Shikimic Acid Market Set to Grow USD 2080 Million by 2026
According to the report, 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 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. 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.
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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., and Roche Holding AG among others.
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