Pyruvic acid is extensively used in medicines and other edible products. The global pyruvic acid market was worth US$1230 mn in 2018 and the report suggests that the market will reach US$1560 mn by 2025 at a robust CAGR of 3.4%.
The team of QY Research analysts has published a detailed report of the market, titled “Global Pyruvic Acid Market Report, History and Forecast 2014-2025, Breakdown Data by Manufacturers, Key Regions, Types and Application.”
Global Pyruvic Acid Market: Drivers
Pyruvic acid is mainly used for pharmaceuticals, daily chemicals, and food additives. Growing consumer preference for healthier food products has driven the pyruvic acid market. Influenced by the continuous development of the chemical industry, the usage of pyruvic acid has diversified. One of the most important ingredients of weight loss and obesity medicines and health food and drinks is pyruvic acid. Thus, health management and demand for wellness products is expected to boost market growth. This acid is also used in its different medicines to treat high cholesterol, cataracts improving athletic performance, and even cancer. Pyruvic acid is also used for production of anti-aging products to reduce skin wrinkles and other signs of aging.
Global Pyruvic Acid Market: Segment Analysis
The global pyruvic acid market is segmented on the basis of type and application. In terms of type, the market is segmented into chemical synthesis and bio synthesis. In terms of application, the market is segmented as pharmaceuticals, food additives, daily chemicals, and others. Among them, pharmaceuticals and food additives are most lucrative segments of the global market.
Global Pyruvic Acid Market: Regional Analysis
On the basis of region, the global pyruvic acid market is segmented into Latin America, North America, Asia Pacific, Europe, and the Middle East and Africa. Europe, North America have a good scope for the market and Asia Pacific is one of the most promising regions to flourish in the future.
Global Pyruvic Acid Market: The Key Players
The key players studied in the global pyruvic acid market are Toray, Musashino, Tianjin Shengdao Technology, Minakem, Shanghai Jinli Bio-tech, Fleurchem, and Zhoucun Dongfang Chemical.
With the target of expansion and make a bigger name the global pyruvic acid market key players takes different steps. For example, Minakem is building a lab for cytotoxics which is used in antibody-drug conjugates. The site is in Louvain-la-Neuve, Belgium, where it is also installing a high-performance liquid chromatography column. The company plans a number of acquisitions and a recent report suggests that it may acquire R&D or pilot manufacturing assets in the U.S. as well.
Full Report Overview@ https://www.qyresearch.com/index/detail/1052708/global-pyruvic-acid-market