Terpineol Market Share, Size, Price, Growth, Outlook, Forecast 2023-2028
The ‘Global Terpineol Market Size, Share, Price, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global terpineol market, assessing the market on the basis of its segments like applications, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 5.5%
Terpineol is suited for aromatherapy formulas owing to its pleasant and blossoming odour. It is extensively applied in the manufacturing of perfumes which is driving the market growth. Hence, the increasing demand for long-lasting and aromatic flavoured perfumes is further bolstering the demand for terpineol.
Meanwhile, α-terpineol is gaining traction in the pharmaceutical industry owing to its heightening application across the biomedical compounds such as anti-cancers, anticonvulsants, and anti-ulcers, among others. Over the forecast period, the anticipated increase in chronic diseases and infections is likely to lead to an escalated demand for α-terpineol in the pharmaceutical industry, leading to the bolstered growth of terpineol market.
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The thriving cosmetics industry is leading to a heightened application of terpineol in various cosmetics and beauty products. The increasing hygienic awareness and rising disposable income are likely to bolster the supply-demand chain of terpineol in the forecast period.
Furthermore, due to the lilac scent of terpineol, the product is recommended for flavouring agents to boost the flavour dominance in variety of foods. In addition, terpineol is also utilised in e-liquids which are gaining popularity amongst millennials. Moreover, the thriving food and beverage industry, fuelled by rising population across the emerging economies is likely to aid the global terpineol market in the forecast period.
Terpineol Industry Definition and Major Segments
Terpineol is defined as a chemical compound which is viscous and sticky in nature. It naturally occurs in plant oils such as lavender, pine, and orange leaf, among others. Terpineol is transparent with a density of 0.93 g/cm3. It is majorly applied in the manufacturing of fragrances and cosmetic products.
Based on application, the market can be segmented into:
- Flavouring Agent
On the basis of region, the market can be categorised into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Terpineol Market Trends
The key trends in the global terpineol market include the steady expansion of the e-commerce industry which is propelling the sales of downstream products of terpineol. These downstream products include personal care and cosmetics, and premium packaged edibles. The growing research and development activities across industries such as pharmaceutical and perfume, aimed towards producing superior quality products in order to meet the demand of end users are likely to be the crucial trends in the market.
The increasing application of terpineol to produce high-quality disinfectants and household cleaners due to the rising sanitation preferences among the residents is another key trend bolstering the terpineol market. Rising investments towards the examination and analysis of α-terpineol as a chicken meat preservative is stimulating the scope of expansion of the product. According to researchers, α-terpineol successfully increases the shelf-life of chicken and meat products during refrigeration.
Over the forecast period, the market is anticipated to be navigated by the increasing awareness about beauty and cosmetic products, growing young population, and changing lifestyles of active adults.
Regionally, the Asia Pacific holds a substantial share in the terpineol market owing to the flourishing end use industries and large population base. The increasing applications of terpineol in the pharmaceutical industry owing to the growing geriatric population and chronic diseases associated with it is further expanding the growth opportunities for the market.
Key Market Players
The major players in the terpineol market report are Foreverest Resources Ltd., EcoGreen International Group Limited, Socer Brasil Indústria e Comércio Ltda., and Workwell, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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