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Europe Ethyl Levulinate Market will show exponential growth in the perfume industry by 2024

Author : Ronak Bora | Published Date : 2019-04-03 

Europe driven by U.K, France & Germany ethyl levulinate market may experience favourable growth. Italy & France are fashion trendsetters and account maximum revenue from perfume industry. European wineries have strong hold over global wine supply and increasing wine popularity may drive regional growth.

Asia Pacific led by Japan, India, and China has witness positive growth in ethyl levulinate market size. Rapid urbanisation, hectic life style and increasing working women population has driven RTE food demand in India thereby promoting industry growth. Growing popularity of fragrance in young population has boosted fragrance industry which is likely to fuel product demand.

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Ethyl Levulinate Market size may observe steady growth over the foreseeable timeframe owing to increase in application in food flavours and fragrance industry.

It is formed by levulinic acid esterification with ethanol According to analysis, ethyl levulinate can be manufactured from furfuryl alcohol derived from biomass with aid of eco-friendly catalyst.

Perfume and body spray has accounted highest market share in 2016 in fashion industry. Global fragrance market size was valued at over USD 40 billion in 2016 and may experience significant growth in demand. Ethyl levulinate imparts fragrance to perfumes and spray which forms a vital part of personal grooming kit. Rise in perfumes and body spray demand among young generation owing to growing significance of individual style stating which may propel perfume industry growth. Increasing personal grooming awareness and expanding perfume industry may drive ethyl levulinate market size.

Food additives are essential ingredients in food industry and added to maintain taste, smell and colour of foodstuffs. Food flavour market is poised to surpass at over USD 15.5 billion by 2024. Ethyl levulinate is used as food additive to enhance taste and fragrance of the food item. Increasing convenience food, cakes, snacks demand may boost product demand as food additive. Favourable regulatory norms by Food & extract manufacturer association (FEMA) stating ethyl levulinate safe for human consumption may have positive influence on product market size.

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Ethyl levulinate market is at elementary stage and can witness a steady growth owing to various research conducted to explore full product potential. Commercial grade levulinic acid is primary raw material for manufacturing. High cost of levulinic acid may hamper industry profitability which is likely to affect ethyl levulinate price trend. Increasing investments in research to produce cheaper raw material alternatives may favour industry growth.

Ethyl levulinate market share is fragmented with few players present. Key players are Alfa Aesar, Oakwood Products, Tokyo Chemical, Ventos and Sigma Aldrich.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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