Roofing Tiles Market Size | Share, Value, CAGR, Analysis, Application , Forecast, Review
Market Highlights
Global Sugarcane Wax Market Size is estimated to
reach a value of USD 55.7 Million by 2025, registering
a CAGR of 3.87%.
The global market growth is primarily
driven by the rising demand for sugarcane wax in the food industry,
particularly in fruit & vegetable processing, chewing gum, and chocolate
products. Additionally, the growing pharmaceutical industry with increased spending
on dietary supplements is expected to fuel the demand for sugarcane wax at a
substantial rate during the review period. Furthermore, the growing popularity
of organic and natural cosmetics products on account of increasing awareness
about the benefits of natural products is likely to create lucrative
opportunities for market players during the review period. Increasing demand
for sugarcane wax as an alternative to candelilla wax, carnauba wax, and
chitosan for edible coating of fruits and vegetables, is expected to upsurge
its demand during the forecast period. Market participants are investing in
R&D activities for the development of economic and sustainable production
processes of sugarcane wax and improving the economy of recovering and refining
the wax likely to create an opportunity for the market participants during the
forecast period. For instance, since 2018, Sucrochem (PTY) Ltd (South Africa)
is making efforts toward R&D of sugarcane wax through sustainable
approaches.
Segment Analysis
Global Sugarcane Wax Market size has been segmented
on the basis of Application and Region.
On the basis of application, the global
market is segmented into pharmaceuticals, food, textile & leather,
cosmetics, and others. The pharmaceuticals segment accounted for the largest
market share of 36.6% in 2018, and was valued at USD 15.7 million; it is
expected to register a CAGR of 3.7% during the forecast period. The growth of
the segment is attributed to the increasing awareness about the advantages of
sugarcane wax extracts on health and the ongoing research in the medical field.
Moreover, the policosanol and octacosanol derived from sugarcane wax extract
are widely used as supplements owing to their lipid-lowering property in
animals and humans. However, cosmetics is the fastest-growing application
segment of sugarcane wax. The growth of the market is attributed to the
increasing demand for natural and bio-based products in the cosmetics industry.
Regional Analysis
Global Sugarcane Wax Market,
by region, has been segmented into Asia-Pacific, North America, Europe, Middle
East & Africa, and Latin America.
The European market accounted for the largest
market share of 35.5% in 2018 and is expected to grow at 2.8% CAGR during the
review period. The growth of the regional market can be attributed to the
strong presence of chocolates, pharmaceuticals, and personal care &
cosmetic industries. The market in Asia-Pacific accounted for the
second-largest share in 2018 and is expected to register the highest CAGR of
5.18% during the review period. The regional market is expected to be driven by
the rapid growth of the major end-use industries and socio-economic factors
such as increasing disposable income, changing lifestyles, increasing
urbanization, and increase in consumption of dietary supplements as a result of
rising health awareness.
Access Report Details @ https://www.marketresearchfuture.com/reports/sugarcane-wax-market-10104
Prominent
Players
Market Research Future (MRFR) recognizes CERAX
(South Africa), DEUREX AG (Europe), Origen chemicals (South Africa), Godavari
Biorefineries (India), and Huzhou Shengtao Biotech LLC (China) as some to
the Prominent Players in the Global Sugarcane Wax Market.
Key
Findings of the Study
- The Global Sugarcane Wax Market is
projected to register a CAGR of 3.9% during the forecast period to
reach USD 55.7 million by 2025.
- Europe accounted for the largest
share of the global sugarcane wax market in 2018, however Asia-Pacific to
register the fastest regional growth.
- By application, the pharmaceutical
segment accounted for the largest market share in 2018, while cosmetics is
the fastest-growing application segment of sugarcane wax.
Get a Sample Report Now: https://www.marketresearchfuture.com/sample_request/10104
About
Market Research Future:
At
Market Research Future (MRFR), we enable our customers to unravel the
complexity of various industries through our Cooked Research Report (CRR),
Half-Cooked Research Reports (HCRR), & Consulting Services.
MRFR
team have supreme objective to provide the optimum quality market research and
intelligence services to our clients. Our market research studies by products,
services, technologies, applications, end users, and market players for global,
regional, and country level market segments, enable our clients to see more,
know more, and do more, which help to answer all their most important
questions.
In
order to stay updated with technology and work process of the industry, MRFR
often plans & conducts meet with the industry experts and industrial visits
for its research analyst members.
Contact:
Market
Research Future®
99
Hudson Street,5Th Floor
New
York, New York 10013
United
States of America
Phone:
+1
628 258 0071(US)
+44
2035 002 764(UK)
Email: sales@marketresearchfuture.com
Website: https://www.marketresearchfuture.com
Related Report:
https://www.marketresearchfuture.com/reports/polyvinylpyrrolidone-market-5891
https://www.marketresearchfuture.com/reports/aluminum-trihydrate-market-5922
https://www.marketresearchfuture.com/reports/tile-adhesive-market-1731
Comments
Post a Comment