New York, Aug. 23, 2023 (GLOBE NEWSWIRE) -- The global Fenchol Market size is projected to expand at ~ 5% CAGR between 2023 and 2035. The Fenchol market is expected to garner a revenue of USD 4 billion by the end of 2035, up from a revenue of ~USD 2 billion in the year 2022. The market growth is mainly owed to the increasing use of fenchol in the production of perfumes, candles, and soaps and the rapid increase in sales of these products. For instance, revenue for the deodorant segment in 2022 was estimated at about USD 410 million, while its per capita revenue relative to the total population was estimated at about USD 0.30 for the same year.
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Fenchol or 1, 3, 3-trimethyl-2-norbornanol is a monoterpenoid and an isomer of borneol. It is a colorless or white solid that is widely distributed in nature. Endophenchol, a naturally occurring enantiomer, is widely used in perfumery. Fenchol is a monoterpene and isomer of the terpene borneol. It is also known as fenchyl alcohol or 2-fenkanol. Known for its herbal scent, it is often used in candles, shampoos, perfumes, detergents, and food additives. It is a pine-, lemon-, and camphor-scented terpene commonly found in basil and aster flowers, as well as some cannabis strains. Fenchol has many well-known medicinal properties, especially antibacterial, antimicrobial, and antioxidant properties.
Global Fenchol Market: Key Takeaways
- Market in Asia Pacific to propel highest growth
- The fragrances segment to garner the highest growth
- Fenchol Market in North America to grow at a highest rate
Rising Consumer Demand for Perfumes across the Globe to Hike the Market Growth
Fenchol, or 1,3,3-trimethyl-2-norbornanol, is a monoterpenoid and an isomer of borneol. It is a colorless or white solid. widely distributed in nature. Endophenchol, a naturally occurring enantiomer, is widely used in perfumery. Fenchol is a monoterpene and an isomer of the terpene borneol. It is also known as fenchyl alcohol or 2-fenkanol. Known for its herbal scent, it is often used in candles, shampoos, perfumes, detergents, and food additives. It is a pine-, lemon-, and camphor-scented terpene commonly found in basil and aster flowers and in some cannabis strains. Fenchol has many well-known medicinal properties, especially antibacterial, antimicrobial, and antioxidant properties. The demand for perfumes is increasing notably and is expected to increase more over the forecast period. For instance, global perfume sales increased by 6.2% in 2021, while US prestige perfume sales increased by 48% in 2019 compared to 2018. Increased consumer demand for lighter scented products is expected to drive fenchol sales during the boost forecast period. In addition, increased sales of various fragranced body sprays, mists, and spritz are expected to drive the growth of the global during the forecast period.
Global Fenchol Market: Regional Overview
The global fenchol market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Numerous Fragrance Manufacturers in the Asia Pacific Region to Drive Market Growth
The Fenchol market in the Asia Pacific region is estimated to garner the largest revenue by the end of 2035. The regional growth can majorly be attributed to the fact that there are numerous fragrance manufacturers in the region, including China, Singapore, Japan, and other countries. In addition, the rising popularity of pocket perfume among individuals is expected to boost market growth in the region owing to its practicality and portability. Moreover, increasing sales of perfumes and fragrances in the region are expected to further boost the demand for fenchol during the forecast period. The Asia Pacific region accounts for approximately 40% of global fragrance sales, with China accounting for the world's largest contributor with USD 1.5 billion. Fenchol is a monoterpenoid and isomer of the terpene borneol. It is also known as fenchyl alcohol or 2-fenkanol. Known for its herbal scent, it is often used in candles, shampoos, perfumes, detergents, and food additives. Fenchol is found in basil, aster flowers, eucalyptus leaves, wild celery, nutmeg, and certain cannabis strains. Cannabis strains with high levels of fenchol include OG Kush and Banana Kush. Fenchol is a sweet and bitter borneol-tasting compound found in many foods such as wild celery, sweet basil, limes, and fennel, thus making fenchol a potential biotech for consuming these foods. It is commonly found in basil.
Rising Geriatric Population to Drive Growth in North America
The fenchol market in the North American region is estimated to garner the highest CAGR by the end of 2035. The growth of the market in this region can primarily be attributed to the huge growth of the textile industry in North America. Fenchol is widely used in the industry as a textile softener. Hence, the expansion and growing revenue of the textile industry are also anticipated to contribute to the growth of the Fenchol market in the region. The United States is an important market for the North American textile industry. In the year 2018, North America as a whole accounted for more than 41% of the world's textile industry exports. The region’s technical textile industry in North America is one of the world's largest. Trade agreements, especially NAFTA and CBI agreements, have led to a reassessment of business strategy. NAFTA (the North American Free Trade Agreement) is the best known and primarily affects Mexico, Canada, and the United States. The Caribbean Basin Initiative (CBI) includes more than 10 neighboring countries and permits the shipment and return of US textiles, sewing, and manufacturing parts with tariffs on value added.
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The study further incorporates Y-O-Y growth, demand & supply and forecast future opportunity in:
- North America (U.S., Canada)
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe)
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America)
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific)
- Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
Global Fenchol, Segmentation by Application
- Food Additives
- Fragrances
The fragrances segment is expected to have the largest market share during the forecast period. The growth of the segment can be attributed to the extensive use of fenchol in the manufacture of perfumes such as air fresheners, soaps, candles, cleaning products, and household care products. It is expected to drive the growth of the segment over the forecast period. Commercial sales of candle products in the United States are estimated at approximately USD 3 billion annually. Fragrances are odors, usually pleasant or sweet. Perfumes are often called fragrances. Fragrances usually smell good, unlike the word "smell," which usually means a bad smell. People love the scent of flowers and delicious food. A fragrance is defined as a combination of organic compounds that produce a particular odor. Perfume is a liquid mixture used to give off a pleasant scent. formed from fragrant essential oils extracted from plants and spices or synthetic aromatic compounds.
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Global Fenchol, Segmentation by Purity
- 95%
- 96%
- 97%
- 98%
- Others
Amongst these five segments, the "98%" segment is anticipated to hold a significant share over the forecast period. The purity of organic chemicals is tested using a variety of methods on inorganic substances. For instance, ICP-MS can be used to test hafnia, and HPLC (High Performance Liquid Chromatography) can be used to test dihydromyricetin. In the organic sector, 98% means an almost pure product. The other two are minor impurities or perfectly acceptable detection errors. For extreme rigor, 99% HPLC purity can be sought. However, most of the time, it doesn't make sense. Companies cannot provide 100% of HPLC products. Even if the purity of the HPLC spectrum is 100% with a single peak, it may still be 98% with conventional testing methods. This is caused by impurities in the test solvent or different machines.
Few of the well-known market leaders in the global fenchol market that are profiled by Research Nester are Foreverest Resources Ltd., Jiangxi Global Natural Spice Co., Ltd., Penta International Corporation, Pfaltz and Bauer Inc, Formosa Plastics, Augustus Oils Ltd., Bedoukian Research Inc., Takasago International Corporation, and other key market players.
Recent Development in the Global Fenchol Market
- Merck KGaA, a technology and science company, has announced a collaboration with Agilent Technologies to advance process analytical technology (PAT).
- Jiangxi Global Natural Spices Co., Ltd.-Jishui County, Jiangxi Province, was launched as the base of the forest chemical and fragrance industry at the National Forest Chemical and Fragrance Enterprise Conference and Annual Meeting.
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