New York, Sept. 10, 2020 (GLOBE NEWSWIRE) -- The Geranyl Acetone Market is projected to reach USD 302.9 million by 2027. The market is fueled by the rising trend of usage of Geranyl Acetone in pharmaceutical & medicated products, and extensive growth of the overall cosmetic & personal care industries, and proliferating usage of food-flavoring agents. Huge demand for the personal care industries specializing in skincare, hair care products, and a sudden enormous lift in the growth of the medicated personal care & topical medicine have substantially propelled the overall Geranyl Acetone market growth and expected to add to the market share in the forthcoming years.
Aspirin, neryl acetate, geraniol, citronellyl acetate, geranyl formate, geraniol terpene, geraniol mosquito repellent, and 6-methyl-5-hepten-2-one to name a few, are the hugely in demand topics and factors the end-users are concerned about and have been influencing the Geranyl Acetone market growth in many ways, have been additionally discussed in details in the report. Leading and growing players in the market that have been investing an extensive amount in the research & development in such corresponding factors and have observed enormous growth in their business.
Europe is forecast to sustain its domination in the market with the highest revenue by 2027, owing to its century-old formulations and R&D in the perfume & cosmetics industries from the pioneer countries of the market such as France, England, and Germany.
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The COVID-19 impact:
The COVID-19 pandemic has created endless disruptions to the manufacturing or production industries due to a shortage of resources in different parts of the world. The leading players in the industry are sceptical about the market's future and try to redesign their strategies to overcome the challenge. The pandemic had a serious impact on research & development as the companies are refraining from investing in any newer aspect of research or product innovation for the time being. The manufacturing industries also have been disrupted due to reduced availability of human resources. The companies are incorporating different techniques to increase the production volume and trying to develop innovative solutions at an affordable price, which can meet customer requirements at a much lower cost and support the overall breakthrough required for sustainability in the increased bleaching & sterilizing product penetration.
Further key findings from the report suggest
- Domestic grade is referred to as the manufacturing processes used by companies that produce end-use products for the household usage or intended to be used by common individuals. The domestic grade Geranyl Acetone market is expected to be fastest growing with a 5.3% CAGR during the projected time period.
- The extraordinary growth in the perfume & deodorant market due to impressive new product line-ups and active young consumer base is the prime diver of this market. The perfumes are solely made with synthetic chemical compounds. Because of the biotechnological advancements, the synthetic ingredients have accomplished a considerable improvement. New odors and flavors have been developed according to various tastes, which would cater to the new consumers resulting in the market growth.
- Rapid urbanization and a rise in disposable income coupled with an increase in awareness regarding health issues are the factors driving the Geranyl Acetone market growth during the forecast period. Rising prevalence of the usage of sterilizing products during the coronavirus pandemic is also propelling the demand for the overall market. Favorable outlook towards bleaching products will also drive the demand for the Geranyl Acetone
- Advancement in manufacturing techniques, a higher availability of the resources for the manufacturing units, dexterous processing technique, higher production capacity, increased consumers, and favorable business models of export & import in the Asia Pacific developing countries would add to market growth.
- Key participants include The Good Scents Company, ECSA Chemicals, Beijing LYS Chemicals Co., Ltd., BASF SE, DSM, Fleur-Chem, Inc., Elan Chemical Company, Ascent Finechem Private Limited, Gujarat Alkalies and Chemicals, and Neshiel Chemical, among others.
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For the purpose of this report, Reports and Data have segmented the global Geranyl Acetone market on the basis of form, grade, sales channel, applications, and region:
Form Outlook (Revenue: USD Million; Volume: Kilo Tons; 2017-2027)
- Liquid
- Powder
Grade Outlook (Revenue: USD Million; Volume: Kilo Tons; 2017-2027)
- Domestic Grade
- Industrial Grade
Sales Channel Outlook (Revenue: USD Million; Volume: Kilo Tons; 2017-2027)
- Online Retails
- Offline Retails
Applications Outlook (Revenue: USD Million; Volume: Kilo Tons; 2017-2027)
- Perfumery Agents
- Flavoring Agnets
- Pharmaceuticals
- Chemicals Industry
- Others
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Regional Outlook (Revenue: USD Million; Volume: Kilo Tons; 2017-2027)
- North America
- U.S
- Canada
- Europe
- Germany
- UK
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Rest of APAC
- MEA
- Saudi Arabia
- UAE
- Rest of MEA
- Latin America
- Brazil
- Rest of LATAM
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