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Increasing demand for gluconic acid in various industries including food & beverage, personal care, agriculture industries is expected to drive market growth

NEW YORK CITY, NY, UNITED STATES, March 29, 2022 /EINPresswire.com/ -- The latest market analysis report presented by Reports and Data is titled ‘Global Gluconic Acid Market – Forecast to 2028.’ The report provides a comprehensive view of the Gluconic Acid market, including in-depth information about the key market segments and sub-segments. In this report, our team of market researchers has highlighted the key market dynamics such as market revenue growth drivers, market share, restraints, trends, opportunities, supply & demand ratios, shifting consumer tastes & preferences, changing production & consumption patterns, and technological breakthroughs. Key challenges and barriers to industry growth, such as stringent government regulations and policies and potential market threats and risks, have also been assessed in the report. The latest report offers quantitative and qualitative market insights and overall market dynamics, and hence, highlights the industry's annual sales, regional outlook, and industry statistics.

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Some of the major factors providing impetus to the global materials & chemicals market revenue growth are fast-paced industrialization across the globe and growing demand for raw materials and chemicals in the buildings & construction, pharmaceutical, food & beverage, textile, and agriculture industries. Growing demand for essential consumer goods such as packaged foods & beverages, personal care products & cosmetics, and household hygiene products has driven revenue growth of this market to a significant extent over the recent past. Other key factors contributing to the global market revenue growth are increasing industrial applications of specialty chemicals, growing demand for high-performance, organic agrochemicals in the agriculture sector, increasing government spending on the materials & chemicals industry, rising environmental awareness, and growing need for eco-friendly, environmentally sustainable raw materials and chemicals. As per Reports and Data’s market research report, the global materials & chemicals market is estimated to reach a market size of USD 1.8 Billion in 2028 from USD 1.2 Billion in 2020, registering a 5.2% CAGR during the forecast period.

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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Some Key Highlights from the Report:

Based on type, the calcium salt 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 the treatment of calcium deficiency conditions including hypocalcaemia and hypocalcemic tetany.

The gluconic acid market in Europe is expected to register a significantly robust CAGR during the forecast period. Stringent regulations regarding the 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 the market growth in the region.

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 the 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 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. An 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.

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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

Europe

Asia Pacific

Latin America

Middle East & Africa

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About Reports And Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, TouchPoints, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provide our clients with the ability to secure an edge over their respective competitors.

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