What is Global Terpenes Market?
The Global Terpenes Market is a vast and dynamic sector that has been gaining significant attention in recent years. Terpenes are a large and diverse class of organic compounds, produced by a variety of plants, particularly conifers, and by some insects. They often have a strong odor and may protect the plants that produce them by deterring herbivores and by attracting predators and parasites of herbivores. The global market for these compounds is vast, encompassing a wide range of industries and applications. The market's value was estimated at US$ 648 million in 2022, and it is projected to reach US$ 1005.5 million by 2029. This represents a compound annual growth rate (CAGR) of 6.4% during the forecast period from 2023 to 2029. The market is dominated by the top five manufacturers, who collectively hold a market share of about 15%. In terms of product types, Pinene is the largest segment, accounting for about 45% of the market.
Pinene, Limonene, Others in the Global Terpenes Market:
Pinene, Limonene, and others are the key segments based on the Global Terpenes Market. Pinene is the largest segment, accounting for about 45% of the market. It is a bicyclic monoterpene chemical compound that is one of the two isomers of pinene. It has a strong pine-like aroma and is used in a variety of applications, including as a flavoring agent, a fragrance ingredient, and a biofuel. Limonene, on the other hand, is a colorless liquid hydrocarbon classified as a cyclic monoterpene, and is the major component in the oil of citrus fruit peels. It is used in a wide range of applications, including as a flavoring agent, a fragrance ingredient, and a solvent in cleaning products. Other terpenes include compounds such as myrcene, linalool, and terpinolene, each of which has its own unique set of properties and applications. These terpenes are used in a variety of industries, including cosmetics, pharmaceuticals, food, and others.
Cosmetic, Pharmaceutical, Food, Others in the Global Terpenes Market:
The Global Terpenes Market finds usage in a variety of areas, including cosmetics, pharmaceuticals, food, and others. In the cosmetics industry, terpenes are used as fragrance ingredients in products such as perfumes, lotions, and soaps. They are also used as flavoring agents in the food industry, adding a unique taste to a variety of foods and beverages. In the pharmaceutical industry, terpenes are used in the formulation of a variety of drugs, due to their therapeutic properties. For instance, some terpenes have anti-inflammatory, antibacterial, and antifungal properties, making them useful in the treatment of a variety of conditions. Other applications of terpenes include their use as solvents in cleaning products, as biofuels, and in the production of resins and adhesives.
Global Terpenes Market Outlook:
The global Terpenes market has shown a promising growth trajectory, with a valuation of US$ 648 million in 2022, and an anticipated value of US$ 1005.5 million by 2029. This indicates a steady compound annual growth rate (CAGR) of 6.4% during the forecast period of 2023-2029. The market landscape is moderately concentrated, with the top five manufacturers holding a combined market share of approximately 15%. Among the various product types in the Terpenes market, Pinene holds the lion's share, contributing to about 45% of the market. This dominance can be attributed to its wide range of applications in various industries, including cosmetics, pharmaceuticals, food, and others.
| Report Metric | Details |
| Report Name | Terpenes Market |
| Accounted market size in 2022 | US$ 648 million |
| Forecasted market size in 2029 | US$ 1005.5 million |
| CAGR | 6.4% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Arora Aromatics, Mentha & Allied Products, AOS Products, Kraton, Natural Fractions, Interstate Commodities, Himachal Terepene Products, YASUHARA CHEMICAL, Jiangxi Jishui Xinghua Natural Spice |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
