Industry Outlook and Trend Analysis
The global Gluconic Acid Market was worth USD 47.15 billion in 2014 and is expected to reach approximately USD 72.08 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 4.83% during the forecast period. The key driver for the market is its wide application in the food and pharmaceutical market, advancement in technology, environmental concerns, and expanded interest for biodegradable acid and economic biotechnological production process. Gluconic acid is an easily biodegradable, nontoxic, non-corrosive and non-volatile acid and because of these properties, its demand in the market is expanding. Notwithstanding other creation procedures of gluconic acid, biotech fermentation procedure has turned out to be a help for makers which has expanded its market development. However, there are some inhibiting components for the market, for example, high capital necessity and generation costs.
Type Outlook and Trend Analysis
The market by type is fragmented into glucono delta lactone, sodium salt of gluconic acid, gluconic acid, calcium salt of gluconic acid and others which incorporate zinc, iron, and copper and potassium salts of gluconic acid. Sodium gluconate and glucono delta lactone have the significant market because of its expanded demand in chemical, food and pharmaceutical ventures.
Application Outlook and Trend Analysis
On the basis of application the market is segmented into chemicals, food, agriculture, pharmaceuticals and others. Food comprises of the biggest share of the market because of its high use as an acidulant in the meat preparing industry. Additionally, its medicinal application in pharmaceuticals, for example, in calcium treatment and treatment of anemia has driven pharmaceuticals to end up noticeably the quickest developing section in the application.
Regional Outlook and Trend Analysis
Geographically, the market is segmented into Europe, North America, Asia Pacific, South America and Africa. Europe and Asia pacific are the leading market of gluconic acid. China rules the worldwide gluconic acid market by biggest share while Japan and the Netherlands are the quickest developing nations.
Developing interest for natural acids has prompted growth opportunities for gluconic acid in the market. The real contenders favour interest in innovative work to enhance the item quality and effective market methodologies to keep up their position. The leading players in the market are Sigma-Aldrich, Novozymes, Roquette Frères, Kerry Group and BASF.
The Gluconic Acid Market is segmented as follows-
Calcium Salt of Gluconic Acid
Glucono Delta Lactone
Sodium Salt of Gluconic Acid
Others (Iron, Copper, Zinc, Potassium)
Rest of Europe
Rest of Asia Pacific
Rest of the World
United Arab Emirates
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?