- The increasing usage of personal care & oral care products, growing emphasis on premium & luxury cosmetics products, and increasing disposable income in developing regions are driving the demand for the market.
- Market Size – USD 144.5 million in 2019, Market Growth - CAGR of 4.2%, Market Trends – Drastic growth of personal care & fragrance products.
NEW YORK, Aug. 27, 2020 /PRNewswire/ -- The GlobalHydroxycitronellal Market is projected to reach USD 192.7 million by 2027. The market is fueled by the rising trend of usage of hydroxycitronellal in fragrance & flavor intensifying applications, extensive growth of the overall cosmetic & personal care industries, and the proliferating usage of food-flavoring agents. Huge demand for personal care products, particularly skin and hair care products and sudden growth of the medicated personal care & oral care products, has substantially propelled the overall hydroxycitronellal market growth and is expected to add to the hydroxycitronellal market share predominantly in the coming years.
Hydroxyisohexyl 3-cyclohexene carboxaldehyde, perfumery equipment, perfumers alcohol, perfume-making equipment, and perfume supplies, to name a few are the hugely demanding topics and factors that the end-users are concerned about and have been influencing market growth in many ways have been discussed in detail in the report. Leading and growing players in the market that have been investing an extensive amount in the research & development in such corresponding factors have observed enormous growth in their business.
Europe is forecast to sustain its superiority in the hydroxycitronellal market in terms of premium products, owing to its century-old formulations and R&D in the perfume & cosmetics industries from leading countries in the market, such as France, England, and Germany. However, the overall growth of the market has decreased drastically as the European Union has restricted the usage of chemicals having allergenic properties to up to 1.0% of maximum concentration.
COVID-19 Impact Analysis:
The COVID-19 pandemic has created endless disruptions for the manufacturing or production industries due to a shortage of resources in different parts of the world. The leading players in the industry are skeptical about the market's future and are trying to redesign their strategies for such challenges. The pandemic had a serious impact on research & development as the companies are currently refraining from investing in any newer aspect of research or product innovation. Manufacturing industries have also been disrupted due to the lack of human resources. Companies are incorporating different techniques to increase the production volume and trying to develop innovative solutions at an affordable price, which can meet customer requirements at a much lower cost and support the overall breakthrough required for sustainability in the increased fragrance product penetration.
Domestic grade of hydroxycitronellal is used in their manufacturing processes by companies that produce end-use products for household usage or that are intended to be used by the common individuals. Domestic grade is the fastest-growing segment, with a CAGR of 5.3% during the projected period.
The extraordinary growth in usage of hydroxycitronellal in the perfume & deodorant market due to impressive new product line-ups and active youth consumer base is the prime driver for market growth. Perfumes are solely made by synthetic chemical compounds. Due to biotechnological advancements, synthetic ingredients have progressed considerably. New odors and flavors have been accumulated according to various tastes, which would cater to the new consumers boosting the growth of the hydroxycitronellal market.
Rapid urbanization and a rise in disposable income coupled with an increase in awareness regarding health issues are the factors driving the market growth during the forecast period. Rising prevalence of the usage of sterilizing products during the coronavirus pandemic is also propelling the demand for the overall market. Favorable outlook towards bleaching products will also drive the demand for the market.
Advancement in manufacturing techniques, higher availability of the resources for manufacturing units, dexterous processing technique, higher production capacity, wider consumer bases, and favorable business models of export & import in the developing countries in Asia Pacific have been favorable for raw material and chemical products outsourcing.
Key participants include Zhejiang NHU Co. Ltd., The Lubrizol Corporation, Miltitz Aromatics GmbH, BASF SE, Cargill, Incorporated, Evonik Industries AG, Shanghai Tovan Biochem, Vigon International, Inc., Schmidt GmbH & Co. KG, and Hangzhou Hairui Chem, among others.
For the purpose of this report, Reports and Data has segmented the global market on the basis of type of fragrance, grade, sales channel, applications, and region:
Type of Fragrance Outlook (Revenue: USD Million; Volume: Kilo Tons; 2017-2027)
Grade Outlook (Revenue: USD Million; Volume: Kilo Tons; 2017-2027)
Sales Channel Outlook (Revenue: USD Million; Volume: Kilo Tons; 2017-2027)
Applications Outlook (Revenue: USD Million; Volume: Kilo Tons; 2017-2027)
Regional Outlook (Revenue: USD Million; Volume: Kilo Tons; 2017-2027)
Rest of Europe
Rest of APAC
Rest of LATAM
Middle East & Africa
Rest of MEA
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