San Francisco, 28 February 2024: The Report Anisole Market Size, Share & Trends Analysis Report By Grade (Up To 99.5%, Above 99.5%), By Application (Perfumes, Pharmaceutical, Insect Pheromones, Others), By Region, And Segment Forecasts, 2023 - 2030

The global anisole market size is expected to reach USD 138.0 billion by 2030, expanding at a CAGR of 5.5% from 2023 to 2030, according to a new report by Grand View Research, Inc. Rapid industrialization coupled with growing use of these intermediate chemicals for production of various other products such as building polycarbonates, and detergents is expected to promote capacity expansion over the next seven years.

Various factors including rising disposable income coupled with increasing spending on personal care products including perfumes is expected to drive product’s need over the forecast period.

High need from various applications including perfumes on account of its pleasant aromatic odor and pharmaceutical sector owing to its tremendous use as an intermediate chemical will be favorable for global industry expansion.

Rising need for consumer products such as fragrances and flavors on account of changing consumer habits along with better living standards is expected to augment the product demand in emerging economies including India, China, and Brazil. However, raw material availability will challenge growth over the next seven years.

Owing to the increasing applications in various industries including cosmetics, pharmaceuticals, and food & beverages. Increasing disposable income along with growing consumption of perfumes will augment industry growth, particularly in the Asia Pacific. Furthermore, the increasing use of cosmetic grades in Latin America and the Middle East is expected to increase consumption over the forecast period. Growing demand for scents, creams, and various types of perfumes will propel industry penetration over the forecast period. Also, the growing pharmaceutical sector in Asia Pacific countries including India and China, and Latin America is expected to have a positive impact on the market.

The market for anisole is anticipated to witness an upsurge in demand during the forecast period, primarily driven by supportive regulations pertaining to its utilization in the production of pharmaceutical grades intended for both internal and external usage. Additionally, technological advancements focused on enhancing manufacturing processes to achieve higher grade yields and increased purity levels will positively impact the industry. However, the growth of the market may be hindered by challenges such as volatility and the availability of raw materials, which are expected to restrain market expansion in the coming seven years. Novel applications, such as the synthesis of cotarnine as a pharmaceutical, are expected to open up future avenues for market participants willing to expand their typical customer base and venture into new geographies.

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In March 2023, the increase in crude oil prices, coupled with the upward trend in benzene prices, resulted in higher prices for anisole. Benzene, being the key feedstock for anisole, directly impacts its supply in the global market as the prevailing market dynamics are determined by benzene prices. Anisole, which finds application in the production of perfumes, dyes, pesticides, and pharmaceutical products, is consequently affected by these price fluctuations.

Anisole Market Report Highlights

• The perfumes segment held the largest revenue share of 52.3% in 2022. Rising disposable income coupled with increasing penetration of players such as P&G and Reckitt Benckiser through new product launches in China and India is expected to promote cosmetics sector. This in turn will have a positive impact on the market over the forecast period. Furthermore, rapid urbanization, higher spending power and growing awareness regarding appearance and grooming in emerging economies is expected to propel perfume sector in the region thereby fuelling growth.
• Pharmaceuticals were the second largest segment. Prevalence of various companies including Johnson & Johnson, Pfizer and Merck & Co. along with high R&D expenditure in the U.S. and Mexico will propel product expansion.
• Europe is expected to witness high growth, Growing personal care products sector in Germany, Italy, France and UK is expected to have a positive impact over the forecast period. Introduction of new gender-specific products and technological developments is expected to drive need for personal care products. This in turn will augment demand over the next seven years.
• Asia Pacific is expected to witness fastest growth at a CAGR of 6.1% from 2023 to 2030. Growing popularity of various brands including Christian Dior, Chanel and Elizabeth Arden in developing countries is expected to augment demand over the next seven years. In addition, increasing need for men perfumes particularly in India and China is expected to propel industry over the forecast period.
• Global industry is fragmented on account of presence of numerous companies. These invest highly in R&D to introduce innovative products and employ various strategies including M&A and joint ventures to expand their presence. In March 2011, Camlin Fine Chemicals Ltd. signed an acquisition agreement for Borregaard Italy’s anisole facility.

The perfumes segment held the largest revenue share of 52.3% in 2022 as a result of high consumption owing to its unique properties. The robust manufacturing base of the cosmetic industry coupled with growing domestic demand in the U.S., China, Germany, Saudi Arabia, Italy, Mexico, Brazil, France, and the UK is expected to augment industry growth over the forecast period.

The pharmaceutical segment is expected to grow at a CAGR of 5.4% over the forecast period in light of high growth in China and India on account of favorable FDI policies. Moreover, growing domestic demand in developing countries due to increasing health awareness coupled with technological advancement is expected to further drive the pharmaceutical industry, contributing to market growth over the forecast period.

Recent Developments

• In July 2021, Clean Science and Technology secured funding of USD 57.9 million from 40 distinct investors. The company engages in the manufacturing of performance chemicals, pharmaceutical intermediates, anisole, and other chemicals. Customers rely on the company's products as essential starting-level inhibitors, components, or additives.

Anisole Market Report Scope

The market is fragmented with the presence of numerous players. Current manufacturers have been employing various technologies for manufacturing anisole including electrophilic aromatic bromination, acetylation, and acylation.

List of Key Players in Anisole Market

• Evonik Industries AG
• Atul Ltd
• Solvay
• Tokyo Chemical Industry Co., Ltd.
• SURYA LIFE SCIENCES LTD.
• Thermo Fisher Scientific
• Westman Chemicals Pvt. Ltd.
• Emmennar Pharma Pvt. Ltd.
• Benzo Chem Industries Pvt. Ltd.
• Merck KGaA
• Camlin Fine Sciences Ltd.