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レポート概要
本調査レポートでは、ジグリセリドの世界市場を広く調査・分析し、今後の市場展望をまとめております。ジグリセリドの種類別市場規模(医薬品用、工業用)、用途別市場規模(医学、化学工業、その他)、地域別市場規模(北米、アメリカ、ヨーロッパ、アジア、中国、日本、東南アジア、南米、中東、アフリカなど)、市場動向、メーカー別販売量と市場シェア、販売チャネルなどの情報を掲載しています。 ・市場概要 ・メーカー情報(販売量、市場シェア、製品概要、SWOT分析):BASF、Lonza、Palsgaard ・地域別グローバル市場分析 2015年-2020年 ・ジグリセリドの北米市場(アメリカ、カナダ、メキシコ) ・ジグリセリドのヨーロッパ市場(ドイツ、イギリス、フランス、ロシア、イタリア) ・ジグリセリドのアジア市場(中国、日本、韓国、インド、東南アジア、オーストラリア) ・ジグリセリドの南米市場(ブラジル、アルゼンチン) ・ジグリセリドの中東・アフリカ市場(サウジアラビア、トルコ、エジプト、南アフリカ) ・種類別分析:医薬品用、工業用 ・用途別分析:医学、化学工業、その他 ・地域別市場規模予測 2021年-2025年 ・販売チャネル、流通業者、代理店 ・調査の結果・結論 |
Market Overview
The global Diglyceride market size is expected to gain market growth in the forecast period of 2020 to 2025, with a CAGR of xx% in the forecast period of 2020 to 2025 and will expected to reach USD xx million by 2025, from USD xx million in 2019.
The Diglyceride market report provides a detailed analysis of global market size, regional and country-level market size, segmentation market growth, market share, competitive Landscape, sales analysis, impact of domestic and global market players, value chain optimization, trade regulations, recent developments, opportunities analysis, strategic market growth analysis, product launches, area marketplace expanding, and technological innovations.
Market segmentation
Diglyceride market is split by Type and by Application. For the period 2015-2025, the growth among segments provide accurate calculations and forecasts for sales by Type and by Application in terms of volume and value. This analysis can help you expand your business by targeting qualified niche markets.
By Type, Diglyceride market has been segmented into
Pharmaceutical Grade
Industrial Grade
By Application, Diglyceride has been segmented into:
Medicine
Chemical Industry
Others
Regions and Countries Level Analysis
Regional analysis is another highly comprehensive part of the research and analysis study of the global Diglyceride market presented in the report. This section sheds light on the sales growth of different regional and country-level Diglyceride markets. For the historical and forecast period 2015 to 2025, it provides detailed and accurate country-wise volume analysis and region-wise market size analysis of the global Diglyceride market.
The report offers in-depth assessment of the growth and other aspects of the Diglyceride market in important countries (regions), including:
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, etc.)
Middle East & Africa (Saudi Arabia, Egypt, Nigeria and South Africa)
Competitive Landscape and Diglyceride Market Share Analysis
Diglyceride competitive landscape provides details by vendors, including company overview, company total revenue (financials), market potential, global presence, Diglyceride sales and revenue generated, market share, price, production sites and facilities, SWOT analysis, product launch. For the period 2015-2020, this study provides the Diglyceride sales, revenue and market share for each player covered in this report.
The major players covered in Diglyceride are:
BASF
Lonza
Palsgaard
Among other players domestic and global, Diglyceride market share data is available for global, North America, Europe, Asia-Pacific, Middle East and Africa and South America separately. Global Info Research analysts understand competitive strengths and provide competitive analysis for each competitor separately.
The content of the study subjects, includes a total of 15 chapters:
Chapter 1, to describe Diglyceride product scope, market overview, market opportunities, market driving force and market risks.
Chapter 2, to profile the top manufacturers of Diglyceride, with price, sales, revenue and global market share of Diglyceride in 2018 and 2019.
Chapter 3, the Diglyceride competitive situation, sales, revenue and global market share of top manufacturers are analyzed emphatically by landscape contrast.
Chapter 4, the Diglyceride breakdown data are shown at the regional level, to show the sales, revenue and growth by regions, from 2015 to 2020.
Chapter 5, 6, 7, 8 and 9, to break the sales data at the country level, with sales, revenue and market share for key countries in the world, from 2015 to 2020.
Chapter 10 and 11, to segment the sales by type and application, with sales market share and growth rate by type, application, from 2015 to 2020.
Chapter 12, Diglyceride market forecast, by regions, type and application, with sales and revenue, from 2020 to 2025.
Chapter 13, 14 and 15, to describe Diglyceride sales channel, distributors, customers, research findings and conclusion, appendix and data source.
Table of Contents
1 Market Overview
1.1 Diglyceride Introduction
1.2 Market Analysis by Type
1.2.1 Overview: Global Diglyceride Revenue by Type: 2015 VS 2019 VS 2025
1.2.2 Pharmaceutical Grade
1.2.3 Industrial Grade
1.3 Market Analysis by Application
1.3.1 Overview: Global Diglyceride Revenue by Application: 2015 VS 2019 VS 2025
1.3.2 Medicine
1.3.3 Chemical Industry
1.3.4 Others
1.4 Overview of Global Diglyceride Market
1.4.1 Global Diglyceride Market Status and Outlook (2015-2025)
1.4.2 North America (United States, Canada and Mexico)
1.4.3 Europe (Germany, France, United Kingdom, Russia and Italy)
1.4.4 Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
1.4.5 South America, Middle East & Africa
1.5 Market Dynamics
1.5.1 Market Opportunities
1.5.2 Market Risk
1.5.3 Market Driving Force
2 Manufacturers Profiles
2.1 BASF
2.1.1 BASF Details
2.1.2 BASF Major Business and Total Revenue (Financial Highlights) Analysis
2.1.3 BASF SWOT Analysis
2.1.4 BASF Product and Services
2.1.5 BASF Diglyceride Sales, Price, Revenue, Gross Margin and Market Share (2018-2019)
2.2 Lonza
2.2.1 Lonza Details
2.2.2 Lonza Major Business and Total Revenue (Financial Highlights) Analysis
2.2.3 Lonza SWOT Analysis
2.2.4 Lonza Product and Services
2.2.5 Lonza Diglyceride Sales, Price, Revenue, Gross Margin and Market Share (2018-2019)
2.3 Palsgaard
2.3.1 Palsgaard Details
2.3.2 Palsgaard Major Business and Total Revenue (Financial Highlights) Analysis
2.3.3 Palsgaard SWOT Analysis
2.3.4 Palsgaard Product and Services
2.3.5 Palsgaard Diglyceride Sales, Price, Revenue, Gross Margin and Market Share (2018-2019)
3 Sales, Revenue and Market Share by Manufacturer
3.1 Global Diglyceride Sales and Market Share by Manufacturer (2018-2019)
3.2 Global Diglyceride Revenue and Market Share by Manufacturer (2018-2019)
3.3 Market Concentration Rate
3.3.1 Top 3 Diglyceride Manufacturer Market Share in 2019
3.3.2 Top 6 Diglyceride Manufacturer Market Share in 2019
3.4 Market Competition Trend
4 Global Market Analysis by Regions
4.1 Global Diglyceride Sales, Revenue and Market Share by Regions
4.1.1 Global Diglyceride Sales and Market Share by Regions (2015-2020)
4.1.2 Global Diglyceride Revenue and Market Share by Regions (2015-2020)
4.2 North America Diglyceride Sales and Growth Rate (2015-2020)
4.3 Europe Diglyceride Sales and Growth Rate (2015-2020)
4.4 Asia-Pacific Diglyceride Sales and Growth Rate (2015-2020)
4.5 South America Diglyceride Sales and Growth Rate (2015-2020)
4.6 Middle East and Africa Diglyceride Sales and Growth Rate (2015-2020)
5 North America by Country
5.1 North America Diglyceride Sales, Revenue and Market Share by Country
5.1.1 North America Diglyceride Sales and Market Share by Country (2015-2020)
5.1.2 North America Diglyceride Revenue and Market Share by Country (2015-2020)
5.2 United States Diglyceride Sales and Growth Rate (2015-2020)
5.3 Canada Diglyceride Sales and Growth Rate (2015-2020)
5.4 Mexico Diglyceride Sales and Growth Rate (2015-2020)
6 Europe by Country
6.1 Europe Diglyceride Sales, Revenue and Market Share by Country
6.1.1 Europe Diglyceride Sales and Market Share by Country (2015-2020)
6.1.2 Europe Diglyceride Revenue and Market Share by Country (2015-2020)
6.2 Germany Diglyceride Sales and Growth Rate (2015-2020)
6.3 UK Diglyceride Sales and Growth Rate (2015-2020)
6.4 France Diglyceride Sales and Growth Rate (2015-2020)
6.5 Russia Diglyceride Sales and Growth Rate (2015-2020)
6.6 Italy Diglyceride Sales and Growth Rate (2015-2020)
7 Asia-Pacific by Regions
7.1 Asia-Pacific Diglyceride Sales, Revenue and Market Share by Regions
7.1.1 Asia-Pacific Diglyceride Sales and Market Share by Regions (2015-2020)
7.1.2 Asia-Pacific Diglyceride Revenue and Market Share by Regions (2015-2020)
7.2 China Diglyceride Sales and Growth Rate (2015-2020)
7.3 Japan Diglyceride Sales and Growth Rate (2015-2020)
7.4 Korea Diglyceride Sales and Growth Rate (2015-2020)
7.5 India Diglyceride Sales and Growth Rate (2015-2020)
7.6 Southeast Asia Diglyceride Sales and Growth Rate (2015-2020)
7.7 Australia Diglyceride Sales and Growth Rate (2015-2020)
8 South America by Country
8.1 South America Diglyceride Sales, Revenue and Market Share by Country
8.1.1 South America Diglyceride Sales and Market Share by Country (2015-2020)
8.1.2 South America Diglyceride Revenue and Market Share by Country (2015-2020)
8.2 Brazil Diglyceride Sales and Growth Rate (2015-2020)
8.3 Argentina Diglyceride Sales and Growth Rate (2015-2020)
9 Middle East & Africa by Countries
9.1 Middle East & Africa Diglyceride Sales, Revenue and Market Share by Country
9.1.1 Middle East & Africa Diglyceride Sales and Market Share by Country (2015-2020)
9.1.2 Middle East & Africa Diglyceride Revenue and Market Share by Country (2015-2020)
9.2 Saudi Arabia Diglyceride Sales and Growth Rate (2015-2020)
9.3 Turkey Diglyceride Sales and Growth Rate (2015-2020)
9.4 Egypt Diglyceride Sales and Growth Rate (2015-2020)
9.5 South Africa Diglyceride Sales and Growth Rate (2015-2020)
10 Market Segment by Type
10.1 Global Diglyceride Sales and Market Share by Type (2015-2020)
10.2 Global Diglyceride Revenue and Market Share by Type (2015-2020)
10.3 Global Diglyceride Price by Type (2015-2020)
11 Global Diglyceride Market Segment by Application
11.1 Global Diglyceride Sales Market Share by Application (2015-2020)
11.2 Global Diglyceride Revenue Market Share by Application (2015-2020)
11.3 Global Diglyceride Price by Application (2015-2020)
12 Market Forecast
12.1 Global Diglyceride Sales, Revenue and Growth Rate (2021-2025)
12.2 Diglyceride Market Forecast by Regions (2021-2025)
12.2.1 North America Diglyceride Market Forecast (2021-2025)
12.2.2 Europe Diglyceride Market Forecast (2021-2025)
12.2.3 Asia-Pacific Diglyceride Market Forecast (2021-2025)
12.2.4 South America Diglyceride Market Forecast (2021-2025)
12.2.5 Middle East & Africa Diglyceride Market Forecast (2021-2025)
12.3 Diglyceride Market Forecast by Type (2021-2025)
12.3.1 Global Diglyceride Sales Forecast by Type (2021-2025)
12.3.2 Global Diglyceride Market Share Forecast by Type (2021-2025)
12.4 Diglyceride Market Forecast by Application (2021-2025)
12.4.1 Global Diglyceride Sales Forecast by Application (2021-2025)
12.4.2 Global Diglyceride Market Share Forecast by Application (2021-2025)
13 Sales Channel, Distributors, Traders and Dealers
13.1 Sales Channel
13.1.1 Direct Marketing
13.1.2 Indirect Marketing
13.2 Distributors, Traders and Dealers
14 Research Findings and Conclusion
15 Appendix
15.1 Methodology
15.2 Data Source
15.3 Disclaimer
15.4 About US
Table 1. Global Diglyceride Revenue (USD Million) by Type: 2015 VS 2019 VS 2025
Table 2. Breakdown of Diglyceride by Company Type (Tier 1, Tier 2 and Tier 3)
Table 3. Global Diglyceride Revenue (USD Million) by Application: 2015 VS 2019 VS 2025
Table 4. Market Opportunities in Next Few Years
Table 5. Market Risks Analysis
Table 6. Market Drivers
Table 7. BASF Basic Information, Manufacturing Base and Competitors
Table 8. BASF Diglyceride Major Business
Table 9. BASF Diglyceride Total Revenue (USD Million) (2018-2019)
Table 10. BASF SWOT Analysis
Table 11. BASF Diglyceride Product and Services
Table 12. BASF Diglyceride Sales, Price, Revenue, Gross Margin and Market Share (2018-2019)
Table 13. Lonza Basic Information, Manufacturing Base and Competitors
Table 14. Lonza Diglyceride Major Business
Table 15. Lonza Diglyceride Total Revenue (USD Million) (2018-2019)
Table 16. Lonza SWOT Analysis
Table 17. Lonza Diglyceride Product and Services
Table 18. Lonza Diglyceride Sales, Price, Revenue, Gross Margin and Market Share (2018-2019)
Table 19. Palsgaard Basic Information, Manufacturing Base and Competitors
Table 20. Palsgaard Diglyceride Major Business
Table 21. Palsgaard Diglyceride Total Revenue (USD Million) (2018-2019)
Table 22. Palsgaard SWOT Analysis
Table 23. Palsgaard Diglyceride Product and Services
Table 24. Palsgaard Diglyceride Sales, Price, Revenue, Gross Margin and Market Share (2018-2019)
Table 25. Global Diglyceride Sales by Manufacturer (2018-2019) (K MT)
Table 26. Global Diglyceride Revenue by Manufacturer (2018-2019) (USD Million)
Table 27. Global Diglyceride Sales by Regions (2015-2020) (K MT)
Table 28. Global Diglyceride Sales Market Share by Regions (2015-2020)
Table 29. Global Diglyceride Revenue by Regions (2015-2020) (USD Million)
Table 30. North America Diglyceride Sales by Countries (2015-2020) (K MT)
Table 31. North America Diglyceride Sales Market Share by Countries (2015-2020)
Table 32. North America Diglyceride Revenue by Countries (2015-2020) (USD Million)
Table 33. North America Diglyceride Revenue Market Share by Countries (2015-2020)
Table 34. Europe Diglyceride Sales by Countries (2015-2020) (K MT)
Table 35. Europe Diglyceride Sales Market Share by Countries (2015-2020)
Table 36. Europe Diglyceride Revenue by Countries (2015-2020) (USD Million)
Table 37. Asia-Pacific Diglyceride Sales by Regions (2015-2020) (K MT)
Table 38. Asia-Pacific Diglyceride Sales Market Share by Regions (2015-2020)
Table 39. Asia-Pacific Diglyceride Revenue by Regions (2015-2020) (USD Million)
Table 40. South America Diglyceride Sales by Countries (2015-2020) (K MT)
Table 41. South America Diglyceride Sales Market Share by Countries (2015-2020)
Table 42. South America Diglyceride Revenue by Countries (2015-2020) (USD Million)
Table 43. South America Diglyceride Revenue Market Share by Countries (2015-2020)
Table 44. Middle East & Africa Diglyceride Sales by Countries (2015-2020) (K MT)
Table 45. Middle East & Africa Diglyceride Sales Market Share by Countries (2015-2020)
Table 46. Middle East & Africa Diglyceride Revenue by Countries (2015-2020) (USD Million)
Table 47. Middle East & Africa Diglyceride Revenue Market Share by Countries (2015-2020)
Table 48. Global Diglyceride Sales by Type (2015-2020) (K MT)
Table 49. Global Diglyceride Sales Share by Type (2015-2020)
Table 50. Global Diglyceride Revenue by Type (2015-2020) (USD Million)
Table 51. Global Diglyceride Revenue Share by Type (2015-2020)
Table 52. Global Diglyceride Sales by Application (2015-2020) (K MT)
Table 53. Global Diglyceride Sales Share by Application (2015-2020)
Table 54. Global Diglyceride Sales Forecast by Regions (2021-2025) (K MT)
Table 55. Global Diglyceride Market Share Forecast by Regions (2021-2025)
Table 56. Global Diglyceride Sales Forecast by Type (2021-2025) (K MT)
Table 57. Global Diglyceride Market Share Forecast by Type (2021-2025)
Table 58. Global Diglyceride Sales Forecast by Application (2021-2025)
Table 59. Global Diglyceride Market Share Forecast by Application (2021-2025)
Table 60. Direct Channel Pros & Cons
Table 61. Indirect Channel Pros & Cons
Table 62. Distributors/Traders/ Dealers List
List of Figures
Figure 1. Diglyceride Picture
Figure 2. Global Sales Market Share of Diglyceride by Type in 2019
Figure 3. Pharmaceutical Grade Picture
Figure 4. Industrial Grade Picture
Figure 5. Diglyceride Sales Market Share by Application in 2018
Figure 6. Medicine Picture
Figure 7. Chemical Industry Picture
Figure 8. Others Picture
Figure 9. Global Diglyceride Market Status and Outlook (2015-2025) (USD Million)
Figure 10. United States Diglyceride Revenue (Value) and Growth Rate (2015-2025)
Figure 11. Canada Diglyceride Revenue (Value) and Growth Rate (2015-2025)
Figure 12. Mexico Diglyceride Revenue (Value) and Growth Rate (2015-2025)
Figure 13. Germany Diglyceride Revenue (Value) and Growth Rate (2015-2025)
Figure 14. France Diglyceride Revenue (Value) and Growth Rate (2015-2025)
Figure 15. UK Diglyceride Revenue (Value) and Growth Rate (2015-2025)
Figure 16. Russia Diglyceride Revenue (Value) and Growth Rate (2015-2025)
Figure 17. Italy Diglyceride Revenue (Value) and Growth Rate (2015-2025)
Figure 18. China Diglyceride Revenue (Value) and Growth Rate (2015-2025)
Figure 19. Japan Diglyceride Revenue (Value) and Growth Rate (2015-2025)
Figure 20. Korea Diglyceride Revenue (Value) and Growth Rate (2015-2025)
Figure 21. India Diglyceride Revenue (Value) and Growth Rate (2015-2025)
Figure 22. Southeast Asia Diglyceride Revenue (Value) and Growth Rate (2015-2025)
Figure 23. Australia Diglyceride Revenue (Value) and Growth Rate (2015-2025) (USD Million)
Figure 24. Brazil Diglyceride Revenue (Value) and Growth Rate (2015-2025)
Figure 25. Egypt Diglyceride Revenue (Value) and Growth Rate (2015-2025)
Figure 26. Saudi Arabia Diglyceride Revenue (Value) and Growth Rate (2015-2025)
Figure 27. South Africa Diglyceride Revenue (Value) and Growth Rate (2015-2025)
Figure 28. Turkey Diglyceride Revenue (Value) and Growth Rate (2015-2025)
Figure 29. Global Diglyceride Sales Market Share by Manufacturer in 2019
Figure 30. Global Diglyceride Revenue Market Share by Manufacturer in 2019
Figure 31. Top 3 Diglyceride Manufacturer (Revenue) Market Share in 2019
Figure 32. Top 6 Diglyceride Manufacturer (Revenue) Market Share in 2019
Figure 33. Key Manufacturer Market Share Trend
Figure 34. Global Diglyceride Sales and Growth Rate (2015-2020) (K MT)
Figure 35. Global Diglyceride Revenue and Growth Rate (2015-2020) (USD Million)
Figure 36. Global Diglyceride Revenue Market Share by Regions (2015-2020)
Figure 37. Global Diglyceride Revenue Market Share by Regions in 2018
Figure 38. North America Diglyceride Sales and Growth Rate (2015-2020)
Figure 39. Europe Diglyceride Sales and Growth Rate (2015-2020)
Figure 40. Asia-Pacific Diglyceride Sales and Growth Rate (2015-2020)
Figure 41. South America Diglyceride Sales and Growth Rate (2015-2020)
Figure 42. Middle East & Africa Diglyceride Sales and Growth Rate (2015-2020)
Figure 43. North America Diglyceride Revenue and Growth Rate (2015-2020) (USD Million)
Figure 44. North America Diglyceride Sales Market Share by Countries (2015-2020)
Figure 45. North America Diglyceride Sales Market Share by Countries in 2018
Figure 46. North America Diglyceride Revenue Market Share by Countries (2015-2020) (USD Million)
Figure 47. North America Diglyceride Revenue Market Share by Countries in 2018
Figure 48. United States Diglyceride Sales and Growth Rate (2015-2020) (K MT)
Figure 49. Canada Diglyceride Sales and Growth Rate (2015-2020) (K MT)
Figure 50. Mexico Diglyceride Sales and Growth Rate (2015-2020) (K MT)
Figure 51. Europe Diglyceride Revenue and Growth Rate (2015-2020) (USD Million)
Figure 52. Europe Diglyceride Revenue Market Share by Countries (2015-2020)
Figure 53. Europe Diglyceride Revenue Market Share by Countries in 2019
Figure 54. Germany Diglyceride Sales and Growth Rate (2015-2020) (K MT)
Figure 55. UK Diglyceride Sales and Growth Rate (2015-2020) (K MT)
Figure 56. France Diglyceride Sales and Growth Rate (2015-2020) (K MT)
Figure 57. Russia Diglyceride Sales and Growth Rate (2015-2020) (K MT)
Figure 58. Italy Diglyceride Sales and Growth Rate (2015-2020) (K MT)
Figure 59. Asia-Pacific Diglyceride Revenue and Growth Rate (2015-2020) (USD Million)
Figure 60. Asia-Pacific Diglyceride Sales Market Share by Regions 2019
Figure 61. Asia-Pacific Diglyceride Revenue Market Share by Regions 2019
Figure 62. China Diglyceride Sales and Growth Rate (2015-2020) (K MT)
Figure 63. Japan Diglyceride Sales and Growth Rate (2015-2020) (K MT)
Figure 64. Korea Diglyceride Sales and Growth Rate (2015-2020) (K MT)
Figure 65. India Diglyceride Sales and Growth Rate (2015-2020) (K MT)
Figure 66. Southeast Asia Diglyceride Sales and Growth Rate (2015-2020) (K MT)
Figure 67. South America Diglyceride Revenue and Growth Rate (2015-2020) (USD Million)
Figure 68. South America Diglyceride Sales Market Share by Countries in 2019
Figure 69. South America Diglyceride Revenue Market Share by Countries in 2019
Figure 70. Brazil Diglyceride Sales and Growth Rate (2015-2020) (K MT)
Figure 71. Argentina Diglyceride Sales and Growth Rate (2015-2020) (K MT)
Figure 72. Middle East and Africa Diglyceride Revenue and Growth Rate (2015-2020) (USD Million)
Figure 73. Middle East and Africa Diglyceride Sales Market Share by Countries in 2019
Figure 74. Middle East and Africa Diglyceride Revenue Market Share by Countries (2015-2020)
Figure 75. Middle East and Africa Diglyceride Revenue Market Share by Countries in 2019
Figure 76. Saudi Arabia Diglyceride Sales and Growth Rate (2015-2020) (K MT)
Figure 77. Egypt Diglyceride Sales and Growth Rate (2015-2020) (K MT)
Figure 78. Turkey Diglyceride Sales and Growth Rate (2015-2020) (K MT)
Figure 79. South Africa Diglyceride Sales and Growth Rate (2015-2020) (K MT)
Figure 80. Global Diglyceride Sales and Growth Rate (2021-2025) (K MT)
Figure 81. Global Diglyceride Revenue and Growth Rate (2021-2025) (USD Million)
Figure 82. North America Sales Diglyceride Market Forecast (2021-2025) (K MT)
Figure 83. Europe Sales Diglyceride Market Forecast (2021-2025) (K MT)
Figure 84. Asia-Pacific Sales Diglyceride Market Forecast (2021-2025) (K MT)
Figure 85. South America Sales Diglyceride Market Forecast (2021-2025) (K MT)
Figure 86. Middle East & Africa Sales Diglyceride Market Forecast (2021-2025) (K MT)
Figure 87. Sales Channel: Direct Channel vs Indirect Channel