Global Anisole Market worth over $105 million by 2024
Published Date: September 10, 2018 Authors: Kiran Pulidindi, Hemant Pandey
According to a new research report by Global Market Insights, Inc., the Anisole Market size will surpass $105 million by 2024. The upward trends particularly in the men cosmetics area of application will drive the growth of global market during the forecast period.
The male populace across the globe has been gradually indulging in beauty & personal care products. Demand for men-face washes and creams has increased manifold over the years. According to Personal Appearance Survey statistics by Euromonitor International, in the developed geographies, men are indulged in using beard shampoos, beard creams, lip balms and foundation.
Besides, as more men get involved in refining their appearance with enhanced grooming habits, it will be vital for manufacturers to create products aimed at male personal care, which in turn will present significant growth prospects for anisole market in the cosmetics and personal care sector.
The U.S. presents the most encouraging domestic environment for the commercialization and development of pharmaceuticals with the minimum industry barriers. The United States attracts most global venture capital investments in start-up biopharmaceutical enterprises. The U.S. healthcare spending increased 4.3% in 2016, thereby reaching about USD 10,348 per person, i.e. USD 3.3 trillion.
The overall share of regional gross domestic product (GDP) related to health care spending was 17.9 % in 2016, up from 17.7% in 2015. Significant growth prospects in pharmaceutical sector will also propel anisole market share during the forecast timespan.
Browse key industry insights spread across 162 pages with 183 market data tables & 23 figures & charts from the report, “Anisole Market By Purity (Up To 99.5%, Above 99.5%), By Application (Pharmaceuticals, Cosmetics, Food), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2024” in detail along with the table of contents:
Anisole with purity up to 99.5% was the popular segment in global methoxybenzene market in 2017, with a revenue share above 50%. Leading industry participants such as, Atul Ltd., Clean Science Inc., Westman Chemicals Pvt. Ltd., etc. have been involved in manufacturing anisole with purity up to 99.5%.
Cosmetics area of application will have highest share surpassing 35% in global anisole (methoxybenzene) market. The product is used to produce fragrances, perfumes and various beauty care products to offer aromatic smell. Pharmaceuticals segment rise with a CAGR of 4.4% in anisole market through 2024. The product will have robust demand for its usage as a key precursor in manufacturing numerous pharma solutions.
Asia Pacific contributed to the highest market share of above 30% in 2017. The region has been a significant market for anisole in various personal care products and cosmetics. The growth was attributed to the enhanced discretionary expenditure and rising consumer preference for premium products.
APAC will also register substantial demand for anisole in pesticides with strong growth trends in the agricultural sector. For instance, China government has increasingly shifted its focus to reforming agriculture. Several government initiatives in India such as: ‘Paramparagat Krishi Vikas Yojana’, ‘Pradhan Mantri Fasal Bima Yojana’ etc. are aimed to propel the regional agricultural production in the next decade.
Under India’s ‘Blue Revolution Vision’, the Indian government has invested around $470 million, with the aim to maintain an annual growth rate of 6-8% of the agriculture and allied sector.
The key players profiled in the anisole industry include Merck, Solvay SA, Atul Ltd., Huaian Depon Chemical Co., Oakwood Products, Inc., etc.