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Hexyl acetate, an organic ester compound, belongs to the class of chemical quantities known as carboxylic acid esters. It is a colorless sweet-smelling liquid. Hexyl acetate is primarily used as a solvent for polymers, fats, resins, and oils. It is also employed as a fragrance and flavoring agent in foodstuffs and alcoholic drinks because of its fruity fragrance. It is naturally present in fruits such as plums and apples. Hexyl acetate is employed extensively in food & beverages and cosmetics industries. Food companies add natural and artificial flavors to process foods. Demand for food flavoring agents and flavor enhancer products is high. Hexyl acetate is a natural flavoring agent; therefore, it is considered safe for human consumption and does not pose a threat to the environment. 

Changes in lifestyle, due to urbanization, have increased awareness about health besides boosting consumer aspirations for exquisite taste in food and beverages. This is the primary driver of the hexyl acetate market. The market is also expected to benefit from high demand for natural additives in the cosmetic industry. Apart from food & beverages applications, flavors are also used in cosmetics and pharmaceutical industries. The high demand for scents and perfumes and rise in consumer preference for ready-to-eat meals are also anticipated to drive the hexyl acetate market in the near future. Increase in trend of consumption of fast food among the youth and rise in awareness about health are estimated to propel the demand for natural flavoring agents. This, in turn, is projected to drive the hexyl acetate market. 

Based on product synthesis process, the hexyl acetate market can be bifurcated into lipase catalyzed ester synthesis and catalyzed reactive distillation synthesis. The former is the dominant of the two and is generally used by manufacturers for industrial production of hexyl acetate. Catalyzed reactive distillation synthesis is uneconomical and time consuming; hence, it is not used by manufacturers for industrial production. The lipase catalyzed ester synthesis segment is expected to continue to dominate the production process during the forecast period. 

In terms of end-use industry, the hexyl acetate market can be segmented into food & beverages, cosmetics, and pharmaceutical industries. The food & beverages segment held the significant share of the hexyl acetate market in 2015. This trend is anticipated to continue during the forecast period. This is due to the extensive application of hexyl acetate in foodstuffs; and beverages such as beer, wine, and other alcoholic beverages. Increase in demand for alcoholic beverages around the globe is the primary factor boosting the food & beverages segment. The food & beverages segment is projected to expand at a rapid pace during the forecast period. Cosmetics and pharmaceutical follow the food & beverages segment in terms of market share of the hexyl acetate market. These end-use industries are likely to expand at a steady pace during the forecast period.

In terms of region, the hexyl acetate market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the hexyl acetate market in 2015 due to the high demand for processed food and alcoholic beverages in the region. This trend is expected to continue during the forecast period. The market in North America was followed by that in Europe and Asia Pacific, respectively, in 2015. The market in Asia Pacific is projected to expand rapidly in the near future. Growth in the market in the region is anticipated to be sustained by healthy economic growth, changing lifestyle, and large base of young affluent population in the region. The hexyl acetate market in Middle East & Africa and Latin America is also estimated to expand at a steady pace during the forecast period due to changing lifestyle of consumers and expansion in economies.

Key players operating in the hexyl acetate market includes Advanced Biotech Inc., Alfrebro LLC, Apiscent Labs LLC, Augustus Oils Ltd, Beijing Lys Chemicals Co, LTD., Bontoux S.A, Elan Inc., Frutarom Ltd, and Lluch Essence S.L.  

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Hexyl Acetate Market