Market leaders must lay greater strategic emphasis on R&D, capacity expansion, regional presence, and product portfolio development through mergers and acquisitions
DUBAI, UAE / ACCESSWIRE / February 18, 2020 / Global glucuronolactone market is poised for steady growth at a CAGR of ~4% during the forecast period (2019-2029). Augmented demand in flourishing food and pharmaceutical industries is to be ascribed for this growth projection. Glucuronolactone-based supplements have gained noteworthy momentum owing to enhanced consumer sentience regarding health concerns, says the FMI analyst.
"Food and pharmaceutical industries continue to hold majority share in glucuronolactone market. While developed regions such as Europe and North America account for substantial demand, East Asia will witness significant growth in glucuronolactone market," forecasts the FMI report.
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Key Takeaways of Glucuronolactone Market Study
- Grade 0.99 glucuronolactone continues to capture leading market share.
- Dietary supplements to remain preferred form of glucuronolactone intake by consumers, with energy drinks closing in.
- Functional food industry will propel demand for glucuronolactone through 2029.
- North America will generate remunerative opportunities in global glucuronolactone market.
- The profit pool is primarily concentrated in food & beverages industry.
Glucuronolactone Market - Top Growth Drivers
- Long-standing ban on glucuronolactone has been lifted by prominent countries thereby driving consumption.
- Increased per capita expenditure on cosmetics and personal care products is bolstering market growth.
- Consumers in developed countries increasingly favour glucuronolactone containing supplements which is a significant growth engine.
- Glucuronolactone usage as a flavoring and emulsifier agent is generating demand in cereals and bakery segments.
Glucuronolactone Market - Key Restraints
- Growing adulation of plant-based products amongst consumers is a major roadblock for glucuronolactone market growth.
- Excessive intake of glucuronolactone-based supplements can be life-threatening for consumers thereby restraining market growth.
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Some of the key market players profiled in the report include, but are not limited to, Foodchem International Corporation, Living Essentials Marketing, Serious Nutrition Solution, Red Bull GmbH, Merck Millipore Corporation, Roquette Frères, Monster Energy, LiveLong Nutrition, and Anhui Fubore. Mergers and acquisitions are the key developmental strategies being adopted by leading market players. For instance, Sigma-Aldrich was acquired by Merck Millipore Corporation which allowed the latter to expand its foothold in Asian and North American markets. On the other hand, Crest Cellulose was acquired by Roquette Frères (2018) which fortified the market positioning of both companies in pharmaceuticals and cosmetics industries.
More about the Report
The 250-page study offers an in-depth market forecast and analysis on glucuronolactone market. The major categories encompassed by the report include grade (0.97, 0.985, 0.99, 1.01, 1.02), end-use (functional food, energy drinks, cosmetics, pharmaceuticals, dietary supplements) across seven regions (Middle East & Africa, Oceania, Europe, Latin America, South Asia, East Asia, North America).
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