Levulinic Acid Market Overview:
The global levulinic acid market is spanned across five regions of the world namely, Latin America Asia Pacific, North America, Europe, and the Middle East & Africa. Among these, North America holds the major share of the global market and is projected to grow at a considerable CAGR during the forecast years. The growing consumption of levulinic acid in the food and beverage and personal care industry among others is adding to the growth of the market.
Moreover, the increasing consumption of levulinic acid in the food industry is expected to be another dominant factor augmenting the growth of the market in the region. The major countries attributing to this growth are Canada, and the U.S. Asia Pacific is anticipated to show a steady growth during the assessed period.
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Levulinic Acid Market Key Players:
Some of the prominent players operating in the global levulinic acid market are Biofine International Inc. (U.S.), Avantium (Netherlands), GF Biochemicals Ltd. (Italy), Langfang Triple Well Chemicals Co. Ltd (China), Simagchem Corporation (China), Hefei TNJ Chemical Industry Co., Ltd. (China), Great Chemicals Co. Ltd. (China), and Anhui Herman Impex Co Ltd (China), DuPont (U.S.), and CSPC Pharmaceutical Group (China).
Levulinic Acid Market Segmentation:
The global levulinic acid market is segmented into technology and application. On the basis of the technology, the market is segregated into the acid hydrolysis production process, and biofine production process and others. The market by the application is further segmented into food additive, pharmaceuticals, cosmetic and personal care, agriculture, plasticizers, and others.
Levulinic Acid Market Regional Analysis:
The levulinic acid market is segmented across five regions: Europe, Latin America, Asia Pacific, North America, and the Middle East & Africa. Among these, North America holds a major share of the market and is expected to be the fastest growing market during the forecast years. North America followed by Europe are expected to show steady growth during the assessment period. The developed personal care and pharmaceutical industry are driving the market in this region. Moreover, the fast-paced lifestyle and the growing working population have augmented the demand for convenience food in the region, which further fuel the demand for levulinic acid as food additives. The major growth in the levulinic acid market in the region is attributed to the U.S. and Canada.
Levulinic Acid Market Table of Content to be Continue…….,
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