Propyl Gallate Market By Grade (Industrial grade, Pharmaceutical grade), By End-Use Industry (Food Industry, Personal Care and Cosmetics, Adhesives, Lubricants, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global propyl gallate market was valued at $277.0 million in 2021, and is projected to reach $533.3 million by 2031, growing at a CAGR of 6.8% from 2022 to 2031.
Propyl gallate is an organic chemical compound that belongs to ester family. It is formed from the condensation process of gallic acid and propanol. It is crystalline, white, odorless, and highly soluble in water. It has a wide range of applications in various end-use industries, such as pharmaceutical, medical, food and beverages, cosmetics, and others.
Key elements such as improvement in the standard of living, positive effect of beauty and personal care products on self-esteem, and rapid shift of consumers towards luxurious and premium cosmetic brands have spurred the personal care and cosmetic industry. For instance, according to an article published by Cosmetics Europe in 2021, the personal care industry was valued at €80 billion at retail sales price in 2021. The propyl gallate acts as an excellent source of antioxidant and preservative, due to which it is extensively used in various cosmetics and skin care products, such as lipstick, foundations, cream, and others and it is also used to stabilize vitamins, essential oils, and perfumes. According to data reveled by National Library of Medicine, it states that propyl gallate currently is used as an antioxidant in a reported 167 cosmetic products at maximum concentrations of 0.1%. Propyl gallate is a Generally Recognized As Safe (GRAS) antioxidant. These factors together act as one of the key drivers responsible for the growth of the propyl gallate market.
In addition, pharmaceutical sector is growing at a rapid pace owing to rise in population, increase in R&D activities, and government initiation and investment in this sector. Furthermore, there are several key manufacturers actively engaged in the production of propyl gallate due to its widespread functionalities and application in various end-use industries. For instance, Leshan Sanjiang Biotechnology Co., Ltd. and other key players are manufacturing propyl gallate for the pharmaceutical industry. The pharmaceutical grade propyl gallate act as an antioxidant and preservative agent, owing to which it is predominantly used in the formulation of pharmaceutical products and enhances the bioavailability of active ingredients. In response to this, it is also used as an antioxidant in the formulations of fat, emulsion, and essential oils. Therefore, the demand for propyl gallate is expected to increase in the pharmaceutical industry.
However, high-cost production of propyl gallate has disturbed the overall growth of the propyl gallate market. In addition, rapid shift of consumers’ preference for natural antioxidant over synthetic propyl gallate is expected to detriment the market. In addition, several manufacturers are actively engaged in the manufacture of natural food additive over propyl gallate. Moreover, habitual use of propyl gallate may have side effects on human health, such as irritation to skin, dermal sensitizer, and irritation on eyes. For instance, according to an article published by National library of Medicine, it states that propyl gallate is a slightly toxic when it is ingested. These factors are restraining the growth of the propyl gallate in the market.
On the contrary, propyl gallate is an organic compound and antioxidant that reduces the bacterial growth in packaged food. Factors such as rise in population, increase in disposable income, advancement in food processing industry, and hectic schedule of people made them more linear towards purchasing ready to eat packaged food which in turn leads to rise in demand for propyl gallate where it is extensively used for packaging and act as a preservative for food thus, increasing the shelf life of food. Low-cost production of propyl gallate in developed and developing economies, such as China, India, and Thailand, has enhanced the demand for propyl gallate in food processing industries. This is expected to boost the demand for propyl gallate in the food packaging industry; thus, offering new avenues for the market.
The propyl gallate market is segmented on the basis of grade, end-use industry, and region. On the basis of grade, the market is categorized into industrial grade and pharmaceutical grade. On the basis of end-use industry, it is divided into food industry, personal care and cosmetics, adhesive, lubricants, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The global propyl gallate market profiles leading players that include, Alfa Aesar, Thermo Fisher Scientific, BASF SE, Gallochem Co., Ltd., Haihang Industry, HALOGENS, Impextraco, Kemin Industries, Leshan Sanjiang Bio-tech Co. Ltd., Merck KGaA, Minakem, Rexler, Sarex, TCI Ameirca, Veeprho Group, and Wufeng Chicheng Biotech Co., Ltd. The global propyl gallate market report provides in-depth competitive analysis as well as profiles of these major players
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the propyl gallate market analysis from 2021 to 2031 to identify the prevailing propyl gallate market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the propyl gallate market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global propyl gallate market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Grade
Industrial grade
Pharmaceutical grade
By End-Use Industry
Food Industry
Personal Care and Cosmetics
Adhesives
Lubricants
Others
By Region
North America
U.S.
Canada
Mexico
Europe
Spain
Italy
Germany
UK
France
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
Alfa Aesar
Thermo Fisher Scientific
BASF SE
Gallochem Co. Ltd.
Haihang Industry
HALOGENS
Impextraco
Kemin Industries
Leshan Sanjiang Bio-tech Co. Ltd.
Merck KGaA
Minakem
Rexler
Sarex
TCI America
Veeprho Group
Wufeng Chicheng Biotech Co. Ltd.
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