Gallic Acid Market is Projected to Expand at a 7.7% CAGR from 2019-2026
The global Gallic Acid market is estimated to be USD 62 million in 2019 and is expected to reach USD 105 million by 2026, with a CAGR of 7.7% during the forecast period.
Gallic acid (also known as 3,4,5-trihydroxybenzoic acid) is a trihydroxybenzoic acid, a type of phenolic acid, found in gallnuts, sumac, witch hazel, tea leaves, oak bark, and other plants. The chemical formula of gallic acid is C6H2(OH)3COOH. It is found both free and as part of hydrolyzable tannins. The gallic acid groups are usually bonded to form dimers such as ellagic acid. Hydrolyzable tannins break down on hydrolysis to give gallic acid and glucose or ellagic acid and glucose, known as gallotannins and ellagitannins, respectively.
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Key Players:
Key players in the Gallic Acid market include Wufeng Chicheng Biotech Co.,Ltd, Wenzhou Ouhai Fine Chemicals Limited, Leshan Sanjiang Bio-tech Co., Ltd, Jiurui Biology & Chemistry Co.,Ltd, Guangxi Wuming Tannin Extract Factory, Xiangxi Gaoyuan Bio-technology Co.,Ltd, Hunan Linong Technology and Trade Co., Ltd, BEIYUAN, Zhushan County Tianxin, GALLOCHEM, Liupanshui Shenchi, NanJing JingZhu, and etc. Jiurui Biology is the largest manufacturer; its revenue of global market exceeded 27% in 2017.
Market Driver and Restraint
The increasing demand from food and pharmaceutical industry are some of the factors which is anticipated to drive the demand for Gallic Acid over the forecast period. Availability of synthetic substitutes is one factor can possibly act as a limitation for the development of Gallic Acid market in the forecasted period.
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Forecast by Geography
By geography, the global Gallic Acid market has been segmented into North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa. The Asia-Pacific region is the largest consumer of the global Gallic Acid market, with sales accounting for 34.33% of the world, followed by Europe and North America, accounting for 24.51% and 21.46%, respectively.
The Asia-Pacific is projected to be the fastest growing market throughout the forecast period due to the growing demand of Gallic acid from the food and pharmaceuticals industry. The major contribution from China and India is expected to augment the growth of the market in the forecast period. In addition, the growing demand for gallic acid in a variety of industries, including food, healthcare and healthcare, and biotechnology, will be the key factors driving the growth in the North America market in the coming years.
Type Segment Analysis
The type of the Gallic Acid market can be divided into Industrial Grade, Food Grade, Pharmaceutical Grade, Electronic Grade, and Other. The pharmaceutical grade dominates the global Gallic Acid owing to applications of Gallic Acid as standard for determine phenolic content of analyses in pharmaceutical products. Moreover, food grade will be fastest growing segment due to application of Gallic Acid as being anti-microbial, anti-carcinogenic, and anti-mutagenic and antioxidant will influence the global Gallic market in food industry.
Application Segment Analysis
Gallic Acid is widely used in Antioxidants, Biological Activity, Medical applications, and Other. Antioxidants will lead market due to rise in demand of Gallic Acid from Pharmaceuticals and food industry. Medical application is expected to be fastest growing market owing to property of Gallic acid as radical scavengers which have potential to preventive and therapeutic effects in many diseases, where the oxidative stress has been implicated, including cardiovascular diseases, cancer, neurodegenerative disorders and in aging. On the other hand, biological activities market will grow by application of Gallic Acid as elicit various biological activities such as antibacterial, anti-fungal, antiviral, anti-inflammatory, antioxidant, anticancer, anti-diabetic.
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Table of Content
1 Report Overview
1.1 Product Definition and Scope
1.2 PEST (Political, Economic, Social and Technological) Analysis of Gallic Acid Market
…
2 Market Trends and Competitive Landscape
3 Segmentation of Gallic Acid Market by Types
4 Segmentation of Gallic Acid Market by End-Users
5 Market Analysis by Major Regions
6 Product Commodity of Gallic Acid Market in Major Countries
7 North America Gallic Acid Landscape Analysis
8 Europe Gallic Acid Landscape Analysis
9 Asia Pacific Gallic Acid Landscape Analysis
10 Latin America, Middle East & Africa Gallic Acid Landscape Analysis
11 Major Players Profile
11.1 Wufeng Chicheng Biotech Co.,Ltd
11.1.1 Wufeng Chicheng Biotech Co.,Ltd Company Profile and Recent Development
11.1.2 Market Performance
11.1.3 Product and Service Introduction
11.2 Wenzhou Ouhai Fine Chemicals Limited
11.3 Leshan Sanjiang Bio-tech Co., Ltd
11.4 Jiurui Biology & Chemistry Co.,Ltd
11.5 Guangxi Wuming Tannin Extract Factory
11.6 Xiangxi Gaoyuan Bio-technology Co.,Ltd
11.7 Hunan Linong Technology and Trade Co., Ltd
11.8 BEIYUAN
11.9 Zhushan County Tianxin
11.10 GALLOCHEM
11.11 Liupanshui Shenchi
11.12 NanJing JingZhu
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Base Year: 2018
Estimated Year: 2019
Forecast Period: 2019 to 2026
Target Audience:
Gallic Acid manufacturers
Raw material suppliers of Gallic Acid
Distributors and resellers of Gallic Acid
Government agencies and NGOs
Gallic Acid industry associations
Product managers, Gallic Acid industry administrator, C-level executives of the industries
Market Research and consulting firms
Small and Medium-sized Enterprises (SMEs)
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