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Global Shikimic Acid Market Projected to Reach USD 2080 Million by 2026

19-Jun-2020 | Facts and Factors

Findings from Facts and Factors report “Shikimic Acid Market By Type (Purity<98%, Purity: 98-99%, and Purity>99%) and By Applications (Anti-inflammatory Drugs, Analgesic Drugs, and Antiviral Drugs): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global shikimic acid market in 2019 was approximately USD 1250 Million. The market is expected to grow at a CAGR of 8% and is anticipated to reach around USD 2080 Million by 2026.

Shikimic acid is shikimate anionic form, is a cyclitol, is a cyclohexene, and a cyclohexanecarboxylic acid. In plants and micro-organisms it is an essential biochemical metabolite. In addition, the acid is easily water soluble, and insoluble in non-polar solvents. Shikimic acid is used extensively as a chiral building block for pharmaceutical synthesis. Moreover, the acid is highly soluble in water and insoluble in non-polar solvents. Shikimic acid is widely used as a chiral building block for the synthesis of pharmaceuticals. The most significant application of shikimic acid is as a substratum for the chemical synthesis of the drug oseltamivir, which is commercially traded as Tamiflu ®, an effective inhibitor of swine-born human influenza virus H1N1, seasonal influenza virus types A and B, and avian influenza virus H5N1.

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The global shikimic acid market has been witnessing high growth over the years owing to increasing demand from cosmetic and pharmaceutical industry. Rising disposable income across the globe has raised the demand for cosmetic products, particularly among female population, along with enhancement in technologies in pharmaceutical sector is anticipated to surge the shikimic acid market growth over the analysis period.  However, its limited availability may hinder the market growth worldwide. This acid is the one of the major raw material used in production of oseltamivir phosphate. Rising usage of oseltamivir phosphate in agriculture industry is the boosting the sales of shikimic acid. Thereby certain factors are driving the market growth over the last few years.

The shikimic acid market has been segmented into type and application. In terms of level of purity the type segment has been categorized into purity<98%, purity: 98-99%, and purity>99%. The purity level ranges between 98-99% accounts the largest market share presently. Furthermore, in terms of application, the market has been bifurcated into anti-inflammatory drugs, analgesic drugs, and antiviral drugs among others. The anti-viral drug is dominant among other applications owing to its huge demand for cosmetic products. Thereby, it has been anticipated that it will maintain its position in forthcoming years.

The global shikimic acid market is analyzed by five major regions including North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa. Europe holds the largest market in 2019 owing to its large availability of shikimic acid producer. Moreover, Asia Pacific market consumes most of the shikimic acid due to rising diseases like bird flu in this area. It has been indicated that certain factors in the market will contribute to its growth. Further, the regions are analyzed into major countries in this research report are the U.S., Mexico, Germany, UK, Canada, France, China, Italy, India, South Korea, Japan, Brazil, UAE, Egypt, Kuwait, and South Africa among others.

Some of the key market players operating in this market include Guangxi Wanshan, Shanxi Huike, SS Fermozyme Private Limited, Suzhou Norming, Younous Herb Extract Co., Ltd, Biogin, BioBioPha Co., Ltd., Dezhou Yunxiang Food Co., Ltd., and Roche Holding AG among others.

This report segments the Shikimic Acid market as follows:

Global Shikimic Acid Market: By Type Segmentation Analysis

  • Purity<98%
  • Purity: 98-99%
  • Purity>99%

Global Shikimic Acid Market: By Application Segmentation Analysis

  • Anti-inflammatory Drugs
  • Analgesic Drugs
  • Antiviral Drugs
  • Others

Global Shikimic Acid Market: Regional Segmentation Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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