Global Terpenes Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Terpenes Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Terpenes are aromatic compounds found in many plants, though many people commonly associate them with cannabis because cannabis plants contain high concentrations of them. These aromatic compounds create the characteristic scent of many plants, such as cannabis, pine, and lavender, as well as fresh orange peel.

Market Overview:

The latest research study on the global Terpenes market finds that the global Terpenes market reached a value of USD 692.44 million in 2022. It’s expected that the market will achieve USD 1080.02 million by 2028, exhibiting a CAGR of 7.69% during the forecast period.

Repeated COVID-19 epidemic.

Recently, with the advent of low temperature, the COVID-19 epidemic situation in various places has become serious again. Affected by the COVID-19 epidemic before, international trade has fallen sharply. Affected by Sino-US economic and trade frictions and trade conflicts between the United States and other countries, global international trade has shrunk in 2019. Affected by the new crown epidemic in 2020, international trade continues to shrink. In addition, the terpene industry chain will also be affected. The prevention and control of the epidemic has led to longer customs inspections in various countries, resulting in higher tariffs. Secondly, the import and export of raw materials and the trade of finished products will also be hit. For example, Anyuan Chemical Industry Co., Ltd., whose raw materials for the production of terpene are imported from overseas by tankers, if the epidemic continues, it will cause great problems for the production of the company. Therefore, if COVID-19 continues and shows a trend of normalization, it will be a greater challenge for the terpene industry.

Increasingly aspects are used.

Terpenes are highly aromatic compounds that can provide a unique fragrance. It determines the smell of many plants and herbs (such as rosemary and lavender, as well as certain animals). Because terpenes produce strong odors, they form the basis of many essential oils and are part of many alternative therapies (such as aromatherapy). Scientists believe that inhaling the aroma of certain plants and essential oils may affect a person's mood and stress level. Therefore, a large number of manufacturers choose to add terpenes to fragrances, such as perfumes, body products, and even foods, so that the products can obtain fragrance in a natural and healthy way, which is beneficial to health.

Traditional production methods limit the development of the industry

The traditional production methods of terpenes are extracted from natural plants or chemically synthesized. These two methods have very strict requirements for sample preparation, sampling and sample delivery. For example, in sampling, fresh samples need to be taken quickly and try to be consistent in time; the location of the material should be unified to ensure a unified physiological location. Fresh samples should be frozen in liquid nitrogen, dry ice or cold storage at -80 degrees immediately after taking the material. Such a method has problems such as low output, high energy consumption, complicated operation process, and easy pollution, which has great limitations on the terpene industry.

Region Overview:

From 2022-2027, Asia Pacific is estimated to witness robust growth prospects.

Company Overview

FUJIAN GREEN PINE is one of the major players operating in the Terpenes market, holding a share of 3.47% in 2022.

FUJIAN GREEN PINE

Qingsong is a high-tech enterprise specializing in the production, research and development and sales of aromatic chemicals, Chinese herbal medicines, pharmaceutical intermediates and functional chemicals. The existing synthetic camphor, camphene, isobornyl acetate, camphor sulfonate The deep-processed products of turpentine oil such as acid, borneol, p-cymene, dipentene, sodium acetate, anhydrous sodium acetate, etc., are widely used in medicine, flavor and fragrance, cosmetics, daily chemicals, coatings and other industries.

Yasuhara Chemical

Yasuhara Chemical is a leading manufacturer of terpene derivatives. Yasuhara produces hydrogenated terpene phenol resin, hydrogenated terpene resin, hydrogenated aromatic modified terpene resin, high softening point resin, etc.

Segmentation Overview:

By type, Monoterpenes segment accounted for the largest share of market in 2021.

Application Overview:

The market's largest segment by application is the segment Cosmetic Industry, with a market share of 39.02% in 2021.

Key Companies in the global Terpenes market covered in Chapter 3:

Xinghua Natural Spice
ROSIN CHEMICAL
Kraton Corporation
Himachal Terepene Products
FUJIAN GREEN PINE
Arora Aromatics
Natural Fractions
AOS Products
Interstate Commodities
Mentha & Allied Products
Yasuhara Chemical
Haoxing Chemical

In Chapter 4 and Chapter 14.2, on the basis of types, the Terpenes market from 2018 to 2029 is primarily split into:

Hemiterpenes
Monoterpenes
Sesquiterpenes
Diterpenes
Sesterterpenes
Triterpenes
Sesquarterpenes
Tetraterpenes
Polyterpenes
Norisoprenoids

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Terpenes market from 2018 to 2029 covers:

Cosmetic Industry
Food Industry
Pharmaceutical Industry

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)