The market for phenylethyl was valued at US$ 269.85 billion in 2022 and is predicted to reach US$ 461.85 billion by 2032, growing at a 5.7% CAGR.
Preservatives, aroma enhancers, soaps, creams, and other applications for phenylethyl are popular in the cosmetics and personal care industries. The cosmetics and personal care sector are rising as a result of growth factors such as strong demand for premium and luxury cosmetics, color cosmetics, and lifestyle trends.
With rising demand and growth for cosmetics and personal care products, the applicability of phenylethyl for preservatives and scent enhancers is expanding, supporting, and driving the global phenylethyl business.
Furthermore, rising consumer awareness of the benefits of natural chemicals in cosmetics and personal care products bodes well for the market.
As a result, cosmetic and personal care businesses are leaning toward replacing synthetic components with natural alternatives. Because natural cosmetic and personal care products are allergy-free and have no negative effects, they have emerged as important elements driving product demand.
| Report Attribute | Details |
|---|---|
| Market Value (2022) | US$ 269.85 Billion |
| Market Anticipated Value (2032) | US$ 461.85 Billion |
| Market Growth Rate (2022 to 2032) | 5.7% CAGR |
Phenylethyl is a chemical compound derived from ethylbenzene by removing one hydrogen atom from the side chain. Various elements such as acetaldehyde, alcohol, formate, acetate, propionate, methyl ether, phenyl acetate, acetaldehyde dimethyl acetyl, methacrylate, and isobutyrate are added in replacement of one hydrogen to the Phenylethyl compound.
The global Phenylethyl market is expected to have substantially high growth rate, attributed to growing pharmaceutical industry across the globe. North America accounts for significantly high revenue share in global Phenylethyl market, attributed to robust marketing and research in the region.
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The Global Phenylethyl market is thriving in the food and beverage industry for applications such as flavoring in food and drinks, food preservatives, and smell enhancers. The food and beverage sector is quickly expanding as a result of growth drivers such as rising consumer desire for processed and packaged foods and shifting food lifestyle patterns.
With the rising food and beverage sector, demand for phenylethyl in food flavors and smell enhancers is increasing, boosting the global phenylethyl business.
The development of alternative products with comparable or higher functional properties is a major issue limiting the growth of the Phenylethyl market. In skin care product compositions, salicylic acid, a beta hydroxyl acid, is a crucial alternative for phenylethyl. Salicylic acid is more effective than Phenylethyl in terms of skin exfoliation. Linalool is another option to Phenylethyl, which has traditionally been utilized in rose-based goods. As a result, the availability of many substitutes in the business may impede market demand in the next years.
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Phenylethyl alcohol has serious health consequences and is designated as dangerous by the Globally Harmonized System of Classification and Labelling (GHS) for acute consumption, single-exposure narcotics effect, and irritation. The phenylethyl group is associated with toxicity and has serious cardiovascular consequences.
The element's excessive concentration has serious health consequences, including dizziness, respiratory tract issues, skin irritation, eye irritation, and sleepiness. This chemical might cause digestive system inflammation and oral irritation if consumed. The health risks posed by phenyl ethyl alcohol limit its use and demand. As a result of these negative effects, the global phenylethyl market is expected to slow down and stagnate.
The growth of global Phenylethyl market is driven by growing pharmaceutical industry and innovation. The macroeconomic factor responsible for the growth of global Phenylethyl market is rising disposable income, the rapid rate of urbanization, and changing lifestyle of consumers. The key factor restraining the global Phenylethyl market is the harmful effect of Phenylethyl on the cardiovascular system.
The company providing the Phenylethyl have significantly high opportunity in regions such as North America, Europe, and Asia-Pacific, owing to the significant demand for Phenylethyl with rising demand for pharmaceuticals in the regions. The Phenylethyl market also experiencing significant opportunity in Latin America and the Middle East and Africa region as these are the emerging market, attributed to rising disposable income of consumers in these region.
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Basically, global Phenylethyl market is segmented on the basis of product type, application, and region. On the basis of product type global Phenylethyl market is sub-segmented as phenyl ethyl acetaldehyde, phenyl ethyl alcohol, phenyl ethyl formate, phenyl ethyl acetate, phenyl ethyl propionate, phenyl ethyl methyl ether, phenyl ethyl phenyl acetate, phenyl acetaldehyde dimethyl acetyl, phenyl ethyl methacrylate, and phenyl ethyl isobutyrate.
Among the product type segment, phenyl ethyl alcohol contributes for the significant revenue share over the forecast period in global Phenylethyl market, owing to increasing demand for phenyl ethyl alcohol in the pharmaceutical industry. On the basis of end-use, the global Phenylethyl market is sub-segmented as pharmaceuticals, research institutes, and others, wherein pharmaceuticals segment contribute comparatively high revenue share.
Based on the geographies, global Phenylethyl market is fragmented into seven key regions -- North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific except Japan, Japan, and the Middle East & Africa. Among the aforementioned regions, North America accounts for a significant share of global Phenylethyl market, owing to relatively high-value share of the region in the global pharmaceutical industry. Western Europe is followed by North America region in global Phenylethyl market.
The Asia-Pacific except Japan region accounts for significantly high volume share in global Phenylethyl market, owing to the substantial growth in the pharmaceutical industry in the region. Eastern Europe and Japan also accounts for significant value share in global Phenylethyl market.
The developing economy such as Middle East Africa and Latin America have a moderate opportunity in global Phenylethyl market, owing to the moderate growth rate in the pharmaceutical industry and growing population. Overall, the outlook for global Phenylethyl market will have a positive growth over the forecast period, owing to the increasing demand for the pharmaceuticals as an anti-counterfeiting measure.
Few players in global Phenylethyl market include Kdac Chem Pvt. Ltd., NOVORATE BIOTECH CO., LTD, Becton, Dickinson and Company, Penta Manufacturing Company, Ungerer & Company, and HARMONY ORGANICS PVT LTD.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
The market is likely to register a CAGR of 5.7% through 2032.
The market is currently valued at US$ 269.85 Bn in 2022.
The market is likely to grow to a valuation of US$ 461.85 Bn by 2032
North America is likely to be a leading market during the forecast period.
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Phenylethyl Market
