Global Monoterpenes Market – Industry Trends and Forecast to 2030

Global Monoterpenes Market, By Resin Type (Liquid Monoterpenes Resin and Solid Monoterpenes Resin), End User Industry (Food and Beverages, Cosmetics, Pharmaceutical, and Rubber and Others) - Industry Trends and Forecast to 2030.

Monoterpenes Market Analysis and Size

Surging health awareness, increasing demand for dietary supplements among the population, rising focus on technological advancements by the fragrance and flavour sector and rising globalization are the major factors fostering the growth of the global monoterpenes market. Changing and evolving lifestyle, growth in the penetration of e-commerce platforms especially in the developing economies and rise in demand for the product from end user industries such as cosmetics and personal care are other important factors acting as global monoterpenes market growth determinants. This is due to the growing awareness about their beneficial properties. Monoterpenes are effective in treating early and advanced cancers such as mammary cancer, liver cancer, lung cancer, and others. Monoterpene often has a strong odour and offers high resistance capabilities and is utilized as natural fragrance or flavour in numerous applications and is expected to see a significant growth in the global market.

Data Bridge Market Research analyses that the global monoterpenes market which was USD 6.28 Million in 2022, is expected to reach USD 11.62 Million and is expected to undergo at a CAGR of 8.0% during the forecast period of 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Monoterpenes Market Scope and Segmentation

Market Definition

Monoterpenes are a class of organic compounds composed of two isoprene units, each consisting of five carbon atoms and eight hydrogen atoms (C10H16). They are a subgroup of terpenes, which naturally occurring hydrocarbons are found in various plants, particularly in the essential oils of aromatic plants. Monoterpenes are known for their distinctive aromatic properties and play a significant role in the fragrance and flavor industries. Monoterpenes are compounds found in the essential oils that can either be extracted from plants or can be found in animals.

Global Monoterpenes Market Dynamics

Drivers

• Growing Demand in Fragrance Industry

The growing demand for monoterpenes in the fragrance industry is a pivotal driver for the global monoterpenes market. Monoterpenes, organic compounds found in various essential oils, offer a wide array of natural and authentic fragrances. This growing preference for natural ingredients over synthetic ones stems from consumer desires for eco-friendly and sustainable products. Monoterpenes are prized for their versatility, making them a valuable component in perfumes, colognes, and scented products. In an era where consumers prioritize products free from synthetic chemicals, monoterpenes meet these expectations, positioning them as safer and more environmentally friendly alternatives. Their appeal in the fragrance industry reflects the broader trend of natural and sustainable product demand, further fuelling their market growth.

• Expanding Health and Wellness Trends

The global monoterpenes market benefits from the expanding health and wellness trends. Monoterpenes, found in essential oils, align with the rising consumer focus on health. They are sought after for their potential therapeutic advantages, including anti-inflammatory, anti-microbial, and stress-relieving properties. As consumers increasingly opt for natural and holistic approaches to well-being, monoterpenes are integrated into aromatherapy, wellness products, and natural remedies. This growing demand for natural solutions in the health and wellness sector significantly contributes to the market's expansion.

Opportunity

• Investment in Research and Development

Investing in research and development presents a significant opportunity for the global monoterpenes market. With ongoing exploration and innovation, new applications and extraction methods for monoterpenes can be discovered. Research can unveil novel sources of monoterpenes, advanced extraction techniques, and unique formulations that expand their utility beyond current applications. This could include identifying rare plant sources rich in monoterpenes or developing more sustainable extraction processes, aligning with the growing demand for eco-friendly and natural solutions. Furthermore, R&D efforts can lead to the creation of tailored monoterpene-based products that cater to evolving consumer preferences, such as personalized fragrances or targeted wellness solutions. Embracing research and development not only drives innovation but also strengthens the market's competitive edge by offering fresh, value-added solutions to various industries.

Restraint/Challenge

• Price Volatility and Supply Chain Vulnerabilities

Price volatility and supply chain vulnerabilities represent a dual restraint and challenge for the global monoterpenes market. Monoterpenes prices can fluctuate due to factors such as weather conditions and crop yields, impacting production costs and pricing stability. Simultaneously, the reliance on specific plant sources for monoterpenes makes the supply chain vulnerable to external factors such as climate change, leading to potential disruptions. These interconnected issues necessitate careful supply chain management and risk mitigation strategies to ensure consistent availability and affordability of monoterpenes, challenging market participants in maintaining stability and profitability.

This global monoterpenes market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global monoterpenes market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Development

• In March 2023, BASF has announced plans to make investments in aroma ingredients manufacturing facilities in both China and Germany. A global-scale citral plant is planned for Zhanjiang, China, while facilities in Ludwigshafen, Germany will make menthol and linalool downstream products. It is hoped that the investment will expand and diversify BASF’s aroma ingredients’ citral value chain footprint in Germany and Malaysia, and support its customers’ growth opportunities

Global Monoterpenes Market Scope

The global monoterpenes market is segmented on the basis of resin type and end user. The growth amongst these segments will help you meagre growth segments in the industries and provide the users with a valuable market overview and insights to help them make strategic decisions for identifying core market applications.

Resin Type

• Liquid Monoterpenes Resin
• Solid Monoterpenes Resin

End User

• Food and Beverages
• Cosmetics
• Pharmaceutical
• Rubber
• Others

Global Monoterpenes Market Regional Analysis/Insights

The global monoterpenes market is analysed and market size insights and trends are provided by resin type and end user as referenced above.

The countries covered in the global monoterpenes market report is U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, U.A.E., Egypt, Israel, and Rest of Middle East and Africa

Asia-Pacific region dominates the global monoterpenes market and will continue to during the forecast period of 2023 to 2030, owing to the heavy investments in countries such as China, Japan and India for research and development activities and growth and expansion of food and beverages industry and other end user industries, growing demand for new exotic flavors, rising application in the pharmaceutical drugs and increasing personal disposable income.

North America is expected to be the fastest growing region in the global monoterpenes market during the forecasted period of 2023 to 2030, due to abundant resources, advanced tech, rising demand for naturals, a strong cosmetics industry, research, and eco-conscious consumers.

The country section of the report also provides individual market impacting factors and domestic regulation changes that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends, and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Global Monoterpenes Market Share Analysis

The global monoterpenes market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies focus related to global monoterpenes market.

Some of the major players operating in the global monoterpenes market are:

• Firmenich SA (Switzerland)
• Florida Chemical Company (U.S.)
• Citrosuco (Brazil)
• Cutrale (Brazil)
• Florachem (U.S.)
• Citrus and Allied Essences Ltd. (India)
• Ernesto Ventós, S.A. (Spain)
• Citrus Oleo (India)
• Givaudan (Switzerland)
• Flotek Industries, Inc. (U.S.)
• U.S. Sugar (U.S.)
• Takasago International Corporation (Japan)
• De Monchy Aromatics (Netherlands)
• Tropicana Products, Inc. (U.S.)
• Vigon International, Inc. (U.S.)
• Kanta Enterprises Private Limited (India)
• Merck KGaA (Germany)
• Himalaya Terpenes Pvt. Ltd. (India)
• Astrra Chemicals (India)
• Natural Fractipons (U.S.)
• BASF SE (Germany)