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Gallic acid is a naturally occurring organic chemical compound that acts as an antioxidant. It is a form of a secondary polyphenol metabolite. It is a type of phenolic acid found in a variety of plants, including gallnuts, tea leaves, witch hazel, oak bark, and sumac. Gallic acid is an amorphous white to off-white solid that is hygroscopic in nature and water soluble. The increasing demand for this acid by most chemical and pharmaceutical sectors will help promote the sales growth of the global Gallic Acid market in the forecast period set between 2021 and 2031.
The Gallic Acid market is categorized on the basis of grade, end-use industry, and region. In terms of grade, the market is grouped into industrial grade, pharma grade, food grade, and others. With respect to end use industry, the market is categorized into paper & pulp, personal care & cosmetics, food & beverage, chemical, pharmaceutical, and others.
The report on Gallic Acid market is based on an in-depth analysis and offers qualitative and quantitative overview of the market and its drivers, restraints, challenges, and future growth opportunities. . It also throws light on the innovations that helped the market grow in terms of revenue generation. List of the players operating in this market and their efforts in the form of innovations and new product launches is also discussed in details. The impact of the novel COVID19 pandemic is also discussed in the report. For more information on this report, log on to the company website.
The nature of competition for the global market is somewhat with a handful of players. Leading players of the Gallic Acid market are using multiple strategies such as introducing innovative products to attract more revenues to the market. Other players are engaging in joint ventures and collaborative efforts with other end user industries to create revenue generation opportunities for the Gallic Acid market in the coming years.
Some of the key players of the global Gallic Acid market include:
Gallic acid is widely used in pharmacology to convey hepatoprotective and neuroprotective medicinal properties. Furthermore, ongoing research indicates that gallic acid has a promising future in the therapeutic and pharmaceutical industries. This is expected to increase the sales projections of the gallic acid market in the near future. However, the availability of gallic acid substitutes may cause hindrance to the future market. Nevertheless, the growing inclination of people towards adopting a healthy lifestyle is projected to augment the demand for gallic acid in the future market.
Geographically, this market is widespread into the regions of Latin America, Europe, North America, and the Middle East and Africa. These regions are further categorized as per the nations bringing business. North America emerged as the largest revenue generator for the Gallic Acid market owing to the increasing rate of consumption in multiple end user industries such as personal care, cosmetics, pharmaceutical, chemical, and others. On the other side, the market in Asia Pacific is projected to generate notable revenues in the forecast period on account of the rising use of gallic acid by the pharmaceutical and food making companies in the developing nations.
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Gallic Acid Market
