Market Overview:
The global butyl lactate market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for butyl lactate from various applications such as food & beverage, spices, synthetic resin, industrial solvent and others. In terms of type, the food grade segment is expected to hold a major share in the global butyl lactate market during the forecast period. However, with respect to region, Asia Pacific is projected to witness highest growth rate during the forecast period owing to growing demand for butyl lactate from various end-use industries in this region. Some of key players operating in global butyl lactate market are BASF SE (Germany), The Dow Chemical Company (U.S.), INEOS Group Holdings S.A.(Switzerland), LyondellBasell Industries N.V.
Product Definition:
Butyl Lactate is a clear, colorless liquid that has a slightly sweet taste. It is soluble in water and ethanol, and miscible with most organic solvents. Butyl lactate is used as an artificial flavorant and perfume ingredient.
Food Grade:
Food grade is a type of lactic acid bacteria that has been grown in the milk of dairy cattle and consists of over 60% lactose. Food grade lactic acid bacteria can be used as an alternative to pharmaceutical-grade lactic acid for curing several diseases related to gut such as intestinal inflammation, leaky gut syndrome, and others. The growing demand for food grade products coupled with rising awareness about its health benefits is expected to drive the global market growth over the forecast period.
Industrial Grade:
Industrial grade is a high purity, colorless, flammable liquid with an odor similar to gasoline. It is usually produced by the catalytic hydrogenation of ethylene. Industrial-grade butyl lactate has applications in various industries including textile printing ink and adhesives owing to its excellent bonding properties along with being used as a solvent for paints & coatings and as an intermediate for pharmaceuticals & agrochemicals.
Application Insights:
Food & beverage was the largest application segment in 2017 and is expected to witness a CAGR of XX% from 2018 to 2030. Butyl lactate is widely used as an emulsifier, antioxidant, and preservative in food & beverages industry owing to its properties such as emulsification ability, thermal stability, low acid content along with high functionality compatibility. The product finds applications in dairy products including cheese making; however it has been gaining popularity for use in non-dairy creamers due to its better taste when compared with other common ingredients such as vinegar or lemon juice which are often used for the same purpose.
The product also finds applications as a flavoring agent and fragrance component within various food products including bakery & confectionery items; fruit juices; meat, poultry & seafood items; along with several others that require butyl lactate during their production process.
Regional Analysis:
Asia Pacific was the largest market in 2017 and is expected to continue its dominance over the forecast period. The growth of this region can be attributed to increasing demand from end-use industries such as food & beverage, pharmaceuticals, cosmetics, and paints & coatings. China is one of the major producers of butyl lactate owing to easy availability of raw materials coupled with low manufacturing cost compared to other countries in the world.
The presence of a large number of manufacturers coupled with growing exports from Asia Pacific are some factors that have contributed towards significant growth in this region over past few years. However, high production volume along with huge consumption has resulted into high inventory level which may hamper product supply for a short period during peak season (winter).
Growth Factors:
- Increasing demand from end-use industries such as cosmetics, pharmaceuticals, and food & beverages
- Rising awareness about the benefits of Butyl Lactate among consumers
- Growing investment by leading players in research and development to introduce new products
- Expansion of distribution channels by key players to reach a wider customer base
- Emergence of Butyl Lactate as a preferred ingredient in various applications
Scope Of The Report
Report Attributes
Report Details
Report Title
Butyl Lactate Market Research Report
By Type
Food Grade, Industrial Grade
By Application
Food & Beverage, Spices, Synthetic Resin, Industrial Solvent, Other
By Companies
Corbion, Galactic, Godavari Biorefineries, Musashino Chemical Laboratory, Vertec BioSolvents, Yancheng Hongtai Bioengineering, Huade Biological Engineering, Henan Kangyuan, Haijianuo Bioengineer, Jindan Lactic Acid
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
249
Number of Tables & Figures
175
Customization Available
Yes, the report can be customized as per your need.
Global Butyl Lactate Market Report Segments:
The global Butyl Lactate market is segmented on the basis of:
Types
Food Grade, Industrial Grade
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Food & Beverage, Spices, Synthetic Resin, Industrial Solvent, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Corbion
- Galactic
- Godavari Biorefineries
- Musashino Chemical Laboratory
- Vertec BioSolvents
- Yancheng Hongtai Bioengineering
- Huade Biological Engineering
- Henan Kangyuan
- Haijianuo Bioengineer
- Jindan Lactic Acid
Highlights of The Butyl Lactate Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Food Grade
- Industrial Grade
- By Application:
- Food & Beverage
- Spices
- Synthetic Resin
- Industrial Solvent
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Butyl Lactate Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Butyl Lactate is a butyric acid derivative that is used as a solvent and emulsifier in cosmetics, food, and pharmaceuticals. It has a slightly sweet odor and is clear to pale yellow in color.
Some of the major companies in the butyl lactate market are Corbion, Galactic, Godavari Biorefineries, Musashino Chemical Laboratory, Vertec BioSolvents, Yancheng Hongtai Bioengineering, Huade Biological Engineering, Henan Kangyuan, Haijianuo Bioengineer, Jindan Lactic Acid.
The butyl lactate market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Butyl Lactate Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Butyl Lactate Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Butyl Lactate Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Butyl Lactate Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Butyl Lactate Market Size & Forecast, 2020-2028
4.5.1 Butyl Lactate Market Size and Y-o-Y Growth
4.5.2 Butyl Lactate Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Food Grade
5.2.2 Industrial Grade
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Food & Beverage
6.2.2 Spices
6.2.3 Synthetic Resin
6.2.4 Industrial Solvent
6.2.5 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Butyl Lactate Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Butyl Lactate Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Food Grade
9.6.2 Industrial Grade
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Food & Beverage
9.10.2 Spices
9.10.3 Synthetic Resin
9.10.4 Industrial Solvent
9.10.5 Other
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Food Grade
10.6.2 Industrial Grade
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Food & Beverage
10.10.2 Spices
10.10.3 Synthetic Resin
10.10.4 Industrial Solvent
10.10.5 Other
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Food Grade
11.6.2 Industrial Grade
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Food & Beverage
11.10.2 Spices
11.10.3 Synthetic Resin
11.10.4 Industrial Solvent
11.10.5 Other
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Food Grade
12.6.2 Industrial Grade
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Food & Beverage
12.10.2 Spices
12.10.3 Synthetic Resin
12.10.4 Industrial Solvent
12.10.5 Other
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Food Grade
13.6.2 Industrial Grade
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Food & Beverage
13.10.2 Spices
13.10.3 Synthetic Resin
13.10.4 Industrial Solvent
13.10.5 Other
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Butyl Lactate Market: Competitive Dashboard
14.2 Global Butyl Lactate Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Corbion
14.3.2 Galactic
14.3.3 Godavari Biorefineries
14.3.4 Musashino Chemical Laboratory
14.3.5 Vertec BioSolvents
14.3.6 Yancheng Hongtai Bioengineering
14.3.7 Huade Biological Engineering
14.3.8 Henan Kangyuan
14.3.9 Haijianuo Bioengineer
14.3.10 Jindan Lactic Acid
