The growing healthcare and pharmaceutical industries, coupled with the popularity of energy drinks and supplements will be the major factors influencing the market growth.
The global glucuronolactone market is expected to reach USD 465.2 Million by 2028, according to a new report by Reports and Data. This can mainly be associated with the growing healthcare and pharmaceutical industries, coupled with the popularity of energy drinks and supplements.
The high usage of chemical or metabolite in food & drug poisoning, hepatocirrhosis & hepatitis as well as the adjuvant drugs for curing of rheumatoid arthritis will encourage market growth over the forecast period. The product is also used as a predecessor in the synthesis of vitamin C, which will push the expansion of the market. It is simultaneously converted and metabolized into non-toxic components as it enters the body.
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Further key findings from the report suggest
* The market is segmented on the basis of product type into powder, liquid and tablet/capsule.
* The powder segment dominated with ~40% of the market share in 2020.
* Glucuronolactone powder is used excessively in health drinks and supplements, which are generally consumed by athletes, sportsmen and gym professionals.
* The liquid segment held the second largest market share of ~35% in 2020.
* The market is segmented on the basis of application into preservatives, antioxidants, processing aids & additives, energy drinks & supplements, and others.
* The energy drinks & supplements segment dominated with ~32% of the market share in 2020, due to the changing lifestyles and consumption pattern of the consumers.
* The fact that energy drinks are becoming more of a status symbol, especially among the youth, is forecasted to drive the growth of the energy drinks & supplements segment.
* The market is segmented on the basis of industry verticals into food & beverages, healthcare & pharmaceuticals, and others.
* The healthcare & pharmaceuticals segment dominated with ~54% of the market share in 2020, owing to the growing concerns regarding health disorders, coupled with the increasing old age population.
* The market is segmented on the basis of geography into North America, Europe, Asia Pacific, Latin America, and MEA.
* North American region dominated with ~40% of the market share in 2020, owing to the presence of the key end-user industries in the region. Some of them being Rockstar Inc, Red Bull, and Monster.
* The Europe region held the second largest share of ~28% of the market in 2020.
North America is the largest market for healthcare, followed by Asia-Pacific, Western Europe and then the other regions. Due to favorable regulations and policies in these regions, healthcare industry is rapidly growing. As the market in developed countries is nearly saturated, market players have shifted their focus toward the developing regions, especially the emerging economies of Asia Pacific.
The prominent factors favoring market growth include increasing launches and initiatives by the market players to provide rapid treatment for addressing the diseases of the patients in the healthcare industry. Market-trend-based strategies for the healthcare market include increasing the adoption of bundled payments, using digital tools, increasing collaborations across industries and companies, focusing on the development of new medicines, and adopting hybrid imaging technology. Players adopted strategies in the healthcare industry include acquiring companies in similar industries to expand their presence and focusing on offering quality products and services.
The competitive landscape section of the report discusses in detail the company overview, product and services portfolio, business expansion plans, production and manufacturing capacity, financial standing, and global market position. It further sheds light on the recent mergers and acquisitions, collaborations, partnerships, corporate and government deals, agreements, and product launches.
Top companies operating in the market and profiled in the report include:
Shaoxing Marina Biotechnology Co.,Ltd., Hubei Yitai Pharmaceutical Co., Ltd, Foodchem International Corporation, Merck Millipore Corporation, Suzhou No. 5 Factory Pharmaceutical, Creative Compounds, Anhui Fubore, Shouguang Zhonghe Biochemical, and Aceto Corporation, among others.
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Further, the report segments the Glucuronolactone market on the basis of product types, applications, end-use industries, and technology among others. The report offers insights into key factors influencing the revenue growth of the segment and provides information about lucrative investment opportunities to stakeholders, investors, and clients.
Glucuronolactone Market Segmentation:
Product type Outlook (Volume, Kilo tons; 2020-2028 and Revenue, USD Million; 2020-2028)
Application Outlook (Volume, Kilo tons; 2020-2028 And Revenue, USD Million; 2020-2028)
- Processing aids & additives
- Energy supplements
Industry verticals Outlook (Volume, Kilo tons; 2020-2028 And Revenue, USD Million; 2020-2028)
- Food & beverages
- Healthcare & Pharmaceuticals
Regional Analysis covers:
* North America
o Rest of EU
* Asia Pacific
o South Korea
o Rest of APAC
* Latin America
o Rest of Latin America
* Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of MEA
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