The analysts forecast the global benzyl alcohol market to grow at a CAGR of 5.42% during the period 2017-2021.
The report covers the present scenario and the growth prospects of the global benzyl alcohol market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of paints and coatings, personal care, pharmaceutical, and others. The report also includes a discussion of the Key vendors operating in this market.
According to the report, one of the major drivers for this market is Role of benzyl alcohol as a preservative and flavoring agent. Benzyl alcohol is used as a flavoring agent in food and beverages. It increases the shelf life of food products and is thus popularly used in the F&B industry. The emergence of new business models is expected to transform the entire food retail scenario, which will increase the demand for processed food and beverages. Busy lifestyles and change in food habits fuel the demand for ready-to-eat meals.
The latest trend gaining momentum in the market is Increasing use of benzyl alcohol in personal care products Benzyl alcohol is used as a preservative in personal care products and cosmetics such as body lotions, sunscreens, shampoos, soaps, and hair care solutions. It is derived from organic sources and is thus in high demand. The rising demand for perfumed lotions and other fragrant products has increased the customer base of benzyl alcohol.
Further, the report states that one of the major factors hindering the growth of this market is Harmful effects of benzyl alcohol. Benzyl alcohol is used in numerous industrial applications and the global benzyl market is growing at a moderate rate. However, side effects caused by the toxic content in the chemical limits its widespread use. Preservatives used in food and beverages should inhibit the growth of microbial organisms without any adverse effect on human health. Benzyl alcohol used in food and beverages is known to have a mild effect on human cells. It causes mild irritation to skin, mucous membrane, and eyes.