FUMARIC ACID MARKET ANALYSIS

Fumaric Acid Market, By Type (Food Grade and Technical Grade), By Application (Food & Beverage Processing, Rosin Paper Sizing, Unsaturated Polyester Resin, Alkyd Resin, Personal Care & Cosmetics, Other Applications), By End User Industry (Food and Beverage, Cosmetics, Pharmaceutical, Chemical, Other End user Industries), By Geography (North America, Latin America, Europe, Middle East & Africa, and Asia Pacific)

Published In : Sep 2023
Code : CMI5171
Pages :162
Formats :
Excel and PDF
Industry : Specialty and Fine Chemicals

Regional Analysis

Fumaric Acid Market: Regional Analysis

The Fumaric Acid Market was valued at US$ 266.4 Mn in 2022 and is forecast to reach a value of US$ 381.6 Mn by 2030 at a CAGR of 4.6% between 2022 and 2030. North America held dominant position in the Fumaric Acid Market in 2020, accounting for 38.5% share in terms of volume, followed by Europe and Asia Pacific, respectively. Asia Pacific is expected to account for the largest market share of Fumaric acid during the forecast period. This is mainly due to the growing demand for convenience foods and drinks, as a result of changes in lifestyle and hectic work schedules, as well as the increase in per capita disposable income, which has improved the standard of living in the region. In addition, the food and beverages industry is expected to grow rapidly in this region due to the development of new food innovations and the development of various health products. This will further increase the demand for fumaric acid.

Figure 2. Global Fumaric Acid Market Share (%) in terms of Volume, By Region, in 2022