Ellagic Acid Market : Overview
The global demand for ellagic acid witnessed a massive downfall in the first half of 2020 on account of lockdown and social distancing barriers implemented due to the spread of coronavirus disease throughout the world. Big as well as small manufacturing companies went through the worst phase and suffered heavy losses in 2020. To overcome the previous losses, business firms in 2021 are focusing on research and developments to ensure uniqueness in their services.
Recognized corporations are adopting business strategies such as sales contracts, strategic alliances, acquiring technical expertise, product approvals, patents and events, joint ventures, partnership agreements, collaborations, digital marketing, mergers and acquisitions, capacity utilisations, technological advancements etc to lead the global market for ellagic acid with largest market share. The corporations like Shanghai Kanwinn Pharmchem Ltd., Baoji Runyu Bio-Technology Co., Ltd., Otto Chemie Pvt Ltd., Xena Bio Herbals Pvt. Ltd, Arjuna Natural Pvt Ltd., Aktin Chemicals, Inc., Hale Cosmeceuticals Inc., Biomax, Plamed Green Science Group, Wuhan Vanz Pharm Inc., Nanjing Longyuan Natural Polyphenol Synthesis Factory and others are making high investments in the establishment of research institutes in different regions to come up with improvements in their offerings.
For instance, Hale Cosmeceutical Inc., a leading player in the ellagic acid market, came out with a wide range of products such as Complexion Protection Sunscreen (SPF 35). The sunscreen offers protection from sun and damage and can be used on dry, sensitive, young oily and normal skin types. The company uses only natural ingredients in its sun protection products and prevents skin from any kind of irritation. The product has been quite popular amongst consumers.
In terms of growth, the market in Europe is anticipated to hold the largest market share with a promising revenue rate during the forecast owing to the increasing organic personal care products. All developing and developed nations are predicted to pick up pace through 2030 owing to the emergence of leading manufacturing companies and new domestic players. The North America and Asia Pacific ellagic acid market is likely to show a growing trend because of the increasing disposable income. All the other key regions such as Latin America, Oceania and MEA are driving the market growth and opening various opportunities for manufacturers.
Ellagic acid Market: Introduction
Ellagic acid is a micronutrient that is known for its unique antioxidant properties. It is a naturally occurring substance, present in berries and red fruits such as blackberries, strawberries, and pomegranates. Ellagic acid has numerous properties that include skin whitening, anti-aging, anti-inflammatory etc.
Furthermore, it has anti-carcinogenic properties that prevent the development of cancer cells. The global ellagic acid market is growing in collaboration with the personal care and pharmaceutical market. For widening the scope of pharmaceuticals, Governments of various developed countries have been involved in various supportive schemes and charitable causes that promotes the growth of global ellagic acid market.
The global allegic market is consolidated with only few operating players that are implementing defensive strategies within the market.
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Ellagic acid Market: Dynamics
The personal care and cosmetic industry is the major end-user of ellagic acid, which escalates the overall growth of ellagic acid market. Owing to the growing demand for organic personal care products, the global ellagic acid consumption is set to increase in the upcoming years.
The labels “100% Organic” and “Made With Organic Ingredients” on personal care products are gaining consumer attention as they are turning towards organic and natural products so as to avoid chemical-based products. Moreover, the shift of consumer lifestyle towards “Veganism” and “Being Green” has facilitated the growth of the global ellagic market.
Emerging countries such as China, India, and Brazil have recorded healthy growth in global personal care and cosmetic sectors, which drives the ellagic acid market in these regions due to the enormous production of personal care products and increasing population pool. Besides personal care products, ellagic acid is broadly used in pharmaceutical industries for the manufacturing of investigational drugs. However, limited number of manufacturers and tight supply stand out to be the restraining factor for the global ellagic acid market.
Ellagic acid Market: Regional Outlook
The global ellagic acid market is divided into six regions including Latin America, North America, South Asia & Oceania, Europe, East Asia, and MEA. Among the regions mentioned above, Europe has the largest market for ellagic acid due to the improved living standards of the consumers and the growing demand for organic personal care products.
Moreover, North America is likely to show a similar trend as that of Europe for the global ellagic acid market due to the high disposable income in the region. Furthermore, the ellagic acid market is expected to witness steady growth in Europe and North America over the long term forecast.
Moreover, Asia Pacific region is expected to have the highest growth in ellagic acid market owing to preference for organic ingredients in personal care products and the rapid rise in population. Latin America is projected to exhibit average growth for ellagic acid market over the forecast period. The Middle East and Africa, ellagic acid markets, are expected to grow in line with the global GDP till 2029.
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Ellagic acid Market: key stakeholders
Key market stakeholders in the global Ellagic acid market are Aktin Chemicals, Hale Cosmeceuticals, Biomax, Plamed Green Science Group. The market is highly consolidated as there are a limited number of manufacturers clustered in major geographies. Some of the distributors of allegic acid include cayman chemicals, spectrum chemicals and TCI America.
The research report presents a comprehensive assessment of the Ellagic acid market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The Ellagic acid market report provides analysis and information, according to market segments such as geographies, applications and types.
Ellagic acid Market Report Covers Exhaustive Analysis On:
- Market Segments
- Market Dynamics
- Market Size & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
An Adaptive Approach to Modern-day Research Needs
Ellagic acid Market Regional Analysis Includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru)
- Europe (UK, Germany, Spain, France, RoE)
- East Asia (China, Japan, South Korea)
- South Asia (India, ASEAN
- Oceania (ANZ, Rest of Oceania)
- MEA (GCC Countries, South Africa, Turkey, Rest of MEA)
Ellagic acid report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The Ellagic acid report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The Ellagic acid report also maps the qualitative impact of various market factors on market segments such as geographies, grade and end use industry.
The Ellagic acid Market Report Highlights:
- A Detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint.
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Ellagic acid Market: Segmentation
Based on the grade, the Ellagic acid market is segmented as:
- Below 90%
- 90% - 95%
- Above 95%
Based on the end-use industry, the Ellagic acid market is segmented as:
- Personal care and cosmetics
The personal care and cosmetics segment accounts for over two third of the global ellagic acid market. On the other hand, the rise in the expenditure of pharmaceutical industries will further boost the growth of the global ellagic acid market.
Based on the region, the Ellagic acid market is segmented as:
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa (MEA)
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