Portland, OR, Jan. 19, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global synthetic musk market was estimated 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. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
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Report Coverage & Details:
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $134.9 million |
| Market Size in 2031 | $187.4 million |
| CAGR | 3.4% |
| No. of Pages in Report | 400 |
| Segments Covered | Type, End Use Industry, and Region. |
| Drivers | Robust demand for synthetic musk from home care industry |
| Increase in the use of synthetic musk in the cosmetics industry | |
| Restraints | Side effect associated with synthetic musk |
| Environmental effect of synthetic musk | |
| Opportunities | High prices associate with natural musk |
Covid-19 Scenario-
- 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-based products.
- However, 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 global synthetic musk market is analyzed across type, end use industry, and region. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.
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By type, the polycyclic musk segment held the largest share in 2021, garnering more than 47.37% of the global synthetic musk market revenue, and is projected to maintain its dominance by 2031. The nitro musk segment, on the other hand, would showcase the fastest CAGR of 3.2% during the forecast period.
By end use industry, the cosmetics and personal care segment contributed to nearly fifth-seventh of the global synthetic musk market share in 2021, and is projected to rule the roost by 2031. The homecare segment, on the other hand, would display the fastest CAGR of 2.9% throughout the forecast period. The other segments assessed through the report take in food and beverages, and other segments.
By region, Asia-Pacific held the major share in 2021, garnering more than two-fifth of the global synthetic musk market revenue. The same region would also showcase the fastest CAGR of 4.2% from 2022 to 2031. The other provinces assessed through the report include North America, Europe, and LAMEA.
The key market players analyzed in the global synthetic musk market 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. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance and developments by the top players.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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