Benzenoid Market By Type (Benzyl Acetate, Benzoate, Chloride, Salicylate, Benzaldehyde, Cinnamyl, Vanillin), By Application (Soaps and Detergents, Personal Care, Food and Beverage, Household Care): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global benzenoid market is envisioned to garner $1333.10 million by 2031, growing from $764.40 million in 2021 at a CAGR of 5.8% from 2022 to 2031.
Demand for benzenoid has increased in the foodservice, perfume, and cosmetics sectors. Growing personal care awareness, applicability in various industries, and increased disposable income are some of the reasons driving market expansion. Benzenoids have been in high demand throughout the COVID-19 pandemic for use in the production of soaps, detergents, cleaning solutions, sanitizers, and personal care products. However, the pandemic has had a significant impact on the cosmetics and fragrance industries.
Absorption of benzenoid can be poisonous and dangerous to health. For example, man-made chemicals that stay in the ecosystem might generate biomagnification, which can lead to acute or long-term toxicity. Furthermore, some of these compounds are carcinogenic and can affect human health, which is expected to limit the benzenoid market share during the projected period.
Development in the cosmetics and beauty industry, particularly in emerging economies, is likely to drive benzenoid market growth. Benzenoid is used in cosmetics, hygiene, and health products for aroma and flavor. Cosmetics, fragrances, and beauty oils have seen more sales as disposable income rises and middle-class aspirational purchasing rises. The growing adoption of Western trends, expanding need and awareness for skin care products, and industry participants' marketing techniques have increased demand for cosmetics and perfumes around the world, fueling the expansion of the benzenoid market.
The benzenoid market in the Middle East & Latin America region is growing at a significant pace. Growing influence of social media, fast-paced lifestyle, changes in consumer buying patterns, and rise in disposable income is estimated to drive the benzenoid market demand in this region. Also, male consumers in the middle east countries are more conscious about the fragrance products owing to growing influence of social media.
The presence of famous perfume brands in middle east countries namely Kayali, Arcadia, Odict, The Fragrance Kitchen, Lootah, and others have attracted large number of customers. In middle east countries alcohol is prohibited due to which fragrance oil such as sandalwood oil is used as a base ingredient for manufacturing perfume known as scent.
The coronavirus outbreak has hampered the operations of numerous enterprises worldwide. The benzenoid market, on the other hand, has seen consistent demand from end-use industries such as household care and taste & fragrance. The demand for fragrance compounds such as vanillin from personal care products such as shampoos, soaps, handwash, and detergents has increased significantly. This increase can be ascribed to rising public health, safety, and hygiene concerns. Because of the increased emphasis on personal cleanliness to avoid coronavirus, there has been an increase in demand for benzenoid, which is widely used in the production of soaps, detergents, handwash, and other goods. Furthermore, panic purchases of COVID-19 basics such as masks, hand sanitizers, handwash, soaps, and detergents have increased demand for benzenoid.
The key players profiled in this report include Jayshree Aromatics Pvt. Ltd., BASF SE, Firmenich SA, LANXESS, International Flavors & Fragrances, Inc., Valtris Specialty Chemicals, Eternis Fine Chemicals Ltd., Symrise AG, Sensient Technologies Corporation, and Givaudan.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the benzenoid market analysis from 2021 to 2031 to identify the prevailing benzenoid market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the benzenoid market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global benzenoid market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
Benzyl Acetate
Benzoate
Chloride
Salicylate
Benzaldehyde
Cinnamyl
Vanillin
By Application
Soaps and Detergents
Personal Care
Food and Beverage
Household Care
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
BASF SE
firmenich sa
Jayshree Aromatics Pvt. Ltd.
International Flavors & Fragrances, Inc.
Lanxess
valtris specialty chemicals
Eternis Fine Chemicals Ltd
Symrise AG
Sensient Technologies Corporation
givaudan
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