Ethyl linalool Market : Analysis and Forecast by 2024
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Ethyl linalool is used in a wide range of applications in industrial and consumer industries. It is used as an odor agent in various industries. On the other hand, ethyl linalool is employed in air care products, laundry and dishwashing products, and personal care products in consumer industries. Ethyl linalool has floral freshness and fragrance; hence, it is widely used in numerous types of functional and alcoholic perfumes. Ethyl linalool is similar to linalool.
Rise in demand for personal and home care products in emerging economies in Latin America is expected to drive the ethyl linalool market. Ethyl linalool is widely used in perfumes and fragrances materials. Thus, increase in demand and usage of perfumes among females and males of all ages is anticipated to fuel the ethyl linalool market. Other factors driving the ethyl linalool market are increasing online retail penetration, accessibility of perfumes in various price ranges as per brand, fragrance, and quality, and rising expenditure on personal and beauty care products by consumers. Moreover, launch of new innovative perfumes with skin and mood enhancers is estimated to boost the retail sales of perfumes. This is projected to augment the ethyl linalool market in the near future. Whereas, the accessibility of fake materials and usage of harmful chemical elements are factors anticipated to restrain the global ethyl linalool market during the forecast period.
Fragrances have the characteristics of enhancing mood in human beings. This coupled with increase in usage of perfumes and fragrances by household end-users is likely to provide immense growth opportunities to the global ethyl linalool market. Therefore, fragrance or perfumes have emerged as an essential product in daily lives. This is anticipated to be a major opportunity for the ethyl linalool market during the forecast period.
The ethyl linalool market can be segmented in terms of application and region. Based on application, the market can be divided into antiperspirants (deodorants), lipsticks, alcoholic perfume, talcum powder, liquid soap, tablet soap, shampoo, bath/shower gel, hair conditioner, detergent powder, fabric softener, liquid detergent, and others. Of these, alcoholic perfume, liquid soap, and shampoo are usable applications of ethyl linalool market. Perfume is used as a luxury accessory, and is one of the most popular products. The perfume market is estimated to expand at a CAGR of 20% to 25% during the forecast period.
Based on region, the ethyl linalool market can be segregated into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. Europe is a key region in the global ethyl linalool market, followed by North America. Europe accounts for major share of the market due to the high demand for cosmetic products in the region. The market for fragrances and perfume products is expected to expand at a rapid pace in Asia Pacific during the forecast period owing to the increase in demand and consumption of ethyl linalool in developing countries such as China, India, and Japan. This can also be ascribed to the rise in population and growth of various industries in countries such as India and China. Furthermore, rise in disposable income allows consumers to spend increasingly on luxury products. This is another factor estimated to drive the ethyl linalool market in Asia Pacific in the near future.
Significant growth opportunity in the fragrance and perfumes market, numerous multinational companies have started entering into this market. Key players operating in the ethyl linalool market are LVMH, Coty Inc., Estee Lauder Companies Inc., L’Oreal International, Shiseido Co. Ltd., Elizabeth Arden Inc., Puig, Avon Products Inc., Perfumania Holdings Inc.,Hermes, , 3B Pharmachem (Wuhan) International Co.,Ltd., TIANJIN ZHONGXIN CHEMTECH CO., LTD., 3B Pharmachem (Wuhan) International Co.,Ltd., and Wuhan DKY Technology Co.,Ltd
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