The Business Research Company's Glucaric Acid Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LANDON, GREATER LANDON, UK, July 22, 2024 /EINPresswire.com/ -- The global glucaric acid market has demonstrated robust growth in recent years, expanding from $0.98 billion in 2023 to $1.06 billion in 2024, at a compound annual growth rate (CAGR) of 8.7%. It will grow to $1.50 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%. This growth can be attributed to increasing pharmaceutical demand, widespread adoption of food additives, heightened environmental awareness, government regulations, R&D innovations, and the rising need for sustainable chemicals in industrial cleaning and personal care products.

Rising Demand for Eco-Friendly and Bio-Based Chemicals Drives Market Growth

The rising demand for eco-friendly and bio-based chemicals is a significant factor driving the growth of the glucaric acid market. Eco-friendly and bio-based chemicals are produced from renewable resources using processes that minimize environmental impact and reduce reliance on fossil fuels. Glucaric acid, a biodegradable alternative, is increasingly used in various applications such as detergents, corrosion inhibitors, and food additives. According to the International Energy Agency's December 2022 report, demand for vegetable oil, waste, and residue oils and fats increased by 56% to 79 million metric tons for the 2022–2027 period. Additionally, wastes and residues are expected to contribute 13% of biofuel production by 2027, up from 9% in 2021. This rising demand for sustainable solutions is anticipated to propel the glucaric acid market.

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Major Players and Market Trends

Key players in the glucaric acid market include 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, and Toronto Research Chemicals Inc., among others. These companies are focusing on adopting innovations in production processes, such as full-scale glucaric acid fermentation, to offer cost-effective, high-purity, and environmentally friendly alternatives for industrial applications. For example, in November 2021, Kalion Inc., a U.S.-based biotech company, completed the commercialization of its glucaric acid product through custom manufacturing at Evonik in Europe. Kalion's KSPG40 glucaric acid is an effective corrosion inhibitor and offers a high-purity calcium glucarate, enhancing the company's market position.

Trends Shaping the Market

Major trends shaping the glucaric acid market include the integration of glucaric acid in green packaging solutions, exploration of bio-based materials, sustainable polymer integration, and applications in renewable energy. The market is also witnessing advancements in biotechnological production methods and the development of eco-friendly construction materials. Collaborative innovation efforts are increasingly prominent as companies seek to address environmental concerns and regulatory pressures.

Segments

• Type: Calcium D-Glucarate, Pure Glucaric Acid, D-Glucaric Acid-1,4-Lactone, Potassium Sodium D-Glucarate, Other Types
• Application: Detergents, Healthcare, Food Manufacturing, Corrosion Inhibitors, Other Applications
• Sales Channel: Direct Sale, Indirect Sale

Geographical Insights: North America Leading the Market

North America was the largest region in the glucaric acid market in 2023. Asia-Pacific is expected to be the fastest-growing region during the forecast period, driven by increasing adoption of eco-friendly solutions and expanding industrial applications.

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Glucaric Acid Global Market Report 2024 from TBRC covers the following information:

Market size data for the forecast period: Historical and Future
Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Glucaric Acid Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on glucaric acid market size, glucaric acid market drivers and trends, glucaric acid market major players, competitors' revenues, market positioning, and market growth across geographies. The glucaric acid market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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