The growing healthcare and pharmaceutical industries, coupled with the popularity of energy drinks and supplements will be the major factors influencing the market growth.
Market Size – USD 350.8 Million in 2020, Market Growth – CAGR of 3.64%, Market Trends – Rise in import-export of Glucuronolactone worldwide.
The global glucuronolactone market is expected to reach USD 465.2 Million by 2028, according to a new report by Reports and Data. This can mainly be associated with the growing healthcare and pharmaceutical industries, coupled with the popularity of energy drinks and supplements.
The high usage of chemical or metabolite in food & drug poisoning, hepatocirrhosis & hepatitis as well as the adjuvant drugs for curing of rheumatoid arthritis will encourage market growth over the forecast period. The product is also used as a predecessor in the synthesis of vitamin C, which will push the expansion of the market. It is simultaneously converted and metabolized into non-toxic components as it enters the body.
Moreover, the popularity of energy drinks and supplements by athletes, sportsmen, and gym professionals will fuel the growth of the market, as these provide ergogenic aid that supports them in the recovery from muscle strain. It also helps to improve stamina, mental health, and physical strength. Glucuronolactone-based products may have a range of side effects when consumed, which will be a hindrance to the growth of the market.
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The report provides comprehensive assessment of the market covering key elements such as revenue estimations, cost analysis, import/export, production and consumption trends, CAGR, gross margin, and supply & demand patterns. It also sheds light on recent technological developments, product advancements, and research and development activities in the region.
The report examines the key players operating in the market along with their market position, market share, revenue, gross margin, and business strategies. SWOT analysis and Porter’s Five Forces Analysis are used to examine and assess the market and its players. It also covers recent mergers and acquisitions, joint ventures, collaborations, agreements, partnerships, and product launches and brand promotions.
Key companies profiled in the report include:
Shaoxing Marina Biotechnology Co.,Ltd., Hubei Yitai Pharmaceutical Co., Ltd, Foodchem International Corporation, Merck Millipore Corporation, Suzhou No. 5 Factory Pharmaceutical, Creative Compounds, Anhui Fubore, Shouguang Zhonghe Biochemical, and Aceto Corporation, among others.
Market Segmentation by Types:
Product type Outlook (Volume, Kilo tons; 2020-2028 and Revenue, USD Million; 2020-2028)
Application Outlook (Volume, Kilo tons; 2020-2028 And Revenue, USD Million; 2020-2028)
- Processing aids & additives
- Energy supplements
Industry verticals Outlook (Volume, Kilo tons; 2020-2028 And Revenue, USD Million; 2020-2028)
- Food & beverages
- Healthcare & Pharmaceuticals
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Regional analysis covers in-depth analysis of analysis of the revenue, market share, and growth rate of the global Glucuronolactone market in each region for the forecast period of 2021-2028. The report covers production and consumption rate, current and emerging trends, import/export, supply and demand, and presence of key players in each region.
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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Further key findings from the report suggest
- The market is segmented on the basis of product type into powder, liquid and tablet/capsule.
- The powder segment dominated with ~40% of the market share in 2020.
- Glucuronolactone powder is used excessively in health drinks and supplements, which are generally consumed by athletes, sportsmen and gym professionals.
- The liquid segment held the second largest market share of ~35% in 2020.
- The market is segmented on the basis of application into preservatives, antioxidants, processing aids & additives, energy drinks & supplements, and others.
- The energy drinks & supplements segment dominated with ~32% of the market share in 2020, due to the changing lifestyles and consumption pattern of the consumers.
- The fact that energy drinks are becoming more of a status symbol, especially among the youth, is forecasted to drive the growth of the energy drinks & supplements segment.
- The market is segmented on the basis of industry verticals into food & beverages, healthcare & pharmaceuticals, and others.
- The healthcare & pharmaceuticals segment dominated with ~54% of the market share in 2020, owing to the growing concerns regarding health disorders, coupled with the increasing old age population.
- The market is segmented on the basis of geography into North America, Europe, Asia Pacific, Latin America, and MEA.
- North American region dominated with ~40% of the market share in 2020, owing to the presence of the key end-user industries in the region. Some of them being Rockstar Inc, Red Bull, and Monster.
- The Europe region held the second largest share of ~28% of the market in 2020.
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