Gluconic Acid and Derivatives Market - Growth, Trends, and Forecast (2018- 2023)
Gluconic Acid and Derivatives Market Insights
The global gluconic acid and derivatives market was valued at USD 642.68 million in 2017, and is expected to register a CAGR of 5.5%, during forecast period.
Gluconic Acid and Derivatives Market Dynamics
The major driver for the market is its wide application in the food and pharmaceutical market, innovation in technology, economic biotechnological production process, the increased demand for biodegradable acid and environmental concerns. In addition to other production processes of gluconic acid, biotech fermentation process has proved to be a boon for manufacturers, which has increased market growth of gluconic acid and its derivatives. However, there are some restraining factors for the market, such as high capital requirement and production costs. The raw material required for production is glucose, which is costly as compared to other carbon source and thus, increases the production cost.
Gluconic Acid and Derivatives Market Segmentation
Global gluconic acid and its derivatives market is segmented by type into gluconic acid, glucono delta lactone, sodium salt of gluconic acid, calcium salt of gluconic acid and others, which include iron, zinc, and copper and potassium salts of gluconic acid. Sodium gluconate and glucono delta lactone have the major market due to its increased demand in food, pharmaceutical and chemical industries. Market segmentation by application type includes food, pharmaceuticals, chemicals, agriculture, and others. Food consists of the largest market share due to its high use as an acidulant in the meat processing industry. In addition, its medicinal application in pharmaceuticals, such as in calcium therapy and treatment of anemia has led pharmaceuticals to become the fastest growing segment in the application type.
Gluconic Acid and Derivatives Market Regional Analysis
The global consumption of gluconic acid and derivatives is increasing driven by its applications demand and technological production. The production of gluconic acid is very high in some regions while some regions depend on import of gluconic acid to meet the domestic demand. The market segmentation by geography includes the regions North America, Europe, Asia Pacific, South America, and Africa. Europe and Asia pacific are the major market of gluconic acid. China dominates the global gluconic acid market by largest share while Japan and the Netherlands are the fastest growing countries.
Gluconic Acid and Derivatives Market Key Developments
February 2017 -Jungbunzlauer in collaboration with Green Biologics Inc. announced to lead the production of bio-based plasticizers. The opportunity for bio-based plasticizers in personal care, healthcare, bio-polymers, and many other industrial applications is immense
Gluconic Acid and Derivatives Market Competitive Landscape
Major Players - AK Scientific Inc., Alfa Chemistry, AN Pharmatech, BASF, Chembo Pharma, Evonik, Jungbunzlauer, Kerry, Merck Millipore, Novozymes, Oxychem Co., PMP Inc., Roquette, R-Biopharm, Sigma Aldrich, TCI Chemicals, among others.
Reasons to Purchase this Gluconic Acid and Derivatives Market Report
Analyzing outlook of the market with the recent trends and Porter’s five forces analysis
Market dynamics, which essentially consider the factors that are impelling the present market scenario, along with growth opportunities of the market in the years to come
Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market
Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet in excel
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