Cosmetics applications are projected to capture one-third of global anisole industry share by 2024

Anisole has excellent functional characteristics and is highly soluble in a range of organic solvents including ethanol, chloroform, diethyl ether, and benzene. Its properties make the compound suitable for application as a solvent in the synthesis of various organic compounds. Global anisole market trends will be majorly driven by extensive application as an intermediate during manufacturing of pharmaceuticals, dyes and fragrances.

Changing consumer outlook towards personal appearance along with a significant rise in disposable incomes is fueling the demand for premium skin-care products. Proliferation of global cosmetics & personal care sector will certainly accelerate the product demand in the near future. The compound is synthesized by methylation of sodium phenoxide with either methyl chloride or dimethyl sulfate. Global Market Insights, Inc., forecasts that global anisole market size will hit US$ 105 million by 2024.

Consumers have become increasingly fashion conscious and more aware about the use of personal care products. Growing penetration of social media platforms along with favorable demographics have been major factors fueling this trend in recent years. Upgradation in living standards of consumers and growing adoption of western lifestyle and culture is impacting anisole industry outlook through cosmetics demand.
Anisole with purity up to 99.5% holds a 50% revenue share in global anisole market and is anticipated to experience healthy growth over the coming years. This can be largely attributed to widespread product use in cosmetics, personal care, and fragrance industry. The product has additional application in cosmetic products such as lipsticks to add fragrance to the finished product.

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Anisole is prominently used as a chemical intermediate in the synthesis of bulk pharmaceuticals such as raloxifene, dextromethorphan, as well as substrates of antiseptics and expectorants. Pharmaceutical applications segment will offer a robust CAGR of 4.4% to global anisole market size over 2018-2024. A booming world population along with evolving lifestyles has fueled the demand for perfumes, fragrances and other cosmetics and personal care products.

Cosmetics applications are projected to capture one-third of global anisole industry share by 2024. Favorable government norms and regulatory framework in various regions concerning the use of anisole in manufacturing of pharmaceuticals will propel the business growth. Anisole is predominantly used as a key precursor in manufacturing various pharmaceutical compounds. For instance, mequinol is a type of phenol which is used in organic chemistry and dermatology.

Asia Pacific will account for almost 30% revenue share in anisole market by the end of the projected timeframe. This can be linked with the rise in the disposable incomes of consumers and growing impact of globalization of consumer lifestyles. Changing climatic conditions are anticipated to boost the demand for skin care products such as sunscreens with SPF protection. In addition, heavy dependence on imported personal care products and the expanding footprint of foreign brands across the region will complement the regional outlook.

Aging population will be a major factor driving the market growth in developed regions. It is estimated that people aged 65 or more in countries such as Japan and in Western Europe will reach 30% and 21% respectively by 2021. Further, in countries such as Argentina, Chile, Venezuela, and Brazil, a booming pharmaceutical sector will present favorable opportunities to regional manufacturers.

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Global Market Insights, Inc.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

This release was published on openPR.