A new report covers Hexyl Acetate Market outlook providing historical
facts, current status and future development trends information along with data
on leading players and regions.
Global Hexyl Acetate Market size is likely to
see potential gains owing to its immense use in major industries such as
cosmetic, food and beverage. It is a sweet smelling, colorless and an organic
ester compound commonly found in several fruits including apples and plums.
Due to urbanization, there is a rapid change
in lifestyles of people living in the developing economies. People are becoming
aware about different tastes and are willing to try new food and beverages.
Increasing product usage in different food and beverage products is the major
driver for the hexyl acetate market. The product is a natural flavoring agent
found in fruits such as apples and plums. Food production companies add natural
and artificial additives to their products to make them more tasty and exotic.
Demand for natural and organic additives is on a rise. This gives the hexyl
acetate market an upper hand in the coming years as people are getting health
conscious and inclined towards natural additives.
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Based on the
process of product synthesis, hexyl acetate market can be classified into catalyzed
reactive distillation synthesis and lipase catalyzed ester synthesis. Catalyzed
reactive distillation synthesis is time consuming and uneconomical as it
involves separation and performing reactions in the same vessel. The lipase
catalyzed ester synthesis holds sway over the former and is commonly used by
manufacturers in the production of hexyl acetate. Also, this segment is
projected to have an upper hand in the production process in the near future.
Considering
the end-user industry, hexyl acetate market can be bifurcated into different
segments such as food & beverages, cosmetics, and pharmaceuticals. In 2016,
the food & beverage segment held a notable chunk of the overall hexyl
acetate market share. Owing to the demand, supply and market characteristics,
this trend is anticipated to continue further in the forecast period. The
product is also used in ready-to-eat foods for the purpose of flavor and
essence. In the beverage industry, it has an extensive usage in the baking of
beverages such as wine, beer and other liquors. Further, increasing demand for
alcoholic beverages worldwide is the major factor enhancing the food &
beverages segment. The rapid changing lifestyle of people, growing millennial
population, busy work schedules and increasing number of working women tends
them to consume these ready-to-eat foods, thus driving the demand for hexyl
acetate market worldwide.
Apart from
the food and beverage application, it also finds its use in the cosmetic and
pharmaceutical industries. There is a rise in demand for perfumes and scents
as, it reflects ones’ personality, individuality and style. The product finds
its use in scents and perfumes as a natural essence and natural fruity aroma.
Using natural additives in fragrances over synthetic ones is very beneficial as
they do not cause any rash, skin sensitivity and allergies. In 2016, the global
perfume industry was valued at over USD 35 billion. Increase in the demand for
natural additives is also expected to boost the hexyl acetate market.
Due to high
demand in alcoholic beverages and processed food, North America holds sway the
hexyl acetate market, followed by Asia Pacific. The hexyl acetate market in
Asia Pacific will expand rapidly owing to the fast-developing economies like
India and China owing to changing lifestyles and vast youth population. Also,
the hexyl acetate market is likely to expand in the Middle East & Africa at
a decent pace owing to expansions and development in the economies.
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