According to a new market report published by Lucintel, the future of the hexanoic acid market looks promising with opportunities in food and beverages, industrial chamicals, personal care, pharmaceuticals, and others. The global hexanoic acid market is expected to grow with a CAGR of 2%-3% from 2020 to 2025. The major drivers for this market are growing demand for rising production of personal care products, and increasing consumption of processed and packaged food products.
In this market, 99% of hexanoic acid, and 98% of hexanoic acid are the major product types. Lucintel forecasts that 99% of hexanoic acid will remain the largest segment over the forecast period because of increasing demand for health-conscious consumers, and rise in demand for enhanced properties.
Within this market, food and beverages, industrial chamicals, personal care, pharmaceuticals, and others are the major application of hexanoic acid. Food and beverages will remain the largest segment by application type over the forecast period due to increasing demand for consumer preference, rising production of personal care products, and increasing consumption of processed and packaged food products.
Asia-Pacific is expected to witness the highest growth over the forecast period due to due to high production of hexanoic acid in countries such as India and China in the Asia Pacific region, and due to increasing demand from perfume and flavoring industry in this geography.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global hexanoic acid market by product type, application, and region. Lucintel has prepared a comprehensive research report titled “Growth Opportunities in the Global Hexanoic Acid Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global hexanoic acid market by product type, application, and region as follows:
By Product Type [Value ($ Million) shipment analysis for 2014 – 2025]:
99% Hexanoic Acid
98% Hexanoic Acid
By Application [Value ($ Million) shipment analysis for 2014 – 2025]:
Food and Beverage
Industries Chemicals
Personal Care
Pharmaceutical
Others
By Region [Value ($ Million) shipment analysis for 2014 – 2025]:
United States
Canada
Mexico
Germany
United Kingdom
France
A more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or visit us at helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision makers in a variety of industries. For further information, visit www.lucintel.com.