Global anisole market size was USD 39.03 million in 2014 and is expected to witness significant growth over the next seven years owing to increasing demand in various industries including cosmetics, pharmaceuticals, and food & beverages. It is also employed as an intermediate in the manufacturing of different dyes, which is expected to increase its market share over the forecast period.
Increasing disposable income along with growing consumption of perfumes will augment industry growth particularly in Asia Pacific. Furthermore, increasing use of cosmetic products in Latin America and the Middle East will increase consumption over the forecast period.
Growing demand for scents, creams, and various types of perfumes will propel industry penetration over the forecast period. Also, growing pharmaceutical sector in Asia Pacific countries including India and China and Latin America is expected to have a positive impact on the market. Supportive regulations towards the use of anisole in manufacturing pharmaceutical products meant for both internal and external use will augment demand for the product over the forecast period.
Technological innovations aimed at improving manufacturing processes to increase the yield of the product with high levels of purity will have a positive impact on the industry. However, raw material price volatility and availability are expected to restrain market growth over the next seven years.
Anisole finds applications in various sectors including perfumes, pharmaceuticals, and other application including food & beverages and dyes. Perfume was the largest application segment in 2014 accounting for over 50% of global revenue and is expected to grow significantly as a result of high consumption owing to its pleasant and sweet properties. Robust manufacturing base of cosmetic industry coupled with growing domestic demand in U.S., China, Germany, Saudi Arabia, Italy, Mexico, Brazil, France and the UK is expected to augment industry growth over the forecast period
Product use in the pharmaceuticals sector is expected to grow at CAGR of over 4.2% from 2015 to 2022 in light of high growth in China and India on account of favorable FDI policies. Moreover, growing domestic demand in developing countries due to increasing health awareness coupled with technological advancement is expected to further drive pharmaceutical industry, contributing to market growth over the next seven years.
Europe was the dominant market in 2014, accounted for over 30% of the global share and will show high growth on account rising need for cosmetic products in Germany, Italy, France and UK. Urbanization, higher spending power and growing awareness regarding appearance and grooming are expected to propel perfume industry in the region thereby driving demand over the forecast period.
Asia-Pacific is expected to witness significant rise with CAGR of over 4.7% from 2015 to 2022 on account of growing pharmaceutical sector in China, India, Indonesia, Malaysia Philippines, Singapore, Thailand and Vietnam. High investment by foreign players including British firm GlaxoSmithKline (GSK), Swiss company Novartis, and Germany’s Bayer will promote industry penetration over the next seven years. Rising consciousness of personal grooming Chinese consumers, coupled with increasing spending power is expected to propel increase demand for perfumes in the country thereby fuelling anisole market growth.
High growth in the pharmaceutical industry in Argentina, Brazil, Chile and Venezuela is expected to have a positive impact on the industry. High fragrance consumption in Brazil will spur industry over the next seven years. High demand for perfumes in UAE, Kuwait, and Saudi Arabia will stimulate industry penetration over the forecast period.
The market for anisole is fragmented with numerous players present globally. Key companies include Evonik, Atul Ltd., Surya Life Sciences Ltd., Westman Chemicals Pvt. Ltd., Emmennar Chem, Benzo Chem Industries, Sigma-Aldrich, Camlin Fine Chemicals, Eastman Chemical Company, and Parchem.
Current manufacturers have been employing various technologies for manufacturing anisole including electrophilic aromatic bromination, acetylation, and acylation. Electrophilic aromatic bromination is the most popular technology employed among manufacturers as it increases energy among anisole molecules and enhances their reactivity.
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