According to the business intelligence report titled ‘2-Phenylethanol Market Size by Product (Synthetic, Natural), By Application (Cosmetics & Personal Care, Laundry & Home Care, Food & Beverages, Pharmaceuticals) Industry Analysis Report, Regional Outlook, Application Potential, Covid-19 Impact Analysis, Price Trend, Competitive Market 2021- 2027’, available with MarketStudyReport, 2-Phenylethanol market is slated to grow substantially through 2027.
 

Industry veterans cite that increased efforts on R&D along with rise in the utilization of the product in food and beverages, as well as repellents, is augmenting global 2- Phenylethanol market growth.

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For the unanimated, 2-phenylethanol is a type of primary alcohol that is utilized in the preservation of distilled and fermented beverages as it emits a flowery rose-like fragrance. Risks associated with toxic by-products have led to an increase in the need for naturally induced 2-Phenylethanol. This demand has encouraged production through biosynthesis, wherein the process has aided in reducing by-products.

Rising focus on resolving issues with regards to existing production methods has helped in the upward movement of the industry. However, the availability of better substitutes may hinder the growth trajectory of this market sphere during the evaluation period.

From the perspective of application, the 2-Phenylethanol industry is divided into cosmetics & personal care, pharmaceuticals, laundry & home care, food & beverages, and others. The others segmentation, comprising of textiles, plastic & rubber products, polishes & waxes, and paper, is anticipated to exceed a valuation of USD 16 Mn by 2027.

The regional landscape of the market spans across North America, Europe, Latin America, and Middle East & Africa regions. Among these, the Latin America market is expected to garner a significant valuation of USD 20.5 Mn by 2027 owing to increased number of research activities within the area. Meanwhile, the market in Middle East & Africa is projected to record a healthy growth rate of 4.4% during the analysis timeframe.

The competitive framework of the 2-Phenylethanol market is defined by key players such as Toyatama International Inc., Shanghai Pu-Jie Fragrance Co., Ltd., Symrise AG, Zhejiang Novorate Biotech Co., Ltd, Apple Flavor and Fragrance Group Co., Ltd, Firmenich SA, LyondellBasell Industries N.V., Alkyl Amines Chemicals Limited, Shandong Xinhua Pharmaceutical Co., Ltd., and YingYang (China) Aroma Chemical Group.