Dipotassium Glycyrrhizinate Market Growth Analysis, Market Dynamics 2024-2030
Overview of the Global Dipotassium Glycyrrhizinate Market:
The global Dipotassium Glycyrrhizinate market is expected to witness substantial growth, with an estimated value of US$ 41.43 million in 2023, projected to reach US$ 64.68 million by 2030. A Compound Annual Growth Rate (CAGR) of 6.41% is anticipated during the forecast period from 2024 to 2030.
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The global Dipotassium Glycyrrhizinate market is expected to witness substantial growth, with an estimated value of US$ 41.43 million in 2023, projected to reach US$ 64.68 million by 2030. A Compound Annual Growth Rate (CAGR) of 6.41% is anticipated during the forecast period from 2024 to 2030.
Dipotassium Glycyrrhizinate is a natural ingredient derived from licorice root. It is a dipotassium salt of Glycyrrhizic Acid, which is a compound found in the roots of the licorice plant. Dipotassium Glycyrrhizinate has numerous benefits, especially in the field of skincare.
European Market Analysis:
- The European market for Dipotassium Glycyrrhizinate is forecasted to experience growth from $5.37 million in 2023 to $8.09 million by 2030. This represents a Compound Annual Growth Rate (CAGR) of 5.91% from 2024 through 2030.
Chinese Market Dynamics:
- The Chinese market for Dipotassium Glycyrrhizinate is expected to show significant expansion, rising from $20.69 million in 2023 to $34.28 million by 2030. The Compound Annual Growth Rate (CAGR) for China during the forecast period is projected to be 7.35%.
Key Players in the Global Market:
- Notable global manufacturers of Dipotassium Glycyrrhizinate include GfN Selco, Alps Pharmaceutical, Nikko Chemicals, Fanzhi Pharmaceutical, Shaanxi Jintai Biological Engineering, and others. In 2023, the top three vendors worldwide contributed to around 62.66% of the total revenue.
This report aims to provide a comprehensive presentation of the global market for Dipotassium Glycyrrhizinate, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Dipotassium Glycyrrhizinate.
The Dipotassium Glycyrrhizinate market size, estimations, and forecasts are provided in terms of output/shipments (MT) and revenue ($ millions), considering 2023 as the base year, with history and forecast data for the period from 2019 to 2030. This report segments the global Dipotassium Glycyrrhizinate market comprehensively. Regional market sizes, concerning products by Type, by Application, and by players, are also provided.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
The report will help the Dipotassium Glycyrrhizinate manufacturers, new entrants, and industry chain related companies in this market with information on the revenues, production, and average price for the overall market and the sub-segments across the different segments, by company, by Type, by Application, and by regions.
Market Segmentation
By Company
- GfN Selco
- Alps Pharmaceutical
- Nikko Chemicals
- Fanzhi Pharmaceutical
- MAFCO Worldwide
- Shaanxi Jintai Biological Engineering
- Jiangsu Tiansheng Pharmaceutical
- Qinghai Lake Pharmaceutical
- VITAL-CHEM Zhuhai
- Shaanxi Fujie Pharmaceutical
- Qingdao Taitong Pharmaceutical
Segment by Type
- Food Grade
- Pharma Grade
- Other
Segment by Application
- Pharma and Healthcare
- Food and Feed Additives
- Cosmetic and Skin Care
- Other
Production by Region
- North America
- Europe
- China
- Japan
Consumption by Region
- North America
- USA
- Canada
- Asia-Pacific
- China
- Japan
- Korea
- Southeast Asia
- India
- Europe
- Germany
- France
- U.K.
- Italy
- Russia
- Latin America, Middle East & Africa
- Mexico
- Brazil
- Turkey
- GCC Countries
Factors Driving Market Growth:
- Increasing demand for Dipotassium Glycyrrhizinate in various industries, including pharmaceuticals and cosmetics.
- Favorable market conditions and a growing awareness of the product's benefits are contributing to market expansion.
Regional Trends:
- Different regions exhibit varying growth rates, with China leading in terms of both market size and growth rate.
- Europe, while showing positive growth, has a comparatively lower CAGR compared to China.
Challenges and Opportunities:
- Regulatory challenges and compliance requirements may pose obstacles to market players.
- Opportunities lie in research and development, exploring new applications, and expanding product portfolios.
Future Outlook:
- The Dipotassium Glycyrrhizinate market is poised for sustained growth, driven by factors such as increasing consumer awareness and expanding applications across industries. Continuous innovation and strategic partnerships are likely to shape the future landscape of the market.
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