Rise in demand for personal care products, increase in use of vitamin E in nutrition, and surge in e-commerce activities drive the growth of the global isophytol market. The market across Asia-Pacific held the lion’s share in 2020, accounting for more than one-third of the market. The demand-supply gap, price volatility, and disruption in raw materials hampered the growth of the isophytol market during the pandemic.
Portland, OR, July 22, 2021 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global isophytol market generated $470.4 million in 2020, and is anticipated to garner $629.5 million by 2028, registering a CAGR of 3.8% from 2021 to 2028.
Rise in demand for personal care products, increase in use of vitamin E in nutrition, and surge in e-commerce activities drive the growth of the global isophytol market. However, consumer preference toward natural vitamin E over synthetic vitamin E hinders the market growth. On the contrary, high growth potential from emerging economies is expected to open new opportunities for the market players in the future.
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Several countries suffered economically during the Covid-19 pandemic due to halt of manufacturing industries and disruption of transport and supply chain. The Covid-19 pandemic negatively affected the manufacturing industries.
The demand-supply gap, price volatility, and disruption in raw materials hampered the growth of the isophytol market during the pandemic.
However, the demand for isophytol increased during the pandemic due to sudden increase in the need for personal care products.
The report segments the global isophytol market on the basis of fragrance, application, and region.
Based on fragrance, the herbal segment held the largest share in 2020, accounting for more than half of the market. However, the floral segment is estimated to register the highest CAGR of 3.4% during the forecast period.
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On the basis of application, the supplements segment dominated the market in terms of revenue in 2020, contributing to around four-fifths of the market. However, the industrial segment is projected to portray the highest CAGR of 11.1% from 2021 to 2028.
The global isophytol market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific held the lion’s share in 2020, accounting for more than one-third of the market. In addition, the region is expected to register the highest CAGR of 4.6% from 2021 to 2028.
The global isophytol market report includes an in-depth analysis of the prime market players such as Augustus Oils Ltd., Antylia Scientific, BiosynthCarbosynth, BASF SE, Hefei TNJ Chemical Industry Co. Ltd., Haihang Industry, Molekula Group, Merck KGaA, Tokyo Chemical Industry, Santa Cruz Biotechnology, Inc., Vigon International, Inc., and Thermo Fisher Scientific.
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