The global ethyl levulinate market has the potential to grow by USD 2,373.17 thousand during 2020-2024, and the market’s growth momentum will accelerate throughout the forecast period because of the steady increase in year-over-year growth.
This report provides a detailed analysis of the market by application (food additives, fragrances, and others) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors including Advanced Biotech, Axxence Aromatic GmbH, Beijing LYS Chemicals Co. Ltd., Berjé Inc., Elan Chemical Co. Inc., Indukern SA, Merck KGaA, Oakwood Products Inc., Synerzine Inc., and Thermo Fisher Scientific Inc.
Market Overview
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Market Competitive Analysis
The ethyl levulinate market is fragmented, and the degree of fragmentation will remain the same during the forecast period. The rising demand for processed and packaged food products, biodiesel diluents, and personal care products will create several growth opportunities for vendors in the ethyl levulinate market. Advanced Biotech, Axxence Aromatic GmbH, and Beijing LYS Chemicals Co. Ltd. are some of the major market participants. Although the increasing demand for biodiesel diluents will offer immense growth opportunities, the increasing adoption of petroleum and other renewable energy sources will challenge the growth of the market participants. To increase their ethyl levulinate market share, companies should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market position, this ethyl levulinate market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and provides information on the products offered by various companies. Moreover, this ethyl levulinate market analysis report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
This report provides information on the production, sustainability, and prospects of several leading ethyl levulinate manufacturers, including:
- Advanced Biotech
- Axxence Aromatic GmbH
- Beijing LYS Chemicals Co. Ltd.
- Berjé Inc.
- Elan Chemical Co. Inc.
- Indukern SA
- Merck KGaA
- Oakwood Products, Inc.
- Synerzine Inc.
- Thermo Fisher Scientific Inc.
Ethyl Levulinate Market: Segmentation by Region
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APAC was the largest market for ethyl levulinate in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. Rising demand for processed foods, increasing use of food flavors in snacks and other edible items, growing demand for natural and organic cosmetics, and investments in biodiesel production are some of the factors responsible for ethyl levulinate market growth in this region.
Over 39% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for ethyl levulinate in APAC. Market growth in this region will be faster than the growth of the market in other geographies.
Ethyl Levulinate Market: Segmentation by Application
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Ethyl levulinate is widely used as a flavor and fragrance additive in food ad beverage products to preserve and enhance their taste, flavor, color, and texture. The increasing preference for packaged food and beverage products, launch of new products with different flavors and taste of natural substances, and rising adoption of organic and natural food additives are some of the significant factors boosting the demand of ethyl levulinate in food additive applications.
Market growth in this segment will be faster than the growth of the market in the fragrances and other segments. This report provides an accurate prediction of the contribution of all the segments to the growth of the ethyl levulinate market size.
Ethyl Levulinate Market: Key Drivers and Trends
The increasing demand for biodiesel diluents will be a significant factor driving the growth of the ethyl levulinate market. Biodiesel is emerging as one of the most popular alternatives to conventional energy sources, especially for countries that have limited or no reserves of crude oil. The governments of agriculture-based economies are offering incentives to encourage cultivators and farmers to produce biomass feedstocks from agricultural waste that can be used to derive biodiesel. Apart from reducing the dependency on fossil fuels and increasing the utilization of feedstock, biodiesel also helps in minimizing the amount of carbon dioxide and greenhouse gases released into the atmosphere. Ethyl levulinate is widely used as a diluent and cold-flow improver in biodiesel fuels. With the increasing demand for biodiesel, the demand for ethyl levulinate will also grow.
- With the increasing health and safety concerns and rising awareness about the ingredients in personal care products, the demand for natural and organic products has also increased.
- Natural and organic beauty products are free from harmful synthetic ingredients and act as natural cures for various skin problems.
- Several global and regional cosmetics manufacturers and retailers are offering products made from natural ingredients to increase their share in the market.
- Ethyl levulinate is widely used as a flavoring and fragrance ingredient in personal care products.
- The increasing adoption of organic and natural ingredients, which is one of the critical ethyl levulinate market trends, will result in increasing demand for ethyl levulinate-based products.
- During 2020-2024, the ethyl levulinate market will grow at a CAGR of over 4%.
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Ethyl Levulinate Market: Key Highlights of the Report for the Forecast Period 2020-2024
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will accelerate the growth of the ethyl levulinate market during the next five years
- Precise estimation of the global ethyl levulinate market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the ethyl levulinate industry across APAC, Europe, MEA, North America, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of ethyl levulinate vendors
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