Methyl Dihydrojasmonate Market - Global Industry Analysis 2024
Based on occurrence, the methyl dihydrojasmonate market has been divided into the following groups: jasmine, tea, and heliotropium peruvianum. Tea accounts for a significant share in the global market owing to its high availability in Asia Pacific. Jasmine is expected to experience a high growth rate, driven by the growing demand for it in the perfume industry. Changing consumer preferences and fashion trends are anticipated to boost the need for perfumes and therefore for methyl dihydrojasmonate during the forecast period.
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In terms of geography, the global methyl dihydrojasmonate market has been distributed over Asia Pacific, North America, Europe, Middle East & Africa, and Latin America. Asia Pacific was a major market in 2015 and is estimated to expand due to the increasing demand for perfumes here. The growing requirement for flavors and fragrances in the fashion and cosmetic industries is also projected to boost the need for methyl dihydrojasmonate in the near future. Its applications are driven by the rising need for perfume products such as body sprays, deodorants, and face powders. The surge in the disposable incomes of consumers in North America and Europe is also projected to propel the methyl dihydrojasmonate market in these regions, especially in the U.S. and U.K., which are likely to constitute major shares in the cosmetic products market here, also due to the new product launches taking place in these countries.
Developing economies in Asia, namely China and India, are also projected to register a high growth rate in the perfume & fragrance industry due to the increasing incomes of consumers and changing lifestyles which, in turn, are expected to propel the methyl dihydrojasmonate market, along with the rising propensity among men as well as women to spend on perfumes and fragrance products. New product developments and marketing strategies are expected to boost the demand for methyl dihydrojasmonate in the perfume industry during the forecast period.
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Global demand for perfumes and fragrances is anticipated to rise significantly in the near future, thereby offering high growth opportunities for the methyl dihydrojasmonate market. Rapid increase in the demand for them in end-use applications, competitive manufacturing costs, and high economic growth rates are motivating the methyl dihydrojasmonate market in Asia Pacific. These factors are attracting companies to adopt expansion and R&D strategies in the region. Market players are focusing on Asia Pacific to gain extensive market shares. Producers of methyl dihydrojasmonate have been compelled to adopt acquisition strategies to meet the global demand and several of them are shifting their plants to countries such as China and India due to the high demand and low raw material and labor costs there.
Major players operating in the global methyl dihydrojasmonate market are Aecochem Products, Ernesto Ventós, S.A., Netvertise GmbH., and Simagchem Corporation.
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