The new report by Expert Market Research titled, Global Glucuronolactone Market Size, Share, Trends, Growth, Report and Forecast 2023-2028, gives an in-depth analysis of the global glucuronolactone market, assessing the market based on its segments like applications, end-uses, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators and analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
Forecast CAGR (2023-2028): 5%
The glucuronolactone market is being driven by the increasing demand for glucuronolactone in the food and beverage sector. It is increasingly used as an additive and detoxifying agent in the food and beverage industry. The growing health consciousness among the consumers is also aiding the market growth, as glucuronolactone finds increased usage in energy supplements.
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Consumer preferences have shifted as a result of rapid urbanisation, with a demand for products that deliver an instant energy boost. Consumers are increasingly investing in ways to improve their physical fitness and overall well-being, thus, propelling their nutritional supplement intake. This is expected to drive the market growth in the forecast period.
Glucuronolactone Industry Definition and Major Segments
Glucuronolactone is a chemical that is produced in small amounts in the connective tissues, such as in animals, plants, and human bodies. In addition, it can also be created in the labs and finds increased usage in the production of energy drinks, such as RedBull, Gatorade, and Monster drinks, which are known to help with concentration enhancement and in the improvement of physical performance.
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The glucuronolactone market, on the basis of application, can be segmented into:
- Processing Aids and Additives
- Energy Supplements
Based on end-use, the market can be segregated into:
- Food and Beverages
The regional markets for glucuronolactone include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Glucuronolactone Market Trends
The glucuronolactone market is being driven by the heightened demand for the product in the pharmaceutical sector. This can be attributed to the rapidly growing geriatric population, which is more susceptible to diseases and injuries and the rising incidences of chronic illnesses around the globe.
In this regard, glucuronolactone helps to maintain the consistency of drugs. Furthermore, rapid technological advancements are likely to aid the market in the forecast period. Technological advancements, such as utilising advanced clinical solutions are expected to impact market growth positively.
High consumer purchasing power, high standards of living, along with the presence of leading beverages manufacturers are also leading to the industry growth. These factors are anticipated to provide a boost to the market growth in the coming years.
Key Market Players
The major players in the market are Aceto Corporation, Creative Compounds, Foodchem International Corporation, Millipore Sigma, and Shouguang Zhonghe Biochemical Engineering Co. Ltd, among others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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