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Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand f.....
Fumaric Acid Market size was valued at US$ 762.8 million in 2023 and is poised to grow at a CAGR of 4.8% from 2024-2030. The global market provides a detailed overview of the market, and that can be segmented by product type, by application. By product type, the global market has been segmented into Food Grade, Technical Grade. The food grade segment is likely to be the largest and fastest-growing segment in terms of product type. Based on application, the market is segmented into Food and Beverage Processing, Rosin Paper Sizing, Unsaturated Polyester Resin, Alkyd Resin, Personal Care and cosmetics, and Others. Among these, the food and beverage processing segment is expected to have the fastest-growing market.
In May 2021, Nestle decided to engage in several projects to expand its brand recognition and product line in the country. Nestle intends to invest around US$ 103.4 million in the capacity expansion of its current pet food plant in Tianjin and its first plant-based product manufacturing facility in Asia.
Study Period
2024-2030Base Year
2023CAGR
4.8%Largest Market
Asia PacificFastest Growing Market
Asia Pacific
Fumaric acid is used as an acidulant, a pH controller, and a flavor enhancer in the food and beverage industry. The increased usage of flavoring additives and the rising popularity of processed foods has led to an increase in the demand for fumaric acid on the international market. Rosin paper sizes, medical & healthcare, and printing inks are some additional significant fumaric acid end-users. Important market potential for fumaric acid is anticipated to arise throughout the forecasted period due to increased demand for sports and health drinks.
By region, Asia Pacific region held the most significant regional share in 2021 and expected to witness the highest market share during the forecast period due to increasing demand for convenience food, growth in per capita income, and a population increase anticipated to remain dominant during the projection period.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 762.8 million |
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Market CAGR |
4.8% |
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By Product Type |
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By Application |
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By Region |
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The global fumaric acid market size was valued at US$ 762.8 million in 2023 and is projected to grow at a CAGR of 4.8% from 2024-2030.
The fumaric acid-related health risk is a factor that can hinder the market growth.
The major key players in the fumaric acid market are Bartek Ingredients Inc., Dastech International, Fuso Chemical Co., Ltd., Polynt, Prinova Group, Changzhou Yabang Chemical Co. Ltd., Nippon Shokubai, The Chemical Company, Thirumalai Chemicals, U.S. Chemicals, Wego Chemical Group, and Huntsman Corporation.
| 1. Executive Summary |
| 2. Global Fumaric Acid Market Introduction |
| 2.1. Global Fumaric Acid Market Taxonomy |
| 2.2. Global Fumaric Acid Market Definitions |
| 2.2.1. Product Type |
| 2.2.2. Application |
| 3. Global Fumaric Acid Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Global Fumaric Acid Market Dynamic Factors - Impact Analysis |
| 3.6. Global Fumaric Acid Market Competition Landscape |
| 4. Global Fumaric Acid Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 |
| 4.1. Market Analysis,2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5. Global Fumaric Acid Market, By Product Type, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.1. Food Grade |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Technical Grade |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 6. Global Fumaric Acid Market, By Application, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.1. Food and Beverage Processing |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Rosin Paper Sizing |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Unsaturated Polyester Resin |
| 6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. Alkyd Resin |
| 6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 6.5. Personal Care & Cosmetics |
| 6.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.5.3. Market Opportunity Analysis |
| 6.6. Others |
| 6.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.6.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.6.3. Market Opportunity Analysis |
| 7. Global Fumaric Acid Market Forecast, By Region, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 7.1. North America |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Europe |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Asia-Pacific |
| 7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Latin America |
| 7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 7.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. Middle East and Africa |
| 7.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 7.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 7.6. Global Fumaric Acid Market - Opportunity Analysis Index, By Product Type, Application and Region, 2024 - 2030 |
| 8. North America Fumaric Acid Market Analysis 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 8.1. Product Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 8.1.1. Food Grade |
| 8.1.2. Technical Grade |
| 8.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 8.2.1. Food and Beverage Processing |
| 8.2.2. Rosin Paper Sizing |
| 8.2.3. Unsaturated Polyester Resin |
| 8.2.4. Alkyd Resin |
| 8.2.5. Personal Care & Cosmetics |
| 8.2.6. Others |
| 8.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 8.3.1. USA |
| 8.3.2. Canada |
| 8.4. North America Fumaric Acid Market - Opportunity Analysis Index, By Product Type, Application, and Country, 2024 - 2030 |
| 8.5. North America Fumaric Acid Market Dynamics Trends |
| 9. Europe Fumaric Acid Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 9.1. Product Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1. Food Grade |
| 9.1.2. Technical Grade |
| 9.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 9.2.1. Food and Beverage Processing |
| 9.2.2. Rosin Paper Sizing |
| 9.2.3. Unsaturated Polyester Resin |
| 9.2.4. Alkyd Resin |
| 9.2.5. Personal Care & Cosmetics |
| 9.2.6. Others |
| 9.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 9.3.1. Germany |
| 9.3.2. UK |
| 9.3.3. France |
| 9.3.4. Spain |
| 9.3.5. Italy |
| 9.3.6. Russia |
| 9.3.7. Poland |
| 9.3.8. Rest of Europe |
| 9.4. Europe Fumaric Acid Market - Opportunity Analysis Index, By Product Type, Application, and Country, 2024 - 2030 |
| 9.5. Europe Fumaric Acid Market Dynamics Trends |
| 10. Asia-Pacific Fumaric Acid Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 10.1. Product Type Analysis 2019 - 2023 and Forecast 2024 - 2030by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1. Food Grade |
| 10.1.2. Technical Grade |
| 10.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 10.2.1. Food and Beverage Processing |
| 10.2.2. Rosin Paper Sizing |
| 10.2.3. Unsaturated Polyester Resin |
| 10.2.4. Alkyd Resin |
| 10.2.5. Personal Care & Cosmetics |
| 10.2.6. Others |
| 10.3. Country Analysis2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 10.3.1. Japan |
| 10.3.2. China |
| 10.3.3. India |
| 10.3.4. ASEAN |
| 10.3.5. Australia & New Zealand |
| 10.3.6. Rest of Asia-Pacific |
| 10.4. Asia-Pacific Fumaric Acid Market - Opportunity Analysis Index, By Product Type, Application, and Country, 2024 - 2030 |
| 10.5. Asia-Pacific Fumaric Acid Market Dynamics Trends |
| 11. Latin America Fumaric Acid Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 11.1. Product Type Analysis 2019 - 2023 and Forecast 2024 - 2030by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1. Food Grade |
| 11.1.2. Technical Grade |
| 11.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 11.2.1. Food and Beverage Processing |
| 11.2.2. Rosin Paper Sizing |
| 11.2.3. Unsaturated Polyester Resin |
| 11.2.4. Alkyd Resin |
| 11.2.5. Personal Care & Cosmetics |
| 11.2.6. Others |
| 11.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 11.3.1. Brazil |
| 11.3.2. Mexico |
| 11.3.3. Argentina |
| 11.3.4. Rest of Latin America |
| 11.4. Latin America Fumaric Acid Market - Opportunity Analysis Index, By Product Type, Application, and Country, 2024 - 2030 |
| 11.5. Latin America Fumaric Acid Market Dynamics Trends |
| 12. Middle East and Africa Fumaric Acid Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 12.1. Product Type Analysis 2019 - 2023 and Forecast 2024 - 2030by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1. Food Grade |
| 12.1.2. Technical Grade |
| 12.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 12.2.1. Food and Beverage Processing |
| 12.2.2. Rosin Paper Sizing |
| 12.2.3. Unsaturated Polyester Resin |
| 12.2.4. Alkyd Resin |
| 12.2.5. Personal Care & Cosmetics |
| 12.2.6. Others |
| 12.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 12.3.1. Gulf Cooperation Council (GCC) Countries |
| 12.3.2. Israel |
| 12.3.3. South Africa |
| 12.3.4. Rest of MEA |
| 12.4. MEA Fumaric Acid Market - Opportunity Analysis Index, By Product Type, Application, and Country, 2024 - 2030 |
| 12.5. MEA Fumaric Acid Market Dynamics Trends |
| 13. Competition Landscape |
| 13.1. Strategic Dashboard of Top Market Players |
| 13.2. Company Profiles (Introduction, Financial Analysis, Technology & Service Offerings, Key Developments, Strategies, and SWOT Analysis) |
| 13.2.1. FUSO CHEMICAL CO., LTD. |
| 13.2.2. Bartek Ingredients Inc. |
| 13.2.3. Thirumalai Chemicals Ltd. |
| 13.2.4. UPC Technology Corporation. |
| 13.2.5. YONGSAN CHEMICALS. |
| 13.2.6. XST Biological Co., Ltd. |
| 13.2.7. Changmao Biochemical Engineering Company Limited. |
| 13.2.8. Prinova Group LLC. |
| 13.2.9. WEGO CHEMICAL GROUP |
| 13.2.10. The Chemical Company. |
| 14. Research Methodology |
| 15. Key Assumptions and Acronyms |
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.