The global anisole market size is expected to reach USD 96.3 million by 2030, according to a new study by Polaris Market Research. The report “Anisole Market Share, Size, Trends, Industry Analysis Report, By Purity (Up To 99.5%, Above 99.5%); By Application (Pharmaceuticals, Cosmetics, Food & Beverages, Perfumes, Pesticides and Insecticides, Others), By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Prime factors responsible for the industry growth include population growth, disposable income, increased use of cosmetics, growth of the pharmaceutical sector, rise in demand for perfumes, improved trade relation between countries, and favorable government initiatives. The chemical sector is a crucial part of the country's economy. Hence, governments of several developing countries are providing funding and taking several initiatives to strengthen this sector.
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Moreover, owing to the rise in disposable income across the globe, consumer spending on various cosmetics and pharmaceutical products is rising at a rapid pace. And this trend is expected to surge during the forecast period. Anisole plays an important role in the development of cosmetics and pharmaceuticals. Hence, this factor is estimated to have a positive impact on the growth of the industry.
The cosmetics industry has grown at a rapid pace in the last decade, thanks to an exponential increase in women's spending on hair care products and an upward trend in male grooming. The scope of male grooming products has expanded beyond deodorants and shaving gels due to rising demand. For example, between 2009 and 2016, the use of face-cleaning products among men in India surged by almost 60 times.
Presently, the male personal care sector is dominated by fairness creams and beard balms, as well as beard shampoos and conditioners. It plays an important role in the formulation of various cosmetics products.
Hence, the demand for the industry has increased in this sector, and this trend is anticipated to rise during the forecast period. Because of its unique chemical and physical features, methoxybenzene is increasingly being used in a variety of industrial sectors. Cosmetic, pharmaceutical, and food production enterprises are among the end-user industries.
Anisole Market Report Highlights
Polaris Market Research has segmented the anisole market report based on purity, application, and region:
Anisole, Purity Outlook (Revenue - USD Million, 2018 - 2030)
Anisole, Application Outlook (Revenue - USD Million, 2018 - 2030)
Anisole, Regional Outlook (Revenue - USD Million, 2018 - 2030)