Lauric Aldehyde Market is Anticipated to Grow at a CAGR of 5.1% During the Forecast Period 2018-2025
As per the report Lauric Aldehyde Market By Type (Food Grade and Industrial Grade),By Application (Drinks & Food, Cosmetics and Personal Care Products), Industry Trends, Estimation and Forecast,2017-2025" In 2017, the Drinks and Food segment generated the highest revenue share in the global lauric aldehyde market. Among major regions, China was the highest revenue generating market, holding nearly 30% of the market share, in 2017.
Customer preferences, and demographics have always been influencing the growth of lauric aldehyde market. Some customers prefer their perfumes & cosmetics to be pungent and sharp, while others prefer them to be soft, calm and natural. Increasing e-commerce and rising concerns regarding grooming and beauty, especially among youth, is expected to boost the demand of lauric aldehyde in the consumer driven market.
Industrial grade lauric aldehyde garnered the highest market share due to its surging demand in varied industrial applications
There is a wide application of lauric aldehyde in industries, especially in the chemical industry. Lauric aldehyde finds an explicit usage as a surfactant in the chemical industry, owing to its ability to reduce the surface tension of water or two immiscible substances. It is also used as a cleaning and conditioning agent in the fabric industry. Moreover, it’s increasing usage as an attractant in agrochemical industry, paint additive and lubricant additive is expected to boost the growth of industrial grade lauric aldehyde market.
Drinks and Food segment to grow with an impressive CAGR of 5.3% during the forecast period
Due to its pleasant floral odor, lauric aldehyde is widely used in products such as ice-creams, candy, baked goods, gelatin desserts, chewing gum and many others. Moreover, the growing trend of consuming packaged food and beverage is also stimulating the market growth. In addition to this, rising awareness of end users regarding food additives and increasing inclination towards naturally derived oils and flavors is also expected to boost the segment growth.
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China gained the highest revenue in the global market, owing to the growth in its industrial sector
China held nearly 30% market share, in terms of revenue, of the global market. It is anticipated to maintain its dominance in the long run and exhibit an impressive CAGR of 4.2% during the forecast period. Increasing consumer spending along with change in standard of living are few factors which are uplifting the product demand in this region. Moreover, growing importance of personal grooming among teenagers and surging use of famous brands of cosmetics & perfumes acts as a big opportunity for lauric aldehyde market growth.
KEY FINDINGS OF GLOBAL LAURIC ALDEHYDE MARKET, 2017-2025
• The Food grade segment is expected to witness the highest growth rate of 6.5% in the upcoming years.
• The global lauric aldehyde market is anticipated to witness a declining price trend during the forecast period 2018-2025.
• China led the global lauric aldehyde market in 2017, in terms of revenue, by holding nearly 30% of the total share.
• Cosmetics segment is expected to grow with an impressive CAGR of 5.8% during the forecast period.
Some key market players are Indukern, SRS Aromatics, Vigon international, Asteir Demarest, and Kalpsutra chemicals. Detailed coverage on these market players with information on their revenue from Lauric Aldehyde, production, capacity, market share, gross margin and their growth strategies have also been provided in the report.
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