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Gluconic Acid Market - Overview
The global gluconic acid market is projected to grow at a promising rate from 2021 to 2031 (forecast period). During the forecast period, the growing application of gluconic acid in the food and beverage and pharmaceutical industries is expected to be the primary growth driver for the worldwide gluconic acid market. Moreover, the increased consumer spending on food products as a result of rising disposable income is likely to boost the global gluconic acid market during the forecast period. Furthermore, the gluconic acid and sodium gluconate derivatives are extensively utilized in a variety of applications, including chelating agents for plating, textile dyeing, and others. As a result, the worldwide gluconic acid market is expected to rise throughout the forecast period.
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Gluconic Acid Market - Competitive Landscape
Prominent players active in the global gluconic acid market are Ruibang Laboratories, PMP Fermentation Products, Tianyi Food Addictives, Xinhong Pharmaceutical, Kaison Biochemical, Jungbunzlauer, Ferro chem Industries, Roquette, Gress Chemicals, Shandong Fuyang biotechnology, Xiwang Sugar, and Xingzhou Medicine Food.
The leading players are focused on several tactics such as collaborations, technological innovations, investments, acquisitions, and R&D activities in order to obtain a large market share. Kaison Biochemical and Roquette are two of the major players in the gluconic acid market. Leading organizations are developing cost-efficient and environmentally friendly manufacturing procedures and safer and more efficient product manufacturing methods.
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