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Shikimic Acid: Introduction

  • Shikimic acid is a cyclohexanecarboxylic acid. It is an intermediate metabolite in plants and microorganisms.
  • Shikimic acid is a natural organic compound and an important intermediate in the biosynthesis of lignin. The acid is also used in the synthesis of bio-based products including aromatic amino acids (tyrosine, phenylalanine, and tryptophan) and most alkaloids of plants and microorganisms.
  • Shikimic acid is a chiral building block for the synthesis of natural compounds. It is extracted from Illicium anisatum plant.
  • Shikimic acid is used as a starting material by pharmaceutical factories in the manufacture of an anti-viral drug called Oseltamivir, which is commonly known by the name Tamiflu. It is the world’s most widely-used antiviral drug for swine flu and bird flu.
  • Shikimic acid is an important starting ingredient in several multi-step biochemical manufacturing processes found in a wide range of life forms from bacteria and fungi to parasites and plants since it is composed solely of carbon, hydrogen, and oxygen

Key Drivers and Restraints of Shikimic Acid Market

  • Shikimic acid is primarily used in the pharmaceutical industry for production of drugs. Shikimic acid is generally utilized for industrial synthesis of the antiviral drug Oseltamivir against the influenza virus that is administered to treat and prevent all the known strains of influenza virus. Rise in incidence of flu across the globe is boosting the demand for this antiviral drug. Thus, application of shikimic acid in pharmaceutical industry to produce drugs related to flu is driving the shikimic acid market.
  • Shikimic acid is also employed in the personal care & cosmetics industry as it provides antiviral, exfoliating, deodorizing, anti-acne, anti-dandruff, whitening, and moisturizing properties
  • It also regulates the amount of secreted sebum. It has antibacterial, anti-inflammatory, hair-growth stimulating, anti-aging effect, and antifungal properties.
  • Shikimic acid derivatives are also used in the agriculture industry as herbicides and antibacterial agents, as they can block the shikimate pathway in plants and bacteria without negative effect toward mammals
  • Shikimic acid is extracted from the plant Illicium Anisatum or star anise. The limited availability of this plant is expected to hinder the market in the near future.

COVID-19 Impact on Shikimic Acid Market

  • On January 30, 2020, the International Health Regulations Emergency Committee of the World Health Organization (WHO) declared the Coronavirus disease (COVID-19) outbreak a public health emergency of international concern. Originating in China, the virus has spread to at least 214 countries and territories around the world.
  • Several governments and private sector businesses are operating at a limited capacity or have ceased operations completely due to recent events surrounding the COVID-19 pandemic
  • Manufacture of various consumer goods and other products across the globe came to a halt due to the unavailability of raw materials, shortage of labor, etc. This is expected to hamper the shikimic acid market.

Asia Pacific to Hold Leading Share of Shikimic Acid Market

  • In terms of region, the shikimic acid market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • Asia Pacific is expected to hold major share of the shikimic acid market, followed by Europe and North America, during the forecast period. Illicium Anisatum, a medicinal plant, which is the key source for shikimic acid extraction is majorly available in China and Japan. Thus, easy availability of the plant in Asia Pacific is a major factor anticipated to drive the market in the region during the forecast period.
  • Rise in demand for shikimic acid in pharmaceutical and cosmetic industries in Europe owing to its application in production of drugs and personal care is expected to create lucrative opportunities for the market in the region during the forecast period
  • The shikimic market in Latin America and Middle East & Africa is projected to expand at a moderate pace in the near future. Shikimic acid is imported in countries such as Brazil, Mexico, and South Africa, due to limited presence of manufacturing companies in these countries. Rise in application of the acid in pharmaceutical and cosmetics industries in Latin America and Middle East & Africa is projected to drive the demand for shikimic acid in these regions in the next few years.

Key Manufacturers Operating in Shikimic Acid Market

The shikimic acid market was consolidated in 2020. Major players have prominent presence in developed and developing countries. Key manufacturers operating in the shikimic acid market include:

  • Sanofi
  • Guangxi Wanshan Spice
  • Manus Akttev Biopharm LLC
  • Roche Holdings AG
  • JIAHERB
  • Wuhan Dahua Weiye
  • Sichuan Xieli Pharmaceutical
  • Shanghai Pharmaceuticals
  • Dongyangguang
  • Shaanxi Hongda
  • Layn

Shikimic Acid Market: Research Scope

Shikimic Acid Market, by Type

  • Shikimic Acid (98%)
  • Shikimic Acid (99%)

Shikimic Acid Market, by End-use

  • Pharmaceutical
  • Personal Care & Cosmetics
  • Agriculture
  • Others

Global Shikimic Acid Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Shikimic Acid Market