Hydroxymethylfurfural (HMF) also known as 5-HMF (hydroxymethylfufural) is an organic compound and a versatile platform chemical which consists furan ring and is highly soluble in water as well as organic solvents. It is formed by dehydrating certain sugars. The yellow- low melting solid is often found naturally in a wide range of heat- processed foods such as honey, spirits, and milk and so on. The market of 5- hydroxymethylfurfural (5- HMF) is segmented on the basis of type, geography and application. In terms of type the market can be classified into industrial grade and food grade. While discussing about the geographical segmentation, the markets include North America, Europe, Asia Pacific and Rest of the World. Lastly, based on its application the 5-HMF market can be differentiated into flavor & fragrance industry, pharmaceutical industry and others.
Its various uses can be attributed to its growing demand all over. Its applications extend over bio- plastics and bio- based resins while talking about its largest market segment which is the industrial segment. In case of food grade segment 5-HMF is used as a marker for quality assessment, a food additive, and enhancement and flavoring agent. Its health benefits are boosting demand for food grade 5- HMF. The pharmaceutical industry’s demand for 5- HMF cannot be ignored.
Pertaining to the demand of 5- HMF from all these segments the market value is all set to reach $71 million by 2025 according to reports. In the forecasting period of 2018- 2025 the CAGR is estimated to rise around 4% with relation to revenue.
Here are more points which explain about the 5- HMF market:
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