Phenethyl Alcohol Market Size
| Study Period | 2019-2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 183 Million |
| Market Size (2029) | USD 237.70 Million |
| CAGR (2024 - 2029) | 5.37 % |
| Market Concentration | Low |
Major Players.webp){kind=logo}
*Disclaimer: Major Players sorted in no particular order |
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Phenethyl Alcohol Market Analysis
The Phenethyl Alcohol Market size is estimated at USD 183 million in 2024, and is expected to reach USD 237.70 million by 2029, growing at a CAGR of 5.37% during the forecast period (2024-2029).
Phenylethyl or phenethyl alcohol is a colorless, naturally derived ingredient used in perfumes, soaps, and cosmetics. The rising demand for personal care and cosmetic products, particularly among young consumers, drives the demand for Phenylethyl alcohol. The simple accessibility of these cosmetic items through various sales channels, with the increased emphasis on personal grooming, aided the sales value. Besides, phenethyl alcohol is an approved pharmaceutical and supplement ingredient formulation used as an antifungal preservative in nasal, ophthalmic, and optic formulations. Phenethyl alcohol is also used in the food and beverages industry as an organoleptic additive in the final product. The prominent players in the market are adopting innovative strategies to increase their geographical reach and market share. For instance, in October 2022, Actylis invested USD 450 thousand to expand its research and development capabilities in Manchester. The purpose of this expansion was to improve the company's product portfolio.
Phenethyl Alcohol Market Trends
Phenethyl Alcohol is Extensively Used in Fragrances
The rise in demand for eco-friendly, natural, and custom-made perfumes and higher living standards are key factors driving market growth. Moreover, continued product innovations, increased product advertisement across various social media platforms, and increased demand for air fresheners such as aerosol sprays, room fresheners, and car air fresheners are expected to stimulate market growth. The consumption of personal care items such as soaps and detergents and the rise in knowledge of harmful effects of chemicals on the skin also influence demand for natural and bio-based fragrance ingredients since the natural 2-phenyl ethanol is mainly extracted from rose petals, a natural source for the fragrance ingredient.
The United States Is The Biggest Consumer Market For Phenethyl Alcohol
Phenethyl alcohol has a mild yet long-lasting scent profile, making it ideal for formulating calming essential oil blends. Moreover, Americans are turning towards essential oils due to their perceived health benefits, such as relieving headaches or migraines, supporting the demand for phenethyl alcohol ingredients for preparing aromatherapy products in the country. The fragrance industry is witnessing growth in the United States, driven by consumer preferences for diverse and unique scents or fragrances. For instance, according to the Bureau of Labor Statistics, the average annual expenditure on perfumes, cosmetics, and bath preparation products per consumer unit in the United States amounted to USD 211.82 in 2022, which increased from USD 182.29 in 2021. In addition, the rising spending on makeup products is anticipated to fuel the demand for phenethyl alcohol in the cosmetic industry. In 2023, according to Digital Commerce 360, the survey revealed that 10% of United States consumers purchase beauty products online daily. While 8% of consumers buy a few times a day, 13% purchase them weekly, 16% purchase them several times a month, 23% monthly, and 26% a few times a year.
Phenethyl Alcohol Industry Overview
The Phenethyl Alcohol market is highly competitive, with the presence of several regional and global players. The major players in the market are indulging in strategies, such as product launches, mergers and acquisitions, expansions, and partnerships, to establish a strong consumer base and esteemed position in the global market. The major players in the market include Koninklijke DSM NV, Evonik Industries AG, Yinghai (Cangzhou) Aroma Chemical Company Ltd., Harmony Organics, and KDAC CHEM PVT. LTD.
Phenethyl Alcohol Market Leaders
Evonik Industries AG
Koninklijke DSM NV
Yinghai (Cangzhou) Aroma Chemical Company Ltd
Harmony Organics Private Ltd
KDAC Pvt. Ltd
*Disclaimer: Major Players sorted in no particular order
Phenethyl Alcohol Market News
- August 2023: Kunshan Odowell Co Ltd expanded its production facility in Shandong. The first stage project of the Shandong production unit covers 260,000 square meters with a total design production capacity of 270,000 tons of chemicals.
- May 2023: DSM and Firmenich International SA merged to create DSM-Firmenich AG, an industry leader in flavors, fragrances, and nutritional ingredients.
- February 2023: Actylis opened a new cGMP facility in Eugene, United States. The size of this facility is 30,000 sqft. The plant focuses on testing and manufacturing APIs and excipients.
Phenethyl Alcohol Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.1.1 Wide Applications and Functionality
4.1.2 Low Price and Easy Availability of Synthetic Phenethyl Alcohol
4.2 Market Restraints
4.2.1 Availability of Substitutes
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Category
5.1.1 Natural
5.1.2 Synthetic
5.2 Application
5.2.1 Food and Beverages
5.2.2 Cosmetics/Personal Care
5.2.3 Fragrance
5.2.4 Pharmaceutical
5.3 Geography
5.3.1 Global
5.3.2 United States
5.3.3 Germany
5.3.4 United Kingdom
5.3.5 France
5.3.6 Italy
5.3.7 China
5.3.8 India
5.3.9 Japan
5.3.10 Brazil
6. COMPETITIVE LANDSCAPE
6.1 Strategies Adopted by Leading Players
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Kunshan Odowell
6.3.2 Xiamen Huaqiangda Biotechnology Co
6.3.3 Actylis
6.3.4 Koninklijke DSM NV
6.3.5 Yinghai (Cangzhou) Aroma Chemical Company Ltd
6.3.6 Harmony Organics Private Ltd
6.3.7 Evonik Industries AG
6.3.8 Hefei TNJ Chemical Industry Co. Ltd
6.3.9 Evident Ingredients
6.3.10 Foreverest Resources Ltd
- *List Not Exhaustive
7. ABOUT US
Phenethyl Alcohol Industry Segmentation
Phenethyl Alcohol is an organic compound and colorless liquid with a floral-rose odor. The compound is often used to produce perfumes and as a flavoring agent in food products. The Phenethyl Alcohol Market is Segmented by Category (Natural and Synthetic), Application (Food and Beverages, Cosmetics/Personal Care, Fragrance, and Pharmaceutical), and Geography (Global, United States, Germany, United Kingdom, France, Italy, China, India, Japan, and Brazil). The market sizing has been done in value terms in USD for all the abovementioned segments.
| Category | |
| Natural | |
| Synthetic |
| Application | |
| Food and Beverages | |
| Cosmetics/Personal Care | |
| Fragrance | |
| Pharmaceutical |
| Geography | |
| Global | |
| United States | |
| Germany | |
| United Kingdom | |
| France | |
| Italy | |
| China | |
| India | |
| Japan | |
| Brazil |
Phenethyl Alcohol Market Research FAQs
How big is the Phenethyl Alcohol Market?
The Phenethyl Alcohol Market size is expected to reach USD 183 million in 2024 and grow at a CAGR of 5.37% to reach USD 237.70 million by 2029.
What is the current Phenethyl Alcohol Market size?
In 2024, the Phenethyl Alcohol Market size is expected to reach USD 183 million.
Who are the key players in Phenethyl Alcohol Market?
Evonik Industries AG, Koninklijke DSM NV, Yinghai (Cangzhou) Aroma Chemical Company Ltd, Harmony Organics Private Ltd and KDAC Pvt. Ltd are the major companies operating in the Phenethyl Alcohol Market.
What years does this Phenethyl Alcohol Market cover, and what was the market size in 2023?
In 2023, the Phenethyl Alcohol Market size was estimated at USD 173.17 million. The report covers the Phenethyl Alcohol Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Phenethyl Alcohol Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Phenethyl Alcohol Industry Report
Statistics for the 2024 Phenethyl Alcohol market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Phenethyl Alcohol analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
