Benzenoid Market Growing Demand for Soaps and Detergent Segment

According to Precision Business Insights (PBI), the latest report, the benzenoid market is expected to be valued at USD 742.2 million in 2022, growing at a 5.9% CAGR from 2022 to 2028. The primary drivers of the expansion of the global benzenoid market include the increasing demand for beauty products, and fragrances, the shifting flavor & fragrance trends and preferences, and increasing retail sales.

Soaps & Detergent Segment to Dominate the Benzenoid Market:
Based on the application, the global benzenoid market is segmented into soaps & detergents, personal care, food & beverage, household care, and others. The soaps & detergent segment is expected to account for a larger revenue share in the global benzenoid market, with a value share worldwide. Benzenoid is widely used for the manufacturing of soaps and detergents. The increasing awareness and the growing hygiene consciousness are fuelling the demand for soaps and detergents, especially in emerging countries. Hence, this segment will dominate the global benzenoid market and is expected to grow at a significant rate in the forecasted years.

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Asia Pacific Benzenoid Market:
The Asia Pacific market is expected to increase in the global benzenoid market over the forecast period. It is projected to grow at a CAGR of xx% in the coming years. The Asia Pacific market is expanding as a result of the increasing demand for soaps and detergents, and the growing demand for beauty products. Europe held considerable market share during the estimated period owing to the presence of global players in this region and the increasing usage of personal care products.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global benzenoid market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region.

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The benzenoid market is segmented based on product type, application, and geography.
Based on the product type, the market is segmented into the following:
• Benzyl Acetate
• Benzoate
• Chloride
• Salicylate
• Benzaldehyde
• Cinnamyl
• Vanillin
• Others

Based on the application, the market is segmented into the following:
• Soaps & Detergents
• Personal Care
• Food & Beverage
• Household Care
• Others

Based on geography, the market is segmented into the following:
• North America
• Europe
• The Asia Pacific
• Latin America
• MEA

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Key players' profiles in the benzenoid market report are BASF SE, Firmenich SA, International Flavors & Fragrances, Inc., Valtris Specialty Chemicals, Eternis Fine Chemicals Ltd, Symrise AG, Sensient Technologies Corporation, Givaudan, Emerald Kalama Chemical, and Tennants Fine Chemicals Ltd.

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This release was published on openPR.