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Glucaric Acid Market Size to Surpass USD 1,907.30 Million – GlobeNewswire

| Source: The Brainy Insights The Brainy Insights
Pune, INDIA
Newark, Oct. 10, 2023 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the USD 961.44 million in 2021 global glucaric acid market will reach USD 1907.30 million by 2030. Numerous characteristics of glucaric acid make it very beneficial in the food and beverage industries. It also has uses in producing industrial cleaning agents, personal care products, and cosmetics. Future demand for glucaric acid will also increase due to its widespread application in textiles and medicine. The demand for food, beverages, clothing, cleaning supplies, medications, and cosmetics will rise due to the expanding world population and increased disposable income. This increase in consumer demand will support the demand for glucaric acid. Therefore, throughout the projection period, the global market will benefit greatly from the expanding uses for glucaric acid.

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Key Insight of the Global Glucaric Acid Market

Asia Pacific is expected to rise the fastest during the forecast period.

India and China, in particular, make up a major chunk of the Asia Pacific region’s population. The consumer marketplaces in the two nations are substantial. The region is experiencing rapid urbanization and industry, fuelling this rise. The regional market also includes a strong manufacturing sector that serves the market’s sizable consumer base. The region’s rising per capita income has helped to fuel rising demand for food, drinks, and textiles. The expansive network of pharmaceutical chains in China and India also expands the regional market.

In 2022, the pure glucaric acid segment dominated the market with the largest market share of 24.89% and market revenue of 239.30 million.

The product segment is divided into calcium d-glucarate, d-glucaric acid-1,4-lactone, pure glucaric acid, potassium sodium d-glucarate, and others. In 2022, the pure glucaric acid segment dominated the market with the largest market share of 24.89% and market revenue of 239.30 million.

In 2022, the food ingredients segment dominated the market with the largest market share of 27.55% and market revenue of 264.87 million.

The application segment is divided into detergents, de-icing applications, food ingredients, corrosion inhibitors, and others. In 2022, the food ingredients segment dominated the market with the largest market share of 27.55% and market revenue of 264.87 million.

Advancement in market

Solugen, a manufacturer of environmentally friendly chemicals, has received an additional USD 200 million to begin construction on its upcoming factories and enter new markets. Solugen intends to produce affordable, high-performance chemicals without fossil fuels by combining enzymatic and catalytic manufacturing techniques. Hydrogen peroxide and gluconic acid, used in water treatment to stop calcium phosphate scaling and metal corrosion, were the company’s first products. More recently, Solugen began marketing glucaric acid, which is manufactured by oxidizing gluconic acid with hydrogen peroxide. Scaling is decreased, and the cleaning effectiveness of automatic dishwashing detergents is increased by glutaric acid. Solugen will be able to create a new, unnamed molecule with the aid of the most recent round of investment, which will also help a significant industry fight scale and corrosion.

Report Scope

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Market Dynamics

Driver: The increasing demand for glucaric acid from the chemicals industry.

The increasing demand for cleaning agents from residential, industrial and commercial sectors has increased the demand for glucaric acid, which is used as a clean, sustainable and more eco-friendly alternative to phosphates for producing soaps, detergents, etc.

Restraints: the lack of commercially viable production processes.

The absence of economical production processes has hindered the commercial production of glucaric acid. Therefore, the limits on production amounts impede the potential applications and restrain the market’s growth.

Opportunities: the increasing applications of glucaric acid.

The research and development to improve the production processes of glucaric acid has led to innovation and the discovery of new applications of the product. Glucaric acid shows potential applicability in a range of sectors. It shows promising results in pharmaceuticals, metal extraction, food and beverages and cosmetics, to name a few. Therefore, the increasing applications of glucaric acid will offer lucrative opportunities for the market’s growth.

Challenges: the market has few takers concerning production.

The commercial-level production of glucaric acid is hindered by the absence of economic production processes, which leads to high costs. Therefore, not many market players invest in the market. Furthermore, the high operational and maintenance costs also alienate many market players, thereby challenging the market’s growth.

Some of the major players operating in the global glucaric acid market are:

• BASF SE
• Kalion Inc.
• Biosynth Carbosynth
• Jungbunzlauer Suisse AG
• PMP Inc
• biofuels Digest
• Navozymes
• Haihang Industry
• CHEMOS GmbH & Co. KG
• AK Scientific Inc.
• Merck KGaA
• Alfa Aesar
• Occidental Petroleum Corporation
• Rivertop Renewables, Inc.
• The Archer-Daniels-Midland Company
• TCI Chemicals
• R-Biopharm
• Cayman Chemicals
• Roquette Freres

Key Segments covered in the market:

By Product

• Calcium D-glucarate
• D-glucaric Acid-1,4-lactone
• Pure Glucaric Acid
• Potassium Sodium D-glucarate
• Others

By Application

• Detergents
• De-icing Applications
• Food Ingredients
• Corrosion Inhibitors
• Others

By Region

• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

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About the report:

The market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter’s five forces model, attractiveness analysis, Product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.

About The Brainy Insights:

The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients’ objectives of high-quality output within a short span of time. We provide both customized (clients’ specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients’ requirements whether they are looking to expand or planning to launch a new product in the global market.

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