New York, U.S., July 11, 2022 (GLOBE NEWSWIRE) — Isoamyl Acetate Market Overview
According to a comprehensive research report by Market Research Future (MRFR), “Isoamyl Acetate Market Information by Application and Region – Forecast to 2030“, the market is expected to grow at a CAGR of 5.5% to reach USD 455.27 million by 2030.
Isoamyl acetate also called isopentyl acetate which is the ester developed from isoamyl alcohol as well as acetic acid. It is colorless with a pleasant and strong smell quite similar to pear and banana. Although it is slightly miscible with water, it is soluble in many organic solvents. It is derived from the acid-catalyzed reaction (also called Fischer esterification) of glacial acetic acid and isoamyl alcohol with sulfuric acid.
Among end-user industries, the food industry will dominate the global market. Meanwhile, of all regions, Asia-Pacific will experience the strongest growth over the assessment period.
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|Market size 2030||$455.27 million|
|Year of reference||2020|
|Forecast units||Value (USD million)|
|Report cover||Revenue forecasts, competitive landscape, growth factors and trends|
|Segments Covered||By application and region|
|Geographical areas covered||North America, Europe, Asia-Pacific and Rest of the World (RoW)|
|Key Market Drivers||Personal care industry growth|
|Strong focus of key players on organic strategies|
Market Competitive Landscape:
Major vendors in the Isoamyl Acetate industry include
- Thermo Fisher Scientific
- Finetech Industry Limited
- Chemoxy International Ltd
- Ernesto Ventos
- Merck KGaA
- LGC Limited
- BASF SE
Covered USP market:
The widespread use of isoamyl acetate as a flavoring agent in the food and beverage industry will be a huge growth driver for the market. It is used in over 40 flavors, such as apple, coffee, and pina colada. The increased preference for synthetic flavors, due to the rapid expansion of the food and beverage sector, will also favor the isoamyl acetate industry. The chemical is additionally used as a solvent in many nitrocellulose lacquers and varnishes. Massive demand for solvents from various end-use industries such as paints, coatings, cosmetics, and pharmaceuticals will further strengthen the market position of isoamyl acetate.
The burgeoning global population along with the growing inclination for ready-to-eat packaged food products is accelerating the demand for synthetic flavors within the food industry. This will undoubtedly leave a huge impact on the Isoamyl Acetate industry. This factor is further complemented by changing eating habits and the surge in consumers’ disposable income.
The Food and Drug Administration (FDA) in the United States as well as the Environmental Protection Agency (EPA) are strict about the content of isoamyl acetate used in various beverages and foods. Government rules like these restrict the use of isoamyl acetate as a flavoring additive, which may restrain the rate of market expansion in the coming years. In addition, the growing fondness of consumers for natural products will be unfavorable to the world market.
Browse the In-Depth (100 Pages) Isoamyl Acetate Market Research Report: https://www.marketresearchfuture.com/reports/isoamyl-acetate-market-10823
COVID 19 Analysis
The isoamyl acetate industry has been significantly affected by the COVID-19 outbreak. Considering the pandemic scenario, many countries had to quarantine themselves to control the increase in cases. As a result, the demand and the supply chain have been disrupted, which has affected the global market. Infrastructure projects, manufacturing units, industries and various operations had to be put on hold due to the pandemic situation.
Volatile raw material costs used to develop isoamyl acetate along with the COVID-19 pandemic has limited the growth rate of the global market. On the bright side, the situation is returning to normal, which means that the market in the future will see better growth.
Cosmetics, pharmaceuticals, food and beverage, textile and other end-user industries are the major applications of isoamyl acetate.
Cosmetics will be one of the main applications of isoamyl acetate in the years to come. Isoamyl acetate is mainly used in cosmetics in nail polish applications as well as for removal as it has a high solvent power.
With the growing number of beauty products in the market and the growing importance placed on maintaining a beautiful appearance, the cosmetics market has grown at a rapid pace. Asia-Pacific is the leading consumer and producer of isoamyl acetate-infused cosmetics. Production is at an all-time high, with the region becoming a major hub for exporting a variety of cosmetic products to developed countries like the United States. The market in Indonesia and South Korea will witness a surge in demand for cosmetics, which will also increase the demand for isoamyl acetate.
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Asia-Pacific accounts for the largest share of the global market, driven by the massive growth of personal care, pharmaceuticals, and food and beverage industries in China, Japan, India, and South Korea. The highest consumption of isoamyl acetate, however; is in China, which has the largest pharmaceutical market in the world. The combined factors of demographic and economic development, government intervention and rising health awareness among people are increasing the market size in the country. Market consolidation coupled with increasing R&D capabilities will also increase market attractiveness in the country in the coming years.
On the other hand, the growth of the personal care industry in India is relatively slower than that of other countries. But changing economic standards along with increasing people’s ability to buy will increase the sales of personal care products in the country. A study by the Ministry of Economy and Industry reveals that the beauty and personal care sector in India will reach more than 10 billion dollars by 2022, at a growth rate of 6-7% per year . The cosmetics and personal care industry in India will witness relentless growth, with an increase in shelf space in supermarkets and shops. All these factors could result in substantial market growth for the entire region in the coming years.
In Europe, the increasing popularity of a variety of packaged foods containing synthetic flavors, combined with the expanding population, will contribute to the growth of the isoamyl acetate market. Additionally, growing consumption of alcoholic and non-alcoholic beverages, along with increasing consumer shift towards beverages like beer and non-alcoholic beverages, will strengthen the market demand in the coming years.
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