Malic Acid Industry Leading Players, History Industry Estimated to Rise Profitably by Forecast 2030
Malic acid, a white crystalline powder, is used as a food additive to enhance flavor and sourness in many food and beverage products. Due to its solubility in water and alcohol, malic acid is used in the preparation of various luxurious drinks, including wine and other cocktails & mocktails. The malic acid market is growing steadily over the past few years, mainly due to its massive consumption in the food & beverages industry. According to Market Research Future (MRFR), the global malic acid market is poised to touch a valuation of USD 217.8 MN by 2030. In its recently published analysis, MRFR also asserts that the market would grow at a CAGR of over 4.70% throughout the forecast period (2021-2030). The market is largely driven by the demand in a range of application areas, which would continue in the coming years as well. Feedstock flexibility of malic acid allows high conversion yields, productivity, and concentrated process streams resulting in cost-competitive economics