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Market Analysis: Pancreatin Market, Ultrafiltration Membrane market and Propionic Acid Market forecasted for 2023-2030

Market Analysis: Pancreatin Market, Ultrafiltration Membrane market and Propionic Acid Market forecasted for 2023-2030

SEATTLE, WASHINGTON, USA, July 1, 2023/ -- The Pancreatin Market is expected to grow from USD 138.40 Million in 2022 to USD 184.60 Million by 2030, at a CAGR of 4.20% during the forecast period.The Pancreatin market targets individuals suffering from pancreatic insufficiency or related digestive disorders. It is primarily used as a digestive enzyme supplement to aid in the breakdown of fats, carbohydrates, and proteins for optimal nutrient absorption. The increasing prevalence of digestive disorders worldwide has increased the demand for pancreatin supplements, driving revenue growth in the market.Moreover, the growing popularity of alternative medicine and natural remedies has also contributed to the increasing demand for pancreatin supplements.

There are two types of pancreatin available in the market:

• Pancreatin powder
• Pancreatin pellets

The powder form of pancreatin is commonly used in the food industry as a dietary supplement, while the pellets form is used in the pharmaceutical industry as an active ingredient in various digestive enzyme supplements.

Pancreatin is a substance derived from the pancreas of pigs, cows, or other animals, which contains digestive enzymes such as amylase, protease, and lipase. Pancreatin is used in the food processing industry to improve the texture and flavor of baked goods, and to process meat, dairy, and other food products. It is also used as a dietary supplement for people with pancreatic insufficiency or digestive disorders, such as cystic fibrosis, pancreatitis, or celiac disease. In the pharmaceutical industry, pancreatin is used to produce enzymes for drug formulations, and as a source of pancreatic tissue for research and development.

North America is expected to hold the largest market share of the pancreatin market, accounting for more than 40% of the global market share in terms of value. Europe is anticipated to follow North America with a market share of around 30%, whereas the Asia Pacific is expected to hold a market share of around 20% by the end of the forecast period. The remaining shares are expected to be held by other regions such as Latin America, Middle East & Africa.

The global pancreatin market is highly competitive and fragmented, with a few major players dominating the market. The major companies operating in the pancreatin market are Shenzhen Hepalink, Nordmark, Sichuan Deebio, Sichuan Biosyn, Chongqing Aoli, ALI, Geyuan Tianrun, BIOZYM, Spectrum Chemicals, and others.

Shenzhen Hepalink reported a revenue of $2.4 billion in 2020, while Nordmark reported a revenue of €177 million in 2019. Sichuan Deebio recorded a revenue of $122 million in 2020. While the revenues of other players in the market are not available, it can be inferred that the global pancreatin market is expected to grow in the future, with these players leading the way.

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The Ultrafiltration Membrane Market is expected to grow from USD 1.20 Billion in 2022 to USD 2.00 Billion by 2030, at a CAGR of 6.80% during the forecast period.The ultrafiltration membrane target market is growing at a rapid pace due to the increasing awareness about water conservation and purification. The demand for ultrafiltration membranes has increased in various industries such as food and beverage, biotech, pharmaceutical, and chemical industries, among others. These industries require high-quality water for their processes, and the ultrafiltration membrane technology provides an effective water purification solution.The major factors driving revenue growth of the ultrafiltration membrane market include rising demand for clean water, stringent environmental regulations, and increasing focus on sustainable development.

Ultrafiltration membranes can be classified into two broad categories:

• Inorganic
• Organic

Inorganic membranes are typically made of ceramics, metal oxides, or polymeric materials, while organic membranes are synthetically produced from polymer materials such as cellulose acetate, polyamide, or polyethersulfone.

Ultrafiltration membrane has diverse applications in various industries like industrial and municipal, food and beverage, healthcare and bioengineering, seawater reverse osmosis, and potable water treatment. In industrial and municipal sectors, it is used to remove suspended solids, bacteria, and virus from water. In the food and beverage industry, it is used for juice and wine clarification, milk and whey concentration, and protein fractionation. In healthcare, it is used for blood plasma separation and drug purification.

As per the report, the Asia-Pacific region is expected to hold the highest market share of the ultrafiltration membrane market with a CAGR of 8.4% during the forecast period of 2020-2026. North America and Europe are expected to follow with a market share of 26% and 24%, respectively. The Middle East and Africa are projected to hold a market share of 13% during the forecast period

Some of the major companies in this market include Koch, Asahi Kasei, SUEZ, DuPont, Toray, 3M (Membrana), Mitsubishi Chemical, Nitto Denko Corporation, Synder Filtration, Microdyn-Nadir, Grant (Canpure), Pentair (X-Flow), Pall Water, CITIC Envirotech, Litree, Scinor, Tianjin MOTIMO, Zhaojin Motian, and Memsino.

In terms of sales revenue, some of the top companies in the ultrafiltration membrane market include Koch (USD 110 billion in 2020), Asahi Kasei (USD 22 billion in 2020), SUEZ (USD 18.4 billion in 2020), DuPont (USD 21.5 billion in 2020), and Toray (USD 22.4 billion in 2020).

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The Propionic Acid Market is expected to grow from USD 773.00 Million in 2022 to USD 957.20 Million by 2030, at a CAGR of 3.10% during the forecast period.Propionic acid is a carboxylic acid that is widely used in the food, animal feed, and pharmaceutical industries. The Propionic Acid market is expected to grow significantly over the forecast period due to increasing demand for chemical additives and food preservatives.The demand for propionic acid in the food industry is mainly driven by its ability to inhibit the growth of molds and bacteria in baked goods, cheese, and dairy products. The increasing trend of convenience food consumption and the growing demand for ready-to-eat meals is also driving the growth of propionic acid in the food industry.

The three main methods of producing propionic acid are:

• The oxo process involves the oxidation of n-butanol using a cobalt catalyst
• The Reppe process involves the reaction of acetylene with carbon monoxide and water using a palladium catalyst
• The by-product process is obtained as a by-product of other processes at plants that manufacture products like ethyl alcohol, starch, and sugar

Propionic acid has a wide range of applications in various industries. In the grain and feed industry, it is used as a preservative to prevent fungal growth and prolong shelf life. Calcium and sodium propionate salts are also used as preservatives in bakery products. In agriculture, propionic acid is used as a herbicide to control weeds. It is also used in the production of cellulose acetate propionate, which is used in the manufacturing of optical coatings, packaging films, and other products. Other applications of propionic acid include the production of flavors and fragrances, pharmaceuticals, and plasticizers.

The regions expected to dominate the propionic acid market are North America, Europe and Asia Pacific. North America is predicted to hold the largest market share percent valuation due to high demand from the animal feed industry, followed by Europe and Asia Pacific regions. Europe is expected to witness substantial growth due to the increasing adoption of propionic acid in food preservatives and pharmaceuticals. The Asia Pacific region is also expected to grow significantly due to the rising demand for animal feed and processed food products.

Propionic Acid is a widely used organic acid with various applications in the animal feed, food and beverage, pharmaceutical, and herbicide industries. The Propionic Acid market is highly competitive, with key players like BASF, Dow, Perstorp, and Eastman dominating the market share.

BASF reported sales revenue of €59.3 billion in 2020, while Dow reported sales revenue of $46.3 billion in 2020. Perstorp reported sales revenue of SEK 11.3 billion in 2020, and Eastman reported sales revenue of $8.5 billion in 2020. Sasol reported sales revenue of ZAR 150.5 billion in 2020.

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Mohit Patil
Prime PR Wire
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