Benzenoid Market by Type (Benzyl Acetate, Benzoate, Chloride, Salicylate, Benzaldehyde, Cinnamyl, and Vanillin), Application (Soaps and Detergents, Personal Care, Food and Beverage, and Household Care), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2022-2031

Global Benzenoid Market Analysis

The Global Benzenoid Market Size was $764.4 million in 2021 and is predicted to grow with a CAGR of 5.8%, by generating a revenue of $1,333.1 million by 2031.

Global Benzenoid Market Synopsis

The growing popularity of benzenoid can be attributed to its use across the flavor and fragrance, and aroma chemicals industry. Benzenoid, also known as aromatic hydrocarbon, is widely used in consumer goods products such as hair oils, detergents, perfumes, fine fragrances, beverage, confectionaries, and others. Benzenoid is used as an industrial fragrance compound, flavor compound, and has other related uses.

Synthetic chemicals are toxic to humans as they can pose health risk which is estimated to hamper the benzenoid market size in the upcoming years. Some of the research studies hint that exposure to benzenoid can increase the risk of cancer. Also, benzenoid is flammable and toxic.

Rapid growth in the aroma industry owing to the rise in the retail sector and ease of availability of various products such as detergents, soaps, cosmetics, fragrances, and other products is estimated to boost the benzenoid market demand in the upcoming years. Benzenoid is used to mask, mimic, or maximize taste or smell owing to which it is used in fragrance, pharmaceutical, and cooking sector. These factors are projected to boost the benzenoid market share during the projected timeframe.

According to regional analysis, the Asia-Pacific benzenoid market accounted for the highest market share for benzenoid owing to the growing self-awareness regarding haircare, personal hygiene, skincare, personal care, and usage of cosmetic products. Also, China is one of the leading exporters of specialty chemicals including aroma chemicals.

Benzenoid Market Overview

Benzenoid are a class of chemical compounds with the presence of at least one benzene ring. They are also known as aromatic hydrocarbons. Also, most of the aromatic hydrocarbons are benzenoids such as trans-bicalicene, cyclooctadecanonaene, and azulene. These benzenoid aromatic compounds contain at least one benzene rings in their chemical structure. Some of the widely used benzenoids include nitrobenzene, phenol, toluene, aniline, and others.

COVID-19 Impact on the Global Benzenoid Market

The uncertainties caused by the onset of the COVID-19 pandemic across the globe did not have a major impact on the benzenoid market growth. This is majorly owing to stable demand from personal care, flavor & fragrance, and other sectors. Additionally, the demand for benzenoid from healthcare & pharmaceutical sector has increased rapidly during the pandemic. This is because during the COVID-19 pandemic, the demand for soaps and detergents has increased rapidly owing to their ability to reduce the risk of infection from the coronavirus. The soaps and detergent producers were able to continue their business owing to regulations given by the government of several countries. However, some impact was seen on the supply chain of benzenoid owing to delay in import-export transport and movement of goods. Majority of the specialty chemicals used in personal and household care are imported from China. However, China faced huge impact on import-export being the epicenter of the COVID-19 disease.

Increase in Demand for Beauty & Personal Care Products To Drive the Market Demand

The beauty & personal care industry is expanding rapidly owing to growing awareness regarding health & wellbeing. Aroma plays a major role in driving demand for various beauty & personal care products such as soaps, creams, lotions, and others. The pleasant smell of beauty & personal care products masks the inherent smell of some ingredients. Benzenoid is widely used as an aromatic compound in beauty & personal care products that creates a positive brand image of any product. Also, some fragrance oils and essential oils contain benzenoid and its derivates that have a positive impact on the psyche. These factors are anticipated to propel the benzenoid market opportunity in the upcoming years.

To know more about global benzenoid market drivers, get in touch with our analysts here.

Health concerns linked with the use of synthetic chemicals to restrain the market growth

The use of synthetic chemicals such as toluene, paraben, phthalates, artificial fragrances, oxybenzone, and others is linked with carcinogenicity and genotoxicity. Hence, to determine the safety of chemical use the companies that manufacture perfumes and fragrance oils produce their own proprietary blends. Also, some of the cosmetic and personal care products use heavy metals such as mercury, arsenic, cadmium, and others. As these substances accumulate in our body, they may cause health risk. These factors are estimated to restrain the market growth during the forecast period.

Advancements in fragrance industry to generate huge opportunities

New consumer trends and advancements such as genderless scents or gender-neutral products for beauty and cosmetics industry is estimated to generate excellent growth opportunities. For instance, to meet the consumer demand, the perfume manufacturers are formulating unisex fragrances to blur the lines between female and male scents. This has carved out the space for customizable products. Also, nowadays many customers can purchase the fragrance kits to match their own scents. In addition, growing demand for natural and clean label products such as formulating the flavors and scents using more natural ingredients is estimated to drive excellent opportunities. For instance, the demand for natural perfume is high as it creates a unique scent, can last long, and helps you in staying energetic & fresh throughout the day. In addition, premix manufacturing to produce market-ready flavor blends such as dry and liquid premixes tailored to meet specific applications is becoming popular. For instance, these premixes are formulated to ensure stability, eliminate undesirable odors, and tolerate heat to avoid potential shelf-life loss.

To know more about global benzenoid market opportunities, get in touch with our analysts here.

Global Benzenoid Market, By Type

Based on type, the market has been divided into benzyl acetate, benzoate, chloride, salicylate, benzaldehyde, cinnamyl, and vanillin. Out of these, the benzoate sub-segment accounted for the highest market size in 2021 and it is estimated to show the fastest growth during the forecast period.

Global Benzenoid Market Share, By Type, 2021

Source: Research Dive Analysis

The benzoate type accounted for the highest market size during the 2021. Benzoate is an organic compound which is used as insect repellent and medication. For instance, in medication it is used to treat lice and scabies. It is applied to the skin as lotion. This chemical is absorbed by mites and lice and destroys them by acting on their nervous system. However, overdose can lead to hives, blistering or a rash can occur causing an allergic reaction. Benzoate is one of the popular aroma chemicals which also occurs naturally in some flower blossoms. However, in fragrance sector this chemical is used to add a balsamic smell to the product. Also, it can be added as a solvent with other fragrances to help them dissolve into a mixture. These factors are anticipated to boost the growth of benzoate sub-segment during the forecast period.

Global Benzenoid Market, by Application

Based on application, the analysis has been divided into soaps and detergents, personal care, food and beverage, and household care. The soaps and detergents sub-segment accounted for the dominant market share and is estimated to show the fastest growth in the global market.

 Global Benzenoid Market Size, by Application

Source: Research Dive Analysis

The soaps and detergents sub-segment of the global benzenoid market is anticipated to have fastest growth during the forecast period. Benzenoid is widely used for the manufacturing of soaps & detergents which is the powerful propeller of the product success. It is used to impart a pleasant smell to soaps and detergents as well as to mask the odor of base formula. Fragrances of different soaps and detergents can spark the user’s imagination and inspire fun or seductive mood. Also, the use of benzenoid in soaps & detergents can induce emotional or psychological effects as well as it can boost the functional & quality perception of a product.

The food and beverage sub-segment of the global benzenoid market is anticipated to show significant growth during the analysis timeframe. Benzenoid plays an important role in food & beverage sector which is largely used to impart flavor and fragrance to various food and beverages. For instance, flavor is the sensory impression of food or other substance which is determined by chemical senses of taste or smell. Aroma chemicals such as benzenoid is used to impart food flavors. Humans have only five basic tastes that are universally recognized, however, the number of food flavors are unbounded. In addition, growing demand for processed foods and natural ingredients is estimated to drive the market growth.

Global Benzenoid Market, Regional Insights

The benzenoid market analysis was investigated across North America, Europe, Asia-Pacific, and LAMEA.

Global Benzenoid Market Size & Forecast, by Region, 2021-2031 (USD Million)

Source: Research Dive Analysis

The Market for Benzenoid in Asia-Pacific to be the Most Dominant

Asia-Pacific benzenoid market demand is driven by growing self-awareness regarding personal hygiene that has led to increase in demand for skincare, haircare, personal care, and cosmetic products. In addition, growth of retail sector in emerging economies such as India along with the growth of e-commerce platforms has eased the availability of cosmetics, soap, detergents, fragrance, and other products. Also, China is the largest exporter of specialty chemicals including aroma chemicals to the European countries and other Asian countries. Benzenoid is a widely used aroma chemical for the manufacturing of essential oils, wine, food, fragrance oil, spices, perfumes, and other products.

Rise in disposable income and increased spending on cosmetics and personal care products such as soaps, detergents, sanitizers, perfumes, and others have increased the demand for benzenoid. Flavor and fragrance play a major role in personal care products as they create strong sensorial impact and contribute toward positive or negative brand recall. In addition, Asia is the second largest market for cosmetics after Europe. Some of the popular cosmetics and personal care products consumed in this region include hair care, skin care, sun care, color cosmetics, fragrances, deodorants, and others.  

Competitive Scenario in the Global Benzenoid Market

Product launch, business expansions, and partnership are common strategies followed by major market players. For instance, in December 2021, Firmenich, the leading taste and fragrance company announced a partnership with Jungle, the French startup company to drive sustainable innovation and leadership in natural ingredients.

Source: Research Dive Analysis

Some of the leading benzenoid market players are Jayshree Aromatics Pvt. Ltd., BASF SE, Firmenich SA, LANXESS, International Flavors & Fragrances, Inc., Valtris Specialty Chemicals, Eternis Fine Chemicals Ltd., Symrise AG, Sensient Technologies Corporation, and Givaudan.