Growing adoption of calcium gluconate in pharmaceutical industry, rising demand of personal care products, and rising R&D activities are some key factors expected to drive market growth.
Growing adoption of calcium gluconate in pharmaceutical industry, rising demand of personal care products, and rising R&D activities are some key factors expected to drive market growth
Reports and Data has published its latest report titled “Gluconic Acid Market By Type (Gluconic Acid, Glucono Delta Lactone, Sodium Salt of Gluconic Acid, Calcium Salt of Gluconic Acid and Other Types), Gluconic Acid (Solid), Other), By Application (Food & Beverage, Pharmaceutical, Chemicals, Agriculture, Others), And By Region Forecast To 2028”
According to the latest report by Reports and Data, the global gluconic acid market size was USD 1.2 Billion in 2020 and is expected to reach USD 1.8 Billion in 2028 and register a revenue CAGR of 5.2% during the forecast period, 2021-2028.
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Drivers, Restraints, and Opportunities
Gluconic acid, C6H12O7, is a mild organic acid produced from sugar. The molecular mass of gluconic acid is 196.155 g·mol−1 and is also refer to as D-gluconic acid, dextronic acid and pentahydroxycaproic acid. Gluconic acid is naturally present in wine, fruit, rice, meat, honey, and in kombucha fermentation and is also produced by oxidation of D-glucose. It is used in dairy products to prevent milkstone and act as a chelating agent. It is popularly used in bakery products to increase dough volume. Also, the acid is widely used in food products as a food additive and flavoring agent. Therefore increasing application areas of gluconic acid in food and beverage industry is a major key factor expected to boost revenue growth over the forecast period.
In addition, increasing use of personal care products (such as shampoos and skin cleansers) due to rising social interaction, and growing awareness regarding skin care and hygiene is another factor drive revenue growth of the market going ahead. Gluconic acid promotes cell renewal and stimulates exfoliation of dead cells, as well as offer antioxidant and healing properties. However, high processing cost and stringent government regulations on use of chemicals on food and personal care products are factors expected to restrain market revenue growth over the forecast period.
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COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Calcium Salt of Gluconic Acid Segment to Lead in Terms of Revenue Share:
Calcium salt of gluconic acid segment is expected to account for largest revenue share in the global market over the forecast period owing to increasing awareness regarding health and wellness among individuals and is used in the treatment of certain medical conditions such as hypocalcemic tetany caused by calcium deficiency. When there is not enough calcium in the diet, calcium gluconate is taken as a mineral supplement and contains a D-gluconate.
Food And Beverage Segment to Register Significant Revenue Growth:
Food and beverage segment is expected to register significant revenue growth over the forecast period attributable to increasing production of dairy products, rising demand of packaged and baked foods, rapid urbanization and growing popularity of nutritional and energy drinks due to healthy lifestyle trends. Gluconic acid is used in numerous food and beverage items as a curing, leavening, pickling, flavoring, and pH control agent.
Europe to Register Robust Revenue Growth:
Europe is expected to register robust revenue growth over the forecast period attributable to development of food and beverages industry, rising inclusion of bio-based acids in personal care products, strict government regulations regarding chemical usage in food & beverage sector, and presence of key players in the region.
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Asia Pacific Accounted for Largest Revenue Share in 2020:
Asia Pacific is expected to account for largest revenue share in the global market in 2020 over the forecast period attributable to rising number of gluconic acid manufacturing facilities, growing demand of personal care and cosmetics products due to social media popularity and growth of pharmaceutical industries due to e-commerce trends. In addition, increasing usage of gluconic acid in food and beverage products drive revenue growth of the APAC market.
Major Companies in the Market Include:
- PMP Fermentation Products
- Shandong Xinhong Pharmaceutical Industry Limited Company
- Xingzhou Medicine Food
- Kaison Biochemical
- Roquette
- Shandong Fuyang Biotechnology
- Ferro Chem Industries
- Tianyi Food Additives
- Shandong Xiwang Sugar Industry Co.
- Jungbunzlauer, Ruibang Laboratories
- Gress Chemicals
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Market Segmentation:
For the purpose of this report, Reports and Data has segmented global gluconic acid market is segmented on the basis of type, application, and region:
Type Outlook (Revenue, USD Billion; 2018-2028)
- Glu Gluconic Acid
- Glucono Delta Lactone
- Sodium Salt of Gluconic Acid
- Calcium Salt of Gluconic Acid
- Others
Application Outlook (Revenue, USD Billion; 2018-2028)
- Food & Beverage
- Pharmaceuticals
- Chemicals
- Agriculture
- Others
Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Israel
- Rest of MEA
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Some points on how the report benefits stakeholders:
- The reports include historical (2018–2020) and forecast (2021–2028) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
- Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2028.
- The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
- The report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace.
- Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.
- The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.
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