Malonic Acid Market to Grow with a CAGR of 4.11% through 2028
Growing utilization in
various industries, such as food and beverage, pharmaceuticals, and agriculture
are factors driving the Global Malonic Acid Market in the forecast period 2024-2028.
According to
TechSci Research report, “Malonic Acid Market – Global Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2028”, the Global Malonic
Acid Market stood at USD 97.45 million in 2022 and is anticipated to grow with
a CAGR of 4.11% in the forecast period, 2024-2028. Malonic acid falls under the
category of alpha-hydroxy acids, a classification based on its molecular
structure. Other alpha-hydroxy acids, such as glycolic acid, tartaric acid,
lactic acid, and citric acid, share this structural characteristic. Notably,
the citric acid cycle, also known as the TCA cycle, plays a pivotal role in
cellular energy production through the generation of Adenosine Triphosphate
(ATP). Maleic acid is naturally present in various fruits, including cherries,
blueberries, blackberries, apricots, peaches, pears, plums, and grapes. It is
one of the predominant acids found in these fruits. Beyond its presence in
nature, maleic acid has versatile applications. It is utilized in
pharmaceutical manufacturing, where it is administered orally to address
conditions like fatigue and fibromyalgia. Moreover, maleic acid serves as a
flavoring additive in the culinary industry, imparting a tart taste to various
dishes.
Furthermore, malonic
acid has found a place in the cosmetics industry, where it is employed to
adjust the pH of skincare products. It is believed to have potential benefits
such as minimizing signs of aging, promoting the removal of dead skin cells,
assisting in acne treatment, and enhancing skin hydration when applied
topically.
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"Global Malonic Acid Market”
Furthermore, malonic
acid, an organic compound characterized by decarboxylation, boasts extensive
utility within the agricultural sector. Its significance lies in serving as a
fundamental building block for the synthesis of various herbicides,
insecticides, and fungicides. Furthermore, its effectiveness as a pH modifier
and buffer in agricultural formulations renders it a valuable ingredient in
crop protection products. Consequently, these attributes are poised to exert a
favorable influence on the overall growth trajectory of the industry in the
foreseeable future.
The Global Malonic
Acid Market is segmented into type, material, end user industry, regional
distribution, and company.
Based on its application,
the flavor enhancer segment has emerged as the predominant market leader. The dominant position of malonic acid in the market
can be attributed to its extensive utilization as both a flavor enhancer and an
acidifier in the food and beverage sector. This usage pattern has triggered a
significant surge in demand, a trend expected to persist throughout the
forecasted period. The increasing adoption of malonic acid as a flavor enhancer
and acidifier in the food and beverage industry has unlocked substantial growth
opportunities for manufacturers. Additionally, it is employed as an acidity
regulator, food preservative, and pharmaceutical excipient. It also serves as a
precursor to polyester and plays an active role in the composition of alkyd
resins.
Based on end use
industry, the food &
beverage segment commands the highest share of revenue. The heightened demand for malonic acid finds its roots
in the expanding production of food additives and flavoring agents,
particularly malonates. These substances play a pivotal role in the food and
beverage sector, where their primary function is to enhance flavors and
preserve the freshness of various products. Malonic acid assumes a prestigious
position as both an acidulant and a flavoring agent within the food processing
industry. Its appeal is underpinned by its remarkable blending capabilities and
its innate capacity to elevate and enrich an array of flavors.
In the realm of
the food and beverage industry, there has been a remarkable upsurge in the
demand for products, with a special focus on the burgeoning markets of Asia and
the Middle East. The increased domestic consumption of food and beverage items
can be attributed to a multitude of factors. These include population growth,
the introduction of novel products to diversify offerings, and the
establishment of an extensive network of retail outlets that facilitates
product accessibility and efficient distribution.
Furthermore, the
escalating utilization of malonic acid derivatives within the pharmaceutical
sector is poised to make a substantial contribution to the demand for this
compound. In the pharmaceutical domain, malonic acid serves as a pivotal
precursor for the synthesis of various essential drugs. These encompass a
spectrum of medications, including barbiturates, vitamin B1, and non-steroidal
anti-inflammatory drugs (NSAIDs).
The significance
of malonic acid extends further to its role in the production of plant growth
regulators, which possess the unique ability to either inhibit or stimulate
plant growth. These regulators assume a critical role in enhancing crop yield,
augmenting overall crop quality, and fortifying resilience against
environmental stressors. The formulation of malonic acid further optimizes the
delivery of essential micronutrients such as zinc, manganese, and iron to
crops. This, in turn, results in comprehensive improvements in plant growth and
augments overall yield. These advancements hold profound implications for the
cultivation of food crops within the market, ultimately contributing to
increased food production.
Based on region,
Europe took center stage as the leading contender in the Global Malonic Acid Market.
The presence of numerous industries serving various sectors, including food and
beverage, pharmaceuticals, agriculture, plastics, paints and coatings, as well
as various other applications, is poised to be a potent driver behind the
growing demand for this particular product. In developed nations, this product
enjoys widespread utilization across multiple sectors, including food and
beverages, pharmaceuticals, personal care, and cosmetics. This prevalence is
expected to fuel the growth of the North American market in the coming years.
North America is particularly noteworthy for its robust food and beverage and
pharmaceutical industries, featuring key players such as Abbott, Pfizer Inc.,
Merck Sharp & Dohme Corp., and Bristol-Myers Squibb Company operating
within the region. Moreover, the thriving pharmaceutical sector in countries
like Mexico and the United States is set to further amplify the demand for these
products.
Additionally,
China, India, and Japan serve as the primary manufacturing hubs within the
region. The escalating population figures in countries like China and India,
coupled with rising income levels and increased purchasing power, have resulted
in a significant surge in product demand, particularly within the food and
beverage industry. The proliferation of food and beverage startups, especially
in India, is expected to further bolster this trend, contributing to increased
demand across multiple sectors in the foreseeable future.
Major companies
operating in Global Malonic Acid Market are:
- Lonza Group
- Thirumalai
Chemicals Ltd.
- Central Drug House
(P) Ltd.
- Columbus Chemical
Industries, Inc.
- Tokyo Chemical
Industry Co., Ltd.
- Trace Zero LLC
- Merck KGaA
- J&K Scientific
Ltd.
- Lygos Inc.
- Hefei TNJ Chemical
Industry Co., Ltd.
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“Malonic acid
and its derivatives are rapidly emerging as significant players in the polymer
and resin industry. These compounds fulfill crucial roles as cross-linking
agents and modifiers in the manufacturing of diverse polymers and resins. Their
incorporation elevates the mechanical and thermal properties of these polymers,
rendering them well-suited for an expanded spectrum of applications. This trend
is anticipated to persist as industries increasingly gravitate towards advanced
materials endowed with enhanced performance attributes. Moreover, green
chemistry approaches, including bio-based production methods and catalytic
processes, are gaining traction which not only reduce the environmental impact
but also enhance the marketability of bio-malonic acid in eco-conscious
industries creates a lucrative opportunity in the market growth,” said Mr.
Karan Chechi, Research Director with TechSci Research, a research-based
management consulting firm.
“Malonic
Acid Market By Application (Flavor Enhancer, Additive, pH Controller,
Precurser, Others), By End Use Industry (Food & Beverage, Pharmaceutical,
Agriculture, Plastics, Paints & Coatings, Others), By Region, By Competition
Forecast & Opportunities, 2018-2028F”, has
evaluated the future growth potential of Global Malonic Acid Market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Malonic Acid Market.
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