Global Glucuronolactone Market is expected to reach USD 436.5 million by 2024. Glucuronolactone is also termed as “D-glucuronolactone” or “D-glucuronic acid” is an organic metabolite found in the body. This solid white odorless compound is a major component in energy drinks and stimulants such as Red Bull. It is formed in the human body when glucose is converted in the liver. It is a water-soluble crystalline component in several connective tissues in the body like cartilage, tendons, and ligaments. The glucuronolactone market is estimated to grow at a significant CAGR over the forecast period as the scope and its applications are rising enormously across the globe.
Growth Drivers:
The factors that are playing a major role in the growth of glucuronolactone market are rising awareness regarding healthy lifestyle and growing demand from pharmaceutical and food & beverage industry. However, the side effects of glucuronolactone on health may restrain overall market growth in the years to come. Glucuronolactone market is segmented based on product type, application, and region.
Top Comapnies:
The key players of glucuronolactone industry are Shaoxing Marina Biotechnology Co., Ltd., Aceto Corporation, Merck Millipore Corporation, Anhui Fubore Pharmaceutical & Chemical Co., Ltd., Hubei Yitai Pharmaceutical Co., Creative Compounds, LLC, and Foodchem International Corporation. These players are concentrating on inorganic growth to sustain themselves amidst fierce competition.
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Product Outlook:
Liquid, powder, tablet, and other product types could be explored in glucuronolactone in the forecast period. Liquid and powder sector accounted for the majority market share of glucuronolactone and is estimated to lead the overall market in the years to come. The reason could be excessive use in health supplements and drinks and rising health awareness among the populace.
Application Outlook:
The market may be categorized based on applications like food & beverage, pharmaceuticals, and others that could be explored in the forecast period. Food & beverage sector accounted for the substantial market share of glucuronolactone and is estimated to lead the overall market in the years to come. The reason could be high usage as an active ingredient in health-related foods and energy drinks. Also, the pharmaceutical sector is estimated to grow at the highest CAGR in the years to come as growing concern regarding health disorders.
Regional Insights:
Globally, North America accounted for the significant market share of glucuronolactone and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be rising acceptance of glucuronolactone as nutritional supplements. The United States is a major consumer of glucuronolactone in this region.
Europe and the Asia Pacific are also estimated to have a positive influence on future growth. Europe is the second largest region with significant market share. Also, the region is estimated to grow at the highest CAGR in the forecast period. The aspects that may be ascribed to the growth comprise the rising awareness of glucuronolactone in prescription drugs for the treatment of bone disease, hepatitis, and collagen disease. England and Germany are the major consumers of glucuronolactone in this region.
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