Increasing demand for gluconic acid in various end-use industries including food & beverage, personal care, and agriculture industries is expected to drive market growth
Increasing demand for gluconic acid in various end-use industries including food & beverage, personal care, and agriculture industries is expected to drive market growth
The global gluconic acid market size is expected to reach USD 1.8 billion in 2028 and register a revenue CAGR of 5.2% over the forecast period, according to the latest report by Reports and Data. Among the key factors driving market revenue growth are increasing applications of gluconic acid in the food & beverage, personal care, pharmaceutical, and agriculture industries. Gluconic acid is a non-toxic, non-corrosive organic acid with high solubility in water and a mild and refreshing taste. It has higher pH levels compared to other commonly used chelators. Gluconic acid is chemically produced through the oxidization of glucose, however, the substance is also naturally present in honey, wine, and various fruits. In the food & beverage industry, gluconic acid is used in a wide range of meat and dairy products as a food additive and flavoring agent. It is widely used in bakery products such as cakes and doughnuts as a leavening agent. Increasing use of the acid in personal care products including skin cleansers, mouthwashes, and shampoos is another key factor driving the global market growth. Gluconic acid promotes exfoliation of dead cells and aids in cell renewal, and it offers antioxidant and restorative capabilities. Other important applications of gluconic acid include printing, textile dyeing, metal surface water treatment, house cleaning products, and numerous others.
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Some Key Highlights from the Report:
- Based on type, the calcium salt of gluconic acid segment is expected to dominate other segments over the forecast period in terms of revenue growth rate. Key factors driving the growth of this segment include increasing usage of calcium salts of gluconic acid in intravenous medications for treatment of calcium deficiency conditions including hypocalcaemia and hypocalcemic tetany.
- Among the application segments, the food & beverage segment accounted for the highest revenue share in the global gluconic acid market in 2020. The segment is projected to register a steady revenue growth rate during the forecast period, owing to factors such as increasing use of gluconic acid derivatives such as sodium gluconate in a variety of food and beverage products. Gluconic acid is widely used in food items as a pickling, curing, leavening, flavoring, and pH control agent.
- Among the regional markets, the Asia Pacific gluconic acid market is expected to display the highest revenue growth rate over the forecast period due to several favorable factors. Increasing number of gluconic acid manufacturing facilities in the region, escalating demand for gluconic acid and its derivatives in the food & beverage, personal care & cosmetics, and pharmaceutical industries, and stringent government regulations regarding product safety norms, particularly in countries including India, Japan, and China, are the major factors driving the Asia Pacific market growth.
- The gluconic acid market in Europe is expected to register a significantly robust CAGR during the forecast period. Stringent regulations regarding use of chemicals in food & beverage and personal care products and rising demand for bio-based acids in personal care products for reduced environmental impact and enhanced product quality are the major factors boosting market growth in the region.
- Key players in the global gluconic acid 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, and Gress Chemicals.
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For the purpose of this report, the 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
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Region Outlook (Revenue, USD Billion; 2018-2028)
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Rest of Middle East & Africa
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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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