Global Shikimic Acid Market Size, Demands Analysis to 2025
Global Shikimic Acid Market Overview:
Shikimic acid is a biochemical metabolite that is extracted from the Illicium Anisatum plant. It is available in 2 concentrations of 98% and 99% and are currently being used as a chiral blinding block in the pharmaceutical and cosmetic industry. It is the only known precursor for the synthesis of Tamiflu, which is a fight against the avian virus. This has effectively put the acid on the global map as the cases of avian flu has been on a rise across the globe. Apart from this, in the pharma field the acid is used in the synthesis of bio-based products and oseltamivir phosphate which is a potent viral inhibitor. This has opened newer avenues for usage in agricultural sectors as a fertilizer.
Global Shikimic Acid Market Size Analysis:
The global Shikimic Acid (CAS 138-59-0) market size was XX million US$ and it is expected to reach XX million US$ by the end of 2025, with a CAGR of XX % between 2018 and 2025.
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Global Shikimic Acid Market Geographical Segmentation:
The usage of the acid is world-wide, and its geographic segmentation can be North America, Europe, Middle East and Africa, and Latin America. Asia Pacific emerged as a huge market since 2013 and with growing urbanization, increase in focus on the healthcare system and advancement in technology, the potential to dominate the market exists. Also, cases of avian flu were on a rise in these regions and this boosted the market for the acid substantially. China dominates the Asia Pacific market because of the wide spread availability of the Illicium Anisatum plant, which was being used as a medicinal plant since centuries. North America’s growth has been phenomenal owing to its swift industrial expansion, modernization and technological advancement. The pharmaceutical segment is its largest user followed by the cosmetics sector and now the agricultural sector.
Key Players Listed in Global Shikimic Acid Market are:
Draths Corp, Sanofi, JIAHERB, Manus Aktteva Biopharma LLP, Roche Holdings AG and others. Intense investments are made by firms for R&D of the product including the search for technological aspects related to the extraction of the product.
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The limited availability of the Illicium Anisatum plant is expected to hinder the growth of the acid. However, recent study suggests that the acid is found in its natural form within micro-organisms as well and this is a breakthrough for the industry as it is a more renewable source. Growth in the cosmetic sector along with technological advancement in the pharmaceutical sector is expected to help the market of the Shikimic acid grow. Its versatile applications and its potential for being used as a commercial bulk chemical is hoped to keep the market afloat for years to come.
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