NEW YORK, March 9, 2021 /PRNewswire/ -- The ethyl acetate market is expected to grow by 1,020 thousand tons during 2021-2025, expanding at a CAGR of over 5%. Get a Free Sample Report Delivered Instantly
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Ethyl Acetate Market: Increasing demand for ethyl acetate from food processing industry to drive growth
Ethyl acetate is one of the major food processing ingredients used in the food and beverage industry. It is widely used as a flavoring ingredient in artificial fruit essences, candies, baked foods, gums, ice creams, and confectionery. For example, ethyl acetate is used in the production of vodka and gin. Similarly, in non-alcoholic beverages, it is used as a natural product to extract and concentrate flavors and aromas. With the growing global consumption of alcoholic and non-alcoholic beverages, the demand for ethyl acetate is expected to increase during the forecast period.
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As per Technavio, the rising penetration of personal care products in emerging markets will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2021-2025.
Ethyl Acetate Market: Rising Penetration of Personal Care Products in Emerging Markets
Factors such as the rise in purchasing power, growing urbanization, and increasing importance for enhancing personal appearance have contributed to the growth of the personal care products market in emerging markets such as APAC and Latin America. These regions are also witnessing significant growth in unisex personal care products, which is encouraging vendors to launch a wide range of products to meet growing consumer demands. Ethyl acetate is predominantly used as a fragrance and flavoring agent in the personal care industry. Therefore, the rising penetration of personal care products in emerging markets is expected to positively influence the growth of the global ethyl acetate market over the forecast period.
"Rise in demand for ethyl acetate in construction materials and increasing demand for green ethyl acetate will further boost market growth during the forecast period", says a senior analyst at Technavio.
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Ethyl Acetate Market: Segmentation Analysis
This market research report segments the ethyl acetate market by Application (Coatings, Personal care, Food and beverages, Pharmaceuticals, and Others) and Geography (APAC, Europe, North America, MEA, and South America).
The APAC region led the ethyl acetate market in 2021, followed by Europe, North America, MEA, and South America respectively. During the forecast period, the APAC region is expected to register the highest incremental growth due to the rising demand for processed foods in the region, particularly in countries such as India, China, Indonesia, Australia, and Japan.
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Some of the key topics covered in the report include:
Market Challenges
Market Drivers
Market Trends
Vendor Landscape
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Report: www.technavio.com/report/ethyl-acetate-market-industry-analysis
SOURCE Technavio
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