Benzenoid Market Projected to Garner Significant Revenues by 2025

The report "Benzenoid Market by Type (Benzyl Acetate, Benzoate, Chloride, Salicylate, Benzaldehyde, Cinnamyl, Vanillin), Application (Soaps & Detergents, Food & Beverage, Household Products), and Region – Global forecast to 2025", size is estimated to be USD 651 million in 2020 and is projected to reach USD 857 million by 2025, at a CAGR of 5.6% during the forecast period. The market is being strongly driven by soaps & detergents industry, which is witnesses a high demand. With newer premium products coming up in the market and unique fragrance blends, their demand is projected to grow in the market in the near future.

Report Objectives:

• To describe and forecast the benzenoid chemicals market, in terms of type, application, and region
• To describe and forecast the benzenoid chemicals market, in terms of value and volume, by region-Asia Pacific, Europe, North America, South America and Middle East & Africa-along with their respective countries
• To provide detailed information regarding the major factors influencing the market growth (drivers, restraints, opportunities, and challenges)
• To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
• To study the complete value chain of benzenoid chemicals market.
• To analyze opportunities in the market for stakeholders by identifying the high-growth segments of the benzenoid chemicals market

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Benzenoid Chemicals Market Dynamics

Driver: Shifting flavor & fragrance trends and preferences amongst populations globally

The global choices and preferences related to taste and aromas are changing rapidly with changing marketing trends, mindsets and increasing expenditure on lifestyle. As per the 2018 report of “Innova Market Insights” 64% of US consumers state that they “love to discover flavors from other cultures,” Dull flavors are being reinvented and more retail products and restaurants are highlighting ethnic flavors or street flavors. Unique scents and attractive designs have pushed the home fragrance market to its strongest position yet. While over the years traditionally rooted fragrances like jasmine and sandalwood have had a distinct contribution, especially for soaps, a combination of fruity-floral fragrances are now gaining traction with marketers wooing younger consumers.

Restraint: Potential health risks of synthetic chemicals affecting production growth

The genotoxicity and carcinogenicity are the key factors that are taken into consideration to determine the safety of the chemical use. Companies that manufacture perfume or cologne purchase fragrance mixtures from fragrance houses to develop their own proprietary blends. Benzenoids as food additives and fragrance ingredients are regulated as some of them pose potential risks to human health at defined concentrations. Organisation such as US FDA (US Food & Drug Administration), EU Commission, IFRA (International Fragrance Association) set standards and guideline for manufacturers in order to control the possible health risks due to overuse of aroma chemicals in food and fragrance products.

The benzyl benzoate sub-segment is estimated to account for the fastest growth in the by type segment for Benzenoid Chemicals market.

Benzyl benzoate is naturally found in cinnamon, apricots, honey cocoa, cloves, cranberries jasmine, and mushrooms. RIFM (Research Institute for Fragrance Materials) has identified the compounds as a very weak skin sensitizer and IFRA (International Fragrance Association) has set standards for acceptable concentrations of benzyl benzoate that can be used in variety of consumer goods. It serves a supporting role, helping to dissolve and blend together all the different scent substances.

By Application, the soaps & detergents sub-segment is estimated to observe the fastest growth in Benzenoid Chemicals market.

The aroma in soaps and detergent products is bought about by the use many natural and synthetic compounds. The generally used natural compounds include oregano oil, lemon oil, coconut oil, camellia oil, and coffee essential oil amongst others. During the spread of coronavirus pandemic, the significance of soaps and detergents for hygiene purposes grew tremendously giving a boost to the sales of the industry. With organizations such as American Centers for Disease Control and Prevention (CDC), promoting hand hygiene through use of soaps and clean running water the market grew faster in the pandemic time.

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Asia Pacific is estimated to be the largest market.

The Asia Pacific region is estimated to account for the largest share of the global benzenoids market in 2020. The rising income, purchasing power, rapid growth of the middle-class population, and consumer demand for processed products present promising prospects for growth and diversification in the region’s benzenoids sector. The European aroma chemicals manufacturers are gradually losing their market share, failing to compete with products from Asia (mainly from China), where labor costs are much lower and the quality control is constantly growing, imitating western technologies. Further, countries such as China, Japan, South Korea, and Indonesia are witnessing significant growth in the cosmetics, beauty, and personal care products markets. These rae expected to drice the growth from benzenoid chemiclas in the region.

Key players in this market include include major players such as BASF (Germany), Firmenich (Switzerland), Emerald Kalama Chemical (US), International Flavors & Fragrances, Inc. (US), Eternis Fine Chemicals (India), Symrise (France), Tennants Fine Chemicals Ltd. (England), Jayshree Aromatics Pvt. Ltd. (India), and Valtris Specialty Chemicals (US. These major players in this market are focusing on increasing their presence through expansions & investments, mergers & acquisitions, partnerships, joint ventures, and agreements. These companies have a strong presence in North America, Asia Pacific and Europe. They also have manufacturing facilities along with strong distribution networks across these regions.

Food Encapsulation Market to Record Steady Growth by 2025

 The global food encapsulation market is estimated to account for USD 9.9 billion in 2020 and is projected to reach USD 14.1 billion by 2025, recording a CAGR of 7.5% during the forecast period. The market is primarily driven by the increasing use of encapsulated flavors in the food and beverage industry and the rising adoption of microencapsulation for functional ingredients.

The polysaccharides segment accounted for the largest share in the North American food encapsulation market in 2019.

The polysaccharides segment accounted for the largest market for shell material in 2018 and is projected to follow the same trend through 2025. Owing to their enormous molecular structure and ability to entrap bioactives, polysaccharides are considered the most-suitable building blocks for delivery systems. On the other hand, the market for the emulsifiers is projected to be the fastest-growing, owing to its ability to provide improved solubility and bioavailability.

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The demand for encapsulated vitamins and minerals to remain high during the forecast period.

Vitamins are functional ingredients that are used in food, owing to their specific nutritional properties for varied human body parts. Thus, targeted and controlled release of vitamins often becomes important when added as a food ingredient. Thus, encapsulation is majorly adopted for vitamins for its targeted effect. Also, flavor manufacturers have been adopting this technology at a rapid speed, and hence, the vitamins segment was closely followed by flavors in terms of dominance in the global market.

The physical method of encapsulation is estimated to dominate the market globally for the food industry in 2020.

Food encapsulation demand is targeted by a few ingredient manufacturing companies. With the use of advanced technology, the price of the ingredient rises, and hence, manufacturers prefer low cost-efficient encapsulation methods. Thus, the physical methods are the most in-demand for the encapsulation of food ingredients.

The food encapsulation market in the Asia Pacific region is projected to grow at the highest CAGR from 2019 to 2026.

Factors driving the growth of the Asia Pacific market include the increasing adoption of encapsulated flavors and colors in the beverage and premium food industry. With the rising awareness about the benefits of functional food and dietary supplements among consumers and rising disposable income, consumers have been willing to pay a premium price for value-added products. Thus, manufacturers have been grabbing this opportunity in countries such as China and India to expand their business in the encapsulation market. Also, small enterprises have been delivering generic encapsulated products in the market at competitive prices, which has been further boosting awareness.

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Many domestic and global players provide food encapsulation of various ingredients across the world. Few players offer encapsulated ingredients, while few companies offer encapsulation as an extended service for their clients. Major players have their presence in the North American and European countries. Key players operating in this market include FrieslandCampina (Netherlands), DSM (Netherlands), Ingredion Incorporated (US), Kerry Group (Ireland), Cargill (US), Lycored Group (Israel), Balchem Corporation (US), Firmenich Incorporated (Switzerland), BASF SE (Germany), International Flavors and Fragrances Inc. (US), DuPont (US), Symrise AG (Germany), Sensient Technologies Corporation (US), Aveka Group (US), Advanced Bionutrition Corp (US), Encapsys (US), Tastetech Encapsulation Solutions (UK), Sphera Encapsulation (Italy), Clextral (France), and Vitasquare (Netherlands).

Recent Developments:

• In July 2019, DSM (Netherlands) entered into a joint venture with Evonik (Germany) to produce encapsulated omega-3 fatty acids, reducing the pressure on fish stocks, and supporting the aquaculture industry.
• In May 2017, Lycored (Israel) entered into a joint venture with a biotechnology company, Algatechnologies (Israel), to distribute Algatech's AstaPure in the form of beadlets, which will help in increasing the brand's commercial reach for this product range in the North American market.
• In January 2017, DSM (Netherlands) launched a new product, MEG-3, with new encapsulation technology.

Upcoming Growth Trends in the Food & Beverage Metal Cans Market

 The report "Food & Beverage Metal Cans Market by Material (Aluminum and Steel), Type (2-Piece and 3-Piece), Degree of Internal Pressure (Pressurized Cans and Vacuum Cans), Application (Food and Beverages), and Region - Global Forecast to 2025",  According to MarketsandMarkets, the food & beverage metal cans market is estimated to be valued at USD 27.6 billion in 2020 and is projected to reach USD 37.0 billion by 2025, recording a CAGR of 6.1%. The rapid growth in awareness toward environmental sustainability and recyclable properties of metal cans are the driving factors for the food & beverage metal cans market. 

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By material, the aluminum segment is projected to account for the larger share in the food & beverage metal cans market

The aluminum segment is projected to dominate the market, on the basis of material, during the forecast period. This is attributed to the cost-effectiveness and recycling rates of aluminum. Increasing the use of metal packaging for food & beverages packaging provides a sustainable and environment-friendly solution for packaging in multiple applications. Aluminum cans are convenient to keep in refrigerators and ovens. Changes in consumer preferences are observed for food & beverage packaging. According to the Environmental Protection Agency of the United States (EPA), 1.9 million tons of aluminum packaging was generated for beers and soft drink cans, and 49.2% of aluminum beverage cans were recycled. The metal packaging for the food industry is considered to be safe, which is one of the major factors to support its growth in the market.

By application, the beverages segment accounted for the larger size in the food & beverage metal cans market during the forecast period

Based on the application, the food & beverage metal cans market is segmented into food and beverages. The beverage cans are estimated to account for the larger share, because of the high consumption of carbonated, non-carbonated, and sports & energy drinks. The rise in the consumption of alcoholic beverages leads to the growth of beverage cans market. Moreover, changes in consumer trends toward healthy drinks are driving the market for metal cans during the forecast period.

The Asia Pacific region is projected to witness the fastest growth during the forecast period

The Asia Pacific food & beverage metal cans market is projected to have higher growth potential in the coming years. A large consumer market and increasing disposable income in India and China are driving the growth of the demand for high-quality metal packaging. Also, China is the hub for the manufacture of metal cans and has sufficient manufacturing plants to meet the demand for food & beverage metal packaging. Moreover, rapid urbanization in countries such as India and China are expected to result in high growth of the food & beverage metal cans market in Southeast Asia during the forecast period.

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This report includes a study on the marketing and development strategies, along with the product portfolios of the leading companies. It consists of the profiles of leading companies such as Crown Holdings, Inc (US), Ball Corporation (US), Silgan Holdings Inc. (US), Ardagh Group (Luxembourg), CAN-PACK S.A. (Poland), Kian Joo Group (Malaysia), CPMC Holdings Limited (China), Huber Packaging Group GmbH (Germany), CCL Industries (US), Toyo Seikan Group Holdings Ltd (Japan), Universal Can Corporation (Japan), Independent Can Company (US), Mauser Packaging Solution LLC (Germany), Visy (Australia), Lageen Food Packaging (Israel), Massilly Holding S.A.S (France), P. Wilkinson Containers Ltd. (UK), Unimpack (Netherlands), Müller und Bauer GmbH (Germany), and Allied Cans (Canada).

Recent Developments:

• In April 2019, Crown Holdings, Inc. announced the launch of round and square shorter cans in the luxury packaging market. This will help the company to broaden its product portfolio.
• In August 2019, Ball Corporation signed an agreement to sell its tinplate steel aerosol packaging facilities to Envases del Plata (Argentina), an Argentinian metal packaging company. This agreement will help the company to expand its reach in the South American region.
• In October 2019, Ball Corporation announced the construction of its new aluminum cups manufacturing plant in Rome, Georgia to cater to the growing demand for beverage packaging in the US. This new plant will help the company expand its presence in the US region.
• In July 2019, Ardagh Group launched a slimline 187 ml can particularly designed for protecting wine and wine-based drinks. This launch would help the company to expand its product portfolio.

Key Trends Shaping the Technical Enzymes Market

The global technical enzymes market size is projected to grow from USD 1.1 billion in 2019 to USD 1.5 billion by 2026, recording a compound annual growth rate (CAGR) of 4.0% during the forecast period. The increasing trend of environmental concerns in developing countries and advancements of R&D activities for technical enzymes are the major factors that are projected to drive the growth of this market during the forecast period.

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The microorganism source is projected to account for the largest share in the technical enzymes market during the forecast period.

Microorganisms are the primary source of technical enzymes, as they are cultured in large quantities in a short period, and genetic manipulations can be done on bacterial cells to enhance the enzyme production for usage in various industries such as biofuel, pulp & paper, textile & leather, and starch processing. Additionally, the microbial enzymes are preferred by the manufacturers due to their active and stable nature as compared to enzymes from plants and animals.

The liquid form is projected to account for a larger share in the technical enzymes market during the forecast period.

The liquid form of enzymes is widely used in the biofuel and textile & leather industries, due to better blending properties with the resources used for the production of biofuels. In biofuel, the liquid enzymes augment the supply of liquid fuel; whereas, in textiles, it offers the potential to completely replace the use of other chemicals in textile preparation processes. The enzymatic degreasing process replaces the solvent-based process followed by the leather manufacturers. Since the liquid enzymes interfere less with the skin structure, the enzymatic process also results in a product with improved quality. Due to these factors, the liquid form is projected to dominate the market during the forecast period.

North America is projected to account for the largest share in the technical enzymes market during the forecast period.

The North American market is projected to account for the largest share by 2025, due to various benefits of technical enzymes, as they are an environment-friendly and cost-effective alternative to replace the conventional alkaline or conventional acidic catalysts. Technological advancements have made technical enzymes available for a wide range of applications in biofuel, paper & pulp, textile & leather, starch processing, and other industries, which is estimated to drive the growth in the region. The North American region is estimated to be the largest market for technical enzymes, globally, owing to the development of novel and superior performing products, developed technologies, and global industrialization.

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Key vendors in the global technical enzymes market include BASF (Germany), DuPont (US), Associated British Foods (UK), Novozymes (Denmark), DSM (Netherlands), Dyadic International (US), Advanced Enzymes Technologies (India), Maps Enzymes (India), Epygen Labs (India), Megazyme (Ireland), Aumgene Biosciences (India), Enzymatic Deinking Technologies (US), Tex Biosciences (India), Denykem (UK), MetGen (Finland), and Creative Enzymes (US). These players have a broad industry coverage and high operational and financial strength.

Key questions addressed by the report:

• Who are the major market players in the technical enzymes market?
• What are the regional growth trends and the largest revenue-generating regions for the technical enzymes market?
• What are the key regions and industries that are projected to witness significant growth in the technical enzymes market?
• What are the major industries of technical enzymes that are projected to account for a major revenue share during the forecast period?
• In which major forms are technical enzymes majorly used, and which form is projected to dominate during the forecast period?
• What are the major sources of technical enzymes that are projected to account for a major revenue share during the forecast period?

Post-harvest Treatment Market to Witness Unprecedented Growth in Coming Years

The post-harvest treatment market is projected to grow from USD 1.5 billion in 2019 to USD 2.3 billion by 2026, recording a CAGR of 6.5% during the forecast period. This is attributed to the increasing trade of perishable products such as fruits and vegetables, which widens the application of post-harvest treatment to increase their shelf life during storage and transportation.

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The fruit segment is projected to grow at the highest rate during the forecast period.

The fruit segment, by crop type, is projected to grow at the highest CAGR, in terms of value, during the forecast period. Fruits are highly perishable in nature and are required to be treated with post-harvest solutions to increase their shelf life for longer storage duration and easy transport of these products. Increasing application of natural flavors in the food and beverages industry is also encouraging the trade of fruits, which in turn, has led to a surge in demand for post-harvest treatment solutions in the major fruits and vegetable producing region such as Asia Pacific.

By type, the coatings segment is estimated to account for the largest share in 2019 in the post-harvest treatment market.
Coatings are one of the methods to increase the shelf life of products and decrease the quality and quantity losses. They are mostly applied to fruits & vegetables during the packaging process for maintaining their softness, color, odor, and flavor. The development of edible coatings has made it easier for fruits and vegetable processors to use the produce without any concerns about their harmful effects. Edible coatings help to prevent unnecessary softening and ripening of fruits & vegetables. Coatings form an integral part of the post-harvest treatment process, as fruits & vegetables are stored for longer periods, thereby making it important to maintain their shelf life and quality.

The Asia Pacific region is projected to grow at the highest CAGR during the forecast period.

The Asia Pacific region is projected to grow at the highest CAGR in the post-harvest treatment market during the forecast period due to the increasing demand for exotic fruits and vegetables from the developed regions. Countries such as India and China are the major producers of fresh fruits and vegetables, which is exported across the globe. This presents profitable opportunities for manufacturers in the post-harvest treatment market in the region.

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The prominent vendors in the post-harvest treatment market include Decco (US), JBT (US), Pace International LLC (US), Xeda International (France), Agrofresh (US), Syngenta (Switzerland), FMC Corporation (US), Nufarm (Australia), Bayer (Germany), and Citrosol (Spain), Fomesa Fruitech (Spain), Futureco Bioscience (Spain), Corteva Agriscience (US), BASF (Germany), Sensitech Inc (US), Post-Harvest Solutions (New Zealand), Janssen PMP (Belgium), Colin Campbell Pty Ltd (Australia), Valent Biosciences (USA), and RPM International (US).

Recent Developments:

• In September 2019, Bayer launched a new fungicide called “Iblon.” This helped the company to enhance its product portfolio in the post-harvest treatment market.
• In September 2019, JBT launched Sta-Fresh 2850, which is a certified coating for organic fruits. It provides supershine, blush, and moisture control. This launch would help the company to expand its product portfolio.
• In September 2019, Syngenta acquired The Cropio Group, an Ag-Tech company with a presence in 50 countries, but with a focus in Eastern Europe. This will enhance the company’s presence in the international market. This acquisition would help the company to enhance its position in digital farm management.

Nematicides Market to Witness Unprecedented Growth in Coming Years

The report "Nematicides Market by Type (Fumigants, Carbamates, Organophosphates, Bionematicides), Mode of Application (Fumigation, Drenching, Soil Dressing, Seed Treatment), Nematode Type (Root Knot, Cyst), Crop Type, Form, and Region - Global Forecast to 2025 ", The global nematicides market size is estimated to be valued at USD 1.3 billion in 2019 and is expected to reach a value of USD 1.6 billion by 2025, growing at a CAGR of 3.4% during the forecast period. Factors such as the growing demand for biological products and an increasing number of product launches catering to the requirement of crop-specific nematodes drive the growth of the market. 

Nematicides infestation is difficult to detect, is often attributed to other causes and its damage is often underestimated. Massive phase-out of active ingredients used to control nematodes such as methyl bromide and aldicarb would also drive for the adoption of new innovative control measures. Growing environmental concerns associated with the use of chemicals to control nematodes have paved way for the adoption of biological control. New farming practices such as no-tillage, and reduced tillage farming, along with increased soil degradation leading to decreased efficacy have resulted in an increase in the infesatation of nematodes. These trends are expected to increase the demand for nematicides, globally.

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By type, bionematicides are projected to be the fastest-growing segment in the nematicides market during the forecast period

With the increasing awareness among consumers about the importance of organic foods, the adoption of sustainable agriculture and integrated pest management solutions has increased. This has led to the demand for biocontrol products such as pheromones, biofungicides, biopesticides, and bionematicides. A number of major players in the market such as Marrone Bio Innovations (US) and Valent BioSciences (US) are introducing bionematicide solutions for seed treatment. These factors have paved the way for the high growth rate in the bionematicides market.

By crop type, vegetables are projected to dominate the nematicides market.

The vegetables segment is projected to hold the largest market share owing to the increasing cases of infestation on vegetables such as potatoes, tomatoes, peas, cauliflower, and carrots, by nematode species such as root-knot, lesion, and cyst nematodes. The increasing acreage being brought under vegetable cultivation and the growing demand for organic vegetables drive the growth of this segment.

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Asia Pacific is projected to grow at the highest CAGR during the forecast period

The market for nematicides is projected to grow at the highest CAGR in the Asia Pacific region owing to the growing nematode infestation in vegetables such as tomatoes, potatoes, carrots, peas, and cauliflower in the major vegetable-growing countries such as China and India. The regulatory scenario in the Asia Pacific region is comparatively more favorable for the launch of nematicides as compared to that of Europe and North America. There is also growing awareness among farmers about the use of bio nematicides since the market for organic farming, and sustainable agriculture is growing with more consumers demanding organic fruits & vegetables.

This report includes a study on the marketing and development strategies, along with a study on the product portfolios of the leading companies operating in the nematicides market. It consists of the profiles of leading companies such as Bayer AG (Germany), Syngenta Crop Protection AG (Switzerland), Corteva Agriscience (US), BASF SE (Germany), Adama Agricultural Solutions Ltd (Israel), FMC Corporation (US), Nufarm (Australia), UPL Limited (India), Isagro Group (Italy), Valent USA (US), Chr. Hansen (Denmark), Certis USA LLC (US), Marrone Bio Innovations (US), American Vanguard Corporation (US) , Crop IQ Technology (UK), Real IPM Kenya (Kenya), Horizon Group (India), Agri Life (India), and T. Stanes & Company Limited (India).

Growth Opportunities in the Feed Premix Market

 The report "Feed Premix Market by Ingredient Type (Vitamins, Minerals, Amino Acids, Antibiotics, Antioxidants, and Others), Livestock (Poultry, Ruminants, Swine, Aquatic Animals, Equine, and Pets), Form (Dry and Liquid), and Region - Global Forecast to 2025", is estimated to be valued at USD 21.6 billion in 2019 and is expected to reach a value of USD 30.9 billion by 2025, growing at a CAGR of 6.2% during the forecast period. Feed premixes consist of necessary growth factors that are added as supplements with concentrate feed to provide a wholesome nutritional diet for animals. Owing to the recent disease outbreaks, ingredients in feed premixes have come under focus to strengthen the immunity of livestock. With advancements in technology and awareness among farmers, the emerging markets are obtaining more localized premix products and services.

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By livestock, the poultry segment is projected to dominate the feed premix industry during the forecast period.

The poultry segment is projected to hold the largest feed premix market share during the forecast period. Feed premixes such as vitamins, minerals, and amino acids are some of the significant premixes used in poultry feed for better quality and quantity production. On a global level, the total poultry production has been increasing, and with such growth in poultry production and consumption, it has become essential for meat producers to focus more on the quality of meat. This gives a boost to the feed premix industry, to provide a complete nutritional feed for poultry.

By form, the dry segment is projected to dominate the feed premix market during the forecast period.

The market for crops with other traits is growing significantly in the market due to its convenience in usage, packaging, and several other benefits, such as smooth handling and storage, which is posing challenges with liquid ingredients. Feed premixes in the dry form are easier to mix with animal feed and provide a longer shelf life than in the liquid form, due to which makes them they first witness high preference among feed manufacturers.

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Asia Pacific is projected to grow at the highest CAGR during the forecast period

With rapid economic growth in the region, high demand is expected for feed products, especially in China, India, South Korea, and Japan. The contribution of the Asia-Pacific region accounted for the largest share of the global meat production in 2018 according to the FAO, and is projected to grow due to increase in consumption of meat. The main reason for the high consumption of feed premixes in the region is the increased focus to enhance poultry and other livestock meat production.

This report includes a study on the marketing and development strategies, along with a survey of the product portfolios of the leading companies operating in the feed premix market. It includes the profiles of leading companies such as Nutreco N.V. (The Netherlands), Koninklijke DSM (The Netherlands), Cargill (US), ADM (US), and DLG Group (Denmark).