Dihydromyrcenol Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI1530
Global Dihydromyrcenol Market size is expected to register a prominent CAGR during the forecast period. Dihydromyrcenol is a pale yellow colored liquid with strong smell like fresh lime and sweet citrus & floral aroma. It is soluble in alcohol and paraffin oil and insoluble in water. These characteristics makes the product suitable to find widespread applications in the cosmetic industry.
Dihydromyrcenol is a key ingredient of fragrance chemicals used across cosmetics and personal care products industry. The prime factors that are fueling the global fragrance chemical industry growth are increasing spending on personal care products due to rise in disposable income of consumers, constant new product development and launch by leading market players of fragrance chemical industry. This steady growth in fragrance chemicals industry will eventually propel the dihydromyrcenol market size during the forecast period.
Development of natural and organic fragrances is likely to create attractive growth avenues for the dihydromyrcenol market size in the coming years. Moreover, the rising number of online portals dealing with sales of cosmetics and exclusive personal care products have significantly fueled the fragrance chemical industry, resulting in driving the dihydromyrcenol market size. The industry players are implementing various marketing tactics to get rid of the fluctuations in of dihydromyrcenol market price trends. The increasing fragrances demand and hence increasing demand for produced coupled with the growing popularity of customized perfumes are factors anticipated to propel the dihydromyrcenol market size in the future.
The continuous need to upgrade & advance in fragrance chemical industry and manufacture new fragrances that grab attention of consumers worldwide is a major challenge to the dihydromyrcenol market growth in the forecast timespan. Moreover, threat of substitutes such as organic fragrances may slow down the industry growth as more and more consumers are opting for biodegradable and environment friendly products.
Based on application, the dihydromyrcenol market is classified into soaps & detergents, fabric softeners, air fresheners, cosmetics, personal care and fragrance industry. Soaps & detergents industry is expected to have a greater chunk of global dihydromyrcenol market share during the forecast period, followed by cosmetic & toiletries sector. The dihydromyrcenol market is majorly influenced by advanced consumer products, precisely in products such as skin and hair care products. The product is also used as an intermediate in production of derivatives such as tetrahydromyrcenol, myrcetol and compounding fragrances.
Fragrances have transformed from non-essential commodity to a mainstream product in the cosmetic industry. It has become part of consumers’ daily life and an important product in personal grooming segment. Thus, the dihydromyrcenol market has direct impacts from any trends in the beauty and fashion industry as they have direct influence on the growth of cosmetics industry. Due to its strong smell characteristics, the product is an essential ingredient in manufacturing of soaps & detergents and toiletries, particularly in all those fields where the fragrance plays a key role in acceptability of the product by the consumers.
Asia pacific is anticipated to lead global dihydromyrcenol market in terms of demand and production during the forecast period. In 2016, Asia Pacific accounted for near about 25% share of the overall fragrances industry and is most likely to offer lucrative growth opportunities for the dihydromyrcenol market size in the coming years. This is mainly due to growing consumerism and increased awareness about personal health and hygiene, especially in the cosmetics and related products segment. Specifically, in countries such as India, Brazil, China and South Korea, the rise in per capita income has empowered consumers’ purchasing power tremendously. However, Europe and North America are anticipated to display decline in demand for synthetic perfumes in the coming years, due to rising organic fragrances demand.
The major players in the diisopropyl naphthalene market share are Manish Minerals & Chemicals, Phoenix Aromas & Essential Oils, Suru Chemicals, The Good Scents Company, Himalaya Terpenes Limited, Santa Cruz Biotechnology, Privi Organics Limited, Premier Chem Corporation, Global Enterprises and Anthea Aromatics.
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