Benzenoid Market Overview to 2023
Benzenoids belong to a special class of aromatic organic compound which contain one or more benzene ring such as naphthalene, anthracene, phenanthrene, pyridine, and others. Naturally, they are found in leaves & flowers, oil, and wood & bark. They are widely utilized in numerous application such as cosmetics & personal care, soap & detergent, household products, food & beverage, and others, owing to its aroma and scent. As per our analysis, some of the important market factors and trends identified in the global Benzenoids resin are, growing awareness, increasing consumption of flavored dairy products, rising population. Rising number of working professional coupled with increasing per capita disposable income is expected to boost up the demand for Benzenoid over the forecast period.
North America is estimated to witness a substantial growth in Benzenoid Market due to a strong consumer base for various industries along with the rising investments to revitalize food & beverage sector over the forecast period. In North American region, countries such as the U.S. and Canada are among the prominent contributors in the regional growth of Benzenoid Market and are predicted to see a significant demand for Benzenoid during the assessment period, 2017 to 2023. The U.S accounted for the largest market share and is followed by Canada in terms of value and is predicted to grow with the moderate CAGR due to growth in pharmaceutical sector.
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Top 10 Global Key Players:
Some of the prominent players operating in the Global Benzenoid Market are
- BASF SE (Germany),
- Sigma-Aldrich Co. LLC. (U.S.),
- The Good Scents Company (U.S.),
- International Flavors & Fragrances (U.S.),
- Givaudan (Switzerland),
- Firmenich (Switzerland),
- Quest International (the Netherlands),
- Takasago (Japan),
- Haarmann & Reimer (Germany),
- Sensient Technologies (U.S.),
The Global Benzenoid Market is classified on the basis of type, application, and region. On the basis of type, the market is bifurcated into natural and synthetic. On the basis of application, the market is categorized into food & beverage, cosmetics & personal care, soap & detergent, household products, and others. On the basis of region, the market is segmented into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.
- Benzenoid Manufacturers
- Traders and Distributors of Benzenoid
- Production Process Industries
- Potential Investors
- Raw Material Suppliers
- Nationalized Laboratory
Asia Pacific regional market is predicted to grow with the highest CAGR over the assessment period, (2017 to 2023) on account of expansion of various end use application such as soap & detergent, cosmetics & personal care, and household products. The demand for Benzenoids is predicted to surge in numerous countries of the Asia Pacific such as Malaysia, China, Thailand, India, Vietnam, and South Korea due to growing demand for cosmetics and personal care products. In Asia Pacific, China and India are predicted to hold the major market share in terms of volume and is estimated to continue their dominance due to increasing purchasing power, availability of cheap labor & land, and soberly strict regulatory framework. Latin American countries such as Argentina, Brazil, and Colombia are predicted to dominate the regional market share on account of rising consumer spending on beauty care products and strong presence of personal care brand names. The Middle Eastern & African countries such as Oman, Kuwait, Qatar, Saudi Arabia, and the United Arab Emirates (UAE) are among the major contributors in the regional market growth and is estimated to positively influence the end use industries growth over the forecast period.
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Moreover, increasing demand for aromatic soap and detergent along with growing public laundry sector is estimated to give a new momentum to the demand for Benzenoids. Additionally, rapid expansion of end use industries in developing countries is expected to positively influence demand patterns. Moreover, changing lifestyle and growing purchasing power of people are some other factors which are expected to positively influence the growth of the market.
Benzenoids belong to a special class of aromatic organic compound which contain one or more benzene ring such as naphthalene, anthracene, phenanthrene, pyridine, and others. Naturally, they are found in leaves & flowers, oil, and wood & bark. They are widely utilized in numerous application such as cosmetics & personal care, soap & detergent, household products, food & beverage, and others, owing to its aroma and scent.
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