Benzyl Alcohol Global Market Exhibit a Remarkable CAGR of 6.5% and is expected to reach $4.33 Billion By 2028 | Merck KGaA, LANXESS, Avantor Inc., Elan Chemical, Finar Limited

"The new report published by The Business Research Company, titled ""Benzyl Alcohol Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the benzyl alcohol market size has grown strongly in recent years. It will grow from $3.17 billion in 2023 to $3.36 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The benzyl alcohol market size is expected to see strong growth in the next few years. It will grow to $4.33 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%.

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Rising Demand For Cosmetics And Personal Care Products Fuels Benzyl Alcohol Market Growth
The increasing demand for cosmetics and personal care products is expected to propel the growth of the benzyl alcohol market going forward. Cosmetics and personal care products are substances or preparations intended for application to the human body, including the skin, hair, nails, lips, and oral cavity. The rise in demand for cosmetics and personal care products is due to the emphasis on self-care, influencer marketing, formulation advancements, and the demand for natural ingredients. Benzyl alcohol is necessary in personal care and cosmetics, ensuring safety, stability, and efficacy and offering skin conditioning and fragrance-enhancing properties that enrich the user experience. For instance, in September 2023, according to the Bureau of Labor Statistics, a US-based government agency, personal care products and services increased by 12.3% in 2022 from 19.3% in 2021. Therefore, the increasing demand for cosmetics and personal care products is driving the growth of the benzyl alcohol market.

Benzyl Alcohol Market Growth Driven By Increasing Demand For Processed Food

The increasing demand for processed food is expected to propel the growth of the benzyl alcohol market going forward. Processed food refers to any food altered from its original form through various methods to enhance its shelf life, flavor, convenience, or nutritional value. The demand for processed food is due to evolving lifestyles, extended shelf life, advancements in food processing technologies, and convenient accessibility. Benzyl alcohol ensures processed foods' quality, safety, and stability, offering manufacturers an effective means of preserving product freshness, flavor, and shelf life while ensuring consumer satisfaction and compliance with food safety standards. For instance, in 2023, according to the United States Department of Agriculture, a US-based federal agency, US processed food exports to the nation amounted to $38.17 billion in total value, up from $34.19 billion in 2021. Therefore, the increasing demand for processed food is driving the growth of the benzyl alcohol market.

The benzyl alcohol market covered in this report is segmented -
1) By Product: Industrial Grade, Food Grade, Pharmaceutical Grade, Other Products
2) By Application: Dielectric Solvent, Bacteriostatic Preservative, Cleaning Agent, Epoxy Resins, Synthetic Solvent, Other Applications
3) By End User: Food And Beverages, Paints And Coating, Pharmaceuticals, Other End-Users

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Major companies operating in the benzyl alcohol market are The Dow Chemical Company, Thermo Fisher Scientific Inc., Honeywell Research Chemicals, Merck KGaA, Evonik Industries AG, LANXESS, Avantor Inc., Elan Chemical, Croda International plc, Ashland, Valtris Specialty Chemicals, Ineos Group Limited, Liaoning Kelong Fine Chemical Co. Ltd., Pharmco by Greenfield Global, Connect Chemicals, Santa Cruz Biotechnology Inc., Wuhan Youji Industries Co. Ltd., Finar Limited, Tokyo Chemical Industry Co. Ltd., Emerald Performance Materials, Richman Chemical Inc., Aims Oxygen Pvt Ltd., Shimmer Chemicals Pvt. Ltd., Wuhan Biet Co. Ltd., Heranba Industries Ltd.

Contents of the report:
1. Executive Summary
2. Benzyl Alcohol Market Report Structure
3. Benzyl Alcohol Market Trends And Strategies
4. Benzyl Alcohol Market - Macro Economic Scenario
5. Benzyl Alcohol Market Size And Growth
…..
27. Benzyl Alcohol Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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