Global Farnesene Market was valued at US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of XX% during a forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Farnesene is used widely in the cosmetic and perfume industry owing to its pleasing odor and is expected to drive the market growth in the upcoming years. Farnesene is used as an ingredient in moisturizing and anti-ageing cream formulations and is expected to witness industry growth because of the boost in the cosmetic and personal care product industry. The product finds its use in several food applications in light of its good flavor is likely to upsurge its demand in future. The flavor attribute makes it an excellent supplement in teas and juices and is probable to augment its demand. Other applications of farnesene are in surfactants, stabilizers, oligomers, adhesives, polymers, fragrances, resins, foams, coatings, sealants, emulsifiers, vitamin precursors, and crop protection is anticipated to drive the demand of the industry.
Cosmetics application segment led the industry with demand estimated at more than US$ 14Mn for 2017. The farnesene industry size may grow owing to rise in Squalene demand. Increasing demand for cosmetics is one of the major factors driving the farnesene market globally. In the cosmetic industry, the trend of using bio-based resources over synthetic products for numerous anti-ageing cream, lotion, and other cosmetics is taking precedence. The demand for bio-based products is increasing at a steady rate of year-on-year. This trend is helping in the high consumption of farnesene in the cosmetics sector, because of its less toxicity and excellent biodegradable characteristics.
The β-Farnesene segment is leading the market for farnesene, owing to its growing applications in vitamin E production. Leading farnesene producers are founding cross geographic partnerships to sell farnesene for vitamin E production. Such as, Amyris, Inc., a leading farnesene producer based in the USA has established a partnership with Nenter, a Chinese biomedicine enterprise to supply farnesene to produce vitamin E.
Based on region, Europe will be the major revenue contributor to the farnesene market during the forecast period. Europe is dominated by Germany, France, and UK farnesene market. The increasing demand for cosmetics, flavor and fragrances and the increasing disposable income of individuals, will drive the growth of the market in this region. Heavy emphasis on utilizing sustainable products derived from biomass along with ecological measures taken to eradicate greenhouse gas emissions is forecast to stimulate the demand for farnesene in the region.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Global Farnesene Market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the Global Farnesene Market.
Scope of Global Farnesene Market
Global Farnesene Market, by Type
Global Farnesene Market, by Application
• Flavor and Fragrances
• Performance Materials
Global Farnesene Market, by Region
• North America
• Asia Pacific
• Middle East and Africa
• South America
Key players operating in Global Farnesene Market
• Penta Manufacturer
• Tate & Lyle
• Toronto Research Chemicals
• Bedoukian Research
• Katyani Exports
• Santa Cruz Biotechnology
• Triveni Chemicals
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