The
ethyl acetate market is expected to grow
by 685.92 thousand tons during 2020-2024, according to the latest market
research report by Technavio.
Ethyl acetate is one of the major food processing ingredients used in
the food and beverage industry. It is used as an artificial flavoring
ingredient in artificial fruit essences, candies, baked foods, gums, ice
creams, and confectionery. Ethyl acetate is also used as a flavoring agent in
both alcoholic and non-alcoholic beverages. It is used to produce alcoholic
beverages such as vodka and gin. Similarly, in non-alcoholic beverages, ethyl
acetate is used to extract and concentrate flavors and aromas. Thus, the rising
demand for ethyl acetate from food processing industry will drive the growth of
the market during the forecast period.
As per Technavio, the increasing demand for green ethyl acetate 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 2020-2024.
Ethyl Acetate Market : Increasing Demand For Green Ethyl Acetate
In recent years, the global market has witnessed an increased demand for
green solvents, which are derived from natural or renewable resources. The high
demand for these solvents stems from customers focusing on naturally-derived
products with minimal impact on the environment. Furthermore, the growing
number of initiatives from federal and state governments to limit or reduce
environmental emissions and their health hazards are also boosting the demand
for green solvents, such as ethyl acetate. SEKAB and GreenYUG LLC are some of
the vendors that offer green ethyl acetate made from biologically produced
ethanol. Thus, the growing demand for green ethyl acetate will drive the growth
of the market.
Ethyl Acetate Market: Segmentation Analysis
This market research report segments the ethyl acetate market by
application (coatings, personal care, F&B, pharmaceuticals and others), and
geography (APAC, Europe, MEA, North America and South America).
The APAC region led the ethyl acetate market in 2019, followed by
Europe, North America, MEA and South America. During the forecast period, the
APAC region is expected to register the highest incremental growth due to
factors such as rising demand for processed foods, increasing use of food
flavors as an active ingredient in snacks and other edible items, rising beer
consumption and increasing number of construction projects.
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