There is a high demand for butyric acid from the flourishing cosmetic industry in the Middle East and Africa. As per data by Statista, in 2021, the region’s cosmetic industry was recorded worth more than ~US$ 34 billion. Derivatives of butyric acid, such as methyl, ethyl, and amyl butyrate, are used in cosmetic products.
The growing consumption of flavored food and beverages favors the growth of the butyric acid market in the MEA. As per the report of Frost & Sullivan, in 2020, the collective revenue of the food and beverages industry in Saudi Arabia and the UAE was estimated at ~US$ 37 billion, which indicates the high consumption of these products. Further, the rising population, increasing per capita income, and growing health consciousness among consumers in this region are the key factors boosting the consumption of green and recycled flavored foods. Butyric acid is one of the widely used flavoring agents in food and beverages, and it has a fruity and cheesy flavor. Thus, the flourishing food & beverages industry is anticipated to propel the butyric acid market growth in the MEA during the forecast period.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the MEA butyric acid market at an attractive CAGR during the forecast period.
The MEA butyric acid market is analyzed on three fronts: Source, application, and country. Based on source, the market has been segmented into renewable butyric acid and synthetic butyric acid. The renewable butyric acid segment held the largest market share in 2020.
Based on application, the market is segmented into printing inks, animal feed, food flavors and fragrances, chemical intermediates, pharmaceuticals, and others. The animal feed segment held the largest market share in 2020.
Based on country, the MEA butyric acid market is segmented into Saudi Arabia, South Africa, the UAE, and the Rest of the MEA.
Alfa Aesar; Eastman Chemical Company; Hefei TNJ Chemical Industry Co., Ltd.; Kunshan Odwell Co., Ltd.; MERCK KGaA; OQ Chemicals GmbH; Perstorp Holding AB; Tokyo Chemical Industry Co., Ltd.; and Yufeng International Co., Ltd. are the leading companies in the MEA butyric acid market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 8.52 Million |
| Market Size by 2028 | US$ 21.31 Million |
| CAGR (2021 - 2028) | 14.0% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Source
|
| Regions and Countries Covered |
Middle East and Africa
|
| Market leaders and key company profiles |
|
The Middle East and Africa Butyric Acid Market is valued at US$ 8.52 Million in 2021, it is projected to reach US$ 21.31 Million by 2028.
As per our report Middle East and Africa Butyric Acid Market, the market size is valued at US$ 8.52 Million in 2021, projecting it to reach US$ 21.31 Million by 2028. This translates to a CAGR of approximately 14.0% during the forecast period.
The Middle East and Africa Butyric Acid Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Middle East and Africa Butyric Acid Market report:
The Middle East and Africa Butyric Acid Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Middle East and Africa Butyric Acid Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Middle East and Africa Butyric Acid Market value chain can benefit from the information contained in a comprehensive market report.
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