Beta-damascenone or β-Damascenone is a ketone that has a powerful and pleasant fragrance and can be found naturally in roses and grapes. It is primarily used as a fragrance ingredient in the perfumery industry but is a popular ingredient in the food processing sector. The popularity of beta-damascenone in the perfumery sector is projected to reach new heights in the future as the preference for natural aromas rises.
The global beta-damascenone market accounts for a valuation of US$ 54.73 million in 2023 and is forecasted to reach US$ 83.38 million by the end of 2033. This detailed industry research by Fact.MR predicts worldwide demand for beta-damascenone to rise at 4.3% CAGR over the next ten years (2023 to 2033).
Growing per capita disposable income of people around the world has resulted in high demand for personal care and cosmetic products and the use of clean-label ingredients in these products is on the rise, which is projected to influentially bolster demand for beta-damascenone in the long run. High demand for premium fragrance, expanding food processing industry, the increasing popularity of aromatherapy, and high investments in R&D of new beta-damascenone extraction and beta-damascenone synthesis processes are also slated to bolster market development going forward.
Why is Beta-Damascenone Demand Soaring in the European Region?
“Surging Popularity of Aromatherapy and Presence of Key Fragrance Manufacturers”
The rapidly expanding perfume and fragrance industry in the European region is projected to create an opportune scenario for beta-damascenone suppliers over the coming years. Growing awareness regarding personal hygiene, rising disposable income, expanding number of high net-worth individuals, high demand for premium personal care products, and increasing preference of consumers for clean label products are other key prospects that are slated to uplift sales of beta-damascenone going forward.
High focus on sustainability is pushing personal care product manufacturers to source their ingredients from natural origins, which in turn, is projected to favor shipments of natural beta-damascenone. Germany, France, Italy, and the United Kingdom are anticipated to emerge as highly opportune moneymaking markets in Europe over the next ten years.
Country-wise Insights:
Why are Beta-Damascenone Suppliers Flocking to China and South Korea?
“Surging Popularity of K-Beauty Trends and Booming Demand for Personal Care & Cosmetics”
Recent years have been a testament to the booming popularity of Korean beauty trends owing to the expansive popularity of K-dramas and K-Pop artists around the world. Korean glass skin and other popular skincare trends have gained global acceptance and this has resulted in an upsurge in demand for Korean personal care and beauty products.
Due to the aforementioned factors, the export of cosmetics and beauty products has increased from South Korea thereby creating a favorable scenario for beta-damascenone manufacturers and suppliers.
Will the United States be an investment-worthy Space for Beta-Damascenone Providers?
“Natural & Organic Beauty Movements Creating New Business Scope”
Demand for captivating natural fragrances and aromas in the United States has been increasing rapidly owing to the high preference for organic personal care products by consumers in the country. Consumer preferences in the country are being driven by the awareness created by different beauty movements that promote the use of clean-label and natural ingredients.
Category-wise Insights:
Beta-Damascenone from Which Source is Set to Be Most Sought After?
“Preference for Synthetic Beta-damascenone to Exceed Expectations”
Based on source, the global beta-damascenone market is segmented into natural and synthetic. Synthetic beta-damascenone has a more consistent flavor/aroma, is more cost-effective to manufacture and synthesize, has a lower environmental impact, and this is why the demand for it is projected to soar high across the forecast period and beyond. However, the willingness of consumers to pay extra for organic and natural aroma products is slated to create new opportunities for providers of natural beta-damascenone in the future.
Where Will Demand for Beta-Damascenone Increase Substantially High Going Forward?
“Personal Care Formulations to Account for Prominent Beta-damascenone Usage”
The global beta-damascenone market, based on application, is further segmented into personal care formulations and food processing.
The personal care industry has been expanding rapidly in recent years owing to the growing disposable income of the general population and high awareness regarding one’s hygiene and appearance. Beta-damascenone fragrance is a popular one and is used extensively in multiple personal care products such as perfumes, deodorants, shampoos, soaps, etc.
Competitive Landscape:
- In July 2023, DSM-Firmenich, a leading name in the fragrance industry space, announced that it had completed the acquisition of Adare Biome, a United States-based postbiotic ingredient developer at US$ 304.6 million. The acquisition enhanced Firmenich’s stance in several markets ranging from animal feed to medical nutrition.
- In April 2023, Givaudan, a renowned manufacturer of flavours and fragrances based in Switzerland, announced that it had completed the acquisition of a cosmetics ingredient line from Amyris Inc., a leading biotechnology firm. Givaudan reinforced its leadership in the biotech world through this acquisition.
