Octyl Octanoate Market Analysis

End-user (Essential Oils, Fragrances, Flavouring Agents)

The global octyl octanoate market is segmented and analyzed to demand and supply by end-use into essential oils, fragrances, flavoring agents, and others. Out of which, the flavoring agent’s segment is anticipated to hold the largest share of the global octyl octanoate industry. This can be accounted to the growing use of flavors in the pharmaceutical industry as inactive ingredients in chewable tablets, syrups, and gums. Apart from this, the rise in demand for ready-to-eat food items that require more taste is also predicted to boost the growth of the market segment in the future. A 2020 survey found that 55% of U.S. consumers would eat more packaged and ready-to-eat foods compared to before the COVID-19 pandemic owing to the convenience and time-saving factors are purchasing. 

Purity Level (Less than 98%, above 98%)

The global market of octyl octanoate is segmented and analyzed for demand and supply by purity level into less than 98% and above 98%.  Based on purity level, the less than 98% segment is assessed to occupy the largest share during the forecast period. Owing to the high availability and low price of this type of octyl octanoate, as a result, it is extensively being used in a variety of industries. This segment utilization can be seen in various industries, such as in fragrance, cosmetics, pharmaceutical industries, and many more.

Our in-depth analysis of the global market includes the following segments: