Amyl Acetate Food Grade Market - Forecast(2023 - 2028)
Amyl Acetate Food Grade Market Overview
Amyl Acetate Food Grade Market Size is estimated to reach $67.8 million by 2027 and is poised to grow at a CAGR of 2.9% over the forecast period of 2022-2027. Amyl Acetate is a colorless organic compound with an odor like a banana. It is manufactured by fermentation of acetic acid and amyl alcohol and it naturally occurs in banana fruit. It is also known as amyl acetic ester, pentyl ethanoate, pentanol isomers or amyl alcohols in solvent form. It is available in natural and synthetic forms in the market with slightly soluble to completely soluble forms. Amyl acetate is one of the significant flavoring substances utilized in the food and beverage industry. Various foods and beverages, including honey, butterscotch, artificial coffee, beverages, and perfumes, use it as a flavoring ingredient. It is a common flavour used in fermented alcoholic beverages such as beer, sake and wines. Amyl acetate can be produced through chemical synthesis as amyl acetic ester, pentyl ethanoate, pentanol isomers (amyl alcohols) or by natural process. The natural process is very expansive and gives minimum output, hence enzymatic synthesis using a biological agent is preferred which is close to natural and gives good product output. As consumers are conscious about what they eat or drink and aware of the benefits of natural products increase demand for natural flavour in the market, which helps to grow the Amyl Acetate Food Grade market.
Additionally, highly processed food loses its flavour during processing which can be enhanced by the use of food-grade amyl acetate. Also, increasing global demand for innovative and natural flavour from the food & beverage industry hikes the growth of the Amyl Acetate Food Grade Market. To complete global demand various industry players focus on innovative flavour development and its application in variety of food and beverages which help to fuel the growth of the Amyl Acetate Food Grade Industry over the forecast period 2022-2027.
Amyl Acetate Food Grade Market Report Coverage
The report: “Amyl Acetate Food Grade Market Forecast (2022-2027)", by Industry ARC covers an in-depth analysis of the following segments in the Amyl Acetate Food Grade Market.
By Type: Natural, Synthetic.
By Application: Flavoring agent, Solvent, and Others.
By Grade: Commercial (85-88%), High Test (85-88%), Technical (90-95%), and Pure (95-99%).
By End-Users: Bakery, Beverages, Dairy & Frozen Products, Savory & Snacks, Animal & Pet Food, and Others.
By Distribution Channels: Supermarkets, Hypermarkets, E-commerce website, Specialty Store, and Others.
by Geography: North America (U.S., Canada, Mexico), Europe (Germany, United Kingdom (U.K.), France, Italy, Spain, Russia, and the Rest of Europe), Asia Pacific (China, Japan India, South Korea, Australia, and New Zealand, and Rest of Asia Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America), and Rest of the World (the Middle East, and Africa).
- Geographically, Asia-Pacific held a dominant market share in the year 2021, owing to the large consumer base in food & beverage industry, changing lifestyle of consumers and increasing demand for new flavors in the industry propel growth of the Amyl Acetate Food Grade Market Size in this region.
- The Amyl Acetate Food Grade Market is predicted to increase owing to the increasing number of food service restaurants and growing demand for ready-to-eat & ready-to-drink food and beverages. However, the high competition and strict regulatory authority are major restrictions that may limit market growth over the forecast period 2022-2027.
- A detailed analysis of strengths, weaknesses, opportunities, and threats will be provided in the Amyl Acetate Food Grade Market Report.
Amyl Acetate Food Grade Market: Market Share (%) by region, 2021
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Amyl Acetate Food Grade Market Segment Analysis- by Type
Amyl Acetate Food Grade Market based on nature can be further segmented into Natural and Synthetic. The Synthetic segment held a dominant market share in the year 2021. This is owing to high demand of amyl acetate by food & beverage industry, which is possible to fulfil only by synthetically produced amyl acetate like amyl acetic ester, pentyl ethanoate, pentanol isomers (amyl alcohols). Also, naturally produced amyl acetate is very high in cost, hence most of the manufacturers prefer to use synthetically produced amyl acetate which drive the growth of Amyl Acetate Food Grade Market Share.
However, the Natural segment is estimated to grow with the fastest CAGR rate of 3.2% over the forecast period 2022-2027. This is owing to increasing consumer awareness about the health benefits of natural products and the potential risk of consuming chemically synthesized products. According to Centre for the Promotion of Imports from developing countries (CBI) report published in May 2022, Europe is one of the biggest food and beverages market in the world, and consumers in this region shifting their preference for natural flavors. Such increasing consumer demand for clean labeled and organic and natural products fuel the growth of the natural Amyl Acetate Food Grade Market Share over the forecast period 2022-2027.
Amyl Acetate Food Grade Market Segment Analysis- by Application
Amyl Acetate Food Grade Market based on the application can be further segmented into Flavoring agent, Solvent, and Others. The Flavoring agent segment held a dominant market share in the year 2021. This is owing to the increasing demand for ready-to-eat, ready-to-drink food & beverages, & the increasing consumption of fast food where flavoring agents are widely used. Also, the growing demand for flavouring agents in animal & pet food drive market growth. Additionally, the high demand for natural flavors in European Region and rising demand for clean labelled organic food and beverages help to drive segment and boost the growth of the Amyl Acetate Food Grade Market Share.
However, Solvent is estimated to grow with the fastest CAGR rate of 3.1% over the forecast period 2022-2027. This is owing to its application in manufacturing artificial flavour. It is mainly used in alcoholic beverages to hide the unpleasant odor of alcoholic drinks. Increasing consumption of alcoholic beverages helps to grow the demand for solvents, according to the report of Austria Juice 2022, the consumption of hard ice tea is increased by 26% in the year 2020 and is expected to get doubled by 2024. Also, 28% of consumers state that they are willing to pay more for spirits with unique ingredients, hence, dominating Amyl Acetate Food Grade Market Share growth over the forecast period 2022-2027.
Amyl Acetate Food Grade Market Segment Analysis- by Geography
The Amyl Acetate Food Grade Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. Asia Pacific held a dominant market share of 37% in the year 2021. This is owing to a large number of consumers in this region and the demand for healthy and ready-to-eat food. Also increasing the number of food service restaurants in this region leads to market growth. Also, increasing consumption of plant-based food in countries like China, Thailand, and Indonesia, owing to its healthy properties and tasty and textured appearance helps to grow the market. According to a report published in 2022, plant-based food & beverage consumption increased for taste and texture is rise by 22%, in Thailand by 15%, and in Indonesia by 24%. Such increasing demand for plant-based food in the Asia-Pacific region creates strong demand for flavoring agents in the market. Such factors help to drive Asia-Pacific Amyl Acetate Food Grade Market Size.
Furthermore, Europe is estimated to grow with the fastest CAGR rate of 3.6% over the forecast period 2022-2027. Owing to the increasing demand for healthy organic food, and increasing per capita income. According to European Commission, organic agriculture practice is increasing in the European Union and it is the result of increased consumer interest in organic products. Also, in March 2021, European Commission launched new legislation about the action plan for organic production, which helps to boost the organic food and beverage market in Europe. According to a report published in the United States Department of Agriculture, sell of organic goods in Europe reach $56.5 billion with a 15% increase year over year in 2020. Such high consumer preference for organic and natural products and high per capita income help to fuel Amyl Acetate Food Grade Market Size growth over the forecast period 2022-2027.
Amyl Acetate Food Grade Market Drivers:
Growing Consumer Awareness Towards Natural Food Flavors Drive Market Growth
An increasing number of health-conscious people who are concerned about a healthy lifestyle prefer to eat and drink natural, healthy organic food products, driving the market. According to the Economic Research Service of the U.S., Department of Agriculture, consumer demand for organic produce will show double-digit growth in 2022, and there are nearly about 20,000 natural food stores in the U.S., which show demand for organic produce in the U.S. Healthy, natural, and organic produce is costly compared to the conventional product, but people are willing to pay a premium price for good health. According to country economy U.S., per capita GDP is $16359 which is higher than last year $2553. Such increasing per capita income and healthy eating habits drive Amyl Acetate Food Grade Industry.
Growing Trend of Clean Labelling is Driving the Market Growth
Owing to a growth in customer concern for simple and less synthetic chemicals on product labels, the growing trend of clean labelling is a vital contributor to the overall industry expansion. Unhealthy ingredients, such as chemical formulas of synthetic chemicals, are not listed on clean labels. In 2021, sales of clean label ingredients like natural colors and flavors, fruits and vegetables, starch, and sweeteners go up to $38.8 billion. As per food and beverages insight, 73% of consumers are happy to pay extra for clean label products in 2019. Euromonitor international report state that in 2020, clean label food products sales hit $180 billion in 2020. Such an increasing trend of clean label products driving the Amyl Acetate Food Grade Industry over the forecast period 2022-2027.
Amyl Acetate Food Grade Market Challenges
Strict Regulation and Supply Chain Disruption is Hampering Market Growth
Food and beverages directly get consumed by humans or pets, to ensure the security of such products various regulatory authorities which are set to observe the implementation of rules and regulations by the company. In April 2022, FDA introduced Baby Food Safety Act to consumer class action lawsuits. In South Korea, the government has proposed draft regulations to label the origin of raw materials for all imported agriculture, aquaculture, and processed foods, and this draft was first announced in May 2021. Owing to safety concerns, FDA recalled 50+ food and beverage products from the market. Also, in various countries, there is different regulatory structure and various regulations result in the delay of new product launch. Also, raising transportation cost impacted the market growth. According to Nutra-ingredients Asia, shipping costs hiked by 200% from 2020. Such strict regulations and supply chain disruption may hamper market growth over the forecast period 2022-2027.
Amyl Acetate Food Grade Industry Outlook
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Amyl Acetate Food Grade Market. The top 10 companies in the Amyl Acetate Food Grade Market are:
1. Merck Millipore
2. Arochem Industries Pvt. Ltd
3. Sisco Research Laboratories Pvt. Ltd
4. Chemoxy International Ltd
6. Avid Organics Pvt Ltd
7. LGC Limited
8. Dowdupont Inc
9. Thermo Fisher Scientific,
10. BASF SE
- In May 2022, The DSM, entered into business combination agreement to establish the leading creation and innovation partner in nutrition, beauty and well-being Firmenich. DSM-Firmenich will benefit from complementary capabilities across fragrance, taste, texture and nutrition, fueled by world-class science.
- In February 2022, Merk Group, a leading science and technology company, complete acquisition of Exelead for approximately USD 780 million in cash. The business combination is expected to enable Merck’s Life Science business sector to provide its customers with comprehensive end-to-end contract development and manufacturing organization (CDMO) services across the mRNA value chain. Merck plans to further invest over € 500 million to scale up Exelead’s technology over the next ten years.
- In February 2021, DuPont announced completion of previously announced merger of IIF. The combined company will continue to operate under the name IFF. The combination of IFF and N&B creates a global leader in high-value ingredients and solutions for the Food & Beverage, Home & Personal Care and Health & Wellness markets. The complementary portfolios give the company leadership positions within the Taste, Texture, Scent, Nutrition, Enzymes, Cultures, Soy Proteins and Probiotics ingredient categories.
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