(MENAFN- America News Hour) The Lauric Aldehyde Market is predicted to grow with a robust CAGR during the forecast period. Some of the significant factors that are anticipated to drive the market are the growing investments from the multinational companies in several nations worldwide to develop production facilities that can promote the production growth, backed by the rising need for chemicals from several end-user industries for different end-use purposes. According to the statistical report titled 'Global Chemicals Outlook II', published by the United Nations Environment Programme, the global chemical industry's production capacity almost doubled to reach 2.3 billion tonnes in the year 2017 from 1.2 billion tonnes in the year 2000. Moreover, increasing spending on research and innovation (R & I) for the development of advanced chemicals is also anticipated to drive the growth of the market over the forecast period.
Product Overview
The Lauric aldehyde is a colorless liquid with powerful floral odor. It is soluble in alcohol and is majorly used in perfumery products. It is also known by numerous other names which include lauraldehyde, dodecanal, and dodecylaldehyde. Generally, citrus fruit oils are the major source of lauric aldehyde, however commercially it is produced by the dehydrogenation of the chemical compound known as dodecanal. It extracted in the form of peel oil from citrus species and kumquat. It can also be found in scallop, ginger, coriander, and chervil. The Lauric aldehyde is primarily used as a flavoring agent and as an additive in perfumes.
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Market Size and Forecast
The global lauric aldehyde market is expected to grow at a CAGR around 5.3% during 2017-2027. The market is majorly driven by the changing consumer lifestyle especially related to preference and taste in food.
The global lauric aldehyde market is segmented on the basis of application and end-use industry. Moreover, on the basis of end-use industry, it segmented into personal care products and food industry. Rising population, change in income trends, increasing awareness among consumers, growing demand for cosmetics, household and personal care products is expected to drive the lauric aldehyde market. Acceptance of modified fragrances and growing expenditure on grooming is anticipated to increasing the market size of the global lauric aldehyde market.
By region, global building thermal insulation market is segmented into North America, Asia-Pacific, Latin America, Europe, Middle East and Africa. North America is expected to witness a substantial growth in forecast period on the account of the positioning of the product as a key component in perfumes, drinks and food. Moreover, high usage of cosmetics and personal care products by the young generation in U.S gives significant impact on the productivity growth in this region.
In Europe, Germany is the largest contributor to lauric aldehyde market. Rising usage of organic and natural product over synthetic ones especially for edibles is the driving factor for the market. In Asia-Pacific region, China and India is expected to hold the largest share of lauric aldehyde market. Increasing consumer expenditure on the account of rising disposable income and change in standard of living are few reasons which will uplift the product demand in this region. Increasing focus towards personal grooming among young women and teenagers regarding the use of famous brands of cosmetics provides big opportunity for lauric aldehyde market growth as it offers the excellent fragrance.
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Market Segmentation
Our in-depth analysis segmented the global lauric aldehyde market in the following segments:
By Application Type
Flavoring Agent
Stabilizers
Nutrient
Perfumes
Surfactants and Emulsifiers
By End-User Industry
Personal care products
Food industry
By Region
Global lauric aldehyde market is further classified on the basis of region as follows:
North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Growth Drivers and Challenges
Rising discretionary income of customer, evolving socioeconomics culture, and growing availability of processed food in retail shops are some of the factors that are driving global lauric aldehyde market. Moreover, the increasing e-commerce and online retailing is also a driving factor for the growth of the market. Increasing number of food and beverage companies has also increased demand for flavoring agents and additives which has augmented the growth of the global lauric aldehyde market. Increasing concern toward environment and growing efforts to reduce toxic waste are anticipated to drive the lauric aldehyde market size in. In modern years, extensive interest has grown in chemical industry on the account of availability of opportunity in order to replace synthetics products from natural & renewable based counterparts and tag with the natural mark as per the food regulations. As per regulation lauric aldehyde produced by biotechnology process from natural sources are named as the natural flavoring agent and they further propel the product growth during the forecast period.
The major restraint in the global lauric aldehyde market implies to be the shortage of additive and high cost associated with. The variation in prices, EPA guidelines on end-use concentration are also limiting the market from growing. Rising importance of natural products and natural food may restrict market growth.
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Key Players
Fleurchem
Indukern
Penta International
AlliChem
SRS Aromatics
Vigon international.
Astier Demarest
Metadynea
Kalpsutra chemicals Pvt. Ltd
Lermond Company
Alfa Chemistry
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