Pune, India -- (SBWIRE) -- 03/23/2018 -- Based on Geography, the Malic Acid Market is divided into five key regions: Asia Pacific, North America, Europe, the Middle East & Africa, and Latin America, and. Among the mentioned regions, Asia pacific market has acquired more than one-third of the market share in terms of value and volume, and expected to grow at a CAGR of 5.82% to reach USD 89.00 million by 2023.

Asia Pacific Malic Acid Market consists of China, Japan, India, and other Asia Pacific countries. Comparatively, China dominates the market over other countries in the region. China' is the largest market in this region, both in terms of value and volume, which is projected to grow at considerable CAGR, during the forecast period. Some of the substantial factors attributed to the market growth in China are huge end-use industry penetration in the region along with the presence of considerable number of producers coupled with a reasonable production cost. India and Japan relatively trail behind the Chinese market in terms of consumption demand for malic acids. Japan accounted for the second largest market in terms of value in Asia Pacific region. Yet, India is projected to be the fastest-growing market for malic acid at a CAGR of 6.68%, during the forecast period. The demand for malic acids in India is predominantly based on increasing demand from food, and pharmaceutical industry. In terms of production, India is expected to lead the market by surpassing China during forecast period due to the growing population and industrialization in coming years.

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Asia Pacific market is followed by North America and Europe. North America accounted for the second largest share in the Global Malic Acid Market. In terms of value, the regional market is estimated to reach USD 53.7 million by 2023 growing at a considerable CAGR. The U.S accounted for the largest market share in North America and is expected to grow at the highest CAGR of among the other countries in this region, during the forecast period.

Europe is also an important region in the Global Malic Acid Market, holding 20% share of the market. Germany is the largest market in Europe and expected to retain the dominance in the regional malic acid market, growing at a considerable CAGR throughout the forecast period. Moreover, Asia Pacific market will witness growth above average throughout the forecast period owing to strong growth in food and pharmaceuticals industry in this region.

Key Players

The prominent players in the Global Malic Acid Market includes Tate & Lyle, Corbion NV, Polynt S.p.A, Fuso Chemical Co., Ltd. ("Fuso"), Thirumalai Chemicals Ltd. (TCL), Changmao Biochemical Engineering Company Limited, Bartek Ingredients Inc., Isegen South Africa (Pty) Ltd, Anhui Sealong Biotechnology Co. Ltd., and Yongsan Chemicals, Inc.

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