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™ 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.
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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.
Driving Factor
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.
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Regional Insights
Asia Pacific to Present Lucrative Opportunities; North America to Display Strong Growth
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.
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.
Competitive Landscape
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.
Industry Development:
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:
- Xiangxi Gaoyuan Biotechnology Co., Ltd.
- Gallochem Co., Ltd.
- EXTRASYNTHESE
- MedChemExpress
- EMBL-EBI
- Chicheng Biotech
- Zunyi City Bei Yuan Chemical Co., Ltd
- Hubei Tianxin Biotech Co., Ltd
- LKT Laboratories, Inc.
- Cayman Chemical
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