Europe Fumaric Acid Market: Industry Analysis and Forecast (2023-2029), Trends, Statistics, Dynamics, Segmentation
In 2022, the Europe Fumaric Acid Market was valued at USD 144.99 Million and is expected to grow at a CAGR of 4.1% during the forecasting period (2023-2029).
Format : PDF | Report ID : SMR_1320
Europe Fumaric Acid Market Overview
Consumer awareness of sedentary and unhealthy lifestyles is increasing, resulting in a desire for better food alternatives. Consumption of ready-to-eat foods, energy drinks, and healthy foods has increased as disposable income has increased. Furthermore, improvements in numerous industries such as pharmaceuticals, chemicals, and cosmetics are projected to fuel the global fumaric acid market.
Fumaric acid is a significant specialty chemical with numerous industrial applications, notably as a feedstock for polymeric resin production and as an acidulant in foods and pharmaceuticals. Chemical synthesis based on petroleum is the primary method of producing fumaric acid. Fumaric acid is used as a food acidulant in beverages and baking powders. Psoriasis and multiple sclerosis are treated with fumaric acid, a pharmaceutically active component.
Europe Fumaric Acid Market Dynamics
Food Processing Industry in Europe
One of the most important industries within Industrials is food processing and handling, comprising three key subsectors: processing, packaging, and commercial food service equipment. Over the last five years, it has outpaced the broader Industrials industry, representing a $100 billion market. Regarding jobs and value-added, the food and beverage industry is the largest manufacturing sector in the E.U.; trading with non-EU countries is also a plus. The E.U. has a significant trade surplus in food, and E.U. culinary specialties are well-liked worldwide. E.U. food and drink exports have more than doubled in the last decade, reaching over USD 94.53 billion and contributing to an almost USD 31.51 billion positive balance. The E.U.'s food regulation is largely harmonized, and the industry benefits significantly from the E.U. Single Market's potential.
The food processing industry in Europe is well-developed, with 294,000 companies accounting for 15.2% of all European industry and generating €1,109 billion in revenue. France leads the way in this field, with 55,810 food processing industry enterprises, €170 billion in revenue, and 14 percent of the total European food industry. Wholesale (food & drink) is the most common business in the category (44%), followed by farmed raw materials and livestock (12%), drinks (10%), and meat processing (10%). (8 percent ). 'Carbonates,' 'Juices,' and 'Energy drinks' were the top three non-alcoholic beverage product categories sold among ESM member states, accounting for 44, 30, and 11 percent of total non-alcoholic beverage sales, respectively. In 89 percent of ESM member states, 'carbonates' was the most popular product category. Other product categories that made the top three were 'Ready-to-Drink Tea' and 'Concentrates,' which were sold in 19 and 11 percent of ESM member states, respectively, and contributed 6 and 5% to overall non-alcoholic beverage sales in Europe. Thus these potential developments in the food and processing industry in Europe are expected to drive the Fumaric Acid Market.
Stringent Government Regulations and Health Hazards
Food safety is of paramount importance. Consumers must have trust and assurance that the food they purchase will not injure them or cause them harm. Only safe food and feed can be placed on the Union market or fed to food-producing animals, according to the General Food Law Regulation. It also specifies basic standards for determining the safety of food and feed. Additives are ingredients used in the manufacture of food for various purposes, such as preservation, colouring, sweetening, and so on. Any material not generally consumed as a food in itself and not usually employed as a characteristic constituent of food, whether or not it has nutritive value," according to European Union legislation, is a food additive. They are substances added to food for technological purposes during its manufacture, processing, preparation, treatment, packaging, transportation, or storage. 26 "technological purposes" are defined in E.U. regulation; the Scientific Committee on Food (SCF) and the European Food Safety Authority have evaluated the safety of all currently approved food additives (EFSA). The additives are on the E.U. list whose proposed usage was considered safe.
The E.U. Rules on Flavorings and Certain Food Ingredients with Flavoring Properties promote the smooth operation of the internal market while also providing high levels of human health and consumer safety. Regulation (E.C.) No 2065/2003 defines a framework for the safety assessment and authorization of smoke flavouring primary products in order to ensure a high degree of human health protection, consumer interests, and the efficient operation of the internal market.
Europe Fumaric Acid Market Segment Analysis:
The Fumaric Acid market is segmented by product type, application, by End Use Industries,by End-User Industry, and geographical region in this report. The Fumaric Acid market by Product type is segmented into food and technical grades. The Fumaric Acid Market by application is divided into Food & Beverage Processing, Rosin Paper Sizing, Unsaturated Polyester Resin, Alkyd Resin, Personal Care & Cosmetics, and Other Applications.
The food and beverage industry is expected to dominate the application segment holding 24 percent market share during the forecast period. Lead, cadmium, and chromium-based pigments are hazardous to spray painters. Spray painters who work with isocyanates in polyurethane coatings or aliphatic amines in epoxy paint systems are at a higher risk of developing occupational asthma. Biocides are routinely used in the manufacture of paints. Pigments, solvents, and vehicles are the three types of chemicals used in paints. The bleaching of the pulp is the first step in the papermaking process. Depending on the type of paper, different additives are used, and the cooking process is contained using a negative-pressure furnace prevents gas from escaping. The sulfate process, also known as the Kraft process, is the alkaline digestion of lignin that produces hydrogen sulfide and mercaptans. The sulfite process is acid digestion that creates sulfuric acid and SO2. Aspergillus fumigatus-induced hypersensitivity pneumonitis (H.P.) has been observed in chip unloaders.
Lard, butter, cheese, powdered milk, sausage, bacon, frankfurters, almonds, and potato chips all contain fumaric acid as an antioxidant to prevent rancidity. It can be used to provide the acidity needed when sodium benzoate is employed as a preservative in the preservation of green foods and fish. In beverages, and baking powders, it can be used as a substitute for tartaric acid; in fruit drinks, replace or partially replace citric acid.
Europe Fumaric Acid Market Regional Analysis
The report contains an in-depth analysis of the Europe Fumaric Acid market by geographical region. The presence of developed countries like Germany and France is expected to drive the Europe Fumaric Acid market growth in this region. In 2020, the European cosmetics and personal care business will be worth €76.7 billion at retail sales prices, making it the world's largest cosmetics market. Germany (€14 billion), France (€11.5 billion), the United Kingdom (€9.8 billion), Italy (€9.7 billion), Spain (€6.4 billion), and Poland (€3.8 billion) are the top national markets for cosmetics and personal care goods in Europe. The cosmetics and personal care business is predicted to contribute at least €29 billion in added value to the European economy each year. Cosmetics manufacturing contributes €11 billion directly and €18 billion indirectly through the supply chain. The industry supports over 2 million employees, including direct, indirect, and induced economic activity. In 2020, the cosmetics value chain employed around 229,400 people directly and another 1.69 million indirectly. Employees spending their income on goods and services generate at least two more jobs in the broader economy for every ten workers engaged in the European cosmetics and personal care business. Furthermore, the cosmetics and personal care business help to improve the competitiveness of the European economy and contributes to future prosperity by attracting investment from outside the E.U., generating intangible assets such as brands, and investing in R&D.
This report aims to analyze current market trends and potential opportunities to enhance growth to succeed in the industry. The report identifies factors influencing market dynamics and development of the Europe Fumaric Acid market and how this will control investment during the forecasting period. The report studies regional markets to provide valuable insights into revenue and predicted value; information also includes the competitive landscape of key industry players and their recent developments.
Through comprehensive research supported by qualitative and quantitative data, this report provides essential information on the market behavior during the projection period (2022-2027). It also recognizes dominant segments in the market, projects their development, and identifies new elements that will dominate with technological advancements.
The report contains detailed analyses through Porter's five forces model to determine the industry's structure and help devise a corporate strategy for the market. The model reports provide essential information about stakeholders' influence, product quality, substitute products, etc. The report also analyses whether the Europe Fumaric Acid market is accessible for new competitors to gain a foothold, whether they enter or exit the market regularly, and if a few players dominate it.
A measured approach is adopted through Pestel analysis to quantify factors including government policies, economic structure, and political situations that will affect the development of this sector. Economic variables aid in studying financial performance drivers that impact the Europe Fumaric Acid Market. The report also considers environmental and legal factors that may affect the progress in this industry.
Europe Fumaric Acid Market Scope
Market Size in 2022
USD 144.99 Mn.
Market Size in 2029
USD 192.08 Mn.
By Product type
By End-Use Industries
North America- United States, Canada, and Mexico
Europe – UK, France, Germany, Italy, Spain, Sweden, Austria, and Rest of Europe
Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC
Middle East and Africa - South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa
South America – Brazil, Argentina, Rest of South America
Europe Fumaric Acid Major Competitors
The Europe Fumaric Acid demands innovation and progress in a continuously changing landscape with new government policies and development. Thus, significant players often opt for strategies to invest in research and more recent technologies to be market-ready. Details profiles about the competitors, including revenue, market size, analysis, and technological advancements, are covered in this report.
- Akzo Nobel N.V. (Netherlands)
- Arkema (France)
- Bartek Ingredients Inc.(Canada)
- BASF SE (Germany)
- Merck KGaA (Germany)
- Polynt (Italy)
Frequently Asked Questions
Increasing awareness among consumers of sedentary and unhealthy lifestyles is the primary drivers of the Fumaric Acid market.
Germany is projected to multiply and acquire a major share in the forecasting period.
Europe Fumaric Acid market is expected to grow at a CAGR of 4.1 percent during the forecasting period.
BASF SE (Germany), Merck KGaA (Germany), Polynt (Italy) are the major players involved in European Fumaric Acid Market.
- Scope of the Report
- Research Methodology
- Research Process
- Europe Digital Power Utility Market: Target Audience
- Europe Digital Power Utility Market: Primary Research (As per Client Requirement)
- Europe Digital Power Utility Market: Secondary Research
- Executive Summary
- Competitive Landscape
- Stellar Competition matrix
- Europe Stellar Competition Matrix
- Key Players Benchmarking: - by Product, Pricing, Investments, Expansion Plans, Physical Presence, and Presence in the Market.
- Mergers and Acquisitions in Industry: - M&A by Region, Value, and Strategic Intent
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Challenges
- PESTLE Analysis
- PORTERS Five Force Analysis
- Value Chain Analysis
- Stellar Competition matrix
- Europe Digital Power Utility Market Segmentation
- Europe Digital Power Utility Market, by Product (2022-2029)
- Software & Service
- Europe Digital Power Utility Market, by Raw Material (2022-2029)
- Power Generation
- Transmission & Distribution
- Power Consumption
- Europe Digital Power Utility Market, by Country (2022-2029)
- United kingdom
- Rest of Europe
- Europe Digital Power Utility Market, by Product (2022-2029)
- Company Profiles
- Key Players
- ABB (Switzerland)
- Company Overview
- Product Portfolio
- Financial Overview
- Business Strategy
- Key Developments
- Siemens (Germany)
- Accenture Plc (Ireland)
- Capgemini Ltd (France)
- SAP SE (Germany)
- ABB (Switzerland)
- Key Players
- Key Findings