Methyl Myristate MarketSize and Trends

The global methyl myristate market is projected to surpass US$ 26.69 Bn by the end of 2030, in terms of revenue, growing at CAGR of 4.27% during the forecast period (2023 to 2030).

Global Methyl Myristate Market- Trends

Increasing demand for food flavoring and additives agents

Methyl Myristate is a white colored solid substance, and is insoluble in water. It has waxy honey like odor and is used in food &beverages industry as a flavoring agent, food additive, and as a fragrance agent. Growing demand for luxury food and life style are one of the trends in the market that is increasing demand for methyl myristate. Nowadays, cosmetics has become an indispensable feature of the modern lifestyle of every individual. Moreover, development of people's internal intelligence, and their growing awareness of beauty is boosting usage of cosmetics in the international market. Currently, males use cosmetics more frequently in their everyday lives than women, this leads to increasing demand for cosmetics in the global market, and this increases demand for methyl myristate. All these factors including altering lifestyles is expected to drive the global methyl myristate market growth.

Figure 2. Global Methyl Myristate Market Revenue Share (%), By Types, 2022