The global isophytol market size was US$ 472.4 million in 2021. The global isophytol market is forecast to grow to US$ 619.3 million by 2030 by registering a compound annual growth rate (CAGR) of 3.1% during the forecast period from 2022 to 2030.
Isophytol is an aroma ingredient used in various fragrance compounds. It is also a specialty chemical primarily used to synthesize tocopherol acetate. The product finds its wide applications in fine fragrances, shampoos, toilet soaps, household cleaners, detergents, etc.
COVID-19 Impact Analysis
The COVID-19 pandemic has negatively affected the global isophytol market, owing to complete lockout in various countries. Furthermore, the chemical industry has witnessed various challenges, such as demand-supply match, inaccessibility to raw materials, and price instability. All of this has created a substantial scarcity of resources. On the contrary, the rising use of sterilizing solutions has been beneficial for the isophytol industry. Post-pandemic, the market is forecast to recover from the loss as industry players are planning innovative strategies to combat the challenge.
Factors Influencing the Market
The demand for efficient personal care products is increasing due to growing urbanization and rising population all across the globe. Isophytol, as an aroma ingredient, is widely used in the manufacturing of a maximum number of personal care products, including soap, perfumes, shampoos, skincare products, etc. Thus, the rising demand for these products will benefit the isophytol market.
The rising consumption of medicated personal care products and vitamin supplements will contribute to the growth of the market. In addition to that, the growing number of innovative launches related to personal care products, combined with the trending men’s care products, will all drive the isophytol market forward.
Awareness related to the benefits of herbal products is increasing rapidly. People prefer herbal products more as they are effective and safe for sensitive skin. Thus, it will escalate the demand for herbal isophytol during the forecast period.
The rising demand for chemical-free products may limit the growth of the isophytol market.
Regional Analysis
The Asia-Pacific isophytol market is forecast to register significant growth, owing to the growing disposable income and rising inclination towards online shopping.
In addition, growing consumer spending on healthcare and effective pharmaceuticals sector will also drive the isophytol market forward.
The market may witness rapid growth in the region, owing to the growing demand for effective personal care products. Furthermore, the demand for premium quality products for men’s care is observed increasing in the region. As a result, it will benefit the Asia-Pacific isophytol market.
The growing trend of herbal products will surge the demand for herbal fragrances. Thus, the growing awareness about the benefits of herbal products over synthetic products will also contribute to the growth of the global isophytol market.
Competitors in the Market
Market Segmentation
The global isophytol market segmentation focuses on Fragrance, Application, and Region.
By Fragrance Type Outlook
By Application Outlook
By Regional Outlook
