Sodium Malate Market Segment Analysis By End User
The Personal Care and Cosmetics segment held the largest share in the Sodium Malate Market in 2020 and is estimated to grow at a CAGR 3.4% during the forecast period 2021-2026. This is owing to its exhaustive usage as a skin conditioning agent that is a humectant that keeps the water content of a cosmetic at bay, which helps to keep the skin condition better. Sodium Malate can be found in a wide range of cosmetics and personal care products. It is also used to control the pH of cosmetic products. Moreover, sodium malate is widely used across Food and Beverage industry which can be attributed to its wide range of applications in the bakery division like pizza, bread, cakes, pastries, and soft drinks. They are extensively used as a flavor additive in juices, soft drinks, and other beverages. Moreover, the concern regarding the environment which is leading to innovations such as feedstock using biodegradable sources is a key raw material trend that is estimated to bolster the industrial growth over the projected period. Additionally, FDA approval of malic acid for commercialization in food-grade usage of the product. The food and beverage segment is estimated to register the higher CAGR over the period 2021-2026.
Sodium Malate Market Segment Analysis By Application
The Flavoring Agent segment held the largest share in the Sodium Malate Market in 2020 and is estimated to grow at a CAGR of 3.6% during the forecast period 2021-2026. This is owing to the wide arena of application in various segments of the foodservice industry. Moreover, the utilization of sodium malate in carbonated beverages has increased manifold, for enhancing flavors and improving pH stability, thereby driving the market growth. Sodium Malate functions as a skin conditioning agent-humectant, which has been gaining traction over the recent past. This is because it is a common moisturizing agent used in lotions, shampoos, and other beauty products usually applied on hair and skin. The humectant segment is estimated to register the higher CAGR over the period 2021-2026.
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Sodium Malate Market Segment Analysis By Geography
The Asia Pacific dominated the Sodium Malate Market with a major share of 38.9% in 2020. This is attributed to the factors like the progressively growing population, growing inclination of consumers, and foodservice industry towards usage of food acidifiers in order to extend the shelf life of end uses. The concentration of key international chemical cluster industries for the supply of raw materials. Developing countries like India and China are major consumers of sodium malate in this region primarily because of the developing ready-to-drink and processed food sectors.
However, North America is estimated to grow at a higher CAGR during the forecast period 2021-2026 owing to the rising demand for bakery and confectionery-related uses at a residential as well as commercial scale. Moreover, the growing demand for energy drinks as well as performance drinks with low calories in the market is estimated to boost overall growth in North America.
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Sodium Malate Market Drivers
Increasing consumption of beverages worldwide is driving the market growth
Over the recent past, the consumption of beverages has increased manifold especially among millennials and Gen Z people. The rising demand for fruit juices, distilled spirits, smoothies among the younger generation is fueling its market growth. According to the Centers for Disease Control and Prevention, the U.S. witnessed a consumption of coffee (14.9%), sweetened beverages (10.2%), tea (8.7%), fruit beverages (5.6%), milk (5.5%), and diet beverages (3.8%), in 2020. Furthermore, the rising health-conscious population and the demand for low-calorie in beverages is compelling most companies to develop new products. This has further led to the adoption of sodium malate in beverages for the production and preservation of beverages which in turn is boosting its market growth.
Growing demand for sodium malate in the cosmetic industry is poised to increase the growth of the market
Over the recent past, changing lifestyles and the rising demand for cosmetic products across the globe is contributing significantly to its market growth. As of 2019, Huda Beauty had the highest user engagement with 246.37 million actions in an online survey conducted by the U.S. Facial cosmetics. In that same survey, ranked second was Kylie Cosmetics which accounted for 215.24 million cross-platform actions. Based on retail sales, chain beauty store Ulta Salon, Cosmetics & Fragrance was one of the leading health and beauty retailers in the U.S. In 2019, Ulta generated approximately USD 7.4 billion in retail sales. The presence of Alpha-Hydroxy Acids (AHAs) in sodium malate, a naturally occurring acid whose range of application extends from skin moisturizing, wrinkle reduction to deep chemical peeling of the skin. They act by inducing exfoliation in the skin and accelerating the natural skin cell rejuvenation cycle. Thus, increasing the growth of the Sodium Malate Market during the forecast period 2021-2026.
Sodium Malate Market Challenges
Growing awareness concerning negative effects of sodium malate is likely to challenge the market growth
Some of the factors that are set to impede the growth of the Sodium Malate Market are side-effects associated with consumption of sodium malate leading to lowering blood pressure. In addition, AHAs present in sodium malate is known to increase the skin’s sensitivity to sunlight. Therefore, excess consumption of sodium malate in food is a major factor restraining its market growth in the upcoming years.
Sodium Malate Market Landscape
Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Sodium Malate Market. In 2020, the Sodium Malate Market share is fragmented by the top ten players present in the market. The Sodium Malate Market, top 10 companies are:
Dr.Paul Lohmann Gmbh KG
Tokyo Chemical Industry Co Ltd
MP Biomedicals LLC
Penta Manufacturing Company
In January 2021, Fabreze, an American brand of household odor eliminators manufactured by Procter & Gamble, launched air-care products in order to keep the air at home fresh, in the wake of covid-19 and lockdown situation. The products contain sodium citrate and sodium malate as active ingredients.
In May 2021, Armani Beauty launched a range of lipsticks called Beauty’s Lip Maestro, where it used Diisostearyl Malate as a constituent, a more safer version of sodium malate.
Asia Pacific dominated the Sodium Malate Market in 2020 owing to the increasing population coupled with the rising preference for food acidifiers to maximize the shelf life of resultant products. The Sodium Malate Market scope for different regions will be provided in the final report.
Growing consumption of beverages worldwide coupled with increasing demand for sodium malate in the cosmetic industry is likely to aid the market growth of the Sodium Malate Market report.
Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be Sodium Malate Market report.
Growing awareness concerning the negative effects of sodium malate is poised to create hurdles for the Sodium Malate Market.
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