Due to the expansion of the food and pharmaceutical industry, the demand in the glucuronolactone market is increasing. Consumes are gradually shifting towards consumption of healthy food. As a result of this the demand for dietary supplements are increasing, which in turn, fuels the demand for Glucuronolactone. The market is anticipated to rise at a CAGR of ~3.9% between 2019 and 2029, Future Market Insights foresees stable growth for the market.
Key Takeaways from the Glucuronolactone Market Study
- Newer technologies and increased attention to clean label product development will enable the glucuronolactone market exhibit high growth. In addition, leading manufacturers are now focusing on strengthening their distribution and supply base in order to ensure that products are easily available to their target customers. This could bode well for the market in the upcoming years.
- According to the report, several manufacturers are expanding their global presence through collaboration and acquisition of major regional and domestic-level players in order to strengthen its presence in global gluconolactone market. This is intended to expand their product offering and product portfolio. Manufacturers are also intending to expand their global footprint by opening new of manufacturing facilities in nations that offer lucrative growth opportunities. Currently manufactures are investing in research and development activities to boost their manufacturing capabilities in their targeted region and country.
- Among various end-use segments, the dietary supplements and energy drinks segment is currently leading the market. Owing to increasing focus on fitness, an increasing number of consumers are switching to energy drinks from carbonated drinks, which in turn, fuel demand witnessed in the Glucuronolactone market.
“Glucuronolactone market is gaining strength from various applications in the food and beverage industry. Changing lifestyle and rising health concerns are fuelling the demand for energy drinks, dietary supplements and other functional foods. Moreover, manufacturers are focus on incorporation of more advanced technologies mainly which are beneficial for health. All these will lead to higher demand for Glucuronolactone” says an FMI analyst.”
Due to the rising demand from pharmaceutical and food industries the glucuronolactone market is anticipated to show a steady rate of growth in the forthcoming period. Few years back, gluconolactone containing products such as, Red Bull, were banned in some European countries including France, Norway, and other Scandinavian countries. Since 2008, France has lifted its ban on Red Bull, and the product has appeared on the shelves of the supermarkets. The household spending of consumers in these countries is well above the developing countries and consumption of energy drinks and other beverages is higher.
The use of cosmetics and personal care products is increasing globally. The use of glucuronolactone in these products is increasing owing to the increase in research and development. These applications and the use of glucuronolactone in end-use products will result in steady growth of the glucuronolactone market. Also, the rising prices of the naturally sourced glucuronolactone in the market will increase the global value of the glucuronolactone market by 2029.
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Who is winning?
Some of the market players profiled in the report are Hubei Yitai Pharmaceutical Co.Ltd., Shaoxing Marina Biotechnology Co.Ltd., Merck Millipore Corporation, Foodchem International Corporation, Anhui Fubore Pharmaceutical & Chemical Co.Ltd., Jungbunzlauer, Roquette Frères, Shandong Fuyuan Bio-Tech CO.LTD., Shandong Xinhong Pharmaceutical Co., Ltd., Shandong Baisheng Biotechnology Co., Ltd., Red Bull GmbH, Rockstar, Inc., Monster Energy, 25.4. Living Essentials Marketing, LLC, LiveLong Nutrition, and Serious Nutrition Solution. Several leading market players are acquiring smaller businesses to expand their footprint and product portfolio. Besides this, acquisition often allows them to gain competitive advantage.
- In 2014, Merck Millipore Corporation acquired Sigma-Aldrich for US$140 per share in order to expand its global reach and increasing company presence in North America and adding exposures to in Asian Markets in its attractive life science industry.
- In 2018, Roquette Frères acquired Crest Cellulose, which is a leading manufacturer of pharmaceutical excipients. The size of company’s pharmaceutical market was ~US$ 33 billion in 2017 and it is anticipated to grow by 10% per year. Moreover, the company also expanded ‘Beauté by Roquette®’ product offering for the cosmetics market with the launch of innovative plant- based ingredients.
Get Valuable Insights into Glucuronolactone Market
Future Market Insights, in its new study provides an unbiased analysis of the global glucuronolactone market, presenting historical demand data (2014-2018) and forecast statistics for the period from 2019-2029. The study divulges compelling insights on the glucuronolactone market based on the grade (greater than 97.0 %, greater than 98.5, greater than 99%, 101.0% and 102.0%) and end use (dietary supplements, pharmaceutical, cosmetics, energy drinks and functional food) across seven regions.