Ethyl Linalyl Acetate Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI1636
Global Ethyl Linalyl Acetate Market Size will witness robust growth owing to its extensive use as a fragrance ingredient and perfuming agent. The synthetically derived product is a clear and colorless chemical with a softer, citrusy or bergamot, less lavender, fruity, elegant and refreshing aroma.
Ethyl linalyl acetate market is largely driven by the fragrance industry. Fragrance has become one of the most essential part in daily lives of people. Rising demand for aromatic scents in air fresheners and perfumes industry is driving the fragrance market greatly. The global air freshener industry was valued close to USD 10 billion and is likely to grow at a steady rate in the forecast period. Guests arriving in malls, multiplexes and hotels feel rejuvenated and good when the surrounding air is fresh and consist of mild fragrance. These factors are leading the air fresheners industry which in turn is fueling the ethyl linalyl acetate market demand.
Ethyl linalyl acetate market is also driven by the hospitality industry. It is one of the leading sector which uses such aroma as they need to greet and provide their guests with the best possible service and experience. Studies claim that about 75% of the people are attracted to the pleasant fragrance and would happily visit several times. Research also claims that about 90% of the people walk-out if they do not like the smell of the surroundings. These factors will have positive effects on the global ethyl linalyl acetate market.
The global perfumes market was valued close to USD 40 billion in 2016 and is likely to grow at a moderate CAGR. Changing lifestyles in the corporate world are urging people to use perfumes and other fragrances to keep themselves fresh and confident. Also, young population round the globe are demanding more fragrance due to ample varieties in perfumes and deodorants. Developing countries with rising GDP and awareness of self-grooming & hygiene are driving the global ethyl linalyl acetate market on a large scale.
The product is toxic to aquatic life and may result in long lasting effects. It may also cause serious eye and skin irritation if directly in contact. Also, due to its combustible nature, the chemical needs to be stored and used with caution. It is also recommended to use the product at a concentration level of maximum 40% due to its hazardous nature. These factors can hinder the ethyl linalyl acetate market growth in near future.
Based on the end-user industries, the global ethyl linalyl acetate market can be segmented into cosmetics, personal care, fragrances and household cleanings. Cosmetics has become an inevitable part in daily lives of people. Due to increasing disposable income and rising standard of living, people are more focused on using cosmetics for grooming purpose and to look & feel confident. It also helps in making a good impression on peers and clients. Apart from cosmetics the product also finds its uses in personal care products such as toiletries and oral care. In toiletries, the product finds its specific use in body gels and soaps.
The product finds its extensive use in air fresheners and perfumes industry. Rising demand for air fresheners in malls, offices and hotels is driving the ethyl linalyl acetate market hugely. The product is also used in household cleaners such as liquids and detergents due to its fresh and blended odor.
Considering regions, Asia Pacific consists of the fastest growing ethyl linalyl acetate market in terms of revenue. Developing countries such as India and China are likely to show significant growth in the regional ethyl linalyl acetate market due to rapidly developing cosmetic, personal care and fragrance industries. Developed regions such as Europe and North America are projected to show steady gains in the forecast period. Latin America and Middle East are likely to be the next emerging ethyl linalyl acetate markets due to steady increase of disposable income of people and rising standard of living.
Prominent players operating in the global ethyl linalyl acetate market include BASF SE, Pell Wall Perfumes, Penta Manufacturer, Moellhausen S.p.A., A. B. Enterprises, CPL Aromas, CG Herbals, Givaudan, Bell Flavors & Fragrances and China Flavors & Fragrances Co. Ltd. to name a few.
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