Market Size of Phenethyl Alcohol Industry
| 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.
