Global Farnesol Market: Overview
The global farnesol market is driven by its utilization in several end-use products, mostly skin care. Farnesol finds extensive use in cigarettes, deodorants, bactericides products, and skin care products. Such multiple uses across many industries is likely to spell growth for the global farnesol market during the period of assessment, from 2019 to 2027. Augmented use of farnesol as flavoring and fragrant agent is expected to bolter demand for farnesol in forthcoming years.
Application, nature, extraction method, form, and region are some of the parameter based on which the global farnesol market has been segmented for analysis. These parameters assist analysts in better presentation of the data gathered through extensive research methods.
Global Farnesol Market: Notable Developments
The following development reveals the changing dynamics of the global farnesol market:
- In November 2018, The Procter & Gamble Company successfully acquired the Consumer Health business of Darmstadt-based Merck KGaA. This strategic move by the global FMCG giant is to bring in technical expertise and robust healthcare supply and commercial capacities of the health business of Merck KGaA. With this acquisition, farnesol products of the Merck KGaA are likely to find larger scope for expansion and product portfolio development.
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Some of the leading market vendors of the global farnesol market are as mentioned below:
- Merck KGaA
- Vigon International, Inc.
- Symrise AG
- Synerzine Inc.
- Otto Chemie Pvt Ltd
Global Farnesol Market: Key Trends
The global farnesol market is likely to be influenced by the following drivers, restrains, opportunities during the assessment time.
Increased Interest in Personal Grooming to Bolster Demand for Farnesol in Times to Come
Increased interest toward personal grooming and care is bolstering the demand for colognes, deodorants, and perfumes are another growth factor for the market. Increasing demand os these products amongst women and the youth play the role of market stimulant, which bolsters demand of farnesol in the market. More awareness about health and hygiene products amongst the consumers is likely to add impetus to the global farnesol market during assessment period.
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The rapid expansion of the food and beverage industry necessitates the augmented use of fragrance and flavors agents. Farnesol serves as a key ingredient of adding flavor and fragrance to the food and beverage products.
The growth of the global farnesol market is substantially supported by the augmented use of the said product in pesticides. Growing popularity of programs related to pest control that are carried at residential and commercial premises supporting market growth as well worldwide.
On the flip side, Food and Drug Administration (FDA) has restrained the use of farnesol, which dampens the expansion of the global farnesol market. Reason for such restriction is that farnesol comes with allergenic characteristics. It is required that manufacturers making use of farnesol in its products must always mention about it to facilitate informed choice of customers. Such measures have led to manufacturers go for other alternatives, thereby restraining the growth of the global farnesol market.
Global Farnesol Market: Geographical Analysis
Latin America, Asia-Pacific, Middle East and Africa, Europe, and North America comprise the major regions of the global farnesol market.
It is in the regions of North America and Europe, the global farnesol market is likely to experience rapid expansion. Burgeoning demand for fragrances among the youth, women, and regular office goers is likely to spell growth for the market in the region.
Asia Pacific is also anticipated to offer considerable scope for growth the farnesol market in the region. Rising disposable income together with the presence of a large base of young, working population is likely to spur demand for farnesol in times to come.
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