CitronellolMarket: Introduction
TransparencyMarket Research delivers key insights on the global citronellolmarket. In terms of revenue, the global citronellol market is estimatedto expand at a CAGR of ~4% during theforecast period, owing to numerous factors, regarding which TMR offers thoroughinsights and forecasts in its report on the global citronellol market.
The globalcitronellol market is broadly affected by several factors such as rose oilimport-export data, flavor & fragrance industry growth, and GDP growth ofrespective countries considered in the study. Thus, expansion in applicationsof citronellol in different sectors is propelling the global citronellol market.
Citronellol Market: Dynamics
Manyproducts are used in the formulation of flavors and fragrances. The pleasantsmell of rose helps in reducing stress and lowering the heart rate. Rose aromaalso helps calm the mind and uplift mood. Citronellol is a type of rose aromaadditive, which is primarily used as fragrance enhancer in flavor &fragrance applications.
Accordingto S H Kelkar and Company Limited’s 2019 annual investor presentation report,the global fragrance & flavor industry was valued at US$ 25.9 Bnin 2017 and is expected to expand at a CAGR of 5% by the end of2021. Citronellol is gaining traction as a fragrance enhancer in the perfumeryindustry. Citronellol is a versatile material and belongs to the category ofrose alcohols. It is often used in combination with geraniol, nerol, and phenylethyl alcohol to form the basis for rose scents.
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Citronellol Market: ProminentRegions
AsiaPacific dominated the global citronellol market with more than 50% share in2019. This trend is anticipated to continue during the forecast period. Rise indemand for flavor and fragrance products in Asia Pacific is boosting the demandfor citronellol in the region. Companies such as Privi Speciality Chemicals Limited, Crescent Fragrances Pvt. Ltd.,Guangzhou Baihua Flavors and Fragrances Co., Ltd, Capot Chemical Co., Ltd.,Zhejiang NHU Co. Ltd., Takasago International Corporation, and JayshreeAromatics Pvt. Ltd. operatein the citronellol market in Asia Pacific. These players focus on managing thecost of raw materials, and optimizing energy and other utility usage.
Thecitronellol market in Europe is estimated to expand at a healthy CAGR duringthe forecast period due to the growth in flavor & fragrance, personal care,and home care sectors in the region. Mergers and acquisitions and capacityexpansion are key strategies adopted by major companies to gain higher share ofthe citronellol market.
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Citronellol Market: Key Players
The globalcitronellol market was highly consolidated in 2019. Major manufacturerscollectively accounted for more than 50% share of the global citronellol marketin 2019. BASF SE, Jayshree Aromatics Pvt Ltd, Takasago InternationalCorporation, Privi Speciality Chemicals Limited, Crescent Fragrances Pvt. Ltd,Guangzhou Baihua Flavours and Fragrances Co., Ltd., International Flavors &Fragrances Inc., Emerald Performance Materials, Zhejiang NHU Co. Ltd., andCapot Chemical Co., Ltd. are the key players operating in the globalcitronellol market.
BASF SEaccounted for prominent share of the global citronellol market in 2019. Thecompany’s aroma ingredients manufacturing plant is situated in Gebeng,Malaysia, as well as in Ludwigshafen, Germany. The new facility in Malaysia iscapable of producing citral and its precursors, citronellol and L-menthol, tocater to the rising demand for citronellol in the flavor & fragranceindustry. In 2019, BASF SE acquired Conagen, a research leader in thefield of biotechnology. The acquisition is expected to help BASF SE meet thehigh demand for aroma ingredients such as natural vanillin and citronellol.
JayshreeAromatics Pvt. Ltd. is a manufacturer of citronellol dye intermediates andpigments. These are widely employed in end-use industries such as fragrance,flavor, pharmaceutical, and nutraceutical.
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