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2-phenylethanol Market (Source - Synthetic, and Natural; Purity - 98% Purity, 99% Purity, and Others; Application - Food & Beverages, Cosmetics & Personal Care, Home Care, Pharmaceuticals, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2027

  • Published : July, 2021

  • Rep Id : CM00867

  • Category : Chemicals & Materials

  • Status : Published

A recent report published by Infinium Global Research on 2-phenylethanol market provides an in-depth analysis of segments and sub-segments in the global as well as regional 2-phenylethanol market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional 2-phenylethanol market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast, and dollar values of the global 2-phenylethanol market. According to the report, the global 2-phenylethanol market is projected to grow at a CAGR of 5.3% during the forecast period of 2021-2027, growing from nearly USD 250 million in 2021 to about USD 360 million in 2027.

 

Market Insight

Organic chemicals have found their application across numerous industries. 2-phenylethanol is one of the organic chemicals that is used widely for various applications in several industries. It is a colorless liquid that occurs widely in nature. 2-phenylethanol has antimicrobial, antiseptic, and disinfectant properties, and it is also used as an aromatic essence and preservative in pharmaceutics and cosmetics. Moreover, 2-phenylethanol has several other applications including an additive and flavoring agent in foods and beverages. Furthermore, 2-phenylethanol can be sourced naturally as well as synthetically. The market players are focusing on producing 2-phenylethanol from novel natural sources such as bacteria, and algae as the demand for natural products increase from the end-users.

 

The 2-phenylethanol market was affected fairly positively by the COVID-19 pandemic. As the COVID-19 pandemic spread, several countries went under lockdowns and people were requested to stay in their homes. These lockdowns and concerns regarding the infection led to panic buying. People bought essential products such as food, beverage, personal care, and home care products in large quantities in order to prepare themselves for long quarantine. This increased sale of food, beverage, personal care, and home care products augmented the demand for 2-phenylethanol, which is required to make these products. Moreover, consumers became more conscious regarding the use of synthetic chemicals in food, and personal care products during the pandemic. The perceived harmful effects of synthetic chemicals on health influenced the consumers to buy products with natural ingredients. Thus, the demand for 2-phenylethanol increased during the pandemic as it is considered a natural ingredient.

 

The growing demand for natural ingredients from the food, and cosmetics industry is majorly driving the growth of the 2-phenylethanol market. 2-phenylethanol can be produced naturally from plants, bacteria, and algae, making it a natural product. Thus, it is widely used as a flavoring agent, and aromatic ingredient in foods and cosmetics marketed as natural. Moreover, improving lifestyle due to increased disposable income is further augmenting the market growth. Consumers tend to spend more on personal care products as their spending capacity increases. As cosmetic, and personal care industries are the major users of 2-phenylethanol, increased revenue in the industry directly supports the market growth for 2-phenylethanol. However, harsh regulations from the food and drug agencies in various countries are anticipated to hamper the market growth. Nevertheless, the development of innovative manufacturing processes is expected to boost the market growth over the forecast.

 

The global 2-phenylethanol market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. The Asia Pacific region generated the highest revenue and is anticipated to grow with the fastest rate among the regions in the global 2-phenylethanol market. The Asia Pacific 2-phenylethanol market is majorly driven by rapidly developing economies including China, India, and South Korea. The demand for products such as processed food, and personal care is increasing in these countries. As 2-phenylethanol is used to make these products, their growing demand is anticipated to drive the market. Moreover, the growing influence of global players in the food and beverage, and cosmetics industry in the Asia Pacific is further propelling the market growth. On the other hand, the North America region held the second-largest share in the global 2-phenylethanol market. The higher consumption of packaged food and cosmetics in the region is mainly attributed to a substantial market share of the North America region in the global 2-phenylethanol market.

 

Segment Covered

The report on the global 2-phenylethanol market covers segments such as source, purity, and application. On the basis of source, the sub-markets include synthetic, and natural. On the basis of purity, the sub-markets include 98% purity, 99% purity, and others. On the basis of application, the sub-markets include food & beverages, cosmetics & personal care, home care, pharmaceuticals, and others.

 

2-phenylethanol Market


Companies Profiled:

The report provides profiles of the companies in the market such as Sigma-Aldrich, Inc., The Good Scents Company, Santa Cruz Biotechnology, Inc., Alfa Aesar (Thermo Fisher Scientific Inc.), TCI America, Inc., Spectrum Chemical Mfg. Corp., Acros Organics BVBA, Matrix Scientific, LLC, LyondellBasell Industries NV, and Toyotama International, Inc..

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the 2-phenylethanol market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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