Global propyl gallate market is set to exceed $533.3 million by 2031, and to grow at a CAGR of 6.8% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
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By region, Asia-Pacific held the major share in 2021, generating nearly two-fifths of the global propyl gallate market. The same region would also garner the fastest CAGR of 7.3% by 2031. The other provinces analyzed in the report include Europe, North America, and LAMEA.
By end-use industry, the food industry segment generated the major share in 2021, holding nearly two-fifths of the global market, and is projected to dominate throughout the forecast period. The same segment would also cite the fastes CAGR of 7.2% by 2031. The other segments assessed through the report include lubricants, adhesives, and personal care & cosmetics.
Based on grade, the industrial grade segment held nearly two-thirds of the global propyl gallate market revenue in 2021, and is expected to lead the trail by 2031. The same segment would also manifest the fastest CAGR of 6.9% from 2022 to 2031. The pharmaceutical grade segment is also analyzed through the report.
The global propyl gallate market is analyzed across grade, end-use industry, and region. The report takes in an exhaustive analysis of segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.
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Covid-19 Scenario-
- Increase in demand for medical-grade products and processed food enhanced the demand for propyl gallate as an antioxidant and food additive during the Covid-19 pandemic.
- This trend is still likely to continue even after the pandemic is almost gone
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