Dihydromyrcenol Market Analysis
Dihydromyrcenol belongs to the family of acyclic terpenicalcohols Dihydromyrcenol has wide variety of applications in the cosmetic industry due to its unique properties, such as soluble in alcohol and paraffin oil and insoluble in water. It is a pale yellow colored liquid which has a strong smell similar to fresh lime and sweet citrus & floral aroma. Furthermore, dihydromyrcenol is made out of dihydromyrcenyl chloride by hydrolysis of dihydromyrcenyl chloride in an aqueous medium which contains a base and a phase transfer catalyst in an amount of 0.001-10 mole %, based on the amount of dihydromyrcenyl chloride.
The market for dihydromyrcenol is largely influenced by advanced consumer products, in products such as skin and hair care products in particular. The product is also used in the manufacture of derivatives such as tetrahydromyrcenol, myrcetol and compounding fragrances as intermediates.
- The global market for Dihydromyrcenols is severely impacted by the outbreak of the COVID-19 pandemic.
- The COVID-19 pandemic saw a decline in the economic growth in almost all the major countries, thus affecting consumer spending patterns.
- Owing to the lockdown implemented across various countries, national and international transport have been hampered, which has significantly impacted the supply chain of numerous industries across the globe, thereby increasing the supply–demand gap.
- Thus, insufficiency in raw material supply is expected to hamper the production rate of Dihydromyrcenols, which negatively impact the market growth.
Top impacting factors: Market Scenario Analysis, Trends and Drivers
In the cosmetics and personal care products industry, dihydromyrcenol is a major element of fragrance chemicals used. Further, the key factor boosts the worldwide fragrance chemical industry is rise in expenditure on personal care products across the globe, which is further due to increase in disposable income of consumers. Moreover, continuous research and development in this field along with launch by top market players of fragrance chemical industry, is further anticipated to bolster the market in the forecasted period. This firm growth in fragrance chemicals industry will ultimately drive the dihydromyrcenol market size during the forecast period.
Asia-Pacific is anticipated to lead global dihydromyrcenol market in terms of demand and production during the forecast period. Due to growing consumerism and increased awareness about personal health and hygiene, especially in the cosmetics and related products segment. Explicitly, in countries such as China India, Brazil, and South Korea, the rise in per capita income has allowed consumers’ purchasing power tremendously. But Europe and North America are predicted to display decline in demand for synthetic perfumes in the coming years, due to rising organic fragrances demand.
Increase in number of online portals handling sales of cosmetics and exclusive personal care products have efficiently driven the fragrance chemical industry, which leads to boost in the dihydromyrcenol market size. Moreover, innovation and advancement in natural and organic fragrances is also predicted to create significant growth opportunities in the forecasted period for the dihydromyrcenol market.
Moreover, online shops have considerably stimulated the fragrance chemicals industry. This, in turn, is estimated to drive the dihydromyrcenol market in the next few years.
However, a major challenge for the dihydromyrcenol market is the continuous need to upgrade & advance in the fragrance chemical industry, and to produce new fragrances that attract consumer attention worldwide. In addition, the challenge of alternatives such as organic fragrances can also hamper the growth of the industry, as more and more customers are opting for it.
Key benefits of the report:
- This study presents the analytical depiction of the global dihydromyrcenol market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global dihydromyrcenol market share.
- The current market is quantitatively analyzed to highlight the global dihydromyrcenol market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global dihydromyrcenol market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the Dihydromyrcenol Marketresearch report:
- Who are the leading market players active in the dihydromyrcenol market?
- What would be the detailed impact of COVID-19 on the market?
- What current trends would influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the dihydromyrcenol market?
- What are the projections for the future that would help in taking further strategic steps?
Dihydromyrcenol Market Report Highlights
Key Market Players
Suru Chemicals, Premier Chem Corporation, Santa Cruz Biotechnology, Global Enterprises, Himalaya Terpenes Limited, The Good Scents Company, Phoenix Aromas & Essential Oils, Privi Organics Limited, Manish Minerals & Chemicals, Anthea Aromatics.