Gluconic Acid Market size was over USD 50 million in 2017 and industry expects consumption of above 120 kilo tons by 2024.
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Mounting inclusion of bio-based acids in personal care products due to growing importance in upgrading product quality along with enhancing shelf life and may grow gluconic acid market size. These products are used in formulation of products including cleansing, mouthwashes, skin care and shampoo. Escalation in demand for multifunctional and premium personal care products has compelled manufacturer to incorporate more sophisticated ingredients which may favour industry growth. Growing beauty consciousness which has led to increase in sales of skin care products, thereby driving product demand.
Global cosmetics market size may exceed USD 400 billion by 2024. Shifting tendencies towards personalised cosmetic products along with increasing investment in R&D for specialised goods may have a positive influence on industry growth. Growing importance of effective formulations to balance efficiency and cost will stimulate product demand.
|Forecast Period:||2018 to 2024|
|Historical Data for:||2013 to 2017|
|No. of Pages:||240|
|Tables, Charts & Figures:||277|
|Segments covered:||Application, Downstream Potential and Region|
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It is a form of carboxylic acid and its numerous salts includes calcium, sodium and potassium gluconate. Technological innovation, low cost biotechnological manufacturing process, upsurge in the demand for biodegradable acid and growing environmental apprehensions are likely to boost product demand by 2024.
Global food and beverage market size exceeded USD 5 trillion in 2017 and is anticipated to witness strong gains owing to increasing consumption of these items globally. Sodium gluconate is a strong chelating powder in concentrated alkaline solutions which forms constant chelates with copper, calcium, aluminium and iron. These properties make it suitable to be used as an effective food additive, thus propelling gluconic acid market size.
Calcium gluconate has usage in intravenous medication for treating conditions rising from calcium deficits including hypocalcemic tetany, hypocalcaemia due to rapid growth or gestation. Calcium plays an important role in the body as it is necessary for regular functioning of cells, nerves, bone and muscle. Lack of calcium in blood can cause weakening bones, thus consumption of calcium becomes necessary, therefore stimulating gluconic acid market size.
Glucono delta-lactone is an ester of gluconic acid and is formed by the removal of water from the acid. It is used as an acidifier, sequestrant, pickling, leavening and curing agent. Its feature like accumulating a tangy taste to foods items is likely to drive product demand.
Increase in varied products manufacturing to meet consumer demand, specification by means of using safe ingredients is anticipated to fuel gluconic acid market size in the anticipated timeframe. Adoption of bio-based acids to reduce contamination and increase quality while meeting obligatory customer requirement may favour industrial growth.
Increasing Government initiatives by FDA supported by extensive research for manufacturing safe products for promoting use of healthy constituents has prompted product innovation. Market penetration in new generation with increasing consumption of food and cosmetic products may have a positive outlook on industry growth.
High investment cost set up required for infrastructure may hamper industry profitability. High cost involved in the production process with low output to input ratio may impact gluconic acid market price trends.
Gluconic acid Market, By Application
Gluconic acid market size from food application may exceed USD 30 million in forecasted timeframe. Refurbishments and shopping centre developments being designed to include food & beverage kiosks and stalls, which will drive food & beverage market, thus driving product demand.
Gluconic acid market size from pharma application may observe gains over 5% owing to accessibility of quality brands by means of effective supply channel supported by growing consumer purchase capability, which may intensify product demand. The product salts can be articulated into medicines for treating hypomanganism. These products are also added to vitamin mineral dietary supplements which may drive product demand by 2024.
Gluconic acid Market, By Region
Asia Pacific, led by South Korea, Japan, India and China gluconic acid market size is estimated to surpass USD 25 million in the estimated timeframe due to rising consumer awareness about health apprehensions due to usage unsafe chemicals. Rising development of bio ingredients to be used as protecting agent and food additive will stimulate regional product demand.
Europe led by UK, Italy, France and Germany gluconic acid market size may record robust gains over 5%. Growing beverage market in this region should propel industry growth along with strict regulations related chemical usage has stimulated effective production of beverages which may fuel regional product demand.
Brazil gluconic acid market size may witness strong gains due to growth personal care sector, which has led to mounting demand of premium cosmetic product will enhance regional market size.
Competitive Market Share
Global gluconic acid market share is moderately fragmented. Major manufacturers include Roquette, Jungbunzlauer, PMP, TCI Chemicals, Merck Millipore, R-biopharm, Evonik, xzhch, Toronto Chemicals and Fuso chemical.
Market is characterised with increasing product application and balancing use gluconic acid with increased effectiveness along with using more relentless and high yielding production techniques. Companies are involved in reducing cost and volume expansion to accept state-of-the-art technologies with rising manufacturing capacity to keep up with the escalating demand.
Gluconic acid Industry Background
Gluconic acids are carboxylic acid used in metal cleaning for stain removal and rust of metal surfaces. These products are used as raw material for supplying numerous salts including sodium, calcium, and potassium. Its application as cleaning formulator in beer and dairy industry for elimination of milk & beer stone is likely to foster product demand in the forecast timeframe.