Gallic Acid Market: Introduction
The organic chemical compound, gallic acid is a well-known naturally occurring antioxidant that are a secondary type of polyphenolic metabolite. Besides, the natural origin of gallic acid, a large number of synthesized gallic acid are also available. Gallic acid is the most popular trihydroxybenzoic acid, and a type of phenolic acid and has found in several plants such as gallnuts, witch hazel, tea leaves, oak bark, sumac, and other plants. Gallic acid is a colorless crystalline powder occurs as a free molecule or as a part of tannin molecule. Gallic acid is used as a synthetic intermediate in the manufacturing of pyrogallols and gallic acid esters. Furthermore, gallic acid has diverse range of industrial uses across the various end-use industries such as pharmaceutical, cosmetics, food and feed, ink and dye, and paper industry among others. In the pharmaceutical industry, gallic acid is used to prepare trimethoprim sulfamethoxazole (TMP), synthesis of trimethoprim, sleep disordered breathing (SDB), and other sulfonamides. Moreover, the various other application of the gallic acid is to manufacture dyes for hair and leather products, and increasing use of gallic acid in the food industry because of its anti-carcinogenic, anti-microbial, and anti-mutagenic properties. In the food industry, gallic acid is used as an additive to formulate preservative propyl gallate.
Gallic Acid Market: Dynamics
The gallic acid market is expected to register a healthy growth rate during the forecast period. The key drivers for future market growth of gallic acid are going to be increasing demand from various end-use industries such as pharmaceutical, food, cosmetic, and inks & dyes industry. The growing levels of health-consciousness in humans across the globe for a healthy life and a healthy diet are enhancing healthy eating habits across the globe. Owing to the several natural properties in the gallic acid such as anti-microbial, and antifungal & antibacterial, among others are increasing the demand for gallic acid containing food. Moreover, application of the gallic acid to prevent and treating cardiovascular diseases and cancer, and it is also used to computing the phenol content in the various industries especially in the food and pharmaceutical industry. Such factors are projected to lay a strong base for gallic acid market growth in the upcoming years. However, the presence of alternatives of the gallic acid is expected to hampering the market growth during the forecast period.
Gallic Acid Market: Segmentation
Global Gallic acid market can be segmented on the basis of form, grade, application, end-use industry, and region.
Based on the grade, the Gallic acid market is segmented into:
Based on the application, the Gallic Acid market is segmented into:
Based on the end-use industry, the Gallic Acid market is segmented into:
Gallic Acid Market: Regional outlook
By the regional perspective, North America is projected to register healthy growth and estimated to hold a dominant share in the global gallic acid market during the forecast period, owing to increasing consumption across the various end-use industries such as pharmaceutical industries for cancer and cardiovascular prevention and treatment. The Asia Pacific is estimated to hold significant share and witness prominent growth in the global gallic acid market during the forecast period. China is prominent producer of the gallic acid across the globe. Growing gallic acid consumption in the food and pharmaceutical industry across the Asia Pacific are projected to making them one of the most lucrative region in the global gallic acid market in the near future. Europe is expected to witness steady growth in the global gallic acid market owing to rising demand for packaging food and advanced and innovative pharmaceutical development for various diseases because of its several natural properties likely anti-fungal, anti-microbial, etc. Moreover, the Middle East & Latin America are estimated to witness moderate growth in the global gallic acid market during the forecast period, owing to growing food and ink & dye industry across those regions.
Gallic Acid Market: Market participants
Some of the key market players involved in the Gallic Acid market are:
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The report covers exhaustive analysis on:
Regional analysis includes:
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on market segments and geographies.