The Global Gallic Acid Market size was at USD 76.49 Million in 2021, and it is predicted that it will reach a valuation of USD 150.37 Million by the end of 2030 with an annual development rate (CAGR) of 7.80% between 2022 and 2030.
Global Gallic acid Market- Overview
Gallic acid otherwise called 3,4,5-trihydroxybenzoic acid- is a trihydroxybenzoic acid. It is delegated as a phenolic acid and is found in gallnuts, sumac, witch hazel, tea leaves, oak bark, and other plants It is a white solid, despite that typically brown attributable to halfway oxidation. Salts and esters of gallic acid are named “”gallates
Key market trends- Growth determinants and restraints
This market is supposed to enrol a healthy development rate during the figure time period. The vital drivers for future market development of gallic acid will be expanding request from different end-use enterprises like drug, food, cosmetic, and inks and dyes industry. The developing level of health awareness in people across the globe for a healthy life and a healthy eating regimen are improving healthy eating habits across the globe.
Ascend in awareness about strong way of life and expansion in pattern of healthy dieting are driving this market. Expansion in awareness about gallic acid among purchasers is likewise expected to help the interest for gallic acid in the overall food industry.
Gallic acid is essentially utilized in pharmacology to convey restorative properties that are hepatoprotective and neuroprotective. Besides, constant research work demonstrates a promising viewpoint for gallic acid in the pharmaceutical and therapeutic industries. This is projected to expand this market in the following couple of years. In any case, accessibility of choices of gallic acid is probably going to hamper the market in the near future.
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Segmentation Analysis of Global Gallic acid Market
Based on type
- Food grade Gallic acid
- Pharma Grade gallic acid
- Industrial Grade gallic acid
Pharma Grade rules the global Gallic Acid inferable from utilizations of Gallic Acid as standard for determine phenolic content of investigations in drug items.
Based on application
- Medical application
- Biological activity
- Antioxidants
- Food additive
- Reagent
Antioxidants will lead market because of ascend popular of Gallic Acid from Pharmaceuticals and food industry.
Based on end-user
- Cosmetics and personal care
- Pharmaceuticals
- Ink and dye
- Food and feed industry
- Electronic industry
- Paper industry
Pharmaceutical segment is assessed to hold the substantial share of the market during the forecast period.
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North America is anticipated to hold the largest market share
North America, Europe, Latin America, Asia Pacific, and Middle East and Africa are the major regions constituting the geographical landscape of Global Gallic acid Market. North America is anticipated to enlist positive development and assessed to hold a prevailing offer in this market during the estimate time period, attributable to expanding utilization across the different end-use enterprises like drug ventures for cancer and cardiovascular prevention and treatment.
Competitive Landscape
The Key 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, WENZHOU OUHAI, EMBL-EBI, LKT Laboratories, MedChemExpress, and Hubei Tianxin Biotech Co,Ltd.
Major development
The Global Gallic Acid market is expected to increase at a significant rate during the figure time period, somewhere in the range of 2022 to 2030. In 2020, the market is developing at a consistent rate and with the increasing reception of systems by key players, the market is supposed to ascend over the projected skyline.
Major questions answered in this report
- What is the growth rate of this Market?
- What are the primary growth determinants of this Market?
- Which are the major regions constituting the geographical landscape of Global Gallic acid Market?
- Which are the prominent companies operating in this Market?
Key takeaways from the report-
- The Global Gallic acid Market register a CAGR of more than 7.80% from 2022 to 2030.
- Ascend in awareness about strong way of life and expansion in pattern of healthy dieting are driving the global gallic acid market.
- North America holds the largest market share in this market.
- Pharmaceutical segment is assessed to hold the substantial share of the market during the forecast period.
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