Adoxal (G) Market Global Industry Analysis, size, share and Forecast 2015 - 2023
The growth in end user industries is expected to increase the consumption of adoxal (g). The growth in cosmetics and perfumes industry is expected to boost demand for adoxal (g). In addition, rising consumption in emerging economies of Asia Pacific and Latin America is expected to increase the consumption of adoxal (g). However, government regulations and fluctuating prices could hamper the growth of this market.
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North America is expected to be the largest consumer of adoxal (g) followed by Europe and Asia Pacific. Asia Pacific is currently the fastest growing market for adoxal (g) due to growing demand for perfumes and cosmetics in emerging economies. Changing consumer lifestyle, heightened importance on personal appearance and grooming and rising disposable incomes is driving the growth of the cosmetics and perfumes especially in Europe and Asia Pacific region. There is major growth potential for premium segments of perfumes due to expanding middle class in emerging economies.
The growth of cosmetics and perfumes market is expected to drive the demand for adoxal (g) as it is a major ingredient in perfumes. In addition, increased demand for youth-oriented and exotic fragrances is expected to set the pace for rapid market expansion. India and China are expected to be major consumers in Asia Pacific due to presence of established end user industries. Japan, Indonesia, Republic of Korea, Vietnam, Australia, New Zealand, Macau, Hong Kong and Malaysia are other major consumers of adoxal (g) in Asia Pacific. North America and Europe are expected to experience moderate to high growth.
The market is dominated by large and medium flavors and fragrances manufacturing companies. Majority of adoxal (g) manufacturers are based in Europe and North America. However companies are shifting their production plants to emerging economies of Asia Pacific to reduce production cost.
Some of the key players in this market are Givaudan (Switzerland), Firmenich SA (Switzerland), International Flavors & Fragrances (U.S.), Symrise (Germany), Takasago International Corporation (Japan), Wild Flavors (U.S.), Mane SA (France), Frutarom Industries Ltd. (Israel), Sensient Flavors and Fragrances Group (U.S.), Robertet SA (France), The John D. Walsh Company, Inc. (U.S.), Veera Fragrances Pvt Ltd (India), Guangzhou Meiyi Flavours & Fragrances Co., Ltd. (China), Guangzhou Flower Flavours & Fragrances Co., Ltd.(China), Shandong Fangsheng Aromatics Co., Ltd.(China), Dalian Sinobio Chemistry Co., Ltd.(China), Yiwu Niya Cosmetics Co., Ltd.(China), Guangzhou Frandy Daily Chemical Co., Ltd.(China), Xiamen Golden Biotechnology Co., Ltd. (china), Guangzhou Handyware Flavor& Seasoning Co., Ltd.(China), Shenzhen Boton Flavors And Fragrances Co., Ltd. (China), Changsha Kamer Essence And Flavor Co., Ltd. (China) and T. Hasegawa (Japan) among others.
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Companies are using strategic acquisitions and mergers to increase their market share. In addition, companies are expanding their product portfolio through collaborations and investments in research and development. Furthermore companies are relying on their advanced manufacturing technology and economies of scale to reduce production costs.
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