Food & Beverage Industry to drive the Fumaric Acid Market Across the Globe
- 25-Apr-2022 6:56 PM
- Journalist: Patricia Jose Perez
Fumaric Acid finds its usage mainly in the Food and beverage industry as it acts as a buffer and is an excellent choice for baked goods and processed food products. Besides that, paint and pharma are the other two industries that widely use Fumaric Acid as a binder and acidulant, respectively. Over the past few months, the price value of Fumaric Acid has been consistently rising owing to its increased consumption in several industries, but especially in F&B sectors. Fumaric Acid is commonly used to process various food products to stabilize the food, enhance its flavour, and add tartness. The escalated demand for canned meat and processed meat has severely enhanced the offtake of Fumaric Acid in the market.
Furthermore, the increased inquiry about frozen food products owing to the fast-moving lifestyle and changing food preferences propelled the need for Fumaric Acid in the food processing industry. In addition, increased awareness about the nutritional benefits of seafood has raised the consumption of the same, which surged the demand for Fumaric Acid. Furthermore, soared crude oil prices, augmented freight charges, congested ports, and cargoes shortage amid continued war tensions between Russia and Ukraine exacerbated the Fumaric Acid Prices.
The Asia-Pacific region is leading the market for Fumaric Acid, especially the countries like India and China, which have been showcasing a great potential for the Fumaric Acid market. Growing urbanization and changing consumer preferences have been influencing the Fumaric Acid market in developing nations. In India, the prices of Fumaric Acid Ex-Mumbai settled at USD 2266.67/MT during March. The Prices of Fumaric Acid continued the previous trend and remained volatile in the ongoing weeks of April as well.
According to ChemAnalyst, “The Food and Beverage Industry is likely to augment the price value of Fumaric Acid in the future as well. The continued rise in crude oil and freight charges would support this price hike of Fumaric Acid in several nations.”