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Isophytol Market by Fragrance Type and Application : Global Opportunity Analysis and Industry Forecast, 2021–2028

Isophytol Market by Fragrance Type and Application : Global Opportunity Analysis and Industry Forecast, 2021–2028

  • July 2021
  • 230 pages
  • ID: 6126717
  • Format: PDF
  • Allied Market Research

Summary

Table of Contents

Isophytol Market by Fragrance Type (Floral, Herbal, and Others) and Application (Supplements, Cosmetics, and Industrial): Global Opportunity Analysis and Industry Forecast, 2021–2028

The global isophytol market was valued at $470.4 million in 2020, and is projected to reach $629.5 million by 2028, growing at a CAGR of 3.8% from 2021 to 2028.

Isophytol is a specialty chemical primarily used for the synthesis of tocopherol acetate, and as an aroma ingredient in cosmetic and personal care products. It is a fragrance ingredient used in many fragrant compounds. Typical applications include decorative cosmetics, fine fragrances, shampoos, toilet soaps, as well as household cleaners and detergents. It is a poorly water-soluble organic compound, a clear oily liquid at room temperature. It is a terpenoid alcohol that is biosynthesized by some plants, or via chemical synthesis. It is used in the synthesis of vitamins E and K1, fragrance and cosmetics ingredient and also as a flavor compound.
The use of Isophytol as a fragrance agent, flavoring agent, and as an intermediate in the production of vitamin supplements are the three major drivers currently driving the Isophytol market demand. Isophytol is incorporated into fragrances to produce perfumes, creams, lotions, and shampoos. Use of fragrance in personal care products is a never-ending trend and continue to maintain the demand for Isophytol. Vitamin E is made from Isophytol and has various end uses such as functional food, dietary supplements, animal feed, and cosmetics. The number of skin care products incorporating vitamin E has increased in recent years, due to its ability for cell repair and anti-oxidation properties on human skin. However, new regulations in the fragrance industry will hamper the growth of the global Isophytol market during the forecast period. The International Fragrance Association (IFRA) is the global representative body of the fragrance industry and has included Isophytol in its transparency list.
In May 2020, it issued restrictions and specifications on some fragrance ingredients. Such restrictions if applied to Isophytol will tend to reduce its demand in its end-use applications, thus hampering the Isophytol market growth. Demand for aroma ingredients such as Isophytol, is expected to increase during the forecast period, due to growing use in emerging economies. The market is still evolving and will offer fresh opportunities for market players to capture regional market share. In addition, the demand for vitamin E-rich products in the food & beverage and feed manufacturers will benefit in the uptake of Isophytol.
The global Isophytol market is segmented into fragrance type and application. On the basis of fragrance type, the global Isophytol market is segmented into floral, herbal, and others. The applications of Isophytol include supplements, cosmetics, and industrial. On the basis of region, the global Isophytol market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, Asia-Pacific accounts for the largest share of the market, followed by LAMEA and Europe.

Major players operating in the global isophytol market include Antylia Scientific, Augustus Oils Ltd., BASF SE, Biosynth Carbosynth, Haihang Industry, Hefei TNJ Chemical Industry Co. Ltd., Merck KGaA, Molekula Group, Santa Cruz Biotechnology, Inc., Tokyo Chemical Industry, Thermo Fisher Scientific, and Vigon International, Inc.

KEY BENEFITS FOR STAKEHOLDERS
? The report provides in-depth analysis of the global isophytol market along with the current trends and future estimations.
? This report highlights the key drivers, opportunities, and restraints of the market along with the impact analysis during the forecast period.
? Porter’s five forces analysis helps to analyze the potential of the buyers & suppliers and the competitive scenario of the global isophytol industry for strategy building.
? A comprehensive market analysis covers factors that drive and restrain the global isophytol market growth.
? The qualitative data about market dynamics, trends, and developments is provided in the report.
IMPACT OF COVID-19 ON THE GLOBAL ISOPHYTOL MARKET
• COVID-19 has spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11th, 2020.
• Some of the major economies suffering from the COVID-19 crises include Germany, France, Italy, Spain, the UK, and Norway.
• Isophytol are primarily used in supplements, cosmetics, industrial, and personal care slight decline in the growth rate.
• In many countries, the economy has dropped due to the halt of several industries, especially transport and supply chain. Demand for the product has been hindered as there is no development due to the lockdown.
• The demand–supply gap, disruptions in raw material procurement, and price volatility are expected to hamper the growth of the chemical industry during the COVID-19 pandemic.
• Due to a scarcity of resources in various parts of the world, the COVID-19 epidemic has impacted negatively on the manufacturing and industrial industries. The industry’s top players are concerned about the market’s prospects and are rethinking their strategies to meet the challenge.
• The companies are incorporating various techniques to increase production volume and are attempting to develop innovative solutions at an affordable price that can meet customer requirements at a lower cost and support the overall breakthrough required for increased fragrance product penetration sustainability.
• The rise in public awareness about health issues is one of the factors propelling the Isophytol market throughout the forecast period. Increasing use of sterilizing solutions as a result of the coronavirus epidemic is also driving demand for the overall industry. Demand for Isophytol will be boosted by a positive perspective on bleaching products.

KEY MARKET SEGMENTS

By Fragrance Type
• Floral
• Herbal
• Others

By Application
• Supplements
• Cosmetics
• Industrial

By Region
o North America
U.S.
Canada
Mexico
o Europe
Germany
France
Spain
Italy
UK
Rest of Europe
o Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
o LAMEA
Brazil
South Africa
Saudi Arabia
Rest of LAMEA

KEY MARKET PLAYERS
• Antylia Scientific
• Augustus Oils Ltd.
• BASF SE
• Biosynth Carbosynth
• Haihang Industry
• Hefei TNJ Chemical Industry Co. Ltd.
• Merck KGaA
• Molekula Group
• Santa Cruz Biotechnology, Inc.
• Tokyo Chemical Industry
• Thermo Fisher Scientific
• Vigon International, In

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