Global Ethyl Maltol Market: Introduction
Flavors & fragrances is an important ingredient for food & beverage and perfumery industry. Flavors represent over a quarter of global food additive market. Ethyl Maltol is a white solid, non-toxic, aromatic additive material characterized by its sweet smell like caramel sugar, candy and baked fruit. Ethyl maltol has a significant effect on enhancing the flavor of food. It can effectively preserve food and also increases the sweetness of certain food products. Ethyl Maltol is widely used in end-use industries like food & beverage, pharmaceuticals, cosmetics & personal care, tobacco industry along with other industries such as animal feed & poultry. Most widely ethyl maltol is consumed by food & beverage industry where ethyl maltol is used as flavor enhancer, preservatives or bacteriostatic agent. Ethyl Maltol is used in similar applications as of maltol; however, the methyl group in maltol is replaced by ethyl group and is more intense than maltol. Maltol is naturally occurring flavor enhancer while ethyl maltol is synthetically produced organic compound with fragrant aroma.
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Global Ethyl Maltol Market: Dynamics
Tobacco industry is an emerging market for ethyl maltol as it has wide range of applications both in flavoring and fragrance such as chewing tobacco, and cigarette. Innovations in e-cigarette will be responsible for further growth of ethyl maltol in tobacco industry.
Changing lifestyle and increasing purchasing power in developing countries has up surged the demand of ethyl maltol market in cosmetics & personal care applications and is expected to witness significant growth in near future.
In developed countries niche applications such as animal feed & poultry is expected to grow at comparatively at higher rate on account of low base effect. Development of new applications of ethyl maltol in food & beverage industry is an important aspect for the market growth.
Implementation of regulatory standards regarding the consumption of ethyl maltol is estimated to cause hindrance in the market growth. Increase in China’s dominance over ethyl maltol production may affect the market share or profit margins of other international players.
Global Ethyl Maltol Market: Segmentation
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Global Ethyl Maltol Market: Regional Outlook
Asia-Pacific is one of the prominent consumer of ethyl maltol and is expected to grow at relatively higher rate owing to increasing use of processed foods. Moreover, improving standard of living in countries like China, India and South Korea are likely to help Asia-Pacific region to increase its share in global market.
North America is another important region in terms of ethyl Maltol consumption owing to its pre-dominance in food & beverage, pharmaceuticals and cosmetics industry.
Western Europe ethyl maltol market is anticipated to closely follow the pattern similar to North America; however average growth rate of ethyl maltol in the European region is expected to be lower than North America due to increasing stringency of regulatory standards related to food & beverage and pharmaceutical industry. Other regions like South America and Middle East & Africa are expected to grow at modest rate during the forecast period.
Global Ethyl Maltol Market: Key Players
Examples of some of the market participants operating in the global Ethyl Maltol market are:
- Hefei TNJ Chemical Industry Co.,Ltd.
- Anhui Biochem United Pharmaceutical
- Anhui Jinhe Industrial
- Beijing Tainlihai Chemical Co.Ltd.
- Foodchem
- Forever Chemcial Co. Ltd
- Haihang Industry
- Shaanxi Teamhan Biological Technology Co., Ltd.
- Shaanxi Top Pharm Chemical Co. Ltd.
- Shandong Huitong Lihua Biological Technology Co., Ltd.
- Shanghai Aipu Food Industry Co., Ltd.
- Spectrum Chemcial Mfg Corp.
- Zhaoqing Perfumery Co. Ltd.
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