The global gallic acid market size is projected to grow at an impressive rate owing to the increasing prevalence of cancer around the world, observes Fortune Business Insights™ in its report, titled “Gallic Acid Market Size, Share & Industry Analysis, By Grade (Industrial Grade, Pharmaceutical Grade, Food Grade, Others), By Application (Medical Application, Biological Activity,, Food Additive, Reagent), By End Use Industry (Cosmetics & Personal Care, Pharmaceutical, Ink & Dye, Food & Feed, Electronics, Paper) and Regional Forecast, 2020-2027”. According to the International Agency for Research on Cancer (IARC), part of the World Health Organization (WHO), the global cancer burden in 2018 stood at 18.1 million new cases and 9.6 million deaths. Gallic acid, a natural polyhydroxy phenolic compound commonly found in various foods, has proven to be highly effective in inhibiting the proliferation of cancer cells in the body, as per latest research. For example, a study published by Cancer Cell International in January 2020 showed that when cancer cells were exposed to low-level laser and then gallic acid, their survival rates in the were significantly reduced. Similar conclusions were reported for melanoma as well.Thus, rising incidence of cancer worldwide is likely to fuel the demand for gallic acid and drive the market.
COVID -19 Impact
The COVID-19 contagion is spreading at an alarming rate around the globe. The pandemic has wreaked global havoc and has generated uncertainty and apprehensions across the global economic spectrum. Governments and private entities alike are pulling all stops to wade their countries out of this crisis, while the private sector is exploring alternatives to survive these hard times. At Fortune Business Insights™, we are taking constant efforts to provide you with comprehensive market intelligence and aid your business to emerge successfully from this crisis. We are offering precise market reports based on our expertise and experience in the field of market research.
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Highlights of the Report:
- Actionable research on market drivers, trends, restraints, and opportunities;
- Exhaustive study of the key market players and their growth strategies;
- Microscopic examination of the various market segments; and
- Tangible insights into the regional dynamics influencing the market.
Growing Incidence of Diabetes to Boost Market Prospects
The number of people afflicted by diabetes is growing at a staggering pace. According to the International Diabetes Federation (IDF), there will be 700 million people living with diabetes in the world by 2045. At present, there are 463 million diabetics around the globe, as per IDF estimates. Further, the IDF highlights that over 1 million adolescents and children are currently living with type 1 diabetes, while approximately 374 million people are at high risk of developing type 2 diabetes. Gallic acid may prove to be an effective option for managing blood glucose levels in diabetics, recent research suggests. Studies conducted by researchers from the Nirma University in Ahmedabad and the Gujarat University found that treatment with gallic acid reduced fasting sugar, even though insulin levels were not raised. More significantly, the studies demonstrated that gallic acid is beneficial in treatment of myocardial damage induced by type 1 diabetes. Widespread occurrence of diabetes, therefore, is likely to favor the gallic acid market growth.
Asia Pacific to Present Lucrative Opportunities; North America to Display Strong Growth
Asia Pacific is expected to generate unprecedented opportunities for players in this market owing to the rapidly transforming healthcare industry and increasing research in the field medicine. Moreover, the personal care and cosmetics industry in the region is also expanding at a furious pace, which is attracting foreign investments in the developing economies of the region.
In North America, the market outlook is broadening on account of the robust pharmaceutical industry in the US and Canada. On the other hand, in Europe, the market is making notable progress as a result of the growing research into the applicability of gallic acid in the food & beverages industry.
Key Players to Make Focused Investments in Research & Development
Prominent companies in this market are making strategic investments in research and development activities to explore the potential applications of gallic acid in various end-user industries. These investments are allowing key players to develop novel derivatives from this ingredient and expand their business horizons.
- January 2019: Researchers from the University of Saskatchewan in Canada showed that gallic acid is effective in treating bovine respiratory disease (BRD). The research demonstrated how gallic acid potentiates the antimicrobial potency of tulathromycin against two pathogens that cause BRD.
List of Key Players Covered in the Gallic Acid Market Report:
- XiangxiGaoyuan Biotechnology Co.,Ltd.
- Gallochem Co., Ltd.
- Chicheng Biotech
- Zunyi City Bei Yuan Chemical Co.,Ltd
- Hubei Tianxin Biotech Co., Ltd
- LKT Laboratories, Inc.
- Cayman Chemical
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