The global sialic acid market is estimated to be valued
at USD 15,225.3 thousand by 2024 and is expected to register a CAGR
of 12.19% during the forecast period.
The solid segment dominated the global sialic acid market, by
form, and is projected to reach USD 14,602.4 thousand by 2024. The segment is
also projected to be the fastest-growing during the forecast period.
North America dominated the market, accounting for the largest
share of the market in 2017, and the regional market is expected to register a
CAGR of 12.11% during the review period. The Asia-Pacific market is
expected to be the fastest-growing at the highest CAGR of 12.64% during the
forecast period. In Europe, the market is projected to reach USD 5,257.4
thousand by the end of 2024.
On the basis of application, the market has been divided into
infant nutrition, dietary supplements, cosmetics and personal care products,
and others. The infant nutrition segment accounted for 61.62% of the market
share in 2018. However, the cosmetics and personal care products segment is
projected to register the highest growth rate of 12.96% during the forecast
period. Breast milk is a rich source of sialic acid, N-acetylneuraminic,
especially in the early stages of lactation. Sialic acid is thought to play a
crucial role in the structural and functional establishment of synaptic
pathways by facilitating the binding of transmitter molecules to the synaptic
membrane. Furthermore, sufficient sialic acid supply is essential in neonates
and very-low-birth-weight infants for normal brain development. In dietary
applications, sialic acid supplements are available in the form of candies,
gummies, tablets, capsules, soft gels, gel caps, powders, and liquids.
Regional Analysis
Geographically, the global sialic acid market has
been segmented into North America, Europe, Asia-Pacific, and the rest of the
world. As per MRFR analysis, North America was the largest market for
sialic acid in 2017 and is expected to remain dominant during the review
period. Asia-Pacific is expected to account for the highest growth rate during
the forecast period. The growing markets for infant milk formula and dietary
supplements are expected to propel the growth of the sialic acid market in the
region. The US accounted for the largest share of 76.75% of the North American
market in 2017 and the country-level market is projected to register a CAGR of
12.06% during the forecast period.
Key Findings of the Study:
The global sialic acid market is projected to reach USD
15,225.3 thousand by 2024 at a 12.19% CAGR during the review period of 2019 to
2024.
North America accounted for the largest market share with the
US being the major contributor to the growth of the market in 2018.
The solid segment is projected to register the highest CAGR of
12.27% during the forecast period.
Key manufacturers are adopting product launches, expansions,
and corporate acquisitions as growth strategies. Moreover, they are focusing on
improved material use and sales through online retail channels.
Complete Report Details @ https://www.marketresearchfuture.com/reports/sialic-acid-market-7704
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