Global fumaric acid market is set to witness a substantial CAGR of 6.61% in the forecast period of 2020- 2026. Fumaric acid is a colorless chemical compound which is water soluble solid and is usually found in different plants or are made synthetically. They usually have fruit like taste and are used as food acidulants. They have the ability to control the growth of microorganisms and also improve the flavour. They are also used in used as a substitute for tartaric acid in drinks and baking powders of synthetic resins.
Key Market Competitors: Global Fumaric Acid Market
Few of the major competitors currently working in the global fumaric acid market are Thirumalai Chemicals Ltd.; Polynt; FUSO CHEMICAL CO., LTD; Jiangsu Jiecheng Bioengineering Co., Ltd.; Isegen South Africa (Pty) Ltd; Tate & Lyle; TCI Chemicals (India) Pvt. Ltd; SIP CHEMICAL INDUSTRIES; Khusheim Holding; Bartek Ingredients Inc; The Chemical Company; NIPPON SHOKUBAI CO., LTD.; ESIM Chemicals; Dastech International Inc.; Prinova Group LLC.; Huntsman International LLC; XST Biological Co., Ltd.; Merck KGaA,; China National Bluestar (Group) Co,Ltd.; among others.
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Segmentation: Global Fumaric Acid Market
- By Application (Food Additive, Rosin Paper Sizes, UPR, Alkyd Resins, Animal Feed, Others)
- By End- User (Food and Beverages Industry, Cosmetics Industry, Pharmaceutical Industry, Chemical Industry)
- By Extraction Type (Fumaria Officinalis, Maleic Anhydride, Fermentation)
- By Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa)
Competitive Analysis: Global Fumaric Acid Market
Global fumaric acid market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of fumaric acid market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Market Drivers:
- Increasing application of fumaric acid is driving the market growth
- Growing demand for convenience food & beverage will also accelerate the market growth
- Growth in construction industry is another factor uplifting the growth of the market
- Rising disposable income acts as a market driver in the forecast period
- Growing popularity of health and sports drink will also drive the market
Market Restraints:
- Strict government regulations will restrain the market growth
- Availability of substitute in the market also hinder the growth of this market
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Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved
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