Research Nester published a report titled “Fenchol Market: Global Demand Analysis Opportunity Outlook 2031” which delivers detailed overview of the global fenchol market in terms of market segmentation by application, by purity and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global fenchol market is anticipated to grow with a CAGR of ~4% during the forecast period, i.e., 2022-2031. The market is segmented by application into food additives and fragrances. In addition, the fragrances segment is expected to have the highest revenue by the end of 2031, owing to the extensive use of fenchol in perfumes, air fresheners, soaps, and candles. Higher consumer demand for these products is expected to fuel the segment's growth over the forecast period.
The global fenchol market is estimated to garner significant revenue by the end of 2031. Increasing utilization of fenchol in perfumes, candles, and soaps as well as high demand for fenchol as a flavoring additive in a wide variety of foods are expected to foster market growth throughout the forecast period. furthermore, advancement in living standards, higher levels of income, and rising consumer expenditure are some other major factors anticipated to drive the growth of the market during the forecast period.
Geographically, the global fenchol market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East Africa region. Out of these regions, the market in Asia Pacific is projected to garner significant revenue by the end of 2031 on account of rising sales of perfumes and fragrances in the region. For instance, the Asia-Pacific region accounts for nearly 40% of global fragrance sales, with China contributing about USD 1.60 billion, the highest contribution in the world. Hence, such factors are anticipated to influence the growth of the market positively over the forecast period.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Globally Increasing Perfume Exports and Demand to Drive the Market Growth
The International Trade Center (Trademap) reports that perfume exports to the United States were valued at USD 1,430,062 thousand in 2021, up from USD 1,218,442 thousand in 2020.
Global perfume exports and consumer demand for lighter-scented products are expected to contribute to fenchol sales during the forecast period. Moreover, the increasing sales of fragrance body sprays, mists, and splashes are also expected to drive the growth of the global fenchol market.
However, the availability of fenchol at a lower price and the existence of alternative products in the market are expected to operate as key restraints to the growth of the global fenchol market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global fenchol market which includes company profiling of Merck KGaA, Foreverest Resources Ltd., Jiangxi Global Natural Spice Co., Ltd., Penta International Corporation, Pfaltz and Bauer Inc, Formosa Plastics, Augustus Oils Ltd., Bedoukian Research Inc., Takasago International Corporation, and ECHEMI Technology Co., Ltd. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global fenchol market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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