Global Propyl Gallate Market Size To Worth USD 574.40 Million by 2033 | CAGR of 6.26%
Category: Chemicals & MaterialsGlobal Propyl Gallate Market Size To Worth USD 574.40 Million by 2033
According to a research report published by Spherical Insights & Consulting, The Global Propyl Gallate Market Size is Expected to Grow from USD 312.85 Million in 2023 to USD 574.40 Million by 2033, at a CAGR of 6.26% during the forecast period 2023-2033.
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Browse key industry insights spread across 243 pages with 110 Market data tables and figures & charts from the report on the “Global Propyl Gallate Market Size, Share, and COVID-19 Impact Analysis, By Grade Type (Food Grade, Pharmaceutical Grade, and Industrial Grade), By Applications (Food Industry, Cosmetics and Personal Care, Pharmaceuticals, and Industrial Applications), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.” Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/propyl-gallate-market
The Propyl Gallate Market is the sector of the economy that is focused on producing, promoting, and distributing propyl gallate, an antioxidant that adds shelf life to a range of products. Propyl gallate (C10H12O5)'s primary function is to prevent fats and oils from oxidizing, extending the shelf life of products including processed foods, beverages, cosmetics, and personal hygiene product. Propyl gallate is becoming more and more popular as people become more conscious of their health and well-being. Propyl gallate is a common food ingredient and antioxidant, and its demand has significantly increased due to the expanding food and beverage sector. The primary reasons driving the propyl gallate market include urbanization, regulatory approvals, the growing pharmaceutical and cosmetic sectors, the growing demand for processed foods, rising health consciousness, advancements in food preservation technologies, and sustainability trends. The market is being driven by consumers' growing preferences for natural and clean-label products. However, growing scientific data or safety concerns can lead regulatory agencies to restrict the use of propyl gallate in food products.
The food grade segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe.
Based on the grade type, the propyl gallate market is classified into food grade, pharmaceutical grade, and industrial grade. Among these, the food grade segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe. Its extensive use as an antioxidant and food preservative has led to the food grade segment.
The food industry segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe.
Based on the application, the propyl gallate market is divided into food industry, cosmetics and personal care, pharmaceuticals, and industrial applications. Among these, the food industry segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe. In the food industry, propyl gallate is used as a preservative to stop oxidation and extend product shelf life.
North America is estimated to hold the largest share of the propyl gallate market over the forecast period.
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North America is estimated to hold the largest share of the propyl gallate market over the forecast period. The country's rapidly expanding food and pharmaceutical sectors, bolstered by robust research and development skills and a flourishing food processing industry, have increased demand. Propyl gallate has been found to have therapeutic qualities that can kill cancer cells. The use of propyl gallate in this region is expected to increase by double digits.
Asia Pacific is predicted to have the highest CAGR growth in the propyl gallate market over the forecast period. Different laws about the use of food additives, cosmetic ingredients, and medicinal excipients affect the demand for propyl gallate in the region. Propyl gallate is commonly applied as a preservative to fats, oils, and fatty food products to prevent oxidation and extend shelf life in Asia Pacific region.
Major key players in the propyl gallate market include Wufeng Chicheng Biotech Co., Ltd., Tokyo Chemical Industry Co., Ltd., Biosynth Carbosynth, Leshan Sanjiang Bio-Tech Co., Ltd., MP Biomedicals, REXLER., Haihang Industry Co., Ltd., Loba Chemie Pvt. Ltd., Veeprho Group, Spectrum Chemical Mfg. Corp, Kemin Industries, Inc., Ambeed, Inc., Minakem SAS, Thermo Fisher Scientific Inc. and Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the propyl gallate market based on the below-mentioned segments:
Global Propyl Gallate Market, By Grade Type
- Food Grade
- Pharmaceutical Grade
- Industrial Grade
Global Propyl Gallate Market, By Application
- Food Industry
- Cosmetics and Personal Care
- Pharmaceuticals
- Industrial Applications
Global Propyl Gallate Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
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