Prominent quinoline market players include Salvi Chemical Industries, Vijay Chemical Industries, Kao Corporation, Merck KGaA, Xiaoyi JinJing Chemical Co., Ltd, ABC Compounding Company, Ansteel, Steris PLC, Ecolab, and Henkel,
New York, Nov. 22, 2023 (GLOBE NEWSWIRE) -- The global quinoline market size is predicted to expand at ~4% CAGR between 2023 and 2035. The market is projected to garner a revenue of USD 545 billion by the end of 2035, up from a revenue of ~USD 340 billion in the year 2022.The growth of the market is surging on account of rising demand for food and beverages. This could be owing to rising food delivery. It is anticipated that the online meal delivery sector would have a staggering 2,655 million customers by 2026, globally. Hence, the market demand for quinoline is also expected to grow.
Additionally, the preference of people for healthy food is also growing. As a result, they are demanding food with the least color added. However, quinoline Yellow WS is not genotoxic or carcinogenic, and there is no proof that it causes any negative effects on development or reproduction. It has additionally not been linked to any substantial long-term toxicity. Hence, the demand for market revenue is surging drastically. Food coloring agents are employed extensively in many various types of meals, including carbonated drinks, salads, juices, ice creams, and sweets. Their annual worldwide turnover is close to about 7999 tons. Understanding food colorants is a highly profitable endeavor since it has been demonstrated that color accounts for between approximately 61 and 90 percent of the consumer's judgement.
Growing Population to Boost the Growth of Global Quinoline Market
After a peak of approximately 2.5 billion in 1950, the world's population expanded to 8.0 billion in mid-November 2022, with a rise of one billion since 2010 and 2 billion since 1998. This has further increased the demand food in the market. According to predictions of the Food and Agricultural Organization of the United Nations, an approximate 69% increase in global food production is required to sufficiently feed the anticipated global population by the year 2050. Hence, with this the market demand is also projected to rise.
Quinoline Market: Regional Overview
The market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Surge in Production of Pesticides to Drive the Market Growth in Asia Pacific
The quinoline market in Asia Pacific is estimated to capture the highest revenue by the end of 2035. This growth is set to be influenced by rising production of pesticides. For instance, approximately 219,000 metric tons of chemical pesticides were manufactured in China in August 2023. Quinolone is used in producing presidencies. Hence, the market revenue is this region is growing.
Growing Demand for Cosmetics to Influence the Market Expansion in North America
The North America market for quinoline is estimated to have notable growth in the market over the forecast period. This could be on account of rising demand for cosmetics. In the US, each consumer spends about USD 181 on beauty goods annually. Quinoline yellow (QY) is a derivative of chinophthalon that is applied to the skin, lips, and/or body surface in cosmetic compositions. Hence, with the growing demand for cosmetics the market for quinoline is also surging in this region.
Quinoline, Segmentation by Type
Purity Upto 99%
Purity Above 99%
The purity above 99% segment is projected to generate the largest market revenue by the end of 2035. The growth of the segment is poise to be dominated by growing demand for pharmaceutical goods. There has been surge in prevalence of tuberculosis all across the globe. Which is why the demand for quinoline is surging since it is estimated to be importance component in tuberculosis medication. Approximately 2 billion individuals worldwide, or about 24% of the total population, have tuberculosis infection; however, the majority of these cases are latent.
Quinoline, Segmentation by Application
Dyes
Metallurgical
Pharmaceutical
Pesticides
Cosmetics
Food Additives
The metallurgical segment is estimated to have notable growth over the forecast period. This growth is set to be influenced by growing production of automotive since metallurgy is used in manufacturing modern vehicles. Approximately 84 million automobiles were produced worldwide in 2022, a 4% increase from 2021.
A few of the well-known market leaders in the global quinoline market that are profiled by Research Nester are Salvi Chemical Industries, Vijay Chemical Industries, Kao Corporation, Merck KGaA, Xiaoyi JinJing Chemical Co., Ltd, ABC Compounding Company, Ansteel, Steris PLC, Ecolab, Henkel, and others.
Recent Development in the Market
The largest e-commerce portal in Japan, Rakuten Ichiba, is where Kao Corporation started selling limited-edition dry shampoo called Space Shampoo Sheet.
In comparison with 2021, Ecolab reported a 9% increase in net sales in 2022 and a 15% increase in fixed currency sales. The net income attributable to Ecolab in 2022 increased from 301 in 2021 to 264.4 in 2022, a 12% increase from 2021.
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