Global Malic Acid Market Analysis and Forecast, 2019-2028

Introduction

Malic acid is a naturally occurring organic acid that is widely used in various food and beverage applications as a flavor enhancer, pH regulator, and chelating agent. It is also used in the cosmetic, pharmaceutical, and animal feed industries. In recent years, there has been an increasing demand for malic acid in the food and beverage industry due to its applications in the production of sour candies, fruit-flavored beverages, and other food products.

The global malic acid market is expected to grow at a steady pace due to the increasing demand for sour and tart-flavored food products. The growing demand for malic acid in the food and beverage industry is expected to drive the growth of the market in the coming years.

Market Size

The global malic acid market size was valued at USD 1.7 billion in 2020 and is expected to grow at a CAGR of 5.3% from 2021 to 2028. The growth of the market can be attributed to the increasing demand for food and beverages with a tart or sour flavor, which has driven the demand for malic acid as an ingredient.

Market Segmentation

The global malic acid market can be segmented based on form, application, end-use industry, and region. Based on form, the market can be segmented into liquid and powder. The powder form segment is expected to grow at a faster rate due to its ease of use and long shelf life. Based on application, the market can be segmented into food and beverage, cosmetic, pharmaceutical, and animal feed. The food and beverage segment are expected to hold a dominant share of the market due to the growing demand for sour and tart-flavored products. Based on end-use industry, the market can be segmented into confectionery, beverage, dairy, and bakery. The beverage segment is expected to hold a significant share of the market due to the growing demand for fruit-flavored beverages.

Regional Analysis

Geographically, the global malic acid market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Asia Pacific is expected to hold a dominant share of the market due to the presence of a large number of food and beverage manufacturers in the region. The region is also home to a large number of consumers who prefer sour and tart-flavored food products. Europe is expected to grow at a steady pace due to the presence of a large number of confectionery and bakery manufacturers in the region. North America is also expected to grow at a steady pace due to the increasing demand for sour candies and other food products in the region.

Competitive Landscape

The global malic acid market is highly fragmented with a large number of players operating in the market. Key players in the market include Tate & Lyle, Cargill, Jungbunzlauer, Foodchem International Corporation, and American Ingredients Company. These players are focusing on expanding their product portfolio, investing in research and development, and establishing strategic partnerships with food and beverage manufacturers to increase their market share.