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What’s driving the Gluconic Acid Market demand? Roquette, Jungbunzlauer, PMP, Evonik, TCI Chemicals, Merck Millipore, R-biopharm, Toronto Research Chemicals

Gluconic Acid Market

Gluconic Acid Market

Gluconic Acid Market demand is stimulated by high consumer awareness and inclination towards bio-based products due to their low toxicity, environment friendly nature & biodegradability. These bio-based organic acids are synthesized from microorganism or can be produced extracellularly. They are noncorrosive, non-toxic, non-volatile in nature, capable of reducing contamination and increasing quality of the product.

Gluconic acid market from personal care industry should generate revenues at over USD 6.5 million by 2024. Positive indicators in personal care industry growth owing to increasing demand in organic personal care products supported by rising economic standards should propel industry growth. These products are widely applicable in manufacturing cosmetic products, cleansers, foaming agents, wetting agents, bath products, baby products, lipstick, antimicrobial agents and dentine cleaners.

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Strong demand outlook for gluconic acid in household detergents, industrial cleaners, personal care products and agricultural chemical industries should propel product demand. Higher shelf life and sustainability compared to synthetic products along with stringent government regulations pertaining to substituting petroleum-based products will further bolster industry growth.

Key raw ingredients for manufacturing gluconic acid includes sugar which is utilized as a sweetening agent in food & beverages, and is acquired from several plants, including sugar cane and sugar beet. The product is manufactured using glucose, which can be naturally present is food including honey or can be produced from sugar. High cost competitiveness & complex manufacturing process for these feedstocks over conventional acids is a major industry restraint, thus affecting gluconic acid market price trends. This creates an opportunity for marketers to utilize industrial and agricultural waste in production process to increase industrial profitability.

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Gluconic acid market from agrochemical industry application should surpass USD 3.5 million during forecast timeframe owing to its ability to enhance fertilizer performance & productivity upon mixing. High technological innovation for product & manufacturing technology along with development of bioremediation technology should propel industry size.

Gluconic acid industry from sodium gluconate should witness significant gains at over 5% by 2024 due to its green chemistry and lower carbon footprint. These organic acids offer stability in a wide range of pHs, and temperature. It is chelating agent for plating, alumina dyeing and cement industries hence propelling product demand.

Japan gluconic acid market will witness gains at over 5% during projected period which can be attributed to extensive regional presence of textile, agricultural chemical and personal care industries. Rising per capita income along with government support for bio-based manufacturing industry should further strengthen regional industry growth.

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Germany gluconic acid industry would generate revenues over USD 6 million by 2024. This growth in can be ascribed to presence of strict ecological protection policies accompanied by growing consumer health awareness which should stimulate regional industry growth.

Global gluconic acid market share is moderately fragmented and competitive with key manufacturers including Roquette, Saraya, Ecover Jungbunzlauer, PMP, TCI Chemicals, Merck Millipore, R-biopharm, Evonik, xzhch, Toronto Research Chemicals, Prathista and Fuso chemical. Companies focus in expanding their marketing network by developing strategies through partnership, mergers & acquisition. Growing investment in R&D by companies for product development also strengthens market penetrability.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Global Market Insights, Inc.
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