Anisole Market Based on volume, Pharmaceuticals segment will exhibit growth with a CAGR of around 4.4%. The product is extensively used as a chemical intermediate in manufacturing of bulk pharmaceuticals like Dextromethorphan, Raloxifene and substrates of expectorant and antiseptics etc. By 2024, cosmetics industry will account for around a third of the global anisole market. Increasing population coupled with advanced living standards has significantly upsurge the production of perfumes and fragrances products. This trend is projected to boost the overall industry growth during the forecast spell.
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Today however, the pharma sector has witnessed considerable incline across the developed as well as developing economies, thereby making the domain a lucrative growth avenue for the global anisole market. driven by the fact that the product serves as a crucial precursor in producing a plethora of pharma compounds. For instance, 4-methoxyphenol, a phenol derived from anisole is used to create 4-methoxyphenol – a chemical used in manufacturing of bulk pharmaceuticals like Raloxifene and Dextromethorphan.
The U.S. pharmaceutical sector has been the most flourishing domestic market for the development and commercialization of different pharmaceuticals. According to a report by PricewaterhouseCoopers (PwC), primary pharmaceutical markets such as Europe, North America and Japan had been under considerable pressure a decade back, having experienced a slowdown in growth.
Givaudan, a Swiss manufacturer of flavors, fragrances, and active cosmetic ingredients, had informed in 2017 that India, Singapore, Thailand and Philippines had given double-digit growth in sales revenue where China anisole market showing improved performance in the later half. This demonstrates existing prospects for the methoxybenzene industry in APAC for complementing the enhanced fragrance and cosmetic market. L’Oréal, the worlds biggest cosmetics brand, had indicated that in 2017, the key factors driving the cosmetics segment were the demand for better and premium products, the reach of social media and the continuous increase in sale of beauty products online. Experts confirm that the APAC regions is the largest generator of ecommerce sales of beauty and personal care products, exhibiting a 25% CAGR from 2010 to 2015. As such, the consistent rise in online availability of products will deliver higher consumption rates for cosmetics, while significantly reinforcing the anisole market.
Extremely successful seasonal market strategies have characterized the APAC cosmetics industry, as they bring a reason for consumers to spend additionally on premium products. Statistics affirm that regions like Southeast Asia experienced the highest percentage of ecommerce sales, about 40%, in the months of October, November and December. The figure represents the overall potential for the sale of cosmetic and other beauty products, along with a promising environment for the anisole market in APAC. The influx of foreign capital in economies such as China and India is expected to drive the growth of retail and ecommerce in APAC and strengthen the purchasing power of APAC citizens, gradually increasing the penchant for premium or luxury cosmetics. APAC accounts for around 30% of the overall industry share.
All in all, an upward shift in the consumption of premium, imported personal care products and augment consumer expenditure predicted for the imminent future will propel the overall methoxybenzene market share in the ensuing years. Companies like Merck, Westman Chemicals, Solvay SA and Huaian Depon Chemical Co. are some prominent names comprising the competitive hierarchy of the anisole market.
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Chapter 5. Anisole Market, By Application
5.1. Methoxybenzene industry share by application, 2016 & 2024
5.2.1. anisole market estimates and forecast, 2013 – 2024
5.2.2. Market estimates and forecast by region, 2013 – 2024
5.3.1. Market estimates and forecast, 2013 – 2024
5.3.2. anisole market estimates and forecast by region, 2013 – 2024
5.4.1. Market estimates and forecast, 2013 – 2024
5.4.2. Market estimates and forecast by region, 2013 – 2024
5.5.1. Market estimates and forecast, 2013 – 2024
5.5.2. anisole market estimates and forecast by region, 2013 – 2024
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