- The worldwide fumaric acid market was anticipated to have collected around USD 491 million in 2013. It is projected to expand to about USD 765 million by the end of the forecast phase. The market is estimated to rise at around 7 percent through the same phase. This phase spans across the period of 2014 to 2020. Fumaric acid is utilized in soft drinks and food items as an acidulant.
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This is due to the favorable characteristics of the acid which work in support of the fumaric acid market. These include checking the growth of micro organisms, improving the aroma and modifying Ph levels. Growing demand for convenience food, together with rising disposable earnings of middle class people in Latin America and Asia Pacific regions is predicted to augment the fumaric acid market.
The bringing forth of various cultural aromas by makers of soft drinks and food items is also projected to stimulate the fumaric acid market further. Strong ecological policies with regard to decreasing ejection of green house gases serve as a hindrance for the fumaric acid market. Soft drinks and food items accounted for the biggest application of this market in 2013. They occupied nearly USD 34 percent of the total income of the fumaric acid market that year.
Soft drinks and food items are also reported to observe highest expansion in the future with about 7 percent CAGR from 2014 to 2020. Unsaturated polyester resins are estimated to observe moderate expansion in the years to come. Growing investments in construction projects and expansion in the manufacture of vehicles in Thailand, India and China are projected to raise demand for the fumaric acid market.
Information Source: Grand View Research
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