Global Phenethyl Alcohol Market is segmented By Type (Natural, Synthetic), By Application (Cosmetics & Personal Care, Laundry & Home Care, Food & Beverages, Pharmaceuticals, Cosmetics, Others) and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031.
Market Overview
The global phenethyl alcohol market reached USD million in 2022 and is projected to witness lucrative growth by reaching up to USD million by 2031. The market is growing at a CAGR of 5.1% during the forecast period (2024-2031). Phenethyl alcohol is an organic compound with the molecular formula C6H5CH2CH2OH.
It is a volatile substance with a rose-like odor and has a clear, colorless, slightly viscous liquid. Phenethyl alcohol is a volatile substance widely used in foods, fragrances and cosmetics. In cosmetics and personal care products, phenethyl alcohol is used in formulation of makeup, eye area makeup, skin care products, perfumes, shampoos and colognes. It also inhibits or prevents bacterial growth, protects cosmetics and personal care products from spoilage and adds fragrance.
Market Scope and Summary
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Metrics |
Details |
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CAGR |
5.1% |
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Size Available for Years |
2023-2031 |
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Forecast Period |
2024-2031 |
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Data Availability |
Value (US$) and Volume (Tons) |
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Segments Covered |
Type, Application and Region |
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Regions Covered |
North America, Europe, Asia-Pacific, South America, and Middle East & Africa |
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Fastest Growing Region |
Asia-Pacific |
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Largest Region |
Asia-Pacific |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
Market Dynamics and Trends
The increasing use of phenethyl alcohol in personal care products as a disinfectant, cleaning, and maintenance solution
Phenethyl alcohol is used in the production of personal care. It can eliminate microorganisms and function as a disinfectant. As a result, it is utilized in cleaning and maintenance solutions. It preserves cosmetics and other personal care items from spoiling by inhibiting or stopping the development of microorganisms. In addition, phenethyl alcohol is responsible for the scent it brings to the product.
Phenethyl alcohol has many useful properties, including preservation and it is a major application in cosmetics. The increase in consumer interest in premium surge products drives the market growth. Further, the number of individuals in the upper middle class is increasing in online beauty spending and sure, in the world population of senior citizens is the primary factor driving the grown the cosmetic market and the contribution toward the expansion of phenethyl alcohol.
The fluctuation of raw material costs
The high cost of raw materials can significantly restrain the global phenethyl alcohol market. Phenethyl alcohol is mainly produced from benzene, which is a petrochemical product. The cost of benzene is affected by various factors such as crude oil prices, global demand and supply and production capacities. As a result, the cost of raw materials can vary greatly, leading to increased production costs for phenethyl alcohol manufacturers. It can result in higher prices for phenethyl alcohol, making it less attractive for personal care and cosmetic manufacturers to use it in their products.
Market Segment Analysis
The global phenethyl alcohol market is segmented based on type, application and region.
The increasing demand for pharmaceuticals globally, driven by an aging population and the growing prevalence of chronic diseases
The pharmaceutical industry dominates the global phenethyl alcohol market due to its increasing demand for the product in the respective segment. Phenethyl alcohol is used as an excipient in the pharmaceutical industry, which means it is used as a carrier or diluent for active ingredients. In pharmaceuticals, it's used as a preservative and antimicrobial agent to prevent the growth of microorganisms in the products.
Additionally, it is also used in the synthesis of various drugs and APIs. The increasing demand for pharmaceuticals globally, driven by an aging population and the growing prevalence of chronic diseases, is expected to drive the demand for phenethyl alcohol in pharmaceutical segment.
Market Geographical Penetration
The growing population of Asia-Pacific which increases the demand for personal care and cosmetic products, drives the demand for phenethyl alcohol
The growing population in the Asia-Pacific region is a major factor contributing to the region dominating the global phenethyl alcohol market. A large population leads to a high demand for personal care and cosmetic products, which drives the demand for phenethyl alcohol, as it is used as a fragrance ingredient. A larger population also creates more demand in the healthcare and pharmaceutical industry, which drives the demand for phenethyl alcohol. The high population density in the region is expected to lead to continued growth in the demand for phenethyl alcohol in the coming years.
Companies and Competitive Landscape
The major global players include Symrise AG., Shanghai Shenbao Flavors& Fragrances Co., Ltd., Evesa, Mitsubishi Chemical, Cinch Chemicals Pvt.Ltd., Novorate Biotech, Hubei Jusheng Technology Co.Ltd., LyondellBasell Industries N.V., Eastman and Eco Organics.
Key Developments
- In February 2021, Symrise AG company upgraded its online platform. The phenethyl alcohol ingredient finder for flavor & fragrance raw materials. The upgradation in the online platform will enable customers to access detailed information on flavors, fragrances and pharmaceutical raw materials available on the ingredient finder.
- Tennants Fine Chemicals Ltd. and its fully owned companies in Singapore and China were acquired by Eternis Fine Chemicals Ltd. in 2021 from Tennants Consolidated Limited. Due to this deal, consumers now have access to a wider variety of aroma chemicals, including phenethyl alcohol, from Eternis and Tennants Fine Chemicals.
The global phenethyl alcohol market report would provide approximately 50 tables, 47 figures and 173 Pages.
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