(MENAFN- IMARC Group)
IMARC Group has recently released a new research study titled“ Glucaric Acid Market: Global industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028 ”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.
How big is the glucaric acid market?
The global glucaric acid market size reached US$ 957.3 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,469.2 Million by 2028, exhibiting a growth rate (CAGR) of 7.2% during 2023-2028.
Global Glucaric Acid Market Trends:
The market growth of Glucaric Acid is primarily driven by its increasing application across various industries, including detergents, food ingredients, and healthcare. In the detergent sector, glucaric acid is valued for its biodegradable properties and effectiveness as a water softener, which reduces environmental impact compared to phosphorus-based alternatives. The food industry utilizes glucaric acid for its potential health benefits, including cholesterol reduction and detoxification properties, aligning with the rising consumer demand for natural and health-promoting ingredients. Additionally, ongoing research into its therapeutic applications, particularly in cancer prevention and treatment, promises to open new avenues for glucaric acid, further propelling market growth.
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Factors Affecting the Growth of the Glucaric Acid Industry:
Increasing Demand in Detergent Industry:
The growth of the glucaric acid market is significantly influenced by its rising demand in the detergent industry. Glucaric acid, recognized for its properties as a biodegradable chelating agent, is increasingly preferred over traditional phosphates due to environmental concerns. Its ability to bind calcium and other ions makes it highly effective in preventing soap scum and improving the efficiency of detergents. This shift towards eco-friendly cleaning products is driving the demand for glucaric acid, as consumers and regulatory bodies push for safer, more sustainable alternatives. The trend towards green chemistry and the development of bio-based detergents are further amplifying this demand, positioning glucaric acid as a key component in the future of the detergent industry.
Expansion in the Healthcare Sector:
The expansion of the healthcare sector presents another critical driver for the glucaric acid market. Glucaric acid's potential in medical applications, particularly in cancer prevention and treatment, has garnered significant interest. Its properties as an inhibitor of beta-glucuronidase, an enzyme involved in the glucuronidation process, suggest its role in reducing the risk of hormone-dependent cancers. Moreover, its application in dietary supplements for liver health and detoxification processes underscores its growing importance in the healthcare industry. As research continues to unfold the therapeutic benefits of glucaric acid, its adoption in pharmaceutical formulations and health supplements is expected to rise, contributing to the market's growth.
Technological Advancements in Production Processes:
Technological advancements in the production processes of glucaric acid are pivotal in driving its market growth. Innovations in biotechnological methods, such as the use of microbial fermentation, have made the production of glucaric acid more cost-effective and environmentally friendly. These advancements have not only improved the efficiency and scalability of glucaric acid production but also reduced reliance on petrochemical feedstocks, aligning with the global shift towards sustainable manufacturing practices. As these technologies evolve, they are expected to lower production costs further and enhance the purity and quality of glucaric acid, making it more accessible for various applications and thus fueling its market expansion.
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
AK Scientific Inc. Alfa Chemistry Carbosynth Ltd Cayman Chemical Company CHEMOS GmbH & Co. KG Kalion Inc. Merck KGaA The Archer-Daniels-Midland Company
Glucaric Acid Market Report Segmentation:
By Product:
Pure Glucaric Acid Calcium D-glucarate Potassium Sodium D-glucarate D-glucaric Acid-1,4-lactone Others
Pure glucaric acid represented the largest segment due to its extensive application in manufacturing environmentally friendly detergents and cleaners.
By Application:
Food Ingredients Detergents Corrosion Inhibitors De-icing Applications Others
Detergents represented the largest segment as glucaric acid is highly valued for its chelating properties, making it an effective ingredient in removing calcium and magnesium ions that cause water hardness.
Regional Insights:
North America Asia-Pacific Europe Latin America Middle East and Africa
Asia Pacific emerged as the largest market, driven by rapid industrialization, increasing environmental awareness, and the high demand for biodegradable products.
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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