The global pyruvic acid market is anticipated to grow at a considerable CAGR of 4.5% during the forecast period (2023-2030). The growth in the market is primarily driven by the increasing demand for food additives owing to the growing demand for convenience foods that are high in calories and sugar content. There are various drivers that can be taken into account to analyze the growth of this market. Growth in the chemical industry, rise in demand for bio-based chemicals, and environment-friendly compounds such as organic acids are expected to fuel the pyruvic acid market during the forecast period.
Browse the full report description of “Pyruvic Acid Market Size, Share &Trends Analysis Report by Function (Additive and Chemical Intermediates), by Application (Food, Pharmaceutical, Agrochemicals, and Others), by Product Type (Biotechnological Methods, and Chemical Methods) Forecast Period (2023-2030)” at https://www.omrglobal.com/industry-reports/pyruvic-acid-market
The use of Bio Synthesized Pyruvate has been growing significantly over the past few years due to its environmental friendliness which makes it suitable when compared with Chemical synthesized products, leading towards a new direction in the development of biotechnology-based product applications globally. Increasing consumption of agrochemicals and organic chemicals is boosting the pyruvic acid market. Medical advancements and discoveries have resulted in increased life expectancy with improvement in quality of life for many. Pyruvic acid also finds its application in pharmaceutical industry where the growth of pharmaceutical drugs is leading to increase in demand for pyruvic acid in the market. High economic growth along with increasing penetration of health insurance to push the healthcare market which in turn will lead to increase in pyruvic acid market. Many regions are heavily dependent on their agricultural production which will lead to increase in demand of pesticides and insecticides, pyruvic acid being one of the raw materials is expected to benefit from such demand.
Market Coverage
Segment Covered-
o By Function
o By Application
o By Product Type
Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
Competitive Landscape- Jiangyin Kangda Chemical, Tianfu, Minakem, Shanghai Jinli Bio-tech, Tianjin Shengdao Technology, and others.
Key questions addressed by the report
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
Global Pyruvic Acid Market Report Segment
By Function
By Application
By Product Type
Global Pyruvic Acid Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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