Global Gluconic Acid Market - Growth, Trends and Forecasts (2017 - 2022)

Published - Jan 2017 | Category - Food & Beverages | No. of Pages - 159 | Published By - Mordor Intelligence

Report Highlights

Standing at USD XX million in 2016, the global gluconic acid market is expected to reach USD XX million by 2021 growing at a CAGR of 9.1% during the forecasted period 2016-2021.

Global Gluconic Acid 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. Gluconic acid is a non-corrosive, easily biodegradable, nontoxic and non-volatile acid and due to these properties, its demand in the market is increasing. In addition to other production processes of gluconic acid, biotech fermentation process has proved to be a boon for manufacturers which has increased its market growth. 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.

Global Gluconic Acid Market Segmentation

Market by type is segmented 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.

Market segmentation according to geography includes North America, Europe, Asia-Pacific, South America and Africa. Asia-Pacific and Europe are the major markets for gluconic acid followed by North America. China dominates the global gluconic acid market by largest share while Japan and the Netherlands are the fastest growing countries.

Leaders in the Global Gluconic Acid Market

Growing demand for organic acids has created a good opportunity for gluconic acid in the market. The key players in the market are Roquette, BASF, Sigma-Aldrich, Novozymes and Kerry amongst others. The major competitors prefer investment in research and development to improve the product quality and successful market strategies to maintain their position.

 

Quick Buy

Latest Publications