NEW YORK, Jan. 4, 2022
Increasing Consumption of Energy Drinks to Push Fumaric Acid Market Value Past US$ 645 Mn
In its latest study, Fact.MR provides the supply chain and industry life cycle analysis of the global fumaric acid market from the period of 2022 to 2032. Besides, it also highlights various growth opportunities associated with the leading segments in terms of extraction type, end-use industry, and application across six major regions.
NEW YORK, Jan. 4, 2022 /PRNewswire/ -- The global fumaric acid market size is projected to reach US$ 645 Mn, with sales increasing at a CAGR of 6.7% between 2022 and 2032, predicts Fact.MR. High demand for fumaric acid from the food and beverage industry is anticipated to propel the market in the near future.
Rising usage of fumaric acid as an additive in ready-to-drink beverages is likely to drive its demand globally. As per Fact.MR, this acid is used to maintain the quality and stabilize the energy drinks over time.
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Further, fumaric acid is set to be increasingly utilized in various health drinks to mask the after-tastes of antioxidants, nutraceuticals, amino acids, plant extracts, and vitamins. It also aids in adjusting the pH level and improving the flavors of such drinks.
The British Dietetic Association (BDA) states that in 2014, approximately 600 million liters of energy drinks were sold in the U.K. and the consumption was the highest among the age group of 10 to 14 years. This number is anticipated to rise in the forthcoming years and drive the fumaric acid market.
"Increasing disposable income of people is expected to spur the demand for ready-to-eat food items and packed beverages across the globe. Additionally, the emergence of exotic flavors on the back of changing dietary patterns and increasing health consciousness among people is projected to augment the growth in this market," says a Fact.MR analyst.
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The fumaric acid market players are currently focusing on broadening their manufacturing capacities to cater to the high consumer demand. Meanwhile, some of the other players are striving to strengthen their positions in the market by engaging in joint ventures and strategic partnerships.
Key Players in the Fumaric Acid Market Include:
More Valuable Insights on Fumaric Acid Market
Fact.MR provides an unbiased analysis of the fumaric acid market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032. The study divulges compelling insights on the global fumaric acid market with a detailed segmentation on the basis of:
Key Questions Covered in Fumaric Acid Market Report
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