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Triacetin market is fueled by an increase in demand for flavorings and fragrances from the food and beverage industry.

HYDERABAD, TELANGANA, INDIA, October 18, 2022 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that the triacetin market size is forecast to reach US$200 million by 2027, after growing at a CAGR of 5.1% during 2022-2027, owing to the rising demand from various end-use industries such as food and beverage, pharmaceuticals, plastics, and more. Triacetin is one of the glycerin acetate compounds known as glycerin triacetate. It is the triglyceride of glycerol acetylating agents, such as acetic anhydride and acetic acid. The triacetin market is fueled by an increase in demand for flavorings and fragrances from the food and beverage industry. Furthermore, the rapid growth of the cosmetics industry is accelerating the demand for the triacetin industry growth. All these factors are driving the growth of the triacetin market and is anticipated to drive the growth in the future forecast period. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

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https://www.industryarc.com/Research/Triacetin-Market-Research-500063

Key Takeaways:

This IndustryARC report on the triacetin market highlights the following areas -

Asia Pacific region dominates the triacetin market, owing to its increasing food processing industry in the region. For instance, according to Invest India, it is forecasted that by 2025-26 the output of the food processing industry will reach US$535 billion.

Triacetin is used in the production of cigarette filters by the tobacco industry as a solidifier. The tobacco industry's increasing need for triacetin is propelling the triacetin market growth.

Triacetin is employed as an ingredient in animal feed and as an agrochemical for pest management in the agriculture industry, which is accelerating the triacetin market growth.

However, there are certain safety concerns regarding the use of triacetin, which is posing as a roadblock for the triacetin market growth.

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Segmental Analysis:

Triacetin Market Segment Analysis – By Grade: The food-grade segment held the largest share in the triacetin market in 2021. Triacetin is a suitable solvent and fixative for many flavourings and perfumes because of its strong solvency and low volatility. As a result of these benefits, the food-grade triacetin is being used more frequently in the food and beverage industry, which propelling the triacetin market growth.

Triacetin Market Segment Analysis – By Function: The plasticizer segment held the largest share in the triacetin market in 2021, owing to its increasing use in tobacco, personal care products, pharmaceuticals, and more. Plasticizers are also used in the tobacco industry as it gives the good hold on the cigarette filters. Thus, the increasing use of plasticizers in various end-use industries is anticipated to drive the growth of the triacetin market.

Triacetin Market Segment Analysis – By Application: The flavourings and fragrance segment held the largest share in the triacetin market in 2021 and is growing at a CAGR of 4.9% during 2022-2027. Triacetin gives the advantage of enhancing the flavourings, which results in improving the taste of food and beverage products, as the market for food and beverages is increasing and leading to the growth of the triacetin industry.

Triacetin Market Segment Analysis – By End-Use Industry: The food and beverage segment held the largest share in the triacetin market in 2021 and is growing at a CAGR of 6% during 2022-2027. When compared with other food-grade triacetin has better texture, moisturizing, emulsifying, and stabilizing qualities, making it ideal for use in the food and beverage industry.

Triacetin Market Segment Analysis – By Geography: Asia-Pacific region held the largest share in the triacetin market in 2021 up to 31% owing to its increasing use in the end-use industries such as food and beverage, pharmaceuticals, agriculture, and personal care.

Competitive Landscape:
The top 5 players in the triacetin industry are -
1. Anhui Hongyang Chemical Co. Ltd.
2. Jinlomg Technology Group Co. Ltd.
3. Shanghai Innojade International Co. Ltd.
4. Eastman Chemical Company
5. Emery Oleochemicals

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