Shikimic Acid Market Size, Share Global Analysis Report, 2020–2026

Industry Insights

[189+ Pages Report] According to the report published by Facts Factors, the global shikimic acid market size was worth around USD 1250 million in 2019 and is predicted to grow to around USD 2080 million by 2026 with a compound annual growth rate (CAGR) of roughly 8% between 2020 and 2026. The report analyzes the global shikimic acid market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the shikimic acid market.

The shikimic acid market report analyzes and notifies the industry statistics at the global as well as regional and country levels in order to acquire a thorough perspective of the entire shikimic acid market. The historical and past insights are provided for FY 2016 to FY 2019 whereas projected trends are delivered for FY 2020 to FY 2026. The quantitative and numerical data is represented in terms of both volume (Units) and value (USD Million) from FY 2016 – 2026.

Key Insights from Primary Research

• As per our primary respondents, the global shikimic acid market is set to grow annually at a rate of around 8%
• It was established through primary research that the shikimic acid market was valued at around USD 1250 Million in 2019
• Presently, Europe is holding the largest revenue share among all the regions and is further expected to maintain its position throughout the forecast period.
• On basis of product segment, Purity 98-99% dominated the global shikimic acid market in 2019. Furthermore, it is also expected to be the fastest-growing product segment of the market in the forecast period.
• The global shikimic acid market is expected to reach around USD 2080 Million by 2026.

Key Recommendations from Analysts

• As per our analysts, the global shikimic acid market is expected to grow significantly over the forecast period.
• The strategic and competitive advantage provided by shikimic acid in the pharmaceutical industry is anticipated to be the key factor driving this market globally.
• As per analysts, the use of shikimic acid in cosmetic products will boost the sales of shikimic acid.
• Our team of analysts has identified, that increasing demand for cosmetics among the female population will support the growth of the market.
• Among region, Europe is expected to be the fastest growing market for shikimic acid during the years to come.

The quantitative data is further underlined and reinforced by comprehensive qualitative data which comprises various across-the-board market dynamics. The rationales which directly or indirectly impact the shikimic acid industry are exemplified through parameters such as growth drivers, restraints, challenges, and opportunities among other impacting factors.

Throughout our research report, we have encompassed all the proven models and tools of industry analysis and extensively illustrated all the key business strategies and business models adopted in the shikimic acid industry. The report provides an all-inclusive and detailed competitive landscape prevalent in the shikimic acid market.

The report utilizes established industry analysis tools and models such as Porter’s Five Forces framework to analyze and recognize critical business strategies adopted by various stakeholders involved in the entire value chain of the shikimic acid industry. The shikimic acid market report additionally employs SWOT analysis and PESTLE analysis models for further in-depth analysis.

The report study further includes an in-depth analysis of industry players' market shares and provides an overview of leading players' market position in the Shikimic Acid sector. Key strategic developments in the shikimic acid market competitive landscape such as acquisitions & mergers, inaugurations of different products and services, partnerships & joint ventures, MoU agreements, VC & funding activities, R&D activities, and geographic expansion among other noteworthy activities by key players of the shikimic acid market are appropriately highlighted in the report.

Shikimic acid is shikimate anionic form, cyclitol, cyclohexene, and cyclohexane carboxylic acid. In plants and microorganisms, 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, rising flu across the globe has raised the demand for this acid in pharmaceutical industries. In addition, the rising focus on research & developments in this industry to improve bio-based and natural drugs will grow the market rapidly in the coming years. However, due to its limited availability of raw materials, the market growth may get affected. Furthermore, its rising usage in the cosmetic industry and agriculture sector is significantly influencing market growth.

The shikimic acid market research report delivers an acute valuation and taxonomy of the shikimic acid industry by practically splitting the market on the basis of different types, applications, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026.

Report Scope

The regional segmentation of the shikimic acid industry includes the complete classification of all the major continents including North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Further, country-wise data for the shikimic acid industry is provided for the leading economies of the world.

The shikimic acid market is segmented based on type and application. On the basis of type segmentation, the market is classified into categorized into purity<98%, purity: 98-99%, and purity>99%. In terms of Application segmentation, the market is bifurcated into anti-inflammatory drugs, analgesic drugs, and antiviral drugs among others.

Some of the essential players operating in the shikimic acid market, but not restricted to 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.
• Roche Holding AG

The taxonomy of the shikimic acid industry by its scope and segmentation is as follows:

By Type Segmentation Analysis

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

By Application Segmentation Analysis

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

Regional Segmentation Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • Germany
  • The UK
  • France
  • Spain
  • 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