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
- Up to 99.5% segment is anticipated to witness fastest growth over the forecast period as less pure anisole has high demand from end use industries such as cosmetic, food & beverages, pharmaceutical etc.
- Among different types of applications, the pharmaceutical segment accounted for the largest share owing to increasing consumer spending on pharmaceutical products. Prescription drug spending has increased by USD 95 billion between 2010 and 2020 in the United States.
- Asia-Pacific is expected to grow at a highest revenue share over the projected period on account of favorable government initiatives towards chemical sector. Also, According to a research released by the US Department of Commerce, Asian countries have seen an increase in per capita cosmetics spending in the last five years.
- The global market is highly competitive owing to the existence of large industry players with global presence including Solvay, Merck & Co., Inc., Westman Chemicals Pvt. Ltd., Emmennar Chem and others.
Polaris Market Research has segmented the anisole market report based on purity, application, and region:
Anisole, Purity Outlook (Revenue – USD Million, 2018 – 2030)
- Up To 99.5%
- Above 99.5%
Anisole, Application Outlook (Revenue – USD Million, 2018 – 2030)
- Food & Beverages
- Pesticides and Insecticides
- Other Application
Anisole, Regional Outlook (Revenue – USD Million, 2018 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa