Selbyville, Delaware, June 03, 2021 (GLOBE NEWSWIRE) --
The 2-Phenylethanol Market is projected to cross USD 350 million by 2027, according to a new research report by Global Market Insights Inc. Significant shift of consumers towards processed food and beverages and rise in demand for premium cosmetic products in developed economies such as the U.S., Germany, Italy, and France is likely to fuel the demand for 2-phenylethanol.
Strong economic and higher purchasing power among the population has led to increase in spending on cosmetic products. This will further drive the growth of 2-phenylethanol industry over the forecast period.
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Some major findings of the 2-phenylethanol market report include:
- Natural 2-phenylethanol product witnessed highest growth rate over the forecast timeframe pertaining to rising consumer inclination towards natural and premium cosmetic and personal care products.
- Pharmaceuticals application segment comprised significant share of more than 15% in 2020, as the product is widely used in the pharmaceuticals products as a preservative and aromatic essence.
- Major players in the 2-phenylethanol industry are focusing on strategic initiatives such as partnership, mergers and acquisition, production capacity expansion and online selling of products to cater to rising demand of 2-phenylethanol primarily from cosmetic & personal care, and food & beverage industry.
- Asia Pacific 2-phenylethanol market is anticipated to register over 6.5% CAGR between 2021 and 2027, owing to high growth in food and pharmaceutical industry in the region.
Browse key industry insights spread across 165 pages 158 market data tables and 37 figures & charts from the report “2-Phenylethanol Market Forecasts by Products (Synthetic, Natural), Application (Cosmetics & Personal Care, Laundry & Home Care, Food & Beverages, Pharmaceuticals), Industry Analysis Report, Regional Outlook, Application Potential, Covid-19 Impact Analysis, Price Trend, Competitive Market Size & Forecast, 2021 - 2027” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/2-phenylethanol-market
2-phenylethanol market from laundry & home care application is anticipated to witness over 5.4% CAGR in the projected period. Phenylethanol is used as a preservative in detergent soaps due to its high stability in basic environmental conditions. Moreover, due to its antimicrobial properties and biocide capabilities, it is used in a variety of products such as pest control, disinfectants, and cleaning products. The aforementioned benefits of 2-phenylethanol in the laundry & home care application should drive the demand for cosmetic grade 2-phenylethanol in the forecast timeframe.
North America 2-phenylethanol market is anticipated to register over 5% CAGR between 2021 and 2027. Rapid growth in the cosmetic & personal care, food & beverage and pharmaceutical industry have boosted the demand for 2-phenylethanol in North America. High disposable income, higher standard of living of the consumers and increased spending are major factors leading to rapid growth in the cosmetic & personal care along with food & beverage industry in North America.
Browse the Toc of this report @ https://www.gminsights.com/toc/detail/2-phenylethanol-market
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https://www.gminsights.com/industry-analysis/erythritol-market
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.