- Increasing consumption of tobacco across the globe is expected to drive growth of the global Sclareolide market.
- High cost of the product is a key factor expected to restrain growth of the global market.
- The Europe sclareolide market accounted for the highest share.
Sclareolide is a sesquiterpene lactone natural product derived from various plant sources including salvia sclarea, salvia yosgadensis, and cigar tobacco. It is mostly used as a fixative or base in the perfume industry, and also used in cosmetics for lightening or darkening of skin.
The global sclareolide methane market is estimated to be valued at approximately $40 million in 2018 and is expected to register a CAGR of over 3.7%.The first five-year cumulative revenue (2018–2022) is projected to be over $265 million, which is expected to increase significantly over the latter part of the five-year forecast period.
Global Sclareolide Market: Market Dynamics
Increasing consumption of tobacco across the globe, tobacco is predominantly flavored with sclareolide to lower bitterness and original scent of tobacco. Although, tobacco epidemic is one of the biggest public health threats in the world, consumption of tobacco has been on the rise for the last decade, which in turn is expected to drive growth of the global Sclareolide market over the forecast period.
However, high cost of product, since the extraction process of sclareolide is extremely costly for manufactures, which reflects on its final product price is a key factor expected to restrain growth of the global market over the forecast period. In addition, availability of cost-effective substitutes to de-bitter coffee, and tobacco, as well as products to provide fragrance in cosmetics are some other factors expected to hamper growth of the global sclareolide market to a certain extent.
The ongoing trend observed in the target market is increasing adoption of sclareolide as weight-loss and sports supplements in order to increase resting metabolism, body fat breakdown, and enhancing thyroid function.
Global Sclareolide Market: Segmental Snapshot
The market report has been segmented on the basis of type, end use, and region. The type segment is further bifurcated into 95–97% and >97%. The end use segment is further bifurcated into cosmetics, tobacco, food and beverages, and others. The regions covered in the analysis include North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
- By type: The 95–97% segment accounted for highest revenue share contribution as compared to >97% type segments and is expected to register a CAGR of over 3.5% between 2018 and 2027.
- By end use: The Tobacco segment accounted for highest revenue share contribution as compared to other end use segments, and is expected to register a CAGR of over 4.0% between 2018 and 2027.
- By Region: The Europe sclareolide market accounted for the highest share in terms of revenue in the global sclareolide market in 2017. The Asia Pacific is expected to register the highest CAGR of over 4.0% between 2018 and 2027.
Global Sclareolide Market: Competitive Analysis
The research report on the global sclareolide market includes profiles of some of major companies such as Merck KGaA, Carbosynth Ltd., Santa Cruz Biotechnology, Inc., Tokyo Chemical Industry Co., Ltd., Apexbio Technology LLC, Aphios Corp., Avoca Inc., Capot Chemical Co., Ltd., J&K Scientific Ltd., and abcr GmbH.
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