The glucuronolactone market is predicted to be worth US$ 120 million in 2023, rising to US$ 256.2 million by 2033. Glucuronolactone sales are predicted to grow at a considerable CAGR of 8.0% during the forecast period.
The chemical is used as a precursor in the manufacture of vitamin C, which drives industrial growth. In the human body, glucuronolactone is quickly converted and metabolised.
Because of its varied applications in the food and beverage, pharmaceutical, and cosmetic industries, the Glucuronolactone Market is steadily developing. Glucuronolactone, a natural chemical produced in the body, is known for its energising and detoxifying properties. Demand is being driven by the increased emphasis on health and well-being, which is contributing to market expansion.
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The market will be driven by increased demand for instant energy-releasing goods such as Monster, Rockstar, and Red Bull over the projected period. Continuing research and development, together with innovation, is likely to provide new market opportunities over the forecast period.
Key Takeaways from Market Study
- The market is segmented based on form, wherein powder segmented is anticipated to account for a significant share in the global market in 2022, but tablet & capsule is expected to witness a lucrative growth rate of 7.8% during the forecast period.
- The North American glucuronolactone market is anticipated to dominate the global market with a market share of around 34.8% in 2022, but East Asia is expected to witness a lucrative growth rate during the forecast period.
- On the basis of end-use, dietary supplements and energy drinks combinedly dominate the global market in 2022, but cosmetics are expected to witness a lucrative growth rate over the forecast period.
“The manufacturers in the global market have obtained high-quality technical know-how, broad geographic reach with localized teams, additional service portfolios, and industry expertise. These assets have allowed the manufacturers to quickly grow into a truly global provider offering end-to-end capabilities and leveraging best-in-class solutions, with a brand for high-quality service delivery.” says a Future Market Insights analyst.
Competitive Landscape
Global players anticipate an increase in demand for gluconolactone, primarily from consumers of energy drinks and dietary supplements. Key players are expected to continue expanding their production capacities and improving capabilities by incorporating cutting-edge technologies. The gluconolactone market has grown significantly, owing to increased awareness about the role of gluconolactone in various metabolic activities and the health risks associated with gluconolactone deficiency.
Explore More Valuable Insights
Future Market Insights, in its new report, offers an impartial analysis of the global glucuronolactone market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
The study offers compelling insights based on the form (powder, liquid, and tablet & capsule), and by end-use (dietary supplement, energy drinks, pharmaceuticals, cosmetics, functional food), across seven major regions of the world.
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