Leading Benzenoid Application Markets Databank
The Benzenoid market was valued at $672.3 Million in 2020, and is projected to reach $953.0 Million by 2029 growing at a CAGR of 4.01% from 2021 to 2029. Cosmetics & Personal Care segment is expected to be the highest contributor to this market, with $180.3 Million in 2020, and is anticipated to reach $241.8 Million by 2029, registering a CAGR of 3.37%. Food & Beverage segment is anticipated to reach $232.0 Million by 2029 with the highest CAGR of 5.17%. Cosmetics & Personal Care and Soaps & Detergent segments collectively expected to account for about 51.7% share of the Benzenoid market in 2020, with the former constituting around 26.8% share. Food & Beverage and Cosmetics & Personal Care segments are expected to witness significant growth rates at a CAGR of 5.17% and 3.37% respectively, during the forecast period. Presently, share of these two segments is estimated to be around 48.8% in the overall Benzenoid market in 2020, and is anticipated to reach 49.7% by 2029.
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