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Dihydrocitronellol Market Size will Observe Substantial Growth by 2024
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Based on application, the dihydrocitronellol market can be classified into cosmetics and home cleaning. Home cleaning can be further sub-segmented into laundry and dishwashing applications. Rise in awareness among consumers regarding the usage of environmentally-friendly products in cosmetics is expected to fuel the demand for dihydrocitronellol in the near future. Several government organizations have been implementing stringent regulations regarding the usage of chemical ingredients in cosmetic products. The environmentally-friendly nature of dihydrocitronellol is anticipated to positively impact cosmetic manufacturers. This, in turn, is estimated to enhance the usage of dihydrocitronellol during the forecast period. Furthermore, the home cleaning application is projected to create positive outlook for dihydrocitronellol. Demand for home cleaning products such as laundry products and dishwashing products has been increasing since the last few years owing to its superior cleaning properties. Dihydrocitronellol is an environmentally-friendly ingredient; hence, the final products are harmless to consumers. This, in turn, is predicted to boost the dihydrocitronellol market. There has been an increase in consumer concerns regarding the usage of chemical products in their daily lives. Hence, the usage of products extracted from flowers is likely to lead to positive consumer sentiment in the near future.
Asia Pacific is anticipated to be a highly lucrative market for dihydrocitronellol in the next few years primarily due to the increasing demand for cosmetics and home cleaning products in developing countries such as India and China. Large scale cosmetics manufacturer are operating in North America and Europe. Implementation of stringent regulations on the usage of chemicals ingredients in cosmetics products in these regions is expected to propel the dihydrocitronellol market. Additionally, production of cosmetics has been rising steadily in countries in Latin America and Middle East & Africa since the last few years. The dihydrocitronellol market in countries such as India, China, and Brazil offer immense growth potential. Rise in population in developing countries, increase in disposable income, and growth in purchase parity of consumers are driving the cosmetics market in these countries. This, in turn, is creating an optimistic outlook for the global dihydrocitronellol market. The usage of home cleaning products has been rising steadily since the last few years. Dihydrocitronellol provides natural rose fragrances to final products. This is expected to enhance the usage of dihydrocitronellol in home cleaning products. Thus, demand for dihydrocitronellol in cosmetics and home cleaning industries is projected to increase at a steady pace in the next few years.
Key players operating in the dihydrocitronellol market include Takasago International Corporation, The Good Scents Company, S. C. Johnson & Son, Inc., and M. P. Aromas.
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