| Product Code: ETC13372885 | Publication Date: Apr 2025 | Updated Date: Jul 2025 | Product Type: Market Research Report | |
| Publisher: 6Wresearch | Author: Vasudha | No. of Pages: 190 | No. of Figures: 80 | No. of Tables: 40 |
According to 6Wresearch internal database and industry insights, the Global Shikimic Acid Market was valued at USD 0.46 Billion in 2024 and is expected to reach USD 0.69 Billion by 2031, growing at a compound annual growth rate of 6.50% during the forecast period (2025-2031).
The Global Shikimic Acid Market is experiencing significant growth due to the rising demand for the compound in the pharmaceutical and food industries. Shikimic acid is a key raw material for the production of oseltamivir, an important drug used in the treatment of influenza. The increasing prevalence of influenza outbreaks worldwide is driving the market growth. Additionally, shikimic acid is also being utilized in the food industry as a flavor enhancer and preservative, further boosting its market demand. Key market players are focusing on expanding their production capacities and investing in research and development to enhance product quality and explore new applications for shikimic acid. The Asia-Pacific region is expected to dominate the market, followed by North America and Europe, owing to the presence of major pharmaceutical and food industries in these regions.
The Global Shikimic Acid Market is witnessing a growing demand due to its wide applications in pharmaceuticals, cosmetics, and food industries. The increasing awareness regarding the health benefits of shikimic acid, such as its anti-inflammatory and antioxidant properties, is driving its market growth. The pharmaceutical sector is a major consumer of shikimic acid, as it is a key raw material in the production of oseltamivir, commonly known as Tamiflu, which is used to treat influenza. Additionally, the rising trend of natural and plant-based ingredients in cosmetics and personal care products is further boosting the market for shikimic acid. Opportunities in the market include expanding product applications, research and development for new formulations, and strategic partnerships to enhance production capabilities and market reach.
In the Global Shikimic Acid Market, one of the key challenges is the limited availability of raw materials. Shikimic acid is predominantly sourced from Chinese star anise, which is a seasonal crop and vulnerable to weather conditions and other external factors. This dependency on a single source can result in supply chain disruptions and price volatility. Additionally, quality control issues and varying regulations across different regions can pose challenges for manufacturers and hinder market growth. To mitigate these challenges, companies in the Shikimic Acid Market need to explore alternative sources of raw materials, establish strong supply chain relationships, and invest in research and development to improve production efficiency and quality control processes.
The global shikimic acid market is primarily driven by the increasing demand for the compound in the pharmaceutical industry for the production of antiviral drugs such as Tamiflu. Shikimic acid is a key intermediate in the synthesis of oseltamivir phosphate, the active ingredient in Tamiflu, which is widely used for the treatment of influenza. Additionally, the rising prevalence of influenza outbreaks and the growing focus on healthcare infrastructure development in emerging economies are further fueling the demand for shikimic acid. Moreover, the expanding applications of shikimic acid in the food and beverage industry as a flavoring agent and in the cosmetics industry for its anti-aging properties are also contributing to the market growth.
Government policies related to the Global Shikimic Acid Market are primarily focused on regulating the sourcing and production of shikimic acid, which is a key ingredient in the manufacturing of the antiviral medication Tamiflu. Countries like China, a major producer of shikimic acid, have implemented policies to control the harvest of the plant-based source of the compound, star anise, to prevent overexploitation and ensure sustainability. Additionally, governments may have regulations in place to monitor the quality and purity of shikimic acid produced for pharmaceutical use, aiming to maintain high standards and safety for consumers. Strict import and export regulations may also be enforced to prevent illegal trade and ensure compliance with international trade agreements in the Global Shikimic Acid Market.
The Global Shikimic Acid Market is expected to experience significant growth in the coming years due to the rising demand for the compound in various industries such as pharmaceuticals, cosmetics, and food and beverages. Shikimic acid is a key ingredient in the production of the antiviral drug Tamiflu, which has seen increased usage during outbreaks of influenza. Additionally, the growing awareness of the health benefits associated with shikimic acid, such as its antioxidant properties and potential applications in skincare products, is driving its market growth. With the increasing focus on natural and sustainable ingredients, the demand for shikimic acid sourced from plant-based materials is expected to further boost market expansion. Overall, the Global Shikimic Acid Market is poised for steady growth in the foreseeable future.
In the Global Shikimic Acid Market, Asia is expected to dominate in terms of production and consumption due to the presence of major pharmaceutical and chemical industries in countries like China and India. North America is projected to witness significant growth driven by the increasing demand for shikimic acid in the food and beverage industry. Europe is also anticipated to show steady growth, fueled by the rising awareness regarding the health benefits of shikimic acid. The Middle East and Africa region is likely to experience moderate growth attributed to the expanding pharmaceutical sector. Latin America is expected to register a notable increase in demand for shikimic acid owing to the growing application in personal care and beauty products.
Global Shikimic Acid Market |
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Global Shikimic Acid Market Overview |
3.1 Global Regional Macro Economic Indicators |
3.2 Global Shikimic Acid Market Revenues & Volume, 2021 & 2031F |
3.3 Global Shikimic Acid Market - Industry Life Cycle |
3.4 Global Shikimic Acid Market - Porter's Five Forces |
3.5 Global Shikimic Acid Market Revenues & Volume Share, By Regions, 2021 & 2031F |
3.6 Global Shikimic Acid Market Revenues & Volume Share, By Type, 2021 & 2031F |
3.7 Global Shikimic Acid Market Revenues & Volume Share, By Source, 2021 & 2031F |
3.8 Global Shikimic Acid Market Revenues & Volume Share, By Application, 2021 & 2031F |
3.9 Global Shikimic Acid Market Revenues & Volume Share, By End Use, 2021 & 2031F |
4 Global Shikimic Acid Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Global Shikimic Acid Market Trends |
6 Global Shikimic Acid Market, 2021 - 2031 |
6.1 Global Shikimic Acid Market, Revenues & Volume, By Type, 2021 - 2031 |
6.1.1 Overview & Analysis |
6.1.2 Global Shikimic Acid Market, Revenues & Volume, By Synthetic, 2021 - 2031 |
6.1.3 Global Shikimic Acid Market, Revenues & Volume, By Natural, 2021 - 2031 |
6.1.4 Global Shikimic Acid Market, Revenues & Volume, By Industrial, 2021 - 2031 |
6.1.5 Global Shikimic Acid Market, Revenues & Volume, By Food Grade, 2021 - 2031 |
6.2 Global Shikimic Acid Market, Revenues & Volume, By Source, 2021 - 2031 |
6.2.1 Overview & Analysis |
6.2.2 Global Shikimic Acid Market, Revenues & Volume, By Chemical Synthesis, 2021 - 2031 |
6.2.3 Global Shikimic Acid Market, Revenues & Volume, By Star Anise Extract, 2021 - 2031 |
6.2.4 Global Shikimic Acid Market, Revenues & Volume, By Fermentation, 2021 - 2031 |
6.2.5 Global Shikimic Acid Market, Revenues & Volume, By Plant-Based, 2021 - 2031 |
6.3 Global Shikimic Acid Market, Revenues & Volume, By Application, 2021 - 2031 |
6.3.1 Overview & Analysis |
6.3.2 Global Shikimic Acid Market, Revenues & Volume, By Pharmaceutical, 2021 - 2031 |
6.3.3 Global Shikimic Acid Market, Revenues & Volume, By Cosmetics, 2021 - 2031 |
6.3.4 Global Shikimic Acid Market, Revenues & Volume, By Agriculture, 2021 - 2031 |
6.3.5 Global Shikimic Acid Market, Revenues & Volume, By Functional Food, 2021 - 2031 |
6.3.6 Global Shikimic Acid Market, Revenues & Volume, By Biotechnology, 2021 - 2031 |
6.4 Global Shikimic Acid Market, Revenues & Volume, By End Use, 2021 - 2031 |
6.4.1 Overview & Analysis |
6.4.2 Global Shikimic Acid Market, Revenues & Volume, By Healthcare, 2021 - 2031 |
6.4.3 Global Shikimic Acid Market, Revenues & Volume, By Personal Care, 2021 - 2031 |
6.4.4 Global Shikimic Acid Market, Revenues & Volume, By Agrochemicals, 2021 - 2031 |
6.4.5 Global Shikimic Acid Market, Revenues & Volume, By Nutraceuticals, 2021 - 2031 |
6.4.6 Global Shikimic Acid Market, Revenues & Volume, By Research, 2021 - 2031 |
7 North America Shikimic Acid Market, Overview & Analysis |
7.1 North America Shikimic Acid Market Revenues & Volume, 2021 - 2031 |
7.2 North America Shikimic Acid Market, Revenues & Volume, By Countries, 2021 - 2031 |
7.2.1 United States (US) Shikimic Acid Market, Revenues & Volume, 2021 - 2031 |
7.2.2 Canada Shikimic Acid Market, Revenues & Volume, 2021 - 2031 |
7.2.3 Rest of North America Shikimic Acid Market, Revenues & Volume, 2021 - 2031 |
7.3 North America Shikimic Acid Market, Revenues & Volume, By Type, 2021 - 2031 |
7.4 North America Shikimic Acid Market, Revenues & Volume, By Source, 2021 - 2031 |
7.5 North America Shikimic Acid Market, Revenues & Volume, By Application, 2021 - 2031 |
7.6 North America Shikimic Acid Market, Revenues & Volume, By End Use, 2021 - 2031 |
8 Latin America (LATAM) Shikimic Acid Market, Overview & Analysis |
8.1 Latin America (LATAM) Shikimic Acid Market Revenues & Volume, 2021 - 2031 |
8.2 Latin America (LATAM) Shikimic Acid Market, Revenues & Volume, By Countries, 2021 - 2031 |
8.2.1 Brazil Shikimic Acid Market, Revenues & Volume, 2021 - 2031 |
8.2.2 Mexico Shikimic Acid Market, Revenues & Volume, 2021 - 2031 |
8.2.3 Argentina Shikimic Acid Market, Revenues & Volume, 2021 - 2031 |
8.2.4 Rest of LATAM Shikimic Acid Market, Revenues & Volume, 2021 - 2031 |
8.3 Latin America (LATAM) Shikimic Acid Market, Revenues & Volume, By Type, 2021 - 2031 |
8.4 Latin America (LATAM) Shikimic Acid Market, Revenues & Volume, By Source, 2021 - 2031 |
8.5 Latin America (LATAM) Shikimic Acid Market, Revenues & Volume, By Application, 2021 - 2031 |
8.6 Latin America (LATAM) Shikimic Acid Market, Revenues & Volume, By End Use, 2021 - 2031 |
9 Asia Shikimic Acid Market, Overview & Analysis |
9.1 Asia Shikimic Acid Market Revenues & Volume, 2021 - 2031 |
9.2 Asia Shikimic Acid Market, Revenues & Volume, By Countries, 2021 - 2031 |
9.2.1 India Shikimic Acid Market, Revenues & Volume, 2021 - 2031 |
9.2.2 China Shikimic Acid Market, Revenues & Volume, 2021 - 2031 |
9.2.3 Japan Shikimic Acid Market, Revenues & Volume, 2021 - 2031 |
9.2.4 Rest of Asia Shikimic Acid Market, Revenues & Volume, 2021 - 2031 |
9.3 Asia Shikimic Acid Market, Revenues & Volume, By Type, 2021 - 2031 |
9.4 Asia Shikimic Acid Market, Revenues & Volume, By Source, 2021 - 2031 |
9.5 Asia Shikimic Acid Market, Revenues & Volume, By Application, 2021 - 2031 |
9.6 Asia Shikimic Acid Market, Revenues & Volume, By End Use, 2021 - 2031 |
10 Africa Shikimic Acid Market, Overview & Analysis |
10.1 Africa Shikimic Acid Market Revenues & Volume, 2021 - 2031 |
10.2 Africa Shikimic Acid Market, Revenues & Volume, By Countries, 2021 - 2031 |
10.2.1 South Africa Shikimic Acid Market, Revenues & Volume, 2021 - 2031 |
10.2.2 Egypt Shikimic Acid Market, Revenues & Volume, 2021 - 2031 |
10.2.3 Nigeria Shikimic Acid Market, Revenues & Volume, 2021 - 2031 |
10.2.4 Rest of Africa Shikimic Acid Market, Revenues & Volume, 2021 - 2031 |
10.3 Africa Shikimic Acid Market, Revenues & Volume, By Type, 2021 - 2031 |
10.4 Africa Shikimic Acid Market, Revenues & Volume, By Source, 2021 - 2031 |
10.5 Africa Shikimic Acid Market, Revenues & Volume, By Application, 2021 - 2031 |
10.6 Africa Shikimic Acid Market, Revenues & Volume, By End Use, 2021 - 2031 |
11 Europe Shikimic Acid Market, Overview & Analysis |
11.1 Europe Shikimic Acid Market Revenues & Volume, 2021 - 2031 |
11.2 Europe Shikimic Acid Market, Revenues & Volume, By Countries, 2021 - 2031 |
11.2.1 United Kingdom Shikimic Acid Market, Revenues & Volume, 2021 - 2031 |
11.2.2 Germany Shikimic Acid Market, Revenues & Volume, 2021 - 2031 |
11.2.3 France Shikimic Acid Market, Revenues & Volume, 2021 - 2031 |
11.2.4 Rest of Europe Shikimic Acid Market, Revenues & Volume, 2021 - 2031 |
11.3 Europe Shikimic Acid Market, Revenues & Volume, By Type, 2021 - 2031 |
11.4 Europe Shikimic Acid Market, Revenues & Volume, By Source, 2021 - 2031 |
11.5 Europe Shikimic Acid Market, Revenues & Volume, By Application, 2021 - 2031 |
11.6 Europe Shikimic Acid Market, Revenues & Volume, By End Use, 2021 - 2031 |
12 Middle East Shikimic Acid Market, Overview & Analysis |
12.1 Middle East Shikimic Acid Market Revenues & Volume, 2021 - 2031 |
12.2 Middle East Shikimic Acid Market, Revenues & Volume, By Countries, 2021 - 2031 |
12.2.1 Saudi Arabia Shikimic Acid Market, Revenues & Volume, 2021 - 2031 |
12.2.2 UAE Shikimic Acid Market, Revenues & Volume, 2021 - 2031 |
12.2.3 Turkey Shikimic Acid Market, Revenues & Volume, 2021 - 2031 |
12.3 Middle East Shikimic Acid Market, Revenues & Volume, By Type, 2021 - 2031 |
12.4 Middle East Shikimic Acid Market, Revenues & Volume, By Source, 2021 - 2031 |
12.5 Middle East Shikimic Acid Market, Revenues & Volume, By Application, 2021 - 2031 |
12.6 Middle East Shikimic Acid Market, Revenues & Volume, By End Use, 2021 - 2031 |
13 Global Shikimic Acid Market Key Performance Indicators |
14 Global Shikimic Acid Market - Export/Import By Countries Assessment |
15 Global Shikimic Acid Market - Opportunity Assessment |
15.1 Global Shikimic Acid Market Opportunity Assessment, By Countries, 2021 & 2031F |
15.2 Global Shikimic Acid Market Opportunity Assessment, By Type, 2021 & 2031F |
15.3 Global Shikimic Acid Market Opportunity Assessment, By Source, 2021 & 2031F |
15.4 Global Shikimic Acid Market Opportunity Assessment, By Application, 2021 & 2031F |
15.5 Global Shikimic Acid Market Opportunity Assessment, By End Use, 2021 & 2031F |
16 Global Shikimic Acid Market - Competitive Landscape |
16.1 Global Shikimic Acid Market Revenue Share, By Companies, 2024 |
16.2 Global Shikimic Acid Market Competitive Benchmarking, By Operating and Technical Parameters |
17 Top 10 Company Profiles |
18 Recommendations |
19 Disclaimer |
Export potential enables firms to identify high-growth global markets with greater confidence by combining advanced trade intelligence with a structured quantitative methodology. The framework analyzes emerging demand trends and country-level import patterns while integrating macroeconomic and trade datasets such as GDP and population forecasts, bilateral import–export flows, tariff structures, elasticity differentials between developed and developing economies, geographic distance, and import demand projections. Using weighted trade values from 2020–2024 as the base period to project country-to-country export potential for 2030, these inputs are operationalized through calculated drivers such as gravity model parameters, tariff impact factors, and projected GDP per-capita growth. Through an analysis of hidden potentials, demand hotspots, and market conditions that are most favorable to success, this method enables firms to focus on target countries, maximize returns, and global expansion with data, backed by accuracy.
By factoring in the projected importer demand gap that is currently unmet and could be potential opportunity, it identifies the potential for the Exporter (Country) among 190 countries, against the general trade analysis, which identifies the biggest importer or exporter.
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