Anisole Derivatives Market: Overview
Anisole derivatives are found in artificial and natural fragrances. Anisole derivatives such as (2-methoxyethyl) benzene, 1,2-Dimethoxy-4-(prop-1-enyl)-benzene, 4-methylanisole and 1,4-Dimethoxy-benzene are the most prominent anisole derivatives in the market. Anisole derivatives are extensively used as key ingredients in manufacturing of fragrances, air care, biocides and bundle of other products. In the past half-decade, demand of anisole derivatives has substantially risen on the back of the rise of specialty foods and non-specialty food market. Usage of anisole derivatives in food is limited in regions such as Europe and North America owing to the stringent regulations. While on the other hand, surge in demand from the South Asia & Oceania and East Asia regions has been observed over the historical assessed period of (2015-2019).
Gradually anisole derivatives are being integrated into European market owing to the results of safe usage of certain anisole derivatives. Market penetration of anisole derivatives is dependent on consumer inclination towards a certain fragrance and taste of the product. Apart from the core applications of anisole derivatives, a few mentionable niche applications such as biocides have also portrayed an image of growing demand requisite over the historical period of 2015-2019. Furthermore, on the product life cycle graph, anisole derivatives are on the growing side, which provides enormous opportunities for the stakeholders to explore the anisole derivatives market.
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Demand Spike from Fragrance Industry is set to Provide Thrust the Market
Of the two major applications of anisole derivatives, flavoring and fragrance applications anisole derivatives market. Flavoring industry captures more than half of the global anisole derivatives market, thus dominating the anisole derivatives market. While fragrance applications are growing at a fast pace owing to the rise in research & development regarding anisole derivatives applications in fragrance.
COVID-19 to boost the Anisole derivatives Market
COVID-19 has not only shattered the movement of the people but also the production and trade of the major products in the market. With the complete contraction of demand and supply of fragrance products in current quarter i.e., 2rd quarter of CY2020, the effect has cascaded to the anisole derivatives market. Other macro-economic factors post-COVID-19 such as consumer spending and recession are set to impact the anisole derivatives market in long-run.
Segmentation analysis of Anisole derivatives Market:
The global anisole derivatives market is bifurcated into four major segments: Derivatives, product type, form, application, and region.
On the basis of derivatives, Anisole derivatives market has been segmented as follows:
- 2-Methoxyethyl benzene
- 4- Methoxyphenol
- 2-(3-methoxy-4,5-methylenedioxyphenyl)ethyl alcohol
On the basis of product type, Anisole derivatives market has been segmented as follows:
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On the basis of form, Anisole derivatives market has been segmented as follows:
On the basis of Application, Anisole derivatives market has been segmented as follows:
- Specialty Foods
- Non-Specialty Foods
- Pharmaceutical Intermediates
- Air Care
On the basis of geographic regions, Anisole derivatives market is segmented as
- North America
- Latin America
- East Asia
- South Asia
- Middle East & Africa
Anisole Derivatives Market: Regional Outlook
From regional perspective, East Asia holds for largest market share in global anisole derivatives market. Extensive application of anisole derivatives have been observed in the past half-decade in this region. Furthermore, increase in demand of food products in the period of 2015-2019 has drastically provided a thrust to the anisole derivatives market. Expansion of demand of anisole derivatives over the assessed historical period could be observed. Of the countries in the region such as Japan, China and South Korea, China has dominated the regional share as well as the global anisole derivatives market share. While Japan has projected to be the fastest growing country in the region. These factors provided an opportunity for the regional players to expand at global level. South Asia and Oceania followed by East Asia is set to grow at a nominal pace over the forecast period. North America and Europe are gradually adopting the anisole derivatives, post-stringent tests over health impact and long-run physiological issues. These regions are set to grow at a faster pace over the assessed forecast period.
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