BUTYRIC ACID MARKET - GROWTH, TRENDS, COVID-19 IMPACT, AND FORECASTS (2021 - 2027)

BUTYRIC ACID MARKET - GROWTH, TRENDS, COVID-19 IMPACT, AND FORECASTS (2021 - 2027)

The butyric acid market has witnessed increasing rise in demand over recent times due to its key application in biofuel, pharmaceuticals, food additives and flavoring, cosmetics, animal feed, leather tanning, and plasticizer, among others. The market is also projected to draw growth from rising concerns about the environmental degradation.

Increasing employment levels in both developed, as well as developing economies, over time, has led to a considerable change in lifestyle of both men and women. Busy schedules, along with the lack of time to prepare and eat healthy food alternatives, is shifting the attention of these consumers towards ready-to-eat packaged food products, creating ideal conditions for the industry to draw in revenue gains from the global F&B sector.

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As per a report by Global Markets Insights, Inc. the global butyric acid market size is slated to amass USD 405 million in value through 2027.

Expounded below are some of the leading factors expected to influence the industry size in the forthcoming years:

  1. Increasing demand for processed food

Butyric acid finds extensive use in plasticizers due to the increasing demand for ready-to-eat and packaged food products. Butyric acid is used in plastic as a raw material for the cellulose acetate butyrate. With rising disposable income and the ensuing change in people’s food preferences and eating habits, processed food sales have growth exponentially across various nations. The use of the product as a food flavoring agent owing to its pleasant aroma makes it a widely accepted flavoring additive.

  1. COVID-19 and the need for cosmetic items

The rising purchasing power of the global population, coupled with a rapidly increasing awareness regarding personal grooming, has created ideal conditions that have boosted the demand for cosmetics across the globe. Most cosmetic products contain methyl butyrate as it is a concentrated aromatic and flavoring ingredient that are used in flavor and fragrance compounds.  

In 2020, the Europe cosmetics and personal care market was valued at USD 90.32 billion in terms of retail sales. As such, the burgeoning demand for luxurious goods such as cosmetics will supplement butyric acid market growth in the near future. Additionally, some key manufacturers are heavily investing in R&D activities to introduce cosmetic items like new soaps, shower gels, and other personal hygiene products to their portfolio. These have witnessed an increase in demand during the coronavirus pandemic, due to the need to maintain utmost hygiene to keep germs at bay.

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  1. Evolving pharmaceutical sector in Europe

Europe is home to some of the world’s most advances healthcare infrastructures, which has made them ideal growth ground for pharmaceutical industries, evident from the plethora of global pharma companies calling Europe their home. These pharmaceutical companies, supported by favorable government policies, have been heavily investing in research and development efforts to manufacture advanced medication solutions, augmenting the use of butyric acid.

Increasing incidences of chronic diseases in the region along with the discovery of new illnesses has also complemented the need for reliable and effective medicative solutions. 

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