What Is The Current and Historic Market Size Analysis Of The Glucaric Acid Market?
The glucaric acid market has seen considerable growth due to a variety of factors.
• The glucaric acid market has expanded significantly in recent years. It will grow from $1.06 billion in 2024 to $1.16 billion in 2025, reflecting a compound annual growth rate (CAGR) of 9.3%.
This growth is driven by rising pharmaceutical demand, adoption as a food additive, increased environmental awareness, supportive government regulations, innovations in R&D, sustainable chemical demand, industrial cleaning applications, and growth in personal care product demand.
What Are The Predictions for The Glucaric Acid Market in the Coming Years?
The glucaric acid market is expected to maintain its strong growth trajectory in upcoming years.
• The glucaric acid market is projected to see strong growth, reaching $1.63 billion by 2029, at a CAGR of 8.9%.
Growth drivers include a focus on green chemistry, bio-based polymer integration, capacity expansion, diversification into agriculture and textiles, and greater use of green packaging solutions. Key trends will include glucaric acid in green packaging, exploration of bio-based materials, integration with sustainable polymers, renewable energy applications, biotechnological production methods, eco-friendly construction materials, and collaborative innovation efforts.
Which Drivers Are Accelerating Growth In The Glucaric Acid Market?
The growing demand for eco-friendly and bio-based chemicals is set to drive the growth of the glucaric acid market. These chemicals are derived from renewable resources with minimal environmental impact, addressing concerns about sustainability and fossil fuel dependence. The demand for such chemicals is rising due to environmental awareness and regulatory pressures. Glucaric acid is used in eco-friendly chemicals for applications like detergents and food additives. In December 2022, the International Energy Agency noted a 56% rise in demand for vegetable oil, waste oils, and fats from 2022-2027, which supports the growth of the glucaric acid market.
What Are The Core Segments Of The Global Glucaric Acid Market?
The glucaric acid market covered in this report is segmented –
1) By Type: Calcium D-Glucarate, Pure Glucaric Acid, D-Glucaric Acid-1,4-Lactone, Potassium Sodium D-Glucarate, Other Types
2) By Application: Detergents, Healthcare, Food Manufacturing, Corrosion Inhibitors, Other Applications
3) By Sales Channel: Direct Sale, Indirect Sale
Subsegments:
1) By Calcium D-Glucarate: Calcium D-Glucarate Powder, Calcium D-Glucarate Capsules Or Tablets
2) By Pure Glucaric Acid: Pharmaceutical Grade Pure Glucaric Acid, Industrial Grade Pure Glucaric Acid
3) By D-Glucaric Acid-1,4-Lactone: Food Grade D-Glucaric Acid-1,4-Lactone, Pharmaceutical Grade D-Glucaric Acid-1,4-Lactone
4) By Potassium Sodium D-Glucarate: Potassium Sodium D-Glucarate Powder, Potassium Sodium D-Glucarate Tablets
5) By Other Types: Liquid D-Glucaric Acid, Other Specialized Forms
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What Emerging Trends Are Influencing The Growth Of The Glucaric Acid Market?
Key players in the glucaric acid market are concentrating their efforts on strategic investments to bolster both the expandability and efficiency of their production operations. These planned financial investments aim to fulfil long-term objectives including enhancing operational abilities, augmenting market presence, or fostering innovative advancements in certain business sectors. A case in point is the announcement made by Solugen, a bio-manufacturing corporation based in the US, in June 2024. It is expected to secure a $214 million loan from the US Department of Energy to fund the establishment of a bio-based chemical factory in Minnesota. The factory aims to manufacture glucaric acid, gluconic acid, and hydrogen peroxide using both enzymatic and chemical procedures for sectors such as concrete, cleaning, agriculture, and oil, thus promoting sustainable and efficient production practices.
Who Are the Key Players In The Glucaric Acid Market?
Major companies operating in the glucaric acid market are:
• The Archer Daniels Midland Company
• BASF SE
• LyondellBasell Industries
• Merck KGaA
• Koninklijke DSM N.V
• Sinochem Group
• Roquette Frères SA
• Novozymes A/S
• Jungbunzlauer Suisse AG
• Toronto Research Chemicals Inc
• Codexis Inc.
• Cayman Chemical Company
• Tokyo Chemical Industry Co. Ltd
• Biosynth Ltd
• Chemrez Technologies Inc
• Parchem Fine & Specialty Chemicals
• Santa Cruz Biotechnology Inc
• Rennovia Inc
• Alfa Chemistry
• Rivertop Renewables
• Haihang Industry Co Ltd
• CHEMOS GmbH & Co KG
• AK Scientific Inc
• Kalion Inc
• PMP Inc
• Shandong Baovi Energy Technology Co Ltd
• Otto Chemie Pvt Ltd
• Glentham Life Sciences Limited
What Are The Regional Insights Into The Glucaric Acid Market?
North America was the largest region in the glucaric acid market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the glucaric acid market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
