Rockville, Aug. 15, 2023 (GLOBE NEWSWIRE) -- As per Fact.MR, a market research and competitive intelligence provider, the global Beta-Damascenone Market is forecasted to climb at a steady CAGR of 4.3% over the next ten years and reach a valuation of US$ 83.38 million by the end of 2033. Beta-damascenone manufacturing companies are projected to target Asian countries such as China, India, and South Korea to benefit from the surging demand for personal care products in these markets.
Growing popularity of aromatherapy, increasing exports of cosmetics, increasing spending on home hygiene and personal hygiene, and evolving consumer preferences are other factors that could boost demand for beta-damascenone in the long run. Preference for clean-label ingredient and natural ingredient-based products around the world is increasing and this could create demand for natural beta-damascenone by the end of the forecast period.
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This comprehensive beta-damascenone market research report by skilled analysts at Fact.MR, a market research and competitive intelligence provider gives a detailed understanding of current and future market trends, while profiling companies such as Firmenich SA, International Flavors & Fragrances Inc., and Axxence Aromatic GmbH.
Key Takeaways from Market Study
- The global beta-damascenone market stands at a valuation of US$ 54.73 billion in 2023.
- From 2023 to 2033, worldwide demand for beta-damascenone is projected to increase at 4.3% CAGR.
- The market is anticipated to attain a revenue of US$ 83.38 billion by 2033.
- Growing popularity of aromatherapy, high demand for premium personal care products, increasing influence of K-Beauty trends, and expanding food processing sector are slated to be prime market drivers.
- High demand for alternative synthetic fragrances and limited availability of natural sources to extract beta-damascenone from are projected to be key constraints for the global market through 2033.
- The beta-damascenone market in South Korea is projected to expand at 5.1% CAGR over the next ten years.
- Beta-damascenone demand for personal care formulations is forecasted to be 4.5% CAGR from 2023 to 2033.
- Synthetic beta-damascenone sales are set to increase at 4% CAGR throughout the forecast period.
“Growing demand for premium personal care products with natural fragrance is expected to uplift the sales of natural beta-damascenone over the coming years,” says a Fact.MR analyst
Winning Strategy
Beta-damascenone manufacturers are focusing on mergers, acquisitions, and collaborations to expand their business potential and reign over the majority of the market share of the competitive landscape. Companies are predicted to invest in the development of new extraction and synthesis procedures for beta-damascenone to comply with changing sustainability standards around the world.
Is the United States a Lucrative Investment Hub for Beta-Damascenone Suppliers?
"Influx of Natural & Organic Beauty Trends Expanding Business Horizons"
The United States is witnessing a swift surge in demand for alluring natural fragrances and scents, primarily due to the widespread inclination towards organic personal care products among its consumers. This growing consumer preference is significantly shaped by various beauty movements advocating the adoption of clean-label and naturally derived ingredients.
In this landscape, the consumption of beta-damascenone within the United States is anticipated to soar, projected to attain a market valuation of US$ 32.68 million by the conclusion of 2033.
Competitive Landscape
Leading beta-damascenone manufacturers are anticipated to focus on mergers, acquisitions, and collaborations to expand their business potential and improve their stance in the global market landscape.
- In July 2023, DSM-Firmenich, a leading name in the fragrance industry space, announced that it had completed the acquisition of Adare Biome, a United States-based postbiotic ingredient developer at US$ 304.6 million. The acquisition enhanced Firmenich’s stance in several markets ranging from animal feed to medical nutrition.
- In April 2023, Givaudan, a renowned manufacturer of flavours and fragrances based in Switzerland, announced that it had completed the acquisition of a cosmetics ingredient line from Amyris Inc., a leading biotechnology firm. Givaudan reinforced its leadership in the biotech world through this acquisition.
Key Companies Profiled
- Organica Aromatics
- Firmenich SA
- International Flavors & Fragrances Inc.
- Axxence Aromatic GmbH
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Key Segments of Beta-Damascenone Industry Research
- By Source:
- Natural
- Synthetic
- By Function:
- Flavoring Agents
- Perfuming Agents
- By Application:
- Food Processing
- Personal Care Formulations
- Perfumes
- Shampoos
- Shower Gels
- Soaps
- Detergents
- Others
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global beta-damascenone market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).
The study divulges essential insights on the market based on type (natural, synthetic), function (flavoring agents, perfuming agents), and application (food processing, personal care formulations), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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