Global Nootkatone Market Size To Exceed USD 300 Million By 2033 | CAGR of 10.55%
Category: Food & BeveragesGlobal Nootkatone Market Size To Exceed USD 300 Million By 2033
According to a research report published by Spherical Insights & Consulting, the Global Nootkatone Market Size is Expected to Grow from USD 110 Million in 2023 to USD 300 Million by 2033, at a CAGR of 10.55% during the forecast period 2023-2033.
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Browse key industry insights spread across 215 pages with 110 Market data tables and figures & charts from the report on The " Global Nootkatone Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Natural Nootkatone, Synthetic Nootkatone), By Application (Insect Repellents, Flavors and Fragrances, Pharmaceuticals, Personal Care, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/nootkatone-market
Nootkatone is a sesquiterpene found naturally in grapefruit peel and essential oils, as well as the oils of cedarwood species. It has the most unique lemony, woody aroma that is commercially known. Nootkatone has recently received a lot of attention for its potential applications in various industries, including food and beverage, fragrances, cosmetics, and bio-based insect repellents. Moreover, Consumers seek clean-label, natural components in the products they purchase, which drives the nootkatone industry. Environmental challenges are also driving up demand for eco-friendly, nontoxic pest control and personal care products. Technological developments in extraction and production make the substance more affordable and accessible. The rise of plant-based and cruelty-free products fuels the market trend, as does increased consumer awareness of the need for natural and safe alternatives in everyday products. However, key restraints in the nootkatone market include high production costs, raw material scarcity, and scalability issues in extraction procedures. Other regulatory problems, as well as competition from synthetic options, limit the industry's market expansion potential.
The natural nootkatone segment accounted for the highest share in 2023 and is anticipated to grow at a remarkable CAGR during the projected timeframe.
Based on the product type, the global nootkatone market is divided into natural nootkatone and synthetic nootkatone. Among these, the natural nootkatone segment accounted for the highest share in 2023 and is anticipated to grow at a remarkable CAGR during the projected timeframe. This is mostly due to customers' growing awareness of the importance of employing natural, sustainable, and ecologically friendly components in items like personal care, food, and insect repellents. Natural nootkatone will also resonate with the trend of clean-label and organic products from health-conscious consumers, as well as the growing demand for more sustainable solutions.
The insect repellents segment dominated the market in 2023 and is projected to grow at a substantial CAGR during the projected timeframe.
Based on the application, the global nootkatone market is divided into insect repellents, flavours and fragrances, pharmaceuticals, personal care, and others. Among these, the insect repellents segment dominated the market in 2023 and is projected to grow at a substantial CAGR during the projected timeframe. This expansion is being driven by increased demand for nontoxic and environmentally friendly alternatives to chemical-based repellents. Nootkatone's efficacy against mosquitos and ticks has also been studied; in combination with its natural and sustainable character, it serves as the first alternative for natural repellents in a constantly developing international market.
North America is anticipated to hold the largest share of the global nootkatone market over the predicted timeframe.
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North America is anticipated to hold the largest share of the global nootkatone market over the predicted timeframe. This is due to rising customer demand for natural, eco-friendly items in the region. Personal care items, scents, and insect repellents are examples of such categories. Increasing sustainable tendencies, together with regulatory support for natural additives, are driving the rising demand for nootkatone in the United States and Canada.
Asia Pacific is expected to grow at a rapid CAGR of the global nootkatone market during the forecast period. This rise is being driven by a significant demand for natural components in personal care, pharmaceuticals, and insect repellents, particularly in China, India, and Japan. The region has seen rapid urbanization, increases in disposable income, and the benefits of transitioning to environmentally friendly and naturally favoured items.
Major vendors in the global nootkatone market are Fine Fragrances Pvt. Ltd., Florida Worldwide Citrus Products Group, Inc., The Flavored Herb, Evolva Holding SA, Isobionics (BASF SE), Penta Manufacturing Company, Vigon International, Inc., Moellhausen S.p.A., Others.
Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Development
- In October 2022, Evolva, the pioneer in natural molecules and industrial biotech, introduced "Natural Nootkatone by Evolva," a natural component with the highest purity level that now meets all requirements to be certified as natural in the EU as well as the US.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global nootkatone market based on the below-mentioned segments:
Global Nootkatone Market, By Product Type
- Natural Nootkatone
- Synthetic Nootkatone
Global Nootkatone Market, By Application
- Insect Repellents
- Flavors and Fragrances
- Pharmaceuticals
- Personal Care
- Others
Global Nootkatone Market, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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