The changing lifestyle as well as an increase in the number of working population as changed the dietary habits of the majority of the population. The busy life, as well as an increase in the number of working women, has led to a rise in demand for processed food. Increase in demand and consumption of processed food directly increases the demand for solvents used in processing food. Extraction is an important part of food processing. Extraction Solvents are a type of solvents that are used during extraction procedure during processing of raw materials of food ingredients. Extraction Solvents are been increasingly used in the processing and production of various food ingredients and products. Extraction solvents are removed after the processing of the foodstuff, however, may leave some of the residues in the food ingredient or product, in an unintentional but technically unavoidable way. However, with more demand and increasing applications along with technological advances, the global extraction solvents market is expected to grow during the forecast period.
Growing Demand for Extraction Solvents with Increasing Processed Food Industry
The ever-growing food industry has increased the demand for processed food and ultimately making a positive impact on the extraction solvent market. The rising demand for processed food products or use of processed ingredients in the various recipes has been a major driver for extraction solvent. The increasing number of working people, as well as busy and hectic working, has increased the demand for processed food thus having a positive impact on the extraction solvent market. Extraction Solvents are used in many aspects of food preparation. Extraction Solvents are used in the production of various oils, fats, flavorings, essential oils, seed oils, as well as liquid formulation of essences and flavorings. The increasing demand for flavor and fragrance industry, as well as increasing stature of vegetable and essential oils, thus proves to be a positive driver for extraction solvent markets. There is an increasing concern of people about the safety of the food products they consume every day as the occurrence of more and more food contamination incidents. The residues of extraction solvents in food products have alerted food safety and other regulations in various countries, especially in Europe to regulate the use of extraction solvents in food products. These factors impact the market in a negative way.
However, with the increasing number and technological advances the global extraction solvent market is expected to increase in a positive in terms value and volume over the forecast period.
Global Extraction Solvent Market Segmentation
On the basis of product type, the global Extraction Solvent market has been segmented as-
On the basis of End Use, the global Extraction Solvent market has been segmented as-
Global Extraction Solvents Market: Key Players
The demand for global extraction solvents is on the rise. Some of the key players in the extraction solvents market include Jubilant Life Sciences, Merck KGaA, Penta Manufacturing Company, Celanese Corporation, Recochem, Sipchem, Prairie Catalytic, etc. More companies are taking interest to invest in the extraction solvent market owing to its increasing demand.
Extraction Solvents Market: Regional Outlook
The global extraction solvents market is regionally segmented into North America, Latin America, Europe, Asia Pacific and Middle East & Africa (MEA). North America and Europe currently dominate the extraction solvents market owing to highly established food processing industries as well as advanced technology. However, the Asia Pacific is expected to show a rapid growth in extraction solvents market owing to the increasing demand for processed food products as well as rapid industrialization in India and China. The demand for extraction solvents is expected to increase in Latin America owing to increasing essential and vegetable oil industries as well as the rise of food & fragrance sector. The Extraction Solvent market in MEA is expected to grow at a steady rate.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The report also maps the qualitative impact of various market factors on market segments and geographies.
The report covers exhaustive analysis on:
Regional analysis includes: