(MENAFN- EIN Presswire) Isophytol Market Size to Reach $629.5 Million by 2028 | CAGR: 3.8%: AMR
PORTLAND, OREGON, UNITED STATES, April 12, 2024 /EINPresswire / -- According to Allied Market Research's report, the global isophytol market generated $470.4 million in 2020 and is projected to reach $629.5 million by 2028, with a CAGR of 3.8% from 2021 to 2028.
The growth of the global isophytol market is attributed to various factors such as the rising demand for personal care products, increasing use of vitamin E in nutrition, and a surge in e-commerce activities. However, consumer preference for natural vitamin E over synthetic vitamin E poses a challenge to market growth. Nonetheless, the market is expected to witness new opportunities driven by high growth potential in emerging economies.
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Isophytol, a clear colorless liquid also known as 3,7,11,15-Tetramethyl-1-hexadecen-3-ol, finds applications in perfumery, food flavors, cosmetics, soap detergents, and the fragrance industry. The significant demand for personal care products, particularly in skincare and hair care, along with the growth of medicated personal care and vitamin supplements containing Vitamin E and K, has fueled the overall market growth.
The primary objective of isophytol is to expand its presence in the perfume and deodorant market, driven by new product lines and an engaged youth consumer base. Synthetic chemicals, which have improved significantly due to biotechnological developments, are used in these scents. However, concerns about the toxicity of synthetic chemicals in toiletry products have hindered market growth.
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The report segments the global isophytol market based on fragrance, application, and region. In terms of fragrance, the herbal segment dominated the market in 2020, while the floral segment is expected to witness the highest CAGR during the forecast period.
Regarding applications, the supplements segment led the market in 2020, but the industrial segment is projected to exhibit the highest CAGR from 2021 to 2028.
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Regionally, Asia-Pacific accounted for the largest market share in 2020 and is anticipated to register the highest CAGR from 2021 to 2028.
Key players in the global isophytol market include Augustus Oils Ltd., Antylia Scientific, BiosynthCarbosynth, BASF SE, Hefei TNJ Chemical Industry Co. Ltd., Haihang Industry, Molekula Group, Merck KGaA, Tokyo Chemical Industry, Santa Cruz Biotechnology, Inc., Vigon International, Inc., and Thermo Fisher Scientific.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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