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.
This amorphous substance is known as gallic acid. Its colour ranges from off-white to white. It has a hygroscopic character and is soluble in water. It is an antioxidant that naturally occurs in many foods and plants, including red fruits, tea leaves, sumac, bear berries, hazelnuts, oak bark, and other species of serval. It can occasionally be found as an ester and in hydrolysable form as well. It must be stored in a dark, cool area because it is a photosensitive material.
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
Gallic acid Market: Key Trends
Market Drivers:
Rise in the Health Awareness to Boost the Growth of Gallic Acid Market:
Gradually, people have become more health-conscious and want to live healthy life along with a healthy diet. As health cognizance has been increasing, the trend for a healthy diet coupled with the natural properties of Gallic acid being anti-oxidant, anti-microbial and anti-mutagenic, the craze for food containing Gallic Acid is also on the rise.
Day by day, the knowledge about the Gallic Acid has been spreading in the market. Therefore, the demand for Gallic Acid in the general food industry is anticipated to grow as a food additive in food products, which it not found naturally. It will accelerate the progression of the Gallic Acid market.
Demand from the Healthcare and Cosmetic Industry To Accelerate the Market Growth:
Gallic acid is being used in pharmacology to communicate medicinal properties that are neuroprotective and hepatoprotective, and its anti-microbial and anti-carcinogenic qualities make it an essential intermediary. Ongoing research on Gallic Acid demonstrates an excellent future for the Gallic acid market in the therapeutic and pharmaceutical industry.
Gallic acid is widely used in the cosmetic industry, especially for the making of dyes for hair products and leather. It is immensely advantageous in the hair fashion industry in our society. The market for good leather products has constantly been expanding. The demand for good quality leather products is also on the rise, owing to the per capita income growth in developed and developing nations.
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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?
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