Fumaric Acid Market size was valued at USD 762.8 million in 2021, growing at a CAGR of 4.8% during the forecast period from 2022 to 2028. 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 fumaric acid 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 global fumaric acid market is segmented into Food and Beverage Processing, Rosin Paper Sizing, Unsaturated Polyester Resin, Alkyd Resin, Personal Care & Cosmetics, and Others. Among these, the food and beverage processing segment is expected to have the fastest-growing market during the forecast period 2022-2028.
In May 2021, Nestle made the decision to engage in several projects in order to expand its brand recognition and product line in the country. Nestle intends to invest around USD 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.