2-Phenylethanol Market to Garner $761.7 Million, Globally, By 2031 at 3.3% CAGR, Says Allied Market Research

5 min


0

Increased demand from the cosmetics & personal care industry and surge in demand for cleaning products drive the growth of the global 2-phenylethanol market.

PORTLAND, Ore., July 14, 2022 /PRNewswire/ — Allied Market Research published a report, titled, “2-Phenylethanol Market by Type (Natural and Synthetic) and End-use Industry (Food & Beverage, Personal Care & Cosmetics, Pharmaceutical, and Others): Global Opportunity Analysis and Industry Forecast, 2022–2031”. According to the report, the global 2-phenylethanol industry generated $491.7 million in 2021, and is anticipated to generate $761.7 million by 2031, witnessing a CAGR of 3.3% from 2022 to 2031.

Allied_Market_Research_Logo

Prime determinants of growth

Increased demand from the cosmetics & personal care industry and surge in demand for cleaning products drive the growth of the global 2-phenylethanol market. However, the availability of substitutes for 2-phenylethanol that offer higher performance restricts the market growth. Moreover, rise in demand for natural fragrance ingredients presents new opportunities in the coming years.

Request PDF Brochure: https://www.alliedmarketresearch.com/request-sample/17584

Covid-19 Scenario

  • The outbreak of the Covid-19 pandemic has had a negative impact on the global 2-phenylethanol market, owing to shutting off of almost all operations, manufacturing, and distribution of all industries.
  • The demand–supply gap, disruptions in raw material procurement, and price volatility further hampered the chemical industry, thereby affected the growth of the global 2-phenylethanol market.
  • On the contrary, increase in demand for home and personal hygiene products due to rise in awareness regarding the cleanliness boosted the growth of the 2-phenylethanol. This, in turn, tends to overcome the impact of COVID-19 on this sector.

The natural segment to maintain its leadership status throughout the forecast period

Based on type, the natural segment held the highest market share in 2021, accounting for more than two-thirds of the global 2-phenylethanol market, and is estimated to maintain its leadership status throughout the forecast period. Moreover, the same segment is projected to manifest the highest CAGR of 3.3% from 2022 to 2031, due to rise in health concerns among the population. The report also discusses about the synthetic segment.

Get Detailed COVID-19 Impact Analysis on the 2-Phenylethanol Market @ https://www.alliedmarketresearch.com/request-for-customization/17584?reqfor=covid

The personal care and cosmetics segment to maintain its lead position during the forecast period

Based on enduse industry, the personal care and cosmetics segment accounted for the largest share in 2021, contributing to more than two-fifths of the global 2-phenylethanol market, and is projected to maintain its lead position during the forecast period. Moreover, the same segment is expected to portray the largest CAGR of 3.4% from 2022 to 2031, as it acts as a preservative for the cosmetic products, is allergy-free, and does not cause any side effects. Other segments analyzed in the report are food & beverages and pharmaceuticals.

Asia-Pacific to maintain its dominance by 2031

Based on region, Asia-Pacific held the highest market share in terms of revenue in 2021, accounting for more than two-fifths of the global 2-phenylethanol market. Moreover, the same region is expected to witness the fastest CAGR of 3.4% from 2022 to 2031. The presence of high consumer base for personal care & cosmetics and food & beverage industries is the major factor driving the demand for 2-phenylethanol in the region. Other regions discussed in the report are North America, LAMEA, and Europe.

Leading Market Players: –

  • Apple Flavor and Fragrance Group Co., Ltd.
  • Eternis Fine Chemicals Ltd.
  • Firmenich SA
  • Harmony Organics Pvt., Ltd.
  • Kdac Chem Pvt., Ltd.
  • LyondellBasell Industries Holdings B.V.
  • Matrix Scientific
  • Symrise AG
  • TCI America
  • Yingyang (China) Aroma Chemical Group



Interested in Procuring This Report? Visit Here:


https://www.alliedmarketresearch.com/2-phenylethanol-market/purchase-options

Avenue Basic Plan | Library Access | 1 Year Subscription |

Sign up for Avenue subscription to access more than 12,000+ company profiles and 2,000+ niche industry market research reports at $699 per month, per seat. For a year, the client needs to purchase minimum 2 seat plan.

Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenueTrial

Get more information: https://www.alliedmarketresearch.com/library-access

Similar Reports:

Industrial Alcohols Market: Global Opportunity Analysis and Industry Forecast, 2017-2023

AEA Salicylic Acid Market: Opportunity Analysis and Industry Forecast, 2021–2030

Premium Salicylic Acid Market: Global Opportunity Analysis and Industry Forecast, 2021–2030

Organic Acids Market: Global Opportunity Analysis and Industry Forecast, 2017-2023      

Fungicides Market: Global Opportunity Analysis and Industry Forecast, 2019–2027

Salicylic Acid Market: Global Opportunity Analysis and Industry Forecast, 2021–2030



About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry. 

Contact:

David Correa

5933 NE Win Sivers Drive

#205, Portland, OR 97220

United States

Toll Free: 1-800-792-5285

UK: +44-845-528-1300

Hong Kong: +852-301-84916

India (Pune): +91-20-66346060

Fax: +1-855-550-5975

[email protected]

Web: https://www.alliedmarketresearch.com

Follow Us on: LinkedIn Twitter

Logo: https://breaktimenews.co.uk/wp-content/uploads/2022/07/Allied_Market_Research_Logo.jpg

 


Like it? Share with your friends!

0