Automotive Adhesives & Sealants Market Overview
Myrcene is a terpene that is naturally found in plants like hops and bay leaves. It is widely used in perfumes, cosmetics, and food & beverages for its pleasant aroma and flavor. In the pharmaceutical industry, Myrcene is known for its anti-inflammatory, analgesic, and sedative properties. Top global Myrcene companies include DRT, Bordas, Takasago, Florida Chemical, and Florachem, with the top 3 companies holding a share of over 35%. China dominates the market with a 39% share, followed by Europe and North America with shares of 37% and 12%, respectively. The market growth is driven by the fragrance, flavor, and pharmaceutical sectors, where Myrcene is used for its aroma, flavor enhancement, and medicinal properties. The market is also expanding due to the trend towards natural ingredients in various industries.
Market Value & Growth Projections
Market Value & Growth
Projections:
• Market Value in 2024: $101 million • Projected Value by 2031: $137 million • CAGR 4.7% (2024–2031)
Key Market Drivers:
• Growing Demand in the Fragrance Industry
• Expansion in the Flavor Industry
Market Segmentation
By Application
By Region
Flavor and Fragrance
Key Market Players
DRT
Florachem
Bordas
Florida Chemical
Regional Market Analysis
• North America: The region shows strong demand for natural ingredients in cosmetics and food & beverages, driving the Myrcene market growth.
• Europe:
Increasing demand for organic ingredients in various sectors is boosting the Myrcene market in Europe.
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