Due to its vast uses across numerous sectors, the phenyl propanol market is booming and is projected to rise at a CAGR of 4.7%, producing an absolute $ potential of US$ 125.2 million.
Phenyl propanol is a chemical compound that is utilized as an intermediary in the pharmaceutical industry to create many different medications and active pharmaceutical ingredients (APIs). As the pharmaceutical industry continues to grow and innovate, there is a rising demand for it because it serves as a versatile building block for pharmaceutical compounds.
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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 flavoring 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.
· 5.1% 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.
“Government Initiatives and Consumer Shift Towards the Use of Plant-based Ingredients in Food & Personal Care Industry is Likely to Fuel the Phenyl Propanol Market” says a Fact.MR analyst.
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
- Associate Allied Chemicals
- M&U International LLC
- 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 flourishing trajectory of the US phenyl propanol market finds its roots intertwined with the robust growth of the personal care sector. As the beauty and personal care market in the United States continues its steady expansion, projected to reach a revenue of approximately US$ 92.8 billion in 2023, the surge in demand for innovative and premium personal care products plays a pivotal role in propelling the phenyl propanol market forward.
Phenyl propanol, an aromatic compound known for its delightful floral fragrance, has become a staple in the formulation of fragrances, essential oils, and a range of personal care items. Its appeal lies not only in its sensory attributes but also in its compatibility with the growing consumer preference for natural and organic ingredients. This inclination toward sustainability and wellness has led to a heightened interest in phenyl propanol derived from natural sources, capturing the attention of manufacturers and consumers alike.
As brands within the personal care industry vie to introduce novel and captivating products that resonate with evolving consumer preferences, the demand for phenyl propanol surges. This surge, in turn, acts as a catalyst for market growth. Moreover, the increasing awareness among consumers about the advantages of incorporating safe and sustainable ingredients further amplifies the call for phenyl propanol in various personal care applications.
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.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the phenyl propanol market, presenting historical market data (2018–2022) and forecast statistics for the period of 2023–2033.
The study reveals essential insights on the basis of the purity (<99% and >99%), function (fragrance masking agent, preservative, solvent, intermediate, and flavoring agent), application (cosmetics and personal care products formulation, pharmaceutical formulation, and food & beverage processing), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia, and Oceania, Middle East & Africa).
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