Gluconolactone market is flourishing owing to the major use in food and beverage industry. Europe and North America are continuously standing on the pedestal in terms of consumption and growth.
DUBAI, UAE / ACCESSWIRE / September 30, 2020 / The gluconolactone market earns a major part of the revenue from the food and beverage industry with grade/purity holding a dominance of 87.4% share. Manufacturers in China are into a research of minimizing waste in the production of Ethylene oxide which has thereby paved a path for opportunities in the market.
"With the noticeable expansion of food and beverage industry, rising consumption of energy drinks among the youngsters and popularity of cosmetic industry, there has been a tremendous surge in demand for gluconolactone across the globe," says the FMI Analyst.
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Gluconolactone Market – Key Highlights
- The consumption of energy drinks is more among Polynesian teenagers than in Europeans adolescents.
- The global gluconolactone market is expected to grow at a rapid pace in North America and Europe will witness significant growth due to rising consumption of tofu and meat.
- On the basis of end-use, food industry (curing/pickling and pH agent) holds 87.4% share in the market.
- On the basis of region, North America stands as the largest shareholder on the grounds of consumption.
Gluconolactone Market – Driving Factors
- The rising consumption of energy drinks, dietary supplements and usage as flavouring or colouring agent has surged the demand for gluconolactone.
- Popularity of K-beauty and J-beauty among the global cosmetic industry has propelled the demand for gluconolactone.
- A milestone opportunity has been created by China as they have exemplified the possibility of minimizing waste in Ethylene Oxide process.
- The wide consumption of tofu and meat has been noticed in Europe and North America, thereby surging the demand in these regions.
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Gluconolactone Market – Key Restraints
- Due to the harmful impacts on environment and greater waste production, market might contract in the upcoming years.
- Limited supply and production acts as a hindrance for the market to expand globally.
Expected Impact on Market by Coronavirus Outbreak
Strict lockdown and social distancing is likely to reduce the production of gluconolactone. Largest producers: North America and Europe will cut the expansion to save the environment and reduce waste production thereby shifting towards a hygienic lifestyle. The demand for energy drinks might increase but it will take time for gluconolactone market to revive into pre-pandemic situations.
Competitive Landscape
Key players in the market include Shaoxing Marina Biotechnology Co.Ltd., Merck Millipore Corporation, Foodchem International Corporation, Anhui Fu bore Pharmaceutical & Chemical Co.Ltd., Jungbunzlauer and Roquette Frères etc.
Companies take up unique strategies to expand their market and gain profit. For an instance, Roquette Frères acquired Crest Cellulose in 2018 and expanded cosmetic industry by manufacturing plant-based ingredients.
Merck Millipore Corporation acquired Sigma-Aldrich in 2014, to expand its reach in life-science industry.
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More on the report
This report presents an analysis on the basis of segments including grade (greater than 97%, greater than 98.5%, greater than 99%), end-use (food, pharmaceuticals, dietary supplements etc.) and region ( North America, Europe, South Asia etc.)
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