LONDON--(BUSINESS WIRE)--The ethyl levulinate market size is poised to grow at a CAGR of over 4% during the period 2020-2024, according to the latest market research report by Technavio. Request a free sample report
Biodiesel is one of the fastest-growing alternatives to conventional energy sources, as it helps in expanding the energy mix, reduces carbon emissions, and decreases the dependency on the global petroleum market. Moreover, governments of various countries such as the US, Germany, and others are supporting the use of biofuels as a source of energy and reducing the reliance on imported crude oil. Ethyl levulinate is largely used as a diluent in biodiesel, with a high content of saturated fatty acids. It also acts as an effective cold-flow improver in biodiesel fuels. Thus, the increasing use of biodiesel will boost the ethyl levulinate market growth during the forecast period.
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As per Technavio, the increasing adoption of organic and natural ingredients will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2020-2024.
Ethyl levulinate Market: Increasing Adoption of Organic and Natural Ingredients
The growing health and safety concerns and increasing awareness about ingredients among consumers has increased the demand for natural and organic products. This has led to an increase in the use of organic and natural ingredients in the personal care and cosmeceutical sector because they act as natural cures for various skin problems. Ethyl levulinate is a natural ingredient, which is widely used as a flavoring and fragrance ingredient in personal care products. Thus, the increasing adoption of organic and natural ingredients will drive the ethyl levulinate market growth during the forecast period.
“Other factors such as the supportive government policies regarding biodiesel, and the increasing demand for male grooming products will have a significant impact on the growth of the ethyl levulinate market value during the forecast period,” says a senior analyst at Technavio.
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Ethyl Levulinate Market: Segmentation Analysis
This market research report segments the ethyl levulinate market by geography (APAC, Europe, MEA, North America, and South America) and application (food additives, fragrances, and others).
The APAC region led the market in 2019, followed by Europe, North America, South America, and MEA respectively. The growth of the ethyl levulinate market share in APAC can be attributed to several factors such as the rising demand for processed food, increasing use of food flavors in snacks and other edible items, and growing demand for natural and organic cosmetics.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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