According to the latest report by IMARC Group, titled "Isophytol Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global isophytol market reached a value of US$ 498.8 Million in 2021. Isophytol (C20H40O) refers to low dermal toxicity, volatile, clear, colorless, and vicious terpenoid alcohol. It is formulated by transition-metal-catalyzed addition of malonic ester to myrcene and consequent acidification. Isophytol is used with trimethylhydroquinone (TMHQ) in the condensation procedure for producing synthetic vitamin E, which comprises fat-soluble antioxidants beneficial for the skin. As a result, it is extensively incorporated as an intermediate in various personal care products, perfumes, shampoos, lotions, creams, soaps, fragrances, and other beauty commodities. Apart from this, isophytol is also utilized as a flavoring compound in dietary supplements and several functional food products, including sweeteners, processed soups, sauces, and meats.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Isophytol Market Trends:
With the substantial expansion in the food and beverage (F&B) sector, there has been increasing demand for processed ready-to-eat (RTE) and ready-to-drink (RTD) products, which has intensified the widespread adoption of isophytol as a flavoring agent. Additionally, the growing need for beauty care and cosmetic products has further augmented the utilization of isophytol to synthesize vitamin E that is added as an active component in these products, which acts as another growth-inducing factor. This can be further attributed to the aging population and escalating awareness amongst consumers regarding the benefits of vitamin E, such as enhanced skin texture and softened skin. In line with this, the extensive utilization of isophytol in various household cleaning and disinfection products to sanitize surfaces and add fragrance for covering unpleasant odors is contributing to the market growth. Moreover, isophytol is gaining traction across the healthcare sector to manufacture phytol, which assists in alleviating itching, reducing pain, and eliminating congenital disabilities. Apart from this, the strategic collaborations amongst key players and ongoing research and development (R&D) activities to identify diverse product usage are positively stimulating the market growth. On account of the aforementioned factors,the market is anticipated to reach a value of US$ 665.4 Million by 2027, growing at a CAGR of 5.21% during 2022-2027.
- Based on the fragrance type, the market has been segregated into flora, herbal and others.
- On the basis of the sales channels, the market has been bifurcated into online and offline.
- Based on the application, the market has been segmented into supplement, cosmetics and industrial.
- On a regional basis, the market has been segmented into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and Others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and Others), Latin America (Brazil, Mexico, and Others), and Middle East and Africa.
- The competitive landscape of the industry has also been examined, with some of the key players being Augustus Oils Ltd., BASF SE, Carbosynth Ltd, Haihang Industry Co. Ltd., Hefei TNJr Chemical Industry Co. Ltd., Merck KGaA, Molekula Group, Santa Cruz Biotechnology Inc., Thermo Fisher Scientific Inc., Tokyo Chemical Industry and Vigon International LLC (Azelis).
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