleaner applications and detergents offer new opportunities in the world market.
Malic Acid Market Geographic Segmentation:
Geographically, the Asia-Pacific region has led the world market and is expected to maintain market dominance in the future. In addition, the awareness of health in the fight against obesity is driving the growth of apples in the United States, France, Germany and the United Kingdom. Due to the significant demand for malic acid in the food processing industry, it is expected that he MEA market would thrive in the near future. In countries like India, China and Malaysia, the high presence of the food and beverage industry is the dominant factor in the overall market in Asia-Pacific. Many market participants with a rapidly growing population in Asia Pacific are another important factor supporting the growth of the market in this region. In addition, improvements in the infrastructure and the technical capacity of the food and beverage industry are expected to provide potential opportunities all over the world.
Key market players of the Malic Acid Market:
Some companies have expanded their production capacity and distribution network. Multinationals companies are focusing on acquisitions and mergers as the most important strategy to expand our global customer base. Among the leading companies in the world market for malic acids are the Chemical Company, Thirumalai Chemicals Ltd, Bartek Ingredients Inc., Chemicals LLC, Novozymes, Prinova LLC, Polynti FUSO Chemical Co. Ltd.