Market Dynamics
The market is driven by the role of benzyl alcohol as a preservative and flavoring agent. Changes in lifestyles and food habits of people have significantly increased the demand for processed foods and beverages globally. In addition, the rise in the disposable incomes of consumers has increased the spending on dining out and the consumption of ready-to-eat foods. Benzyl alcohol is widely used in the food and beverage industry to increase the shelf life of food products. Therefore, the increasing consumption of processed and ready-to-eat foods is expected to drive the growth of the global benzyl alcohol market during the forecast period.
As per Technavio, the increasing use of benzyl alcohol in personal care products will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth.
Benzyl Alcohol Market: Increasing Use Of Benzyl Alcohol In Personal Care Products
Consumers are increasingly becoming aware of the side effects of parabens and silicones in products such as eye shadows, face creams, wrinkle-free creams, and other night creams. This is forcing personal care product manufacturers to use natural safer alternatives such as benzyl alcohol as a preservative in personal care products and cosmetics such as body lotions, sunscreens, shampoos, soaps, and hair care solutions. This trend is expected to further accelerate the growth of the global benzyl alcohol market during the forecast period.
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Benzyl Alcohol Market: Segmentation Analysis
This market research report segments the benzyl alcohol market by end-user (paints and coatings, personal care, pharmaceutical, and others) and geographic (APAC, Europe, North America, MEA, and South America).
The APAC region led the market in 2021, followed by Europe, North America, MEA, and South America respectively. During the forecast period, the APAC region is expected to register the highest incremental growth. Governments in many APAC countries are undertaking various initiatives to strengthen healthcare. In addition, about 45%-55% of the global demand for various vaccines is supplied by India. In January 2020, pharmaceutical exports in the country stood at USD 12 – USD 14 billion. All these factors are driving the growth of the benzyl alcohol market in APAC.
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Some of the key topics covered in the report include:
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Related Reports:
Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2019 |
Forecast period |
2020-2024 |
Growth momentum & CAGR |
Accelerate at a CAGR of 2.48% |
Market growth 2020-2024 |
18.5 thousand units |
Market structure |
Fragmented |
YoY growth (%) |
2.34 |
Regional analysis |
APAC, Europe, North America, MEA, and South America |
Performing market contribution |
APAC at 53% |
Key consumer countries |
China, Germany, India, US, and Canada |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Charkit Chemical Co. LLC, Elan Chemical Co., Emerald Performance Materials LLC, Greenfield Global Inc., Gujarat Alkalies and Chemicals Ltd., Hydrite Chemical Co., INEOS Group Holdings SA, LANXESS AG, Richman Chemical Inc., and Tokyo Chemical Industry Co. Ltd. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents:
Executive Summary
Market Landscape
- Market ecosystem
- Market characteristics
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2020
- Market outlook: Forecast for 2020-2025
Five Forces Analysis
- Five Forces Summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by End user
- Market segments
- Comparison by End user
- Paints and coatings - Market size and forecast 2020-2025
- Personal care - Market size and forecast 2020-2025
- Pharmaceutical - Market size and forecast 2020-2025
- Others - Market size and forecast 2020-2025
- Market opportunity by End user
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2020-2025
- Europe - Market size and forecast 2020-2025
- North America - Market size and forecast 2020-2025
- MEA - Market size and forecast 2020-2025
- South America - Market size and forecast 2020-2025
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Charkit Chemical Co. LLC
- Elan Chemical Co.
- Emerald Performance Materials LLC
- Greenfield Global Inc.
- Gujarat Alkalies and Chemicals Ltd.
- Hydrite Chemical Co.
- INEOS Group Holdings SA
- LANXESS AG
- Richman Chemical Inc.
- Tokyo Chemical Industry Co. Ltd.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
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