Gallic Acid market expected to grow at CAGR of 7.3% during forecast period 2019 to 2025
Published Date | 2019 February 26
According to BlueWeave Consulting, The Global Gallic Acid Market expected to grow at CAGR of 7.3% during forecast period 2019 to 2025. Owing to a wide range of industrial uses of Gallic acid including its role as standard for determining phenolic content of analyzes in pharmaceutical industry and uses of Gallic acid as source material for ink, paints and color developer.
Gallic Acid as anti-carcinogenic and anti-microbial make it an important intermediary that will drive the promising future of the Gallic acid market in the pharmaceutical and therapeutic industry. Application of Gallic Acid to make dyes for leather and hair products make dyes for leather and hair products and use of Gallic acid being anti-microbial, anti-carcinogenic, and anti-mutagenic and antioxidant in the food industry will increase the global Gallic Acid market in the upcoming year. Moreover, the use of Gallic Acid pharmacology to impart medicinal properties that are hepatoprotective and neuroprotective will boost the demand in forecast period.
Further, applications of Gallic Acid in the prevention and treatment of cardiovascular diseases and cancer, to quantify the phenol content in various analyses, especially used by the food industry and other pharmaceutical industries as well will grow the Gallic acid market in the forecast period.
Pharma Grade type of Gallic Acid market is projected to be the leading segment of the overall market during the forecast period.
Based on product type, the Gallic Acid market has been segmented into Pharma grade, Food Grade, Industrial Grade, and Electronic Grade. Pharma grade dominates the global Gallic Acid owing to applications of Gallic acid as used to examine the phenol content in various analytes, especially used by pharmaceutical industries. Moreover, it can also be used as the starting chemical for the production of hallucinogenic alkaloid Mescaline. This used in the manufacture of dyes, inks adhesives, and other chemicals. Food Grade will be the fastest-growing product type in the Gallic acid market owing to the use of Gallic acid as being anti-microbial, anti-carcinogenic, and anti-mutagenic and antioxidant in food products.
Antioxidant is projected to lead applications purpose for the use of Gallic acid during the forecast period
Based on the application, the global silicon carbide market has been segmental into Antioxidants, Biological Activity, Medical Applications, and Other. By application type, antioxidants will lead the market owing to the use of Gallic acid as an antioxidant in tea, nuts, wine, and fruit and also as a plasticizing effect on the zein‐based film; consequently, it increased film elasticity. The medical industry will be the fastest-growing market due to the huge demand of Gallic Acid for preventive and therapeutic effects in many diseases, where the oxidative stress has been implicated, including cardiovascular diseases, cancer, neurodegenerative disorders and in aging.
North America accounts for the lion’s share of the global Gallic Acid market during the anticipated period.
Based on region, the Gallic Acid market has been segmental into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America dominates the world Gallic Acid market over the forecast period owing to the major demand of Gallic Acid from Pharmaceuticals and food Industry. The Asia Pacific is projected to be the fastest-growing market throughout the forecast period due to the major demand of Gallic Acid in the food industry from China.
Global Gallic Acid Market Competitive Landscape
Companies, such as Jiurui Biology, Bei Yuan Chemical, Hunan Linong , Tianxin Biotech, GALLOCHEM, Xiangxi Gaoyuan, Chicheng Biotech, JPN Pharma, Hunan Shineway, WENZHOU OUHAI, Leshan Sanjiang, Liupanshui Shenchi, NanJing JingZhu, Guangxi Wuming are the key players in manufacturing Gallic Acid.
Explore full report with detailed TOC, “Global Gallic Acid Market, by Type (Pharma grade, food Grade, Industrial Grade, Electronic Grade), by Applications (Antioxidants, Biological Activity, Medical Applications and Other), by Region (North America, Europe, Asia Pacific, Middle East & Africa and Latin America); Size and Forecast, 2018-2025”
The in-depth analysis of the report provides the growth potential, upcoming trends, and statistics of Global Gallic Acid Market size & forecast. The report promises to provide state-of-the-art technology of Gallic Acid production and industry insights, which help decision-makers to take sound strategic decisions. Furthermore, the report also analyzes the market drivers and challenges and competitive analysis of the market.