Market Research Report
Isophytol Market by Fragrance Type (Floral, Herbal, and Others) and Application (Supplements, Cosmetics, and Industrial): Global Opportunity Analysis and Industry Forecast, 2021-2028
|Isophytol Market by Fragrance Type (Floral, Herbal, and Others) and Application (Supplements, Cosmetics, and Industrial): Global Opportunity Analysis and Industry Forecast, 2021-2028|
Published: July 1, 2021
Allied Market Research
Content info: 230 Pages
Delivery time: 2-3 business days
The global isophytol market was valued at $470.4 million in 2020, and is projected to reach $629.5 million by 2028, growing at a CAGR of 3.8% from 2021 to 2028.
Isophytol is a specialty chemical primarily used for the synthesis of tocopherol acetate, and as an aroma ingredient in cosmetic and personal care products. It is a fragrance ingredient used in many fragrant compounds. Typical applications include decorative cosmetics, fine fragrances, shampoos, toilet soaps, as well as household cleaners and detergents. It is a poorly water-soluble organic compound, a clear oily liquid at room temperature. It is a terpenoid alcohol that is biosynthesized by some plants, or via chemical synthesis. It is used in the synthesis of vitamins E and K1, fragrance and cosmetics ingredient and also as a flavor compound.
The use of Isophytol as a fragrance agent, flavoring agent, and as an intermediate in the production of vitamin supplements are the three major drivers currently driving the Isophytol market demand. Isophytol is incorporated into fragrances to produce perfumes, creams, lotions, and shampoos. Use of fragrance in personal care products is a never-ending trend and continue to maintain the demand for Isophytol. Vitamin E is made from Isophytol and has various end uses such as functional food, dietary supplements, animal feed, and cosmetics. The number of skin care products incorporating vitamin E has increased in recent years, due to its ability for cell repair and anti-oxidation properties on human skin. However, new regulations in the fragrance industry will hamper the growth of the global Isophytol market during the forecast period. The International Fragrance Association (IFRA) is the global representative body of the fragrance industry and has included Isophytol in its transparency list.
In May 2020, it issued restrictions and specifications on some fragrance ingredients. Such restrictions if applied to Isophytol will tend to reduce its demand in its end-use applications, thus hampering the Isophytol market growth. Demand for aroma ingredients such as Isophytol, is expected to increase during the forecast period, due to growing use in emerging economies. The market is still evolving and will offer fresh opportunities for market players to capture regional market share. In addition, the demand for vitamin E-rich products in the food & beverage and feed manufacturers will benefit in the uptake of Isophytol.
The global Isophytol market is segmented into fragrance type and application. On the basis of fragrance type, the global Isophytol market is segmented into floral, herbal, and others. The applications of Isophytol include supplements, cosmetics, and industrial. On the basis of region, the global Isophytol market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, Asia-Pacific accounts for the largest share of the market, followed by LAMEA and Europe.
Major players operating in the global isophytol market include Antylia Scientific, Augustus Oils Ltd., BASF SE, Biosynth Carbosynth, Haihang Industry, Hefei TNJ Chemical Industry Co. Ltd., Merck KGaA, Molekula Group, Santa Cruz Biotechnology, Inc., Tokyo Chemical Industry, Thermo Fisher Scientific, and Vigon International, Inc.
By Fragrance Type