According to a recent market study published by Growth Market Reports, titled, “Global Glucaric Acid Market” by types, by applications, and by regions: Size, Share, Trends and Opportunity Analysis, 2019-2029”, the market was valued at USD 12.56 Million in 2021 and is expected to grow at a growth rate of 5.2% by the year 2030. As per Growth Market Reports industry analyst Sakshi Bhoyar, “Global Glucaric Acid Market is anticipated to witness significant growth during the forecast period 2021-2029. Significant benefits offered by glucaric acid such as the single-step process and cost-effective production are driving the market. Shifting consumer preferences towards the adoption of biodegradable products is fueling the market.

Glucaric acid, also known as saccharic acid, is manufactured by glucose and nitric acid. Glucaric acid is produced from the chemical oxidation of glucose, with nitric acid as solvent and oxidant, which led to low yields and toxic byproducts. Glucaric acid is an eco-friendly raw material used in the production of various products such as soaps, detergents, and others. Increasing adoption of glucaric acid in various applications, including detergents, corrosion inhibitors, food additives & health supplements, and pharmaceuticals, is expected to drive the market during the forecast period. Growing demand for eco-friendly products among consumers across the globe is boosting the market. Market players are implementing different strategies such as developing bio-biodegradable products, which is expected to boost the market in the near future.

Key factors that are anticipated to fuel the demand for the global glucaric acid market during the forecast period, due to increase in various application of glucaric acid globally and growing demand for glucaric acid in the food industry. Conversely, high cost of mass production of glucaric acid is hampering the growth of the glucaric acid market. Growing demand for natural phytochemical substances for cancer treatment is creating lucrative opportunities for market players.

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The value chain concept disaggregates a firm into the various activities it performs. Conceptualizing from the firm level, this concept has been applied to industries as a whole. The resulting unified merchant embedded computing value chain comprises activities such as strategy, defining scope, user documentation, marketing, implementation, training & certification, maintenance & support, subscription, licensing, and operations. Developers, outsourcing companies, resellers, marketing companies, and license issuers have different profit margins that vary depending on the material, product, sizes, and prices, offered by the company.

The primary as well as secondary research methodology is used for keen observation and study about the Glucaric Acid market. The primary research methodology involves commercial agreements made with the primary respondents as well as consulting partners to extract critical information pertaining to the syndicated as well as consulting projects. Primary interviews conducted with the stakeholders across industry verticals on regular intervals in line with the ongoing studies and to keep ourselves abreast with the latest market trends & developments. Validation of the estimated market size, current and future trends done from the key opinion leaders (KOLs).

These KOLs are the CXO level people from leading companies in the industry and possess the experience of around 10-20 years in the industry. On the other-hand the secondary research methodology involves exhaustive desk research undertaken to understand the prevailing market trends & dynamics, market competition, customer insights and other KPIs. Company websites, their SEC filings, annual reports, broker & financial reports and investor presentations are scanned for understanding the competitive scenario, details and developments, and the overall competitive landscape. Regional government and statistical databases analyzed for macro & micro analysis. Research publications and paid data referred to obtain and validate the market estimations, budget, expenditure and other statistical insights.

The COVID-19 pandemic has highlighted economic disparities in the global demand in the crises of global interdependence and governance challenges. Epidemics are isolated concerns for businesses and prospects for emerging patterns and vulnerabilities.  According to the current pandemic situation, strict measures are required for monitoring the situation, which in turn, affect businesses causing unanticipated short and long-term effects. Consequently, epidemics and pandemics are problems for individual market and an enhancement of existing dynamics and limitations.

In the long-term, COVID-19 can serve as another opportunity for manufacturers to reconsider their commitment to the supply chain in regions prone to outbreaks and to reconfigure themselves regionally. In current scenario, COVID-19 is hampering the production process of several manufacturing industries and businesses. Moreover, trade barriers are further reducing the demand-supply of various products and services. However, reduction in outdoor activities and social distancing has created lucrative opportunities for the market.

Key Takeaways from the Study

  • The players include Kalion, Inc, Aadhunik Industries, Alfa Chemistry, Cayman Chemical, Rivertop Renewables, Inc, Biosynth Carbosynth, Otto Chemie Pvt. Ltd, Glentham Life Sciences Limited, Merck KGaA, and Global Calcium Pvt Ltd.
  • On the basis of type, the pure glucaric acid segment is estimated to expand at a significant pace during the forecast period, due to rising awareness among consumers related to significant benefits offered by glucaric acid. Moreover, growing concerns related to the environment and stringent regulations imposed by governments on the usage of harmful chemicals is boosting the market.
  • Based on applications, the detergent segment is estimated to grow in the near future, due to increasing adoption of glucaric acid in laundry, dishwasher detergents, and household cleaning. Glucaric acid has cleansing agent properties and is prominently used as a substitute for phosphate. This is expected to boost the glucaric acid market over the forecast period.
  • In terms of regions, the global Glucaric Acid markets are split into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. The market in North America is projected to expand at a significant rate during the forecast period. Growing initiatives and support from various governing bodies such as Environmental Protection Agency (EPA) are expected to propel the market.

Report Scope

Report Metric

Details

Market Value in 2021

USD 12.56 Million

Market Growth Rate (from 2020 to 2028)

5.2%

Historical Data

2019 & 2020

Base Year

2021

Forecast Period

2021 – 2029

Units Considered

Value (USD Million)

Market Segments

By Types, By Application, and By Regions

Key Companies Profiled

Kalion, Inc, Aadhunik Industries, Alfa Chemistry, Cayman Chemical, Rivertop Renewables, Inc, Biosynth Carbosynth, Otto Chemie Pvt. Ltd, Glentham Life Sciences Limited, Merck KGaA, and Global Calcium Pvt Ltd.

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

Target Audience

  • Supply-side: Raw material suppliers and Manufactures  
  • Demand Side: Corrosion Inhibitors, Food Ingredients, Detergents, and Others.
  • Regulatory Side: Concerned government authorities, and other regulatory bodies.
  • Associations and Industry Bodies: United States Environmental Protection Agency (EPA) and others.