Resinoids Market Outlook
Nowadays, consumers are seeking for more prestige and niche fragrances as the scents and aromas have a strong influence over people. Thus, when it comes to creating the perfect flavors and aromas, it is essential to extract the right natural occurring compounds, and the essence of these fragrances can be captured in the form of resinoids. Resinoids are a thermosetting synthetic resin which mainly contains non-volatile compounds and can result in wide range of products or byproducts. Resinoids are prepared from naturally resinous plant exudates such as oleoresins, balsams, and natural oleoresins that have been exposed to extraction with hydrocarbon solvents. The product mainly contains predominantly non-volatile, resinous compounds. Resinoids are frequently used as fixatives in fragrances owing to its long-lasting aromas used in soaps, toiletries, detergents, and others applications. Moreover, it also helps the scent to endure rather than dissolve thus it is widely used in perfumery and aromatherapy.
Reasons for Covering Resinoids Market Title
Expanding consumer preference, demand for customization and luxury fragrance, increasing applications of resinoids in aromatherapy, growing trend of brand loyalty among consumers, rapidly accelerating consumer awareness, and increasing demand for fragrances and flavors in personal care and food and beverages industry are the factors influencing the growth of the resinoids market in the near future. Additionally, growing concerns for personal grooming and expanding demand for exotic fragrances among consumers, growing population, high per capita spending on personal care products, and product innovation is some other factors fueling the growth of the resinoids market during the forecast period.
Global Resinoids: Market Segmentation
On the basis of source, the global resinoids market has been segmented as –
- Benzoin Resinoids
- Labdanum Resinoids
- Olibanum Resinoids
- Orris Resinoids
- Myrrh Resinoids
- Galbanum Resinoids
On the basis of application, the global Resinoids market has been segmented as –
- Food & Beverages
- Cosmetics & Personal Care
Global Resinoids Market: Key Players
Some of the key players operating in the global resinoids market are Synthite Industries Ltd., Albert Vieille SAS, Bontoux S.A.S., Ansh Exports Company, Ernesto Ventós S.A., Excellentia International Company, Firmenich SA, LLUCH ESSENCE, S.L., and others.
Region Wise Market Presence of Key Manufacturers in Global Resinoids Market
Consumers are seeking for exotic scents, growing disposable income of consumers, and accelerating trend of product premiumization which is attributed to increase in demand for luxury fragrances developed with resinoids are some of the leading factors driving the growth of the global resinoids market. Moreover, rise in customer spending on personal and beauty care products and is expected to grow the resinoids market during the forecast period.
Opportunities for Global Resinoids Market Participants
Consumers are demanding for aromatic cleaning agents, organic personal care products, and rise in popularity of exotic fragrance in food and beverages are the factors due to which resinoids market revenue is expected to grow at a rapid growth rate, over the forecast period. Moreover, new product development, the launch of novel products using resinoids, and rising research and development activities are the primary factor accelerating the growth of the resinoids market.
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