Octyl Octanoate Market Projected to Grow at a CAGR of ~5% throughout 2022 2031

(MENAFN- Comserve)

New York, United States, Mar 28, 2022, 03:38 /Comserve / -- The global octyl octanoate market is estimated to occupy a sizeable revenue by growing at a CAGR of ~5% during the forecast period, i.e., 2022 – 2031

Research Nester published a report titled “Octyl Octanoate Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the global octyl octanoate market in terms of market segmentation by purity level, end use, and by region.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.

The global octyl octanoate market is estimated to occupy a sizeable revenue by growing at a CAGR of ~5% during the forecast period, i.e., 2022 – 2031, ascribing to the growing use of the compound to enhance the flavor of food items, and surging demand for natural ingredients for preparing food and beverages. Along with these, escalating sales of cosmetic products, increasing demand for processed food and beverages, and rising launch of products with exotic flavors are also expected to drive the growth of the market in the forthcoming years.

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The market is segmented by purity level and end use. Based on purity level, the less than 98% segment is anticipated to occupy the largest share during the forecast period in view of the high availability and low price of this type of octyl octanoate, in view of its high utilization in various industries. Additionally, by end use, the flavoring agents segment is projected to acquire the largest share over the forecast period attributing to the rising usage of flavors in the pharmaceutical industry as inactive ingredients for making chewable tablets, syrups and gums.

Geographically, the global octyl octanoate market is segmented into five major regions, namely North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa. North America is evaluated to gather the largest share in the market during the forecast period attributing to the increasing penetration of cosmetics, and strong presence of prominent market players in the region. Moreover, the market in Asia Pacific is assessed to observe noteworthy growth over the forecast period on the back of the growing production of additive flavors and fragrances in China and South Korea.

The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players' competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.

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Increasing Usage of the Product to Enhance the Flavor of Food Items Globally to Bolster Market Growth

Over the last few years, people all around the world are demanding to enhance the flavor of food products by using distinctive and unique flavors. In addition, the demand for natural ingredients in food items and beverages is also witnessing an upsurge. These are crucial factors anticipated to drive significant growth to the market in the near future.

However, availability of alternatives for octyl octanoate is expected to operate as key restraint to the growth of the global octyl octanoate market over the forecast period.

This report also provides the existing competitive scenario of some of the key players of the global octyl octanoate market which includes company profiling of Symrise AG, Firmenich SA, Robertet Group, Penta Manufacturing Company, Givaudan SA, Synerzine, Inc., BOC Sciences, The Good Scents Company, Merck KGaA, Novaphene, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global octyl octanoate market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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