Coumarin Market Overview
According to latest research by Future Market Insights, coumarin market is set to witness steady expansion, growing at a CAGR of 5-7% during 2021-2031. Demand for the market is expected to witness lucrative growth in the coming assessment period. The market is expected to experience significant opportunities from the strong growth in demand for perfumery products.
What is Driving Demand for Coumarin?
Innovative of novel products in the field of personal care especially in cosmetics, skin care, hair care, and toiletries products has driven the overall growth of the global market and also expected to continue its dominance in the near future. Increasing demand for personal care & cosmetics products coupled with change in consumer preferences are some of the key driving factor for the growth of market.
Furthermore, Substantial technological advancements in cosmetics & personal care have also fuelled the growth of the market from last couple of years. Moreover, the positive growth in demand from the developing & emerging countries for fragrance owing to aesthetic appearance is likely to act as an opportunity for the manufacturers of coumarin market.
These factors are likely to drive the global coumarin market during the forecast period. Globally, manufacturers are expanding their global presence by tie up with regional players for the marketing of products on international level this initiative expected to create trend in the global market.
The market is characterized by the presence of large international key players, with strong distribution channel networks across the globe. The market comprises also of various regional and local market players. Furthermore, the presence of small players which are operating in the regional market leads to intense competition.
Cosmetics Sector to Enable Strong Market Growth
On the basis of application, perfumes and fragrance segment is estimated to hold more than half of the market share and is expected to continue its dominance in the near future owing to increasing demand from end use industries.
Based on grade, cosmetics segment expected to hold more than one third of market share followed by industrial segment. Increasing personal incomes in the developing world, and growing spending on personal care products will ensure substantial demand from cosmetics and personal care products.
US Coumarin Market Outlook
U.S. market is one of the mature markets owing to high per capita spending in the country on pharmaceuticals and personal care products which is expected to drive robust the market growth in the coming forecast period.
The country is expected to continue its dominance in the coming era owing to increasing investment of end users in personal care and pharmaceutical sector. Furthermore, in terms of volume and potential growth opportunities, the U.S. market is anticipated to be among the top three country markets in the world in the coming assessment period.
Europe Demand Outlook for Coumarin
Europe was the second-largest regional market for coumarin and is expected to expand at a significant CAGR during the coming assessment period. Europe market is becoming highly competitive due to presence of key competitors in the region. In addition to this, European players has built a key position in the manufacturing of coumarin, which is expected to spread a positive influence on the market in the coming forecast period.
The reason behind the substantial growth of in Europe region owing to increasing demand for personal care & cosmetics. Also, regional government has been taking initiative to promote growth for personal care & cosmetics industry, this activity and is anticipated to gain traction in the near future, which in turn is expected to drive the regional market.
Who are the Key Manufacturers and Suppliers of Coumarin?
Some of the leading manufacturers of coumarin market includes
- Atlas Fine Chemicals
- Omkar Speciality Chemicals
- Eternis Fine Chemicals
- Yingyang Flavors & Fragrance
- Anhui Jinpeng Flavours & Fragrances
- China Tuhsu
- Changzhou XinTongLi Chemicals
- Wuhan Sincere-star Chemical
- Saichuang Technolgy
- Botai (Tianjin) Fine Chemical
- ZhangJiagang FeiHang Industry
Globally, key players has been focusing on sustainable development to increase market share and leadership in the market by focusing on carbon emission footprint, environmental impact, safety over lifecycle and reducing energy use and simultaneously increasing product yield are some of the key strategies adopted by key players. Also, key players are investing in research & development to innovative other application areas of coumarin.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Key Segments of Coumarin Market
- Perfumery & Fragrance
- Active Pharma Ingredients (API)
- Electroplating & Coating
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- Rest of Europe
- East Asia
- South Korea
- South Asia Pacific
- Rest of South Asia Pacific
- Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Rest of MEA