Lauric Aldehyde Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI1495
Lauric Aldehyde Market size is driven by consumers changing habits, taste & preference in food and change in lifestyle. Rising demand from end use industries including cosmetics & personal care is likely to drive the lauric aldehyde market due to change in demographic & income trends and perception of style. Adoption of customized fragrances and high spending on personal grooming are the driving factors for lauric aldehyde market growth in future. Owing to its usage as an additive in perfumes and soaps for its long-lasting fragrance property will further fuel the product penetration.
Expansion in food & beverage industry and rising demand for healthy edible products are key reasons to propel the lauric aldehyde market demand. Products presence in natural sources such as ginger, coriander, peel oil and used as a flavoring agent for its superior taste and fragrance will fuel the product growth. Increasing consumer consciousness pertaining to health and regulatory norms in order to reduce the use of synthetic products for flavoring is likely to fuel product growth in forecast period.
Growth in e commerce business also acts as an assertive force for the lauric aldehyde market growth as it is used for the marketing and selling of cosmetic and personal care products which provides ease of purchasing. Increasing western culture and change in demographics are the driving factors for upsurge in lauric aldehyde market demand in forecast period. High cost, price fluctuation and scarcity of product are some key restraining factors for product market growth.
Rising environmental concerns and reduced development of toxic waste are anticipated to drive the lauric aldehyde market size in predicted time frame. The product belongs to the organic class and known as medium chain alkanal, which is colorless liquid coupled with pleasant floral odor. As product is highly soluble in alcohol, thus it is used as a key agent in perfumes. In recent years, extensive interest has grown in chemical industry owing to their feasible opportunity in order to replace synthetics products from natural & renewable based counterparts and label with natural mark as per the food regulations. As per EU regulation lauric aldehyde produced by biotechnology process from natural sources are classified as natural flavoring agent and they further propel the product growth during forecast period.
North America, is anticipated to witness a significant growth in forecast period owing to positioning of product as a key component in perfumes, drinks and food. Additionally, high usage of cosmetics and personal care products by youths gives a significant impact on the product growth in this region.
Europe led by Germany, is the major contributor in lauric aldehyde market. Maximum usage of natural product over synthetic ones for edibles is the driving factor for product growth. Increasing demand for personal care product due to the presence of ageing population in this region will fuel the product demand.
Asia Pacific, led by China and India is expected to hold the largest share of lauric aldehyde market in forecast period. Increasing consumer spending and change in standard of living are few reasons which will uplift the product demand in this region. Growing personal grooming importance among females and teenagers regarding the use of famous brands of cosmetics and perfumes acts as a big opportunity for lauric aldehyde market growth as it offers the excellent fragrance.
The key market players in lauric aldehyde market includes Fleurchem, Indukern, Penta International, AlliChem, SRS Aromatics and Vigon international. Some other notable players include Astier Demarest, Metadynea, Kalpsutra chemicals Pvt. Ltd, Lermond company and Alfa Chemistry. For an instance, In October 2015 Kalpsutra chemicals Pvt. Ltd had launched a chemical compound and natural rose oxide for perfume due to high demand for variety of fragrances in perfumes.
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