Pyruvic Acid Market Size

Pyruvic Acid Market size is anticipated to reach USD 88 Million by the end of 2036, growing at a CAGR of 5% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of pyruvic acid was USD 50 Million. Pyruvic acid was being investigated by the pharmaceutical industry for application in the manufacture of many medications and pharmaceutical intermediates.

The pyruvic acid market is expanding as a result of raising overall production capacity and satisfying the expanding demand from different sectors. Also, it serves as an ingredient or precursor in the manufacturing of some drugs, such as those used to treat neurological, cardiovascular, and metabolic conditions. With 928,741 deaths from cardiovascular disease (CVD) in 2020, it is still the top cause of mortality in the US. Therefore, the prevalence of these diseases is propelling the growth of the market.

In addition, new applications and formulations of pyruvic acid are discovered through continuous research and development efforts. Innovation in production processes and product development further propels market growth by broadening the range of industries and applications in which pyruvic acid can be used. Additionally, the expansion of distribution networks allows pyruvic acid manufacturers to reach new markets and seize emerging opportunities.