Press release
Food Grade Hyaluronic Acid Market Growth Analysis, Opportunity Assessment & Forecast by 2028
COVID-19 Impact
Production Halted Owing to Global Industrial Shutdown
The COVID-19 pandemic has caused financial downfall in most of the industries owing to stringent lockdowns globally. This scenario also impacted food grade hyaluronic acid production. As several chemical industries do not fall under essential services such as this product, their operations were halted for time being to curb the spread of the virus. Post-lockdowns, it is predicted that the demand shall rise owing to the supply gap faced by various end-use industries.
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Market Segmentation
Based on type, the market for food grade hyaluronic acid is classified into common food and health food. By application, the market is segmented into food, beverage, jelly, dairy products, and others. Based on geography, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
What Does the Report Contain?
The report has an in-depth analysis of the various market dynamics affecting growth. Thorough research on the primary and secondary sources has been done to ensure that our experts are able to provide authentic inferences on the market for food grade hyaluronic acid. Market projections are also enlisted to help the client make decisions regarding their business. Moreover, all the market segments, regional analysis, pricing, competitive landscape, and more nitty-gritty of the market are discussed in detail in this report. This will provide the client an all-round comprehensive information about the market.
Driving Factor
Rising Incidence of Arthritis in Adult Consumers to Augment Growth
The deficiency of the acid in the body causes diseases such as skin wrinkles, arteriosclerosis, and arthritis. The prevalence of such diseases across various demographics is projected to propel the market. For example, the National Arthritis Data Workgroup released information that around 22% of American adults suffer from Arthritis or other rheumatic conditions. The rapidly expanding food and beverage industry, paired with development in product, is expected to garner food grade hyaluronic acid market growth. The acid is being used in various food products and used as a supplement in food and beverages in the form of cookies, candy, and ice cream. This is anticipated to boost the demand for the product in the forthcoming years.
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Regional Insights
High Consumption of Bakery Products in Europe to Spur Demand
Europe is anticipated to hold a substantial food grade hyaluronic acid market share in the forthcoming years. This is due to the rapid development in the food industry. The high consumption of bakery products in the region is anticipated to propel the market growth.
Asia Pacific is expected to hold considerable market share in the foreseeable future. This is due to rising consumption of the acid as a supplement, especially in the form of beverages. Moreover, health conscious consumers in countries such as Japan are adopting diets to prevent nutritional deficiency. Such measures by consumers ensure steady demand for the product.
Competitive Landscape
Growing Investment by Market Leaders to Expand Their Business Horizon
The market for food grade hyaluronic acid is fragmented by the presence of several major companies. Moreover, stringent regulatory scenarios in most of the leading economies intensify the company stability with constant updates and quality checks required to maintain standards. The growing investment in this market is expected to substantially boost this industry and give lucrative returns. Prominent players are focused on technological innovation by investing in research and development.
List of Key Players Profiled in the Market:
• Freshine Chem
• Stanford Chemicals
• Baoding Faithful Industry Co.ltd
• Liuzhou Shengqiang Biotech Co. Ltd.
• Hydrolyzed Collagen Peptides
• TransChem Pty Ltd
• Cellbone Technology Inc
• Shijiazhuang Lateen Chemical Co., LTD.
• Contipro a.s.
• ALB Technology Limited.
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