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Global 2-phenylethanol market share is fragmented owing to the presence of several medium & large number multinational industry players operating across the globe. Market players are adopting several strategies such as new products launch, capacity expansion, mergers, acquisitions, and collaborations to gain a competitive advantage and expand their foothold in the industry.
Some of the players in 2-Phenylethanol Market are:
In February 2021, Eternis Fine Chemicals acquired a UK-based Tennants Fine Chemicals company and its wholly owned subsidiaries in Singapore and China. This acquisition is expected to enhance the company’s product offerings, distribution network, and better serve customers around the globe with the increase in revenue.
In February 2021, Symrise AG company has upgraded its online platform. That includes ingredient Finder for flavor & fragrance raw materials. This upgradation in the online platform will enable customers to access the detailed information on fragrances, flavors, and pharmaceutical raw materials available on Ingredient Finder.
Natural 2-phenylethanol market share surpassed USD 130 million in 2021 and is anticipated to record a CAGR of 7% through 2028 considering the rising demand for natural ingredients from various industries such as cosmetics, food, and fragrance.
Global market for 2-phenylethanol exceeded USD 255 million in 2021 and is expected to expand at a CAGR of 5.5% from 2022 to 2028 driven by the surging demand for cosmetic products across the globe.
Asia Pacific market for 2-phenylethanol is slated to cross USD 140 million until 2028 owing to the soaring demand for functional drinks like health and energy drinks from the millennial population.
2-Phenylethanol industry share from cosmetic and personal care application is estimated to reach USD 120 million by 2028 impelled by the surging product deployment on account of multifunctional properties.