Octyl Octanoate Market Size

Octyl Octanoate Market size was valued at USD 1.03 billion in 2024 and is set to exceed USD 2.02 billion by 2037, expanding at over 5.3% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of octyl octanoate is evaluated at USD 1.12 billion.

The growth of the market can be attributed primarily to the increasing usage of octyl octanoate to enhance the flavor of food items, coupled with the growing demand for natural ingredients for the preparation of food and beverages. A study conducted by researchers evaluated the effect of octyl octanoate on the organoleptic properties of fruit-flavored drinks. The results showed that the addition of octyl octanoate significantly improved the beverage's fruity aroma and overall flavor intensity, as assessed by a sensory panel.

Along with these, an increase in the launch of products with exotic and unique flavors, and a rapid surge in the sales of cosmetic products are projected to offer ample growth opportunities to the market in the forthcoming years. In 2020, the total spending in the global beauty industry reached a value of more than USD 450 billion, which is evaluated to amount to USD 700 billion by the end of 2025. Furthermore, escalating demand for processed food and beverages, and a surge in the use of specialty aroma substances in households are also expected to drive market growth shortly.