Pune, India -- (SBWIRE) -- 02/12/2018 -- Market Research Future Published a Cooked Research Report "Global Glyoxylic Acid Market Research Report - Forecast to 2023" - Market Analysis, Scope, Stake, Progress, Trends and Forecast up to 2023.

Arkema Fine Chemicals (Europe), DSM Fine Chemicals Inc.(Europe), Hubei Hongyuan Pharmaceutical Technology Co., Ltd (China), Stan Chemical Co., Ltd. (UK), Shijiazhuang Haosheng Chemical Co.,Ltd.(China), Guangdong Hongyuan New Material Technology Co., Ltd. (China), Zhonglan Industry Co.,Ltd. (China), WeylChem International GmbH (Europe), Luotian Yongfei Chemical Co., Ltd. (China), Jiaxing Zhonghua Chemical Co.,LTD. (China), and Others.

Glyoxylic Acid Market – Market Overview
Global Glyoxylic Acid Market consumption is slated to be driven by some of the major trends in the end-use industries. The major prominent driving factors positively influence comprises; growing demand of allantoin in cosmetics and personal care industry, increasing demand of vanilin in food & beverage industry coupled with the growing consumption of flavours & aromas in the industry, upsurge in production of other downstream products. Among various derivatives/downstream products of glyoxylic acid, Allantoin is the leading downstream product accounting for major share in the glyoxylic acid consumption, in 2016. Owing to the emulsifying and moisturizing properties, use of allantoin is growing with the rising production of hair care and skin care products. Being a prominent derivative of glyoxylic acid, increasing allantoin consumption is slated to drive the Global Glyoxylic Acid demand across the globe.

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Apart from allantoin, vanillin is another major derivative of the Glyoxylic Acid. Methyl & ethyl vanilin, two major vanillin types are used in food & beverage industry to enhance the flavor and sweetness of the food products. Owing to growing demand of packaged foods, vanillin consumption is growing in food & beverage industry. This in turn, is anticipated to drive the Global Glyoxylic Acid Market in near future. Additionally, growing production of other Glyoxylic Acid derivatives which include, hydroxyphenylacetic acid and p-hdroxyphenylhydantoin will fuel the Global Glyoxylic Acid Market.

Among various derivatives, allantoin and vanillin estimated to be the most prominent downstream products accounting for more than half of the overall Global Glyoxylic Acid consumption. This is attributed to their prominent use in personal care and food & beverage industries, respectively.

However, stringent regulations on chemical industry and lack of high technology to produce required pure grade Glyoxylic Acid are the major factors hampering overall market growth. For instance, according to Eu directive the concentration of allantoin in Glyoxylic Acid is restricted to 100 ppm for cosmetics and personal care applications. Such regulations and lack of technology to produce high purity products is identified to be a major impediment in the market.

Geographically, Asia-Pacific is the leading consumer and producer of Glyoxylic Acid with Chna and India at the forefront of market growth. The market is driven by growing food and cosmetics demand in the region. Asia-Pacific Glyoxylic Market is followed by Europe in terms of consumption. Moreover, after Asia-Pacific, Middle East & Africa is the fastest growing market owing to the increasing demand for cosmetics & personal care products.

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Glyoxylic Acid Market - Competitive Analysis
The production capacities of the Glyoxylic Acid Market is estimated to be concentrated in Asia-Pacific and more specifically in China. Local Chinese players such as Zhonglan Industry Co., Haihang Industry Co. Ltd, and Hubei Hongyuan Pharmaceutical Technology Co. Ltd owns major share in the Chinese production and Glyoxylic Acid exports. Apart from those players, global players such as Akema Fine Chemicals also own production facilities in China.