Pyruvic Acid Market Size & Share, by Type (Chemical Synthesis, Bio-Synthesis, Synthetic Synthesis); Function (Additives, Chemical Intermediate); Application (Pharmaceuticals, Daily Chemicals, Food Additives, Agrochemicals) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5778
  • Published Date: Mar 01, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Pyruvic acid Market size is anticipated to cross USD 88 Million by the end of 2036, growing at a CAGR of 5% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of pyruvic acid was USD 50 Million. Pyruvic acid was being investigated by the pharmaceutical industry for application in the manufacture of many medications and pharmaceutical intermediates. The market is expanding as a result of raising overall production capacity and satisfying the expanding demand from different sectors. Also, it serves as an ingredient or precursor in the manufacturing of some drugs, such as those used to treat neurological, cardiovascular, and metabolic conditions. With 928,741 deaths from cardiovascular disease (CVD) in 2020, it is still the top cause of mortality in the US. Therefore, the prevalence of these diseases is propelling the growth of the market.

Furthermore, new applications and formulations of pyruvic acid are discovered through continuous research and development efforts. Innovation in production processes and product development further propels pyruvic acid market growth by broadening the range of industries and applications in which pyruvic acid can be used. Additionally, the expansion of distribution networks allows pyruvic acid manufacturers to reach new markets and seize emerging opportunities.


Pyruvic Acid Market overview
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Pyruvic Acid Sector: Growth Drivers and Challenges

Growth Drivers

  • Growing Adoption in the Cosmetics Industry – Naturally occurring alpha-keto acid pyruvic acid is becoming more and more well-liked in the cosmetics business because of its many skin-beneficial qualities. Also, its potential benefits for skin regeneration and for treating a variety of skin issues, including acne, hyperpigmentation, and aging, pyruvic acid is becoming more and more popular in the cosmetics business. Pyruvic acid-containing skincare products were in high demand due to the increased interest of consumers in cutting-edge and efficient skincare products. For instance, more than 36% of American customers of skincare products utilized them many times a day in 2020. Pyruvic acid is also useful in treating acne and other skin disorders because of its antibacterial and antioxidant qualities.
  • Increasing Demand for Sustainable Products - In the food and beverage, cosmetics, and other industries where sustainable and organic products are valued highly, there has been a noticeable increase in the demand for natural compounds like pyruvic acid. The pyruvic acid market is expanding as a result of manufacturers' attention to sustainable production techniques and ethical raw material sourcing.  Furthermore, pyruvic acid is compatible with the formulations of organic products because it may be obtained from organic sources including fruits, vegetables, and honey. Furthermore, customers are drawn to components like pyruvic acid that complement their inclinations for natural and environmentally friendly products because they believe that organic skincare products are safer and more sustainable than conventional ones.
  • Surge in the Demand for Food Additives – Pyruvic acid has numerous uses in food items, such as an antioxidant, preservative, and flavor enhancer. As a result, the pyruvic acid market for food additives is growing. Pyruvic acid is a useful component of flavoring agents because of its reputation for enhancing food's scent. Furthermore, it serves as a preservative by preventing the growth of bacteria and prolonging the food goods' shelf life. In addition, the industry is expanding due to the movement toward natural food ingredients and clear labels. Therefore, the increasing demand for food additives is driving the growth of the market.

Challenges

  • Stringent Regulations and Laws by the Government - Particularly in sectors like cosmetics, pharmaceuticals, and food & beverage, the pyruvic acid market is subject to several regulatory standards and compliance requirements. Strict laws about environmental impact, product safety, and quality control can be problematic for market participants, affecting their ability to penetrate new markets and streamline their production processes. In certain areas and sectors of the economy, a lack of knowledge about the advantages and uses of pyruvic acid can impede market expansion. These issues are expected to impede the market's growth.
  • Fluctuating Raw Material and Manufacturing Costs May Hinder the Growth of the Market
  • Increased Competition from Alternatives may Hamper Pyruvic Acid Market Growth

Pyruvic Acid Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

~ 5%

Base Year Market Size (2023)

 ~ USD 50 Million

Forecast Year Market Size (2036)

 ~ USD 88 Million

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Pyruvic Acid Segmentation

Type (Chemical Synthesis, Bio-Synthesis, Synthetic Synthesis)

Bio-synthesis segment in the pyruvic acid market is poised to account for the largest share of 46% during the forecast period. When it comes to producing agrochemicals, biosynthesis is a more environmentally friendly and sustainable way than traditional chemical synthesis techniques. Biosynthesis frequently makes use of biocatalysts and renewable resources, which lowers energy usage, waste production, and environmental effects. Additionally, consumers are beginning to choose agricultural products sourced sustainably and organically. In addition, to reduce environmental contamination and guarantee food safety, regulatory bodies are progressively implementing stronger laws for the use of chemicals in agriculture. Furthermore, the creation of more productive biosynthetic routes for the synthesis of agrochemicals has been made possible by developments in biotechnology, including genetic engineering, metabolic engineering, and synthetic biology. Therefore, these factors are contributing to the growth of the bio-synthesis segment.

Application (Pharmaceuticals, Daily Chemicals, Food Additives, Agrochemicals)

Agrochemicals segment in pyruvic acid market is anticipated to hold a share of 40% during the forecast period. The significant rise in ethyl pyruvate usage in the synthesis of agrochemicals is responsible for the segment's expansion. There is a growing need to produce more food to feed the growing population as the world's population continues to rise. Fertilizers and pesticides are examples of agrochemicals that are essential for increasing agricultural output since they increase crop yields and shield plants from pests and illnesses. Furthermore, there is a growing desire for a wider variety of superior food products as living standards rise in many parts of the world. For instance, sales of organic food increased from approximately 18 billion dollars in 2000 to over 132.74 billion dollars in 2021. across the globe Therefore, the growing consumption of organic food is propelling the growth of the segment. In addition, new agrochemical formulations, precision farming methods, and agricultural biotechnology advancements are propelling the segment's expansion.

Our in-depth analysis of the global pyruvic acid market includes the following segments:

          Type

  • Chemical Synthesis
  • Bio-Synthesis
  • Synthetic Synthesis

          Function

  • Additives
  • Chemical Intermediate

          Application

  • Pharmaceuticals
  • Daily Chemicals
  • Food Additives
  • Agrochemicals

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Pyruvic Acid Industry - Regional Synopsis

APAC Market Statistics

Pyruvic acid market in the Asia Pacific region is anticipated to hold a share of 36% during the forecast period. Due to the availability of raw materials like sugarcane, corn starch, etc., the rise in demand for food additives like preservatives and antioxidants, and other factors like the expanding pharmaceutical industry that contribute to increasing production capacity coupled with high initial investment cost, the Asia-Pacific region has emerged as the world's largest consumer and producer of pyruvic acid. Over the course of the projected year, the worldwide pyruvic acid market is anticipated to grow due to increased industrialization, particularly in developing nations like China and India. As a result, there is a growing need for pyruvate derivatives, or pyruvic acid, in food additives and preservatives.

North American Market Statistics

North America pyruvic acid market is expected to hold a share of 28% by 2036. Due to consumer preferences for skincare products with anti-aging, exfoliating, and brightening qualities, the region has a strong cosmetic sector. Additionally, the demand for convenience and processed meals is higher in the region, which is supporting market expansion. Furthermore, the demand for skincare products is being driven by North American consumers' growing priority for health and wellness. According to a report, at USD 361 billion in 2022, North America will be the largest region for physical exercise.

Research Nester
Pyruvic Acid Market size
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Companies Dominating the Pyruvic Acid Landscape

top-features-companies
    • Dibi Milano
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Estee Lauder Companies Inc
    • Minakem
    • Tianjin Shengdao Technology
    • Shanghai Jinli Biotech
    • Jiangyin Kangda Chemical
    • Tianfu Group
    • Across Organics
    • Cayman Chemical Company
    • Hubei Xiangxi Chemical Industry Co., Ltd.
    • Yifan Biotechnology Group Co., Ltd.

In-the-news

In The News

  • January 2021 - Acid Infusion, a revitalizing and bioactivating salon treatment and retail line made with pyruvic acid, is being introduced by the Italian skincare and spa brand Dibi Milano.  To rejuvenate the epidermis, stimulate skin tissue, and combat the indications of chrono and photo-ageing, active components—including a 100% infusion of special active ingredients of pure acids and dermoactive substances—work in concert.
  • December 2023 - Estée Lauder unveils its new Skin Longevity platform, which is built on 15 years of experience in cutting-edge skin longevity research. Leading the new frontier in luxury skincare driven by science is Estée Lauder, with a revolutionary product innovation fueled by state-of-the-art age-reversal technology. Estée Lauder is announcing the creation of a longevity expert collective across multiple disciplines to educate and empower consumers to rethink how they approach skincare and lifestyle—reframing the conversation from anti-aging to visible age reversal—to further solidify the brand's authority in skin longevity science.

Author Credits:  Smruti Ranjan, Rajrani Baghel


  • Report ID: 5778
  • Published Date: Mar 01, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Growing adoption in the cosmetics industry, increasing demand for sustainable products, and surge in the demand for food additives are the major factors driving the growth of the pyruvic acid market.

The market size of pyruvic acid is anticipated to attain a CAGR of 5% over the forecast period, i.e., 2024-2036.

The major players in the market are Dibi Milano, Estee Lauder Companies Inc., Minakem, Tianjin Shengdao Technology, Shanghai Jinli Biotech, Jiangyin Kangda Chemical, Tianfu Group, Across Organics, Cayman Chemical Company, Hubei Xiangxi Chemical Industry Co., Ltd., Yifan Biotechnology Group Co., Ltd. and others.

The bio-synthesis segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
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