Acumen Research and Consulting, a global provider of market research studies, in a latest published report titled “5-hydroxymethylfurfural (5-HMF) (CAS 67-47-0) Market (Type; Industrial Grade, Food Grade; Application: Flavor & Fragrance Industry, Pharmaceutical Industry, Others) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2025”, estimates that global 5-hydroxymethylfurfural (5-HMF) (CAS 67-47-0) market is expected to reach the market value of around $71 million by 2025 and is projected to rise at a CAGR of around 4% in terms of revenue amid the forecasting period 2018 - 2025. The demand for 5-hydroxymethylfurfural (5-HMF) (CAS 67-47-0) has steeply risen with booming demand of consumer supplies.
Industrial Grade Segment was the Front Runner In 2017
The first classification of consumers can be made on the basis of type of 5-hydroxymethylfurfural product for which they opt for from among the available options. Based on different consumer preferences, the largest market segment that stood out was industrial grade 5-HMF. HMF is a very versatile platform chemical and is intensively used in research & development. It finds applications well beyond bio-plastics or bio-based resins.
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5-HMF has been used for food analysis as a marker substance for quality assessment, for instance, in the analysis of wine or honey, where high 5-HMF levels arise when these products undertake an extended period of storage or overheating through the production process. Besides, it is used as a food additive as it has positive effects in health aspects. HMF is classified as a food enhancement agent and is mainly used in food business in form of a food additive as a biomarker as well as flavoring substances for food products. All these applications of 5-HMG in food industry are driving the demand for food grade 5-HMF.
In terms of consumer penetration into different geographies, Asia-Pacific was the largest regional market for 5-hydroxymethylfurfural, led by production base in China; high demand from food, pharmaceutical, and flavor and fragrance industries. Europe represents one of the mature markets for 5-hydroxymethylfurfural where both production and consumer penetration is high however, the region is further expected to witness surge in its market share over the forecast period. North America followed Europe in terms of market share and the region is anticipated to showcase strong growth prospects in the coming years. Asia-Pacific is the fastest growing regional market led by demand from countries such as India, China, Japan, and Southeast Asian countries.
Insights on Market Segment
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Global 5-hydroxymethylfurfural (5-HMF) (CAS 67-47-0) market is segmented by type, application and geography. Based on different types, the market is segmented into industrial grade, food grade. Also, by application, 5-hydroxymethylfurfural (5-HMF) (CAS 67-47-0) market is further bifurcated into flavor & fragrance industry, pharmaceutical industry, others. Based on geography market is further classified into North America, Europe, Asia Pacific, Rest of World.
5-hydroxymethylfurfural can be classified based on their application into flavor & fragrance industry, pharmaceutical industry, and other applications. The flavor & fragrance industry application segment accounted for largest consumption share of around 40% in the global 5-hydroxymethylfurfural market in 2017, led by expanding use of 5-HMF as an ingredient to improve fragrance and flavor. Further, it is also being used in fragrance industry as an aromatic agent. 5-HMF has varied uses in the pharmaceutical industry which are driving its demand in the global market. For instance, the ability of 5-HMF due to its structure to bind with hemoglobin and exert a positive influence on the binding capability of oxygen is a possible treatment for sickle cell anemia. 5-HMF as a carbonyl compound can bind free ammonia and amines and eliminate them straight in the metabolism process. This capability of 5-HMF to advance the supply of oxygen to tissues and counteract oxidative stress, has been proven in a range of studies. The use of 5-HMF can therefore improve physical and mental performance.
The major players profiled in the report include Robinson Brothers, Xuzhou Ruisai Technology, AVA Biochem AG, Wutong Aroma Chemicals, Penta Manufacturer, Treatt (PVT) LTD., Ningbo Boes Biotechnology Co., Beijing Lys Chemicals GmbH, and others.
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