Global Ferulic Acid Market is valued approximately USD 57.28 million in 2019 and is anticipated to grow with a healthy growth rate of more than 6.11 % over the forecast period 2020-2027. Ferulic acid is an organic compound present in the cell walls of certain plants. Rich in antioxidants such as vitamin A, vitamin C, and vitamin E, ferulic acid is most used in anti-aging skin creams that are known to neutralize free radicals that weaken and age cells. The increase in demand for anti-aging cream is projected to fuel the development of the global market for ferulic acid. In some countries, the food industry also uses ferulic acid as a preservative. Naturally, the antioxidant effects are not restricted to avoiding wrinkles are not only used for reducing wrinkles but, they even combat disease, and they are helpful in preventing diabetes. According to the International Diabetic Federation, the rate of diabetic patients is rising at a considerable rate. According to the source, the number of diabetic patients in 2015 was stated to be about 425 million worldwide, while the number is expected to rise by around 578 million by 2030 and around 700 million by 2045, which will result in increased acceptance of ferulic acid over the forecast period. However, Side effects of Ferulic Acids impedes the growth of the market over the forecast period of 2020-2027. Although, Increasing usage of ferulic acid in the processing of functional foods & dietary supplements presents a lucrative opportunity for the market.
The regional analysis of global Ferulic Acid market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia-Pacific is the leading/significant region across the world in terms of market share owing to the presence of large number of chemical manufacturers in the region coupled with rising growth in the personal care industry. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rising industrialization and surging E-commerce would create lucrative growth prospects for the Ferulic Acid market across Asia-Pacific region.
Major market player included in this report are:
Aston Chemicals Ltd
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Ferulic Acid Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers