Anisole Market is segmented by Grade (Up To 99.5%, Above 99.5%); by Application (Perfumes, Pharmaceutical, Insect Pheromones, Others); by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Market Analysis, Trends, Opportunity and Forecast, 2023-2032
Anisole Market Overview
Anisole is an organic compound that has the formula CH2OC6H5. Also known as methoxybenzene, anisole is a colorless liquid that mimics the smell of anise seed. Hence, the chemical is widely used as an artificial fragrance. As per our research analysts, one of the major factors expected to boost the growth of the market is the rising demand for different types of fragrances in the cosmetics, pharmaceuticals, and food & beverages industry. Evonik Industries AG, Atul Ltd, and Solvay are some of the significant parties in the market for anisole.
The global anisole market was valued at USD 90.2 million in 2023. The market is expected to expand at a CAGR of 5.8% from 2023-2032, and is expected to cross value of USD 181.4 million by the end of 2032.
Anisole Market Drivers
Some key drivers for the anisole market are:
- Growing Demand for Fragrance in the Cosmetics Industry: With the availability of a wide variety of cosmetic products globally, especially body deodorants, creams, perfumes, etc., the demand for raw materials that can be used as a fragrance is increasing, which in turn, is projected to drive the market growth in the coming years.
- Rising Opportunities in the Food & Beverages Industry: The food and beverage industry has been witnessing steep demand for food products that looks good, tastes fantastic, and smells wonderful. As a result, the demand for fragrances, such as anisole, in the food and beverages industry is expected to increase.
- Expanding Pharmaceutical Industry: The growing pharmaceutical industry worldwide and the expanding research and development in this sector is poised to generate numerous opportunities for the market growth of anisole.
- Growing Trade of Anisole: The rising imports and exports of anisole worldwide, backed by the supporting chemical industry, is also expected to push the market growth forward.
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Anisole Market Challenges
Some challenges facing the anisole market are:
- Stringent Regulations for Manufacturing Anisole: One of the major challenges that lies amongst the manufacturers of anisole is the stringent regulations associated with its production.
- Health Hazards Associated with Anisole: Anisole is known to cause breathing related issues and the chemical may also be observed through the skin. Owing to such health hazards, the demand for anisole is severely affected.
- Fluctuating Price of Raw Materials: The fluctuating price of the raw materials associated with anisole is also expected to hinder the market growth in the coming years.
Anisole Market Segmentation
Segmentation of anisole market are:
- By Grade
- Up To 99.5%
- Above 99.5%
- By Application
- Perfumes
- Pharmaceutical
- Insect Pheromones
- Others
- By Region
- North America (U.S., and Canada)
- Europe (U.K., Germany, France, Italy, Spain, Russia, Rest of Europe)
- Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
- Latin America (Mexico, Argentina, Rest of Latin America)
- Middle East and Africa
Anisole Market: Report Scope |
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Base Year |
2023 |
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Base Year Market Size |
USD 90.2 Million |
|
Forecast Year |
2023-2032 |
|
Forecast Year Market Size |
USD 181.4 Million |
|
CAGR Value |
5.8% |
|
Segmentation |
|
|
Challenges |
|
|
Growth Drivers |
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Timeline considered for all these studies will be:
2023 – Base Year
2023 – Estimated Year
2023-2032 – Forecast Period
Anisole Market Regional Synopsis
The Europe anisole market is projected to dominate the market share during the forecast period, backed by the rise in demand for personal care products among the consumers in the region, followed by the rising awareness for grooming products and the expanding perfume industry. The region has also been witnessing an upsurge in the exports of perfumes, body deodorants, and other fragrances, which is also projected to push the market growth forward.
On the other hand, the Asia Pacific anisole market is expected to grow with the highest CAGR during the forecast period. The expanding pharmaceutical industry in the region, especially in countries such as China and India, followed by the increasing purchasing power of individuals for purchasing cosmetic products in the region are some of the major factors predicted to drive the market growth in the region.
Anisole Market Key Players
Some key players in the anisole market are:
- Evonik Industries AG
- Atul Ltd
- Solvay
- Tokyo Chemical Industry Co., Ltd.
- SURYA LIFE SCIENCES LTD.
- Thermo Fisher Scientific
- Westman Chemicals Pvt. Ltd.
- Emmennar Pharma Pvt. Ltd.
- Benzo Chem Industries Pvt. Ltd.
- Merck KGaA
- Camlin Fine Sciences Ltd.
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- Publication date: 20th February 2024
- Base year: 2022
- Forecast year: 2023-2033
- Format: PDF, PPT,Word,Excel
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