The global phenylethanol market will reach a valuation of US$ 1.9 billion in 2024, driven by emergence of new applications. The trend is set to create new opportunities for the market, leading to a projected CAGR of 4.4% between 2024 and 2034, and reaching US$ 2.9 billion by 2034. There is a growing demand for eco-friendly packaging solutions made from natural and biodegradable materials, as environmental concerns escalate.
The natural origin of phenylethanol makes it a suitable ingredient for fragrances used in sustainable packaging materials, including paper based packaging, bio-plastics, and compostable films, aligning with the efforts of industry towards sustainability.
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Digitalization is revolutionizing the fragrance and flavor industry, offering opportunities for innovation, efficiency, and customer engagement. Integration of digital technologies such as artificial intelligence, IoT enabled devices, and blockchain can enhance supply chain visibility, product quality control, and personalized marketing efforts, fueling the market growth.
Stringent health and safety regulations, along with increasing consumer awareness, are driving companies to prioritize product safety and quality standards. Phenylethanol suppliers can differentiate themselves by adhering to strict manufacturing practices, obtaining relevant certifications, and providing comprehensive safety data to reassure customers and comply with regulatory requirements.
The clean beauty movement, which advocates for products free from potentially harmful ingredients, is gaining momentum globally. The natural and non-toxic properties of phenylethanol, position it as a preferred ingredient in clean beauty and personal care products, including natural perfumes, organic skincare, and sulfate free shampoos, driving demand within this segment.
Consumers are increasingly prioritizing ethical and sustainable purchasing decisions, favoring brands that demonstrate social responsibility and ethical sourcing practices.
Key Takeaways from the Market Study
- Global phenylethanol market was valued at US$ 6 billion in 2023.
- From 2019 to 2023, the market demand expanded at a CAGR of 7.4%.
- The market in China to expand at a CAGR of 12.8% through 2034.
- By form, the powder segment to account for a share of 33.2% in 2024.
- The market in the United States will expand at a CAGR of 12.6% through 2034.
- By end use application, the good grade segment to account for a share of 35.9% in 2024.
“Phenylethanol suppliers can implementing transparent and ethical supply chains, supporting fair trade practices, and investing in community development initiatives,” remarks an FMI analyst.
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Competitive Landscape
Prominent players in the phenylethanol market are Vigon International, Firmenich SA, Symrise AG, LyondellBasell Industries, Shandong Xinhua Pharmaceuticals Co., Ltd, Ethernis Fine Chemicals, and Novorate Biotech Co. Ltd., among others.
Company Portfolio
- Symrise AG is a leading supplier of fragrances, flavors, and active ingredients for the food, beverage, and personal care industries. The company offers Phenylethanol as a versatile fragrance ingredient, providing floral and rose like notes to perfumes, colognes, and toiletries. Their Phenylethanol formulations are tailored to meet the specific requirements of customers in the fragrance industry.
- LyondellBasell Industries is a multinational chemical company specializing in plastics, chemicals, and refining. The company produces Phenylethanol as a chemical intermediate for various applications, including fragrances, solvents, and pharmaceuticals. Their Phenylethanol is used in the synthesis of fragrance compounds, pharmaceutical ingredients, and specialty chemicals.
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global phenylethanol market, providing historical data for 2019 to 2023 and forecast statistics from 2024 to 2034.
To understand opportunities in the phenylethanol market, the market is segmented on the basis of form (powder, liquid), and end use application (feed grade, food grade, cosmetic grade, pharma grade, industrial grade), across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and Middle East & Africa).
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Segmentation Analysis of the Phenylethanol Market
By Form:
- Powder
- Liquid
By End Use Application:
- Feed Grade
- Food Grade
- Cosmetic Grade
- Pharma Grade
- Industrial Grade
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- The Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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