Newark, Feb. 21, 2023 (GLOBE NEWSWIRE) -- Brainy Insights estimates that the glucuronolactone market will grow the USD 388.07 million in 2022 and reach USD 593.76 million by 2030. In just eight years, the growing adoption of glucuronolactone from different end-use industries like pharmaceuticals and food & beverages is also helping to drive market growth. Further, rapid advancements in the healthcare and medical sector, the increasing prevalence of chronic diseases, along the high adoption of the latest techniques & tools are also anticipated to drive market growth during the forecast period.
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Key Insight of the Glucuronolactone Market
North America to account for the largest market size during the forecast period.
North America is expected to have the largest market share in the glucuronolactone market. Key factors favoring the growth of the glucuronolactone market in North America include the increasing demand for energy nutritional & drinks supplements, the presence of leading beverage manufacturers, increased health awareness, changing customer behaviour for embracing new goods, and increased consumption among millennials also helping to propel the market growth in this region.
The energy supplements segment is expected to augment the glucuronolactone market during the forecast period.
The energy supplements segment held the largest market share in 2022 and is expected to continue during the forecast period owing to the consumers' changing lifestyles and consumption patterns. Also, using glucuronolactone as a detoxifying agent in functional beverages is helping to boost the segment's market growth.
The powder segment market size is 163.95 million in 2022
The powder segment is anticipated to dominate the market over the forecast period owing to the rising consumer health consciousness. Further, by 2030, the liquid segment will likely dominate the market due to the excessive use of health supplements and drinks.
The pharmaceutical segment is anticipated to dominate the market by 37.04% in 2030
The pharmaceutical segment is anticipated to dominate the market in the forthcoming years, owing to the increasing concerns regarding health disorders. Further, by 2030, the energy drinks segment will likely dominate the market due to the rising demand for healthy energy drinks. However, the energy drink refers to a beverage containing high levels of a stimulant component, usually caffeine and sugar and frequently supplements, such as carnitine and vitamins. It is encouraged as a product that enhances mental alertness and physical performance. Additionally, the ingredients in energy drinks can vary significantly from one product to another.
Also, most energy drinks contain some combination of caffeine, B vitamins, sugar, and amino acids.
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Advancement in market
For example, on May 2022, Pro Boost, a brand-new 2 FL OZ (60 ml) zero-sugar, zero-calorie energy supplement drink, contains glucuronolactone, that was introduced by Performance Drink Group, Inc., an increasing force in the production of innovative energy drinks and sports nutrition.
Market Dynamics
Driver: The rising investments in the pharmaceutical sector:
The rising concern regarding health disorders among consumers in Japan, India, China, and the U.S., is propelling the market growth. Further, the increasing demand from bodybuilders and athletes, the growing geriatric patient pool, and the rising old age population coupled with the deskbound working lifestyle is expected to boost the market growth over the forecast period. However, a change in customer lifestyle and a rise in awareness toward health wellness products are also driving the market growth.
Restraint: The presence of unhealthy ingredients:
The high glucuronolactone prices and different adverse impacts of excessive glucuronolactone intakes, like disorientation, dizziness, and fast heartbeat, are expected to hamper the market growth. Furthermore, the launch of expensive drugs and treatments and increasing regulations regarding safety and approvals are inhibiting market growth during the forecast period.
Opportunity: The increasing integration of AI in medical procedures and equipment:
IoT, ML, and AI integration in medical procedures and equipment drive market growth. Further, the ever-increasing incidence of acute & chronic illnesses & lesser access to progressive medical facilities owing to low disposable income levels is helping to boost the market growth. Moreover, the ongoing research & development coupled with innovation, the rapid increase in the consumption of packaged food across the globe, rising food consumption, along with rapid growth in urbanization are expected to drive the market growth during the forecast period. Additionally, the high adoption of home care settings, point-of-care diagnostics, and rising awareness of glucuronolactone in prescription drugs for treating bone disease, hepatitis, and collagen disease are stimulating the market growth during the forecast period.
Some of the major players operating in the glucuronolactone market are:
• Hubei Yitai Pharmaceutical Co.Ltd.,
• Anhui Fubore Pharmaceutical & Chemical Co.Ltd.
• Shaoxing Marina Biotechnology Co.Ltd.
• Merck Millipore Corporation
• Jungbunzlauer
• Functional Food chem International Corporation
• Ceto Corporation
• Shandong Fuyuan Bio-Tech CO.LTD.
• Shandong Xinhong Pharmaceutical Co., Ltd.
• Roquette Frères
• Creative Compound
• Foodchem International
• Shandong Baisheng Biotechnology Co., Ltd.
Key Segments cover in the market:
By Application:
• Processing Aids & Additives
• Preservatives
• Energy Supplements
• Antioxidants
• Others
By Type:
• Liquid
• Powder
• Tablet/Capsule
By End-User:
• Energy Drinks
• Dietary Supplements
• Pharmaceuticals
• Functional Food
• Cosmetics
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Million). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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