Global Gallic Acid Market Size is USD 76.49 Million in 2021 and is Projected to Reach a Valuation of USD 150.37 Million by the End of 2030, with an Annual Development Rate (CAGR) of 7.80% from 2022 to 2030 It has been.
Global Gallic Acid Market-Overview
Gallic acid, also called 3,4,5-trihydroxybenzoic acid, is trihydroxybenzoic acid.It is delegated as a phenolic acid and is found in galnuts, sumac, witch hazel, tea leaves, oak bark, and other plants. Salts and esters of gallic acid are called “gallates”
Key Market Trends – Growth Determinants and Constraints
This market is expected to register a healthy rate of development during the period shown. An important driver of the future market development of gallic acid is the increasing demand from various end-use companies such as pharmaceutical, food, cosmetics, ink and dye industries. The growing health awareness of people around the world for healthy living and healthy eating habits is improving healthy eating habits around the world.
Growing awareness of strong living and expanding healthy eating patterns are driving this market. Similarly, growing awareness of gallic acid among purchasers is expected to increase interest in gallic acid throughout the food industry.
Gallic acid is inherently utilized in pharmacology to convey restorative properties that are hepatoprotective and neuroprotective. Besides, constant research activities show a promising perspective of gallic acid in the pharmaceutical and therapeutic industries. This is projected to drive the expansion of this market in the coming years. Either way, the accessibility of gallic acid selection will likely hamper the market in the near future.
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Global Gallic Acid Market Segmentation Analysis
based on type
- food grade gallic acid
- Pharmaceutical grade gallic acid
- industrial grade gallic acid
Pharma Grade defines a global gallic acid that can be inferred from the use of gallic acid as a standard for determining phenolic content in pharmaceutical studies.
based on application
- medical use
- biological activity
- Food additive
Antioxidants lead the market due to the growing popularity of gallic acid from the pharmaceutical and food industries.
based on end user
- cosmetics and personal care
- ink and dye
- food and feed industry
- electronic industry
- Paper industry
The pharmaceutical segment is valued to hold a sizeable share of the market during the forecast period.
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North America is expected to hold the largest market share
North America, Europe, Latin America, Asia Pacific, Middle East, and Africa are the major regions that make up the geographic landscape of the global gallic acid market. North America is expected to develop positively and is assessed to hold a general offer in this market during the estimated period. This is due to its growing usage across a variety of end-use companies, including pharmaceutical ventures for cancer and cardiovascular prevention and treatment.
Major players in this market are Wego Chemical Group, GALLOCHEM, CDH Fine Chemicals, TCI Chemicals, Sigma Aldrich, Cayman Chemicals, Jiurui Biology, Bei Yuan Chemical, Hunan Linong, Tianxin Biotech, Xiangxi Gaoyuan, Chicheng Biotech, JPN Pharma, Hunan Shineway is. , WENZHOU OUHAI, EMBL-EBI, LKT Laboratories, MedChemExpress, and Hubei Tianxin Biotech Co,Ltd.
The global gallic acid market is expected to increase at a significant rate during the period of the figure, somewhere between 2022 and 2030. The market should rise above the projected skyline.
Key questions answered in this report
- What is the growth rate of this market?
- What are the key growth determinants of this market?
- Which major regions comprise the geographical landscape of the global Gallic Acid market?
- What prominent companies are active in this market?
Key points from the report-
- The global gallic acid market will grow at a CAGR of over 7.80% from 2022 to 2030.
- Growing awareness of strong living and expanding healthy eating patterns are driving the global gallic acid market.
- North America holds the largest market share in this market.
- The pharmaceutical segment is valued to hold a sizeable share of the market during the forecast period.
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