Report Overview
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The global ferulic acid market size was USD 80 million in 2021. As per our research, the market is expected to reach USD 236.3 million in 2028, exhibiting a CAGR of 18.6 % during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the ferulic acid market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
Ferulic acid is a naturally occurring compound found in the cell walls of plants. It belongs to the group of phytochemicals known as hydroxycinnamic acids. This is a potent antioxidant and is known for its ability to neutralize free radicals, which can cause damage to cells and contribute to aging and disease. Also, it is commonly extracted from sources such as rice bran, wheat bran, and oats, and is used in a variety of industries including food, cosmetics, and pharmaceuticals.
The increasing demand for natural and organic products has contributed to the growth of the ferulic acid market in recent years. As a result, the market for ferulic acid is expected to continue to grow in the future, driven by increasing demand for natural and organic products and the growing awareness of the potential health benefits of ferulic acid. Additionally, based on type, natural ferulic acid is the largest segment in the market. Whereas, in terms of application, the food industry generates the highest demand for the product which is attributed to contributing to the expansion of the market.
COVID-19 Impact: Pandemic Delays the Shipments due to Shortage of Raw Materials
The COVID-19 pandemic has reduced the demand for ferulic acid in the market during the lockdown restrictions. This has resulted in a shortage of certain raw materials and delayed shipments, which has affected the availability of ferulic acid in the market.
Despite the short-term impact of the pandemic on this market, the long-term outlook remains positive, as the demand for natural and organic products is expected to continue to grow. The market is expected to recover and continue to rise, driven by increasing demand for natural and organic products.
Latest Trends
"Rising Trend of Usage of Ferulic Acid-based Products Inflate the Market Opportunity"
The ferulic acid market is rapidly evolving in the past few years with the rising demand for natural and organic products. Consumers are increasingly interested in natural and organic products, including those containing ferulic acid. Thus, this trend is expected to spike the demand for ferulic acid in several application sectors. Additionally, recently, research into the potential health benefits of ferulic acid has been increased such as its ability to reduce inflammation, lower cholesterol, and protect against certain types of cancer. As a result, it could lead to new applications to raise the demand for the acid in the coming years. Furthermore, the App-Chem Bio- company recently released ferulic acid. Besides being used as a food additive, it is also used to produce vanillin, and two types for instance, cis-form and trans-form are now available.
Segmentation
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- By Type Analysis
According to type, the market can be bifurcated into Natural Ferulic Acid and Synthetic Ferulic Acid.
- By Application Analysis
Based on application, the market can be divided into Food Industry, Pharmaceuticals, and Others.
Driving Factors
"Rising Demand for the Acid in Food & Beverage Industry Propel the Market Growth"
The growth of the market is driven by the increasing use of ferulic acid in the food and beverage industry. As this acid is commonly used as a food preservative and flavour enhancer and is also used in the production of alcoholic beverages. Consequently, the increasing demand for convenience foods and ready-to-drink beverages is expected to boost the ferulic acid market growth throughout the forecast period.
"Growing Use of the Acid in Cosmetic Industry Escalate the Demand for the Natural Ferulic"
Another driving factor of the market is the increasing demand for ferulic acid in the cosmetic industry. Lately, the acid is commonly being used in skincare products due to its antioxidant and anti-aging properties. Therefore, the growing demand for natural and organic skincare products is expected to thrive the demand for acid in the cosmetic industry which will correspondingly augment the ferulic acid market growth.
Restraining Factors
"Lack of Qualitative Raw Materials and Risk of Side Effects Can Impede the Market Growth"
Since ferulic acid is extracted from rice bran oil, which is a byproduct of rice milling, and availability and quality of rice bran oil can be affected by various factors, including weather conditions, pests and diseases, and agricultural practices. Thereby, this could impact the supply of ferulic acid and its production which can also limit the growth of this market. Besides, there can also be a risk factor after intake of ferulic acid. Allergies to its raw materials, such as corn, barley, wheat, rice, and ferulic acid may stifle market growth. This may cause a rash, hives, redness, peeling, or itching of the skin. Such factors may hinder the growth of the market during the forecast period.
Regional Insights
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"Asia Pacific leads the Market with the Existence of the Major Producer Companies "
According to a market review, the leading region in the ferulic acid market is Asia-Pacific, specifically China, and India. These countries are major producers of rice bran oil, which is the primary source of ferulic acid. The high availability of raw materials and low production costs in these countries have helped to make them more affordable and accessible to manufacturers. In addition, the Asia-Pacific region has a large and growing market for natural and organic products, including those containing ferulic acid. The increasing demand for natural and organic skincare, food, and beverage products in this region is expected to continue driving growth in the ferulic acid market.
Key Industry Players
"Key Players Offer Competitive Pricing to Attract Customers and Gain a Larger Market Share"
With regard to key players, major companies in the market are stimulating the growth of the market with the expansion of the production capacity. The leading companies are constantly striving to expand their production capacity and capital investment in research and development. Also, prominent companies are collaborating with other companies and organizations to develop new products, enter new markets, and expand their customer base. This helps them in gaining a larger ferulic acid market share to generate the highest revenue.
List of Market Players Profiled
- Healthful International
- Zhejiang Delekang Food Co., Ltd
- Fengzhijin
- Hunan Huacheng
- TSUNO
- XI’AN APP-CHEM BIO (TECH) CO., LTD
- Tateyamakasei
- Jining Ankang Pharmaceutical Co., Ltd
- Leader Chem
- OkayasuShoten
- Oryza
- Shanxi Bioon
- CM Fine Chemicals
Report Coverage
This report defines the ferulic acid market. It emphasizes the market value, expected CAGR, and USD value over the forecast period, before and after the impact of the COVID-19 pandemic restrictions on the international market, and how the industry is going to turn the corner is also stated in the report. The report provides significant market data with its product type and product applications, end-use details, and an idea of the market growth in the future. This report also provides an understanding of the growing market trends and developments and their effects on the market growth, driving factors along with restraining factors that impact the market dynamics. Along with this, the leading region, key players of the market, and their tactics to beat the market competition, sustainable policies, their collaboration, mergers, companies’ profile, previous years’ revenue, profit & loss, and market position based on their share value in the market, are also explained in the report.
| REPORT COVERAGE | DETAILS |
|---|---|
| Market Size Value In | US$ 80 Million in 2021 |
| Market Size Value By | US$ 236.3 Million by 2028 |
| Growth Rate | CAGR of 18.6% from 2021 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2021 |
| Historical Data Available | Yes |
| Segments Covered | Type and Application |
| Regional Scope | Global |
Frequently Asked Questions
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What value is the global ferulic acid market expected to touch by 2028?
The global ferulic acid market is expected to touch USD 236.3 million by 2028.
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What CAGR is the ferulic acid market expected to exhibit during 2022-2028?
The ferulic acid market is expected to exhibit a CAGR of 18.6% over 2022-2028.
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What are the key driving factors of the ferulic acid market?
Increasing demand for natural and organic products, and growing use in the food and beverage, and cosmetic industry are the driving factors of the ferulic acid market.
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What are the key players in the ferulic acid market?
Healthful International, Zhejiang Delekang Food Co., Ltd, Fengzhijin, Hunan Huacheng, TSUNO, XI’AN APP-CHEM BIO (TECH) CO., LTD, Tateyamakasei, Jining Ankang Pharmaceutical Co., Ltd, Leader Chem, OkayasuShoten, Oryza, Shanxi Bioon, and CM Fine Chemicals are top players in the ferulic acid market.
