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2022

Synthetic Musk Market

Synthetic Musk Market Size, Share, Competitive Landscape and Trend Analysis Report, by Type, By End Use Industry : Global Opportunity Analysis and Industry Forecast, 2021-2031

MC : Renewable, Speciality and fine chemicals

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Author's: Akshata Dhange| Nikhil Mittal | Eswara Prasad
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Synthetic Musk Market Research, 2031

The global synthetic musk market was valued at $134.9 million in 2021, and is projected to reach $187.4 million by 2031, growing at a CAGR of 3.4% from 2022 to 2031.

Report Key Highlighters:

  • The report provides complete analysis on the market status across key regions and more than 15 countries across the globe in terms of value ($ Million) and volume (Tons).
  • The synthetic musk market is consolidated in nature with few players such as BARUTI PERFUMES, BMV Fragrances Pvt. Ltd, Firmenich SA., S.C. Johnson and Son Inc., The Good Scents Company, NOMAD NOE, Zanos Limited, The Brooklyn Perfume Company, Dllberg Konzentra GmbH and Co. KG, A M Aromatic and Essential Oils.
  • Top winning strategies are analyzed by performing a thorough study of the leading players in the synthetic musk market. Comprehensive analysis of recent developments and growth curves of various companies helps us to understand the growth strategies adopted by them and their potential effect on the market.
  • The report provides competitive dynamics by evaluating business segments, product portfolios, target market revenue, geographical presence, and key strategic developments by prominent manufacturers.

Synthetic Musk Market

Synthetic musks are a class of synthetic aroma compounds used primarily in different consumer products, scents, and in perfumes to replicate the smell of deer musk and other animals such as castoreum, louisianan musk rat and civet cat.  In addition, it imparts attractive fragrance and odor due to which it is used as favoring and fixative agent in the formulation of various products such as consumer products, deodorants, perfumes, and many others. It has a wide range of applications in various end use industries such as cosmetics, toiletries, soaps & detergent, and many others.

Stringent government norms and regulation on synthetic musk is expected to hamper the market.  For instance, according to an article published by the Campaign for Safe Cosmetics, due to the environmental concerns Japan has banned musk xylene and other nitro-musks. In addition, the European Commission banned musk xylene, while musk ketone and tonalide restricted long-lasting exposure of synthetic musk owing to its adverse health effects on humans. These factors together are expected to hamper the growth of synthetic musk in the market.

Increase in the penetration of synthetic musk in various detergents, soaps, perfumes, and others are projected to boost the market. In addition, fast moving consumer goods is one of the booming sectors across the globe and with household, personal care sector accounting for 50% of FMCG sales in India, the industry is an important contributor to India’s GDP where synthetic musk is widely used for the formulation of various detergent, soaps, shampoos, and other personal care products. This factor is likely to create new opportunities for the synthetic musk market.  

Furthermore, imposition of stringent norms on import and export of natural animal musk is the major factor driving the synthetic musk market.  In addition, BMV Fragrances Pvt. Ltd, offering Nitrolide that has been developed to offer perfumers a safe ingredient with the qualities of the Nitro Musk.  These factors are increasing the potential sales of synthetic musk; thus, offering most lucrative opportunities for the market.

The global synthetic musk market analysis is done on the basis of type, end use industry, and region. Depending upon type, it is divided into nitro musk, polycyclic musk, macrocyclic musk, alicyclic musk, and others. On the basis of end use industry, it is classified into cosmetics and personal care, homecare, food and beverages, and others.  Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The major companies profiled in this report include, A M Aromatic & Essential Oils, BARUTI PERFUMES, BMV Fragrances Pvt. Ltd., Düllberg Konzentra GmbH & Co. KG, Firmenich SA., NOMAD NOÉ, S.C. Johnson & Son Inc, The Brooklyn Perfume Company, The Good Scents Company, and Zanos Limited.

Synthetic Musk Market by Region

Asia-Pacific market size is projected to grow at the highest CAGR during the forecast period, and accounted for a major synthetic musk market share in 2021, with 41% of the total share and growing at CAGR of 4.2%. Synthetic musks are mainly used in large scale as a flavoring agent in dairy, convenience goods, confectionery, drinks & beverages, and other products for providing exotic and niche flavors to the products. In addition, the well-established cosmetics and personal care industry, food and beverages sector, home care sectors, and among others have increase the potential sales of synthetic musk.

Synthetic musks such as nitro-musk, polycyclic musk, and alicyclic musk are widely used for the formulation of various skin care and fast-moving consumer products. Furthermore, diacetyl, ketones, phthalate, benzaldehyde, limonene, ester, methyl anthranilate, and among other synthetic musks are widely used in food & beverage industry as a flavoring agent and does not disturb the authentic flavor of  food due to which the demand for synthetic musk is increasing in the Asia-Pacific region. These factors are expected to increase the demand for synthetic musk during the forecast period.

Synthetic Musk Market by Type

In 2021, the polycyclic musk segment was the largest revenue generator, and is anticipated to grow at a CAGR of 3.7% during the forecast period. This is attributed to the fact that, the FMCG companies are coming out with a variety of personal care and skin care products in different price ranges, and consumption patterns of cosmetics among teenagers went up substantially between 2005 and 2015 because of increasing awareness and desire to look good.

According to an article published by India Brand Equity Foundation in December 2017, beauty and cosmetics are the grooming market in India and are expected to reach US$ 20 billion by 2025 from US$ 6.5 billion in 2017. The polycyclic musk-based synthetic musks are extensively used in the personal care and beauty care sector in the form of lotions, ointments, creams, foundations, perfumes, scent, and among others. This is anticipated to increase the demand for synthetic based synthetic musk during the forecast period.

Synthetic Musk Market by End Use Industry

By end use industry, the cosmetic and personal care segment dominated the global market in 2021, and is anticipated to grow at a CAGR of 3.5% during forecast period. The growing population coupled with improvements in the standard of living, changing lifestyles, and increased focus in the personal care & beauty care industry have surged the demand for synthetic musk where it is used as a fragrance ingredient in the formulation of various skin care products such as body soaps, lotions, face creams, perfumes, and many others. This is expected  to increase the demand for synthetic musk in the cosmetics industry. Cosmetics products include lotion, creams, foundation, and many others where synthetic musk-containing cosmetic products are preferred due to which the market for synthetic musk is expected to increase in the future.

COVID-19 Impact Analysis:

The synthetic musk market had a negative impact due to the wake of the COVID-19 pandemic, owing to the disruptions in the supply chain of various synthetic musk products. The supply of synthetic musk containing cosmetics and consumer products is held within and across the border during the first quarter of 2020. In addition, there are several cosmetics companies that have faced declining sales amid pandemic. For instance, according to an article published by The Economic Times in June 2021, Lakme Lever sales declined by 19% and slipped into losses during FY2020-2021.

Furthermore, several personal care and beauty care products including fragrances, colon cosmetics, skincare, haircare products, and others has been affected owing to strict government norms and regulation in 2020. In response to this, complete imposition of lockdown in food and beverages, fragrance, consumer products, and other end use sector are being lifted in the year 2021 and growth of synthetic musk market will come to its original pattern, and it is expected to recover soon owing to the rise in the production unit of both developed and developing economies.

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the synthetic musk market analysis from 2021 to 2031 to identify the prevailing synthetic musk market opportunities.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the synthetic musk market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global synthetic musk market trends, key players, market segments, application areas, and market growth strategies.

Synthetic Musk Market Report Highlights

Aspects Details
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Market Size By 2031

USD 187.4 million

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Growth Rate

CAGR of 3.4%

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Forecast period

2021 - 2031

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Report Pages

400

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By Type
  • Nitro-Musk
  • Polycyclic Musk
  • Macro-Cylic Musk
  • Aclicylic Musk
  • Others
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By End Use Industry
  • Cosmetics and Personal Care
  • Homecare
  • Food and Beverages
  • Others
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By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, UK, France, Spain, Italy, Rest of Europe)
  • Asia-Pacific  (China, India, Japan, South Korea, Australia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
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Key Market Players

The Good Scents Company, S.C. Johnson and Son Inc., A M Aromatic and Essential Oils, Zanos Limited, BMV Fragrances Pvt. Ltd, NOMAD NOE, BARUTI PERFUMES, The Brooklyn Perfume Company, Firmenich SA., Dllberg Konzentra GmbH and Co. KG

Key Market Players
Other Key Market Players

S. C. Johnson & Son, Inc., Düllberg Konzentra 3European Flavours & Fragrances PLC, The Brooklyn Perfume Company

Analyst Review

According to CXOs of leading companies, the global synthetic musk market is expected to exhibit high growth potential. Synthetic musk is a man-made chemical synthesized in laboratories and used primarily in different consumer products, scents, and perfumes to replicate the smell of deer musk. Moreover, the rising cost of natural musk and the ban on hunting deer musk is projected to foster the market during the forecast period. 

In addition, the increase in the demand from the cosmetics and beauty care industry for various skincare and personal care products is expected to surge the demand for synthetic musk in the upcoming years. Furthermore, the non-toxic property of synthetic musk enables consumers to use them in the fabric care industry for improving their aesthetic value of fabrics.

The CXOs further added that sustained economic growth and the development of cosmetics and consumer products have surged the popularity of synthetic musk.

 

Author Name(s) : Akshata Dhange| Nikhil Mittal | Eswara Prasad
Frequently Asked Questions?

Since the deer musk is forbidden to obtain and kill owing to which several leading key players have increased their production capacities for synthetic musk. In addition, the Indian government has set up an act and regulation in 1972 under the federal Wildlife (Protection) Act which states that hunting deer for natural musk is illegal. Furthermore, high prices associated with the extraction process of natural musk from animals are expected to create new opportunities for synthetic musk markets.

Extraction of natural musk is very tedious task and there has been ban on hunting animal. For instance, to get 1kgs of natural musk, almost 30 to 40 animals had to sacrifice their life due to which several leading key manufacturers are switching their production capacities from natural musk to synthetic musks. This factor is projected to drive the market growth during the forecast period.

Cosmetics and personal care application segment is the leading.

Asia-Pacific region is the largest market share in the synthetic musk market.

A M Aromatic & Essential Oils, BARUTI PERFUMES, BMV Fragrances Pvt. Ltd., Düllberg Konzentra GmbH & Co. KG, Firmenich SA., NOMAD NOÉ, S.C. Johnson & Son Inc, The Brooklyn Perfume Company, The Good Scents Company, and Zanos Limited.

Synthetic musks are a class of synthetic aroma compounds used primarily in different consumer products, scents, and in perfumes to replicate the smell of deer musk and other animals such as castoreum, louisianan musk rat and civet cat. In addition, it imparts attractive fragrance and odor due to which it is used as favoring and fixative agent in the formulation of various products such as consumer products, deodorants, perfumes, and many others. It has a wide range of applications in various end use industries such as cosmetics, toiletries, soaps & detergent, and many others.

The synthetic musk market was valued for $134.9 million in 2021 and is estimated to surpass $187.4 million by 2031, exhibiting a CAGR of 3.4% from 2022 to 2031.

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Synthetic Musk Market

Global Opportunity Analysis and Industry Forecast, 2021-2031