The phenyl propanol market is predicted to expand at a CAGR of 4.7% over the course of the forecast period, from a value of US$ 199.4 million in 2023 to US$ 315.6 million in 2033, generating an absolute US$ 125.2 million opportunity.
Due to its flavour and aroma, phenylpropanol is utilised as a fragrance and flavoring ingredient. Additionally, it functions as an intermediary in the synthesis of a number of medications and is used in cosmetic items.
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Due to phenyl propanol’s natural aroma qualities, the food sector has also demonstrated an increasing interest in the substance. It contributes to the increased demand from the food and beverage sector by serving as a flavouring ingredient in a variety of food products.
The thriving personal care market is one of the main factors propelling phenyl propanol market expansion. The demand for effective and secure ingredients is forecast to soar as the number of personal care consumers rises to 1.52 billion by 2027, with a user penetration rate of 14.5% in 2023 and an average spending estimate of US$184.1.
Due to its pleasant aroma and adaptability in formulations, phenyl propanol is widely used in cosmetics, perfumes, and skincare products. Demand for premium chemicals like phenyl propanol is increasing as customers’ concerns about the safety and quality of personal care products grow.
Key Takeaways from Market Study
- The market for phenyl propanol is anticipated to increase in value from US$ 199.4 million in 2023 to US$ 315.6 million in 2033.
- 1% increase is predicted for China during the forecasted timeframe.
- In 2023, the 99% purity segment is projected to account for a market share of 84.9% in North America, which is a significant region.
- ACS International, Ashland, Associate Allied Chemicals, Evonik, M&U International LLC, Minafin, and Shaanxi Yuantai Biological Technology Co., Ltd. are well-known companies that compete in the phenyl propanol market.
Market Growth Stratagems
Effective marketing and branding techniques can help businesses set their phenyl propanol apart from competing products and boost brand recognition. This will raise consumer knowledge of and market share for personal care and home care products based on phenyl propanol. The expansion of the network of suppliers and distributors is projected to accelerate the revenue growth of the market’s players.
Market players intentionally promote phenyl propanol as a natural and eco-friendly ingredient used in personal care and cosmetic products in order to draw potential customers who are willing to spend money on natural component-based personal care items.
The makers of phenyl propanol use this strategy to increase customer demand for the chemical in personal products, which end users are ready to accept. Strategic marketing and investments in the distribution channel therefore proved to be the best course of action for the companies competing in the target market.
Key Companies Profiled
- ACS International
- Ashland
- Associate Allied Chemicals
- Evonik
- M&U International LLC
- Minafin
- Shaanxi Yuantai Biological Technology Co., Ltd.
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Thriving Phenyl Propanol Market in the US: Nurtured by the Blossoming Personal Care Industry
The strong expansion of the personal care industry is closely related to the thriving trajectory of the US phenyl propanol market. The surge in demand for cutting-edge and high-end personal care products is a key factor driving the growth of the phenyl propanol market as the beauty and personal care market in the United States keeps growing steadily, with revenue estimates for 2023 of around US$ 92.8 billion.
It has become commonplace to use phenyl propanol, an aromatic chemical with a lovely flowery scent, in the creation of fragrances, essential oils, and a variety of personal care products. Its sensory qualities are appealing, but its compatibility with consumers’ growing taste for natural and organic products is also. Phenyl propanol obtained from natural sources has drawn increased interest from both producers and customers as a result of this trend towards sustainability and wellbeing.
The demand for phenyl propanol is rising as companies in the personal care sector compete to launch innovative and alluring products that resonate with shifting customer tastes. In turn, this uptick stimulates market expansion. Furthermore, the demand for phenyl propanol in various personal care applications is being further amplified by consumers’ growing knowledge of the benefits of using safe and sustainable chemicals.
Consequently, the thriving US personal care industry’s pursuit of innovation and high-quality offerings, coupled with the escalating preference for natural ingredients, forms a dynamic synergy that propels the phenyl propanol market to new heights. The intertwining of these trends underscores the significance of this compound in shaping the present and future landscape of personal care, and by extension, the broader market it serves.
Segmentation of Phenyl Propanol Industry Research
- By Purity :
- <99%
- >99%
- By Function :
- Fragrance Masking Agent
- Preservative
- Solvent
- Intermediate
- Flavoring Agent
- By Application :
- Cosmetics & Personal Care Products Formulation
- Pharmaceutical Formulation
- Food & Beverage Processing
- By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
