Synthetic Musk Market: Exploring the Impact of Trends on Strategies of Key Players: PFW Aroma Chemicals The Good Scents Company Givaudan Firmenich SA Guangzhou Flower Flavours & Fragrances Co.,Ltd. Baruti & OTHERS
Synthetic musk is used as a flavoring and fragrance agent for numerous applications including cosmetics & personal care, soap & detergent, food, household products, and others. Apart from its use in personal care industry, synthetic musk is also being used for medical purpose. The extraction of natural musk is a tedious task and there has been ban and regulations on killing of the deer. Moreover, to obtain 1kg of musk grains, ~30 animals had to be sacrificed. Therefore, major producers are switching to the synthetic musk for their need in the perfumery industry. The production of synthetic musk is regarded as a more ethical and economic way and is being increasingly adapted in the perfume industry. Synthetic musk is also known by alternate name such as white musk.
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Global Synthetic Musk Market Dynamics
With the rising disposable income and awareness, customers have increased their spending on personal care and cosmetic products. The significant growth of the perfume and fragrance industry is expected to drive the demand for synthetic musk over the forecast period. From macro-economic point of view, the rising global population is projected to create an upsurge in demand for more perfume products, soaps and sprays, toiletries among others, which has musk as an important constituent, thus driving the market growth.
The advantage of using synthetic musk over the natural musk is, natural musk is not easily available because of the ban on animal hunting therefore synthetic musk is being used as alternative to deer musk. The high price associated with the extraction natural musk is also a major factor driving the growth of the global synthetic musk market.
The stringent regulations on the import and export of the natural animal derived musk is also a major factor that has fuelled the demand for synthetic musk over the forecast period.
Some of the studies believed that synthetic musk can be harmful for the human beings. These chemicals can enter the human body through absorption by skin, inhalation, and ingestion of food that have been exposed to these chemicals. Synthetic musk in some cases has reported endocrine disruption, organ toxicity, reproductive toxicity and bioaccumulation.
There are stringent regulations pertaining to the use of these chemicals and some synthetic musk have been banned in countries such as Japan and European countries. The use of natural oils and other biologically derived natural scents is also a major factor restraining the demand for synthetic musk.
The global synthetic musk market has witnessed increase in demand for polycyclic musk as they are less harmful to environment and are better as compared to the conventionally used nitro musk.
The growing stringent regulations on the use of green chemicals has led manufacturers to focus on the development of environmental-friendly bio-based musk
Global Synthetic Musk Market Segmentation
The global synthetic musk market can be segmented on the basis of product type and application.
On the basis of product type, the global synthetic musk market is segmented as:
Ketone synthetic musk
Xylene synthetic musk
On the basis of application, the global synthetic musk market is segmented as:
Global Synthetic Musk Market: Regional Outlook
In terms of regional perspective, North America and Europe are projected to hold significant share in the global synthetic musk market. Asia Pacific is projected to expand at relatively higher CAGR over the forecast period. Middle East and Africa is also anticipated to represent noteworthy share in the global synthetic musk market. Other regions such as Japan and Latin America are projected to witness moderate demand for synthetic musk over the forecast period.
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Global Synthetic Musk Market: Participants
Examples of some of the key participants identified across the value chain of the global synthetic musk market are:
PFW Aroma Chemicals
The Good Scents Company
Guangzhou Flower Flavours & Fragrances Co.,Ltd.
A.M. Aromatics Private Limited
S. C. Johnson & Son, Inc.
European Flavours & Fragrances PLC
The Brooklyn Perfume Company
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