Citronellyl Formate Market - Analysis & Growth 2015 - 2023
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The market for citronellyl formate was mainly driven by perfumery and personal care industry. Citronellyl formate is one of the key ingredient in personal care products such as soaps, shower gels, shampoos, roll-on and body lotions among other. Moreover, it is also used in laundry care products such as detergent powders, acid cleaners and cleaning agents. Due to its characteristic odor, it is sometimes used as flavoring agent in beverages. Citronellyl formate has sweet odor with combination of apple, peach and fruity flavor. Due to this pleasant smell, citronellyl formate is used in incense sticks also known as agarbattis in some parts of the world. Furthermore, citronellyl formate is also used as a perfumery agent in candles. Citronellyl formate is also used in essential oils or volatile oils. These essential oils are used in aromatherapy for healing treatments. In food & beverage industry, citrononellyl formate is used as flavoring agents in beverages and aroma oils. In spite of major applications in perfumery and personal care industry, regulations from governing agencies such as U.S. FDA and EU related to the usage of citronellyl formate is likely to hinder the market growth. Further, a wide range of substitutes is available in the market for citronellyl formate.
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Asia Pacific dominated the demand for citronellyl formate in past few years and is anticipated to show similar trend over the next few years. China, India and Japan had the highest demand for citronellyl formate in Asia Pacific region. Southeast Asia is likely to exhibit higher demand for citronellyl formate owing to increasing demand for perfumery and personal care products from countries such as Indonesia, Singapore and Malaysia. Europe followed Asia pacific in 2013. Increasing demand from perfumery and essential oils market is driving the demand for citronellyl formate in this region. Countries such as Italy, France and the UK are the major consumers of citronellyl formate in this region. However, Central and Eastern Europe is projected to show potential market growth owing to rise in the perfumery market. Rest of the World market is anticipated to be the fastest growing region for citronellyl formate owing to higher demand for perfumery products from the Middle East and South America.
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