Malic Acid Market Size, Share & Trends Analysis Report By Product (L-Malic Acid, D-Malic Acid), By Application (Food & Beverages, Pharmaceuticals), By Region (Europe, Asia Pacific), And Segment Forecasts, 2023 - 2030

Malic Acid Market Size, Share & Trends Analysis Report By Product (L-Malic Acid, D-Malic Acid), By Application (Food & Beverages, Pharmaceuticals), By Region (Europe, Asia Pacific), And Segment Forecasts, 2023 - 2030

Malic Acid Market Growth & Trends

The global malic acid market size is projected to reach USD 324.71 million by 2030, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 5.2% during the forecast period. An increase in the consumption of food products and beverages is a major factor driving the market growth. Food & beverages include bakery products, desserts, candies, carbonated drinks, juices, and many other products. The growing demand for bakery products, especially among the young population, to have low-fat and nutrient-rich food is expected to increase the use of malic acid in food & beverage applications. Moreover, the growing consumption of Ready-To-Drink(RTD) beverages, especially in emerging economies like China and India, is expected to steer the product demand over the forecast period.

Asia Pacific is a substantially large market for malic acid due to the presence of global multinational companies in the region with high demand from end-use markets, such as food & beverages, personal care & cosmetics, textiles, and pharmaceuticals. The region is estimated to grow at a steady CAGR from 2023 to 2030. The outbreak of the COVID-19 pandemic has influenced the food & beverage industry positively. Lockdowns imposed by numerous countries across the globe have led to high demand for RTE food products. The growing demand for convenience food products and stockpiling of these products during the lockdown had a positiveimpact on the global market growth.

Malic Acid Market Report Highlights

• In 2022, food & beverages emerged as the largest application segment, in which, a majority of the demand is from fruit & vegetable juices, jams, wines, carbonated drinks, candies, desserts, bakery products, etc.
• In 2022, the personal care & cosmetic application segment accounted for a considerable revenue share due to thehigh product demand for tanning creams, facial creams, body moistures, cleansing foams soaps, acne medicines anti-aging creams, etc.
• In 2022, L-malic acid emerged as the largest product segment.It is expected to grow rapidly over the forecast period due to the growing importance of L-malic acid in treating heart diseases
• In 2022, Asia Pacific was the leading regional market. Emerging economies in Asia Pacific, such as China, India, and Japan, are the key manufacturing countries in the region, with China as the global manufacturing leader
• Global companies are also focusing on capacity expansions, signing partnership agreements with distributors, and various other operational strategies to gain an edge in the competitive market

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