Analysis of Gallic Acid Market Size by Research Nester Reveals the Market to Grow with a CAGR of ~8% During 2023-2036 and Attain ~USD 180 Million by 2036
Research Nester assesses the growth and market size of the global gallic acid market which is anticipated to be on account of the rising consumer awareness towards natural and organic food globally.

New York –February 11, 2024- Research Nester’s recent market research analysis on “Gallic Acid Market: Global Demand Analysis & Opportunity Outlook 2036” delivers a detailed competitors analysis and a detailed overview of the global gallic acid market in terms of market segmentation by type, application, end-user, and by region.

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Rising Usage of Gallic Acid as Astringent in the Cosmetic Industry to Promote Global Market Share of Gallic Acid Market

The global gallic acid market is estimated to grow majorly on account of the remarkable health benefits of the product. The gallic acid occurs naturally and has antioxidant properties and a polyphenolic metabolite. The sources of gallic acid are strawberries, cashews, gallnuts, hazel, tea leaves, oak bark, sumac, etc. The compound offers numerous beneficial properties such as antifungal, anti-microbial, and anti-bacterial properties. Due to this, the compound is widely used as a synthetic intermediate for manufacturing pyrogallols and gallic acid esters. Also, the compound finds its application in antioxidants, biological activity, reagents, and food additives. Furthermore, gallic acid is widely used in making beauty products. For instance, it has been observed that gallic acid is used as a cosmetic ingredient and can considerably improve the brightness of the skin. Also, gallic acid is widely used in astringents due to its cleansing effects. It has been surveyed in the year 2023, that almost 4.34 million Americans use astringent toners. Hence, the rising usage of astringent globally is fueling the global gallic acid market during the forecasted period. Other than this, the rising demand in the pharmaceutical industry is expected to propel the growth of the global gallic acid market. The gallic acid is proven to show cytotoxicity against cancer walls, without causing any harm to healthy cells. In fact, the gallic acid is used to treat diabetes, albuminuria, cardiovascular maladies, hepatitis C, HCV infection, inflammation, and neurological disorders, etc. These factors are also projected to bolster the global gallic acid market during the forecast period.

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Some of the major growth factors and challenges that are associated with the growth of the global gallic acid market are:

Growth Drivers:

Increasing Demand for Gallic Acid in Healthcare Industry
Rise in Usage as Anti-Obesity Component
Challenges:

Lack of availability of gallic acid, demand & supply gap for the product, and rising requirement for substitute products are some of the major factors anticipated to hamper the global market size of global gallic acid market.

By end user, the global gallic acid market is segmented into cosmetics and personal care, pharmaceutical, ink & dye, food & feed industry, electronic industry, paper industry. Out of these, cosmetic & personal care segment is expected to garner significant growth and hold a revenue of almost 45% by the end of year 2036. The growth of the segment is prominent due to the rising use of gallic acid in cosmetic components all across the world.

By region, the Europe gallic acid market is to generate the highest revenue by the end of 2036. The growth of the market in the region can be attributed to rising awareness amongst the people regarding the product.

This report also provides the existing competitive scenario of some of the key players of the global gallic acid market which includes company profiling of Wego Chemical Group, GALLOCHEM Co., Ltd., CDH Fine Chemicals, TCI Chemicals, Sigma Aldrich, Cayman chemicals, Jiurui Biology, Bei Yuan, Chemical, Hunan Linong, Tianxin Biotech, Air Liquide Japan G.K, Air Water Performance Chemical Inc., Adeka Corporation, Celanese Japan Limited

Access our detailed report at: https://www.researchnester.com/reports/gallic-acid-market/5724