Global Gluconic Acid Market to Reach $1.3 Billion by 2030
The global market for Gluconic Acid estimated at US$864 Million in the year 2023, is expected to reach US$1.3 Billion by 2030, growing at a CAGR of 6.1% over the analysis period 2023-2030. Food & Beverage End-Use, one of the segments analyzed in the report, is expected to record a 6.7% CAGR and reach US$494.6 Million by the end of the analysis period. Growth in the Pharmaceuticals End-Use segment is estimated at 6.1% CAGR for the next 7-year period.
The U.S. Market is Estimated at $226.3 Million, While China is Forecast to Grow at 9.3% CAGR
The Gluconic Acid market in the U.S. is estimated at US$226.3 Million in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$303.5 Million by the year 2030 trailing a CAGR of 9.3% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.5% and 4.9% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 4.4% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$184.1 Million by the year 2030.
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