Guanylic Acid Market Share, Size, Trends, Industry Analysis Report, Guanylic Acid Market Share, Size, Trends, Industry Analysis Report, By Salt Type (Disodium guanylate, Dipotassium guanylate, Calcium guanylate); By Application; By End Use Industry; By Region; Segment Forecast, 2023 - 2032
- Published Date:Jun-2023
- Pages: 117
- Format: PDF
- Report ID: PM3369
- Base Year: 2022
- Historical Data: 2019-2021
Report Outlook
The global guanylic acid market was valued at USD 1,101.27 million in 2022 and is expected to grow at a CAGR of 5.4% during the forecast period. Consumers may shift towards cheaper processed food products with flavor enhancers such as Guanylic acid as food prices increase. This can increase the demand for Guanylic acid-containing food products, leading to growth in the Guanylic acid market. The Australian Trade and Investment Commission reports that the price of food worldwide increased by 31.1% in 2021 and is now at its highest since 2011. Moreover, the rise in global food prices can also lead to an increase in the prices of natural flavorings such as herbs and spices, making Guanylic acid a more attractive option for food manufacturers. Guanylic acid is a cost-effective and easy-to-use flavor enhancer, making it an attractive alternative to natural flavorings that may be more expensive or difficult to source. This will create new opportunities for market growth in the coming years.
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The increasing demand for plant-based and alternative protein sources drives the market's growth, as guanylic acid is commonly used as a flavor enhancer in these products. Plant-based and alternative protein sources, such as soy, pea, and rice proteins, are becoming increasingly popular due to various factors, including health and environmental concerns, animal welfare issues, and taste preferences. As these products become more popular, the demand for flavor enhancers, such as guanylic acid, also increases.
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Industry Dynamics
Growth Drivers
Guanylic acid is a flavor enhancer in many food and beverage products. The increasing demand for processed foods and ready-to-eat meals drives the need for Guanylic acid in the food and beverage industry. Consumers are increasingly demanding natural and organic ingredients in their food products. Functional foods are food products that offer health benefits beyond basic nutrition. Guanylic acid is known to have antioxidant properties, which makes it a popular ingredient in functional foods. This will further fuel the growth of the in upcoming years.
Guanylic acid is used in the pharmaceutical industry as a component of drugs that treat cancer, viral infections, and other diseases. The growing demand for pharmaceuticals is expected to drive the demand for Guanylic acid in the coming years. It is also used as a moisturizer and emollient in personal care products such as shampoos, conditioners, and lotions. The increasing demand for personal care products is expected to drive the demand for Guanylic acid in this application.
Report Segmentation
The market is primarily segmented based on type, application, end use industry and region.
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By Type |
By Application |
By End Use Industry |
By Region |
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Disodium guanylate segment is expected to witness fastest growth during forecast period
The disodium guanylate segment will witness the fastest growth in the upcoming years. It is commonly used in processed foods such as snacks, canned foods, and sauces. The growing demand for processed foods is expected to drive the demand for disodium guanylate in the coming years. Disodium guanylate can be derived from natural sources such as yeast extract and seaweed. Consumers increasingly demand natural and organic ingredients in their food products, which is expected to drive the demand for disodium guanylate as a natural flavor enhancer.
Taste Enhancer accounted for the largest market share in 2022
The taste enhancer segment is driving the growth of the guanylic acid market due to its wide range of applications in the food and beverage industry. Guanylic acid is a common taste enhancer used to enhance the flavor of food products, particularly in combination with other taste enhancers such as monosodium glutamate (MSG). Guanylic acid, derived from natural sources such as yeast extract and seaweed, is gaining popularity as a natural flavor enhancer. Flavor-modified foods are food products altered to provide a specific taste or flavor. Guanylic acid is commonly used with other taste enhancers to give a unique flavor profile in flavor-modified foods.
Food and Beverages segment is expected to hold the significant revenue share in projected period
The food and Beverages segment is projected to witness higher revenue share in the coming years. It is an acid widely used in the food and beverage industry as a flavor enhancer to improve the taste and aroma of food products. The busy lifestyle of consumers is driving the demand for convenience foods such as ready-to-eat meals and snacks. Guanylic acid is commonly used in these foods to enhance their flavor, which is expected to drive the demand for Guanylic acid in the coming years. Umami is the fifth taste sensation, which is often described as savory or meaty. Disodium guanylate is commonly used with MSG to provide an umami taste to food products. The growing demand for umami taste will drive the demand for Guanylic acid in the coming years.
Asia Pacific is projected to witness higher growth in upcoming years
Asia Pacific is expected to grow more in the coming years. This region has a large and growing population, driving the demand for food products. Guanylic acid is widely used as a flavor enhancer in processed foods, snacks, and beverages, which is expected to drive the demand for Guanylic acid in the region. The growing middle class in the Asia Pacific has higher disposable income, driving the need for processed and convenience foods. Guanylic acid is commonly used as a flavor enhancer in these foods, which is expected to drive the demand for Guanylic acid in the coming years.
North America will witness a larger revenue share throughout the forecast period. It has a well-established food and beverage industry that is a major consumer of guanylic acid. The high demand for processed and convenience food products in North America has created a significant market for Guanylic acid as a flavor enhancer, which is expected to continue to drive market growth in the region. This will further fuel the development of the market.
Competitive Insight
Some of the major players operating in the global market include Afine Chemicals, Ahh Chemical, Ak Scientific, Alichem, Anhui Bbca Pharmaceutical, Boc Sciences, Boc Chemspace, Conier Chem & Pharma, Dayang Chem (Hangzhou), Hubei Ipure Biotech, Hunan Huateng Pharmaceutical, Jinan Shangbo Biotech, Phenomenex and Zhejiang Chengyi Pharmaceutical.
Recent Developments
- In December 2022, Merck & Synplogen signed an agreement to expedite the production of viral gene therapy applications. VirusExpress Platform is being used in collaboration to speed up development and clinical research.
Guanylic Acid Market Report Scope
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Report Attributes |
Details |
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Market size value in 2023 |
USD 1,157.65 million |
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Revenue forecast in 2032 |
USD 1,853.65 million |
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CAGR |
5.4% from 2023 - 2032 |
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Base year |
2022 |
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Historical data |
2019 - 2021 |
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Forecast period |
2023 - 2032 |
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Quantitative units |
Revenue in USD million and CAGR from 2023 to 2032 |
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Segments covered |
By Type, By Application, By End Use Industry, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Key companies |
AFINE CHEMICALS, AHH Chemical, AK Scientific, Alichem, Anhui BBCA Pharmaceutical, BOC Sciences, BOC Chemspace, Conier Chem & Pharma, DAYANG CHEM (HANGZHOU), Hubei ipure Biotech, Hunan Huateng Pharmaceutical, Jinan Shangbo biotech, Merck, Phenomenex and Zhejiang Chengyi Pharmaceutical. |
FAQ's
key companies in guanylic acid market are Afine Chemicals, Ahh Chemical, Ak Scientific, Alichem, Anhui Bbca Pharmaceutical, Boc Sciences, Boc Chemspace, Conier Chem & Pharma.
The global guanylic acid market expected to grow at a CAGR of 5.4% during the forecast period.
The guanylic acid market report covering key segments are type, application, end use industry and region.
key driving factors in guanylic acid market are increased demand from food and beverage industry.
Guanylic Acid Market Size Worth $1,853.65 Million By 2032.
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