What is Global Carvone Market?
The Global Carvone Market is a specialized and in-depth study of the chemical industry with a special focus on the global market trend analysis. Carvone is a member of a family of chemicals called terpenoids. Carvone is found naturally in many essential oils, but is most abundant in the oils from seeds of caraway (Carum carvi), spearmint (Mentha spicata), and dill. The market is segmented into two types, namely L-Carvone and D-Carvone. The L-Carvone is derived from spearmint oil and D-Carvone is derived from caraway seeds and dill. The Global Carvone Market is expected to grow at a moderate pace with an increasing demand from various regions.
L-Carvone, D-Carvone in the Global Carvone Market:
The Global Carvone Market is further segmented based on its applications such as Daily Use Chemical Essence, Food Additive, Pharmaceutical, Agricultural, and Others. In the daily use chemical essence, Carvone is used in the production of perfumes and cosmetics due to its minty aroma. As a food additive, it is used in the food industry for flavoring a variety of products. In the pharmaceutical industry, it is used in the production of drugs due to its medicinal properties. In agriculture, it is used as a pesticide. The other applications of Carvone include its use in the production of biofuels and as a solvent in chemical reactions.
Daily Use Chemical Essence, Food Additive, Pharmaceutical, Agricultural, Others in the Global Carvone Market:
The Global Carvone Market was estimated to be worth US$ 53 million in 2022. It is projected to reach a value of US$ 70 million by 2029, growing at a Compound Annual Growth Rate (CAGR) of 4.1% during the forecast period from 2023 to 2029. The market is dominated by three major producers, namely Paramount Aromachem, Wanxiang International, and Renessenz, who collectively accounted for 81% of the market. China is the leading consumer of Carvone, accounting for 32% of the global consumption.
Global Carvone Market Outlook:
In conclusion, the Global Carvone Market is a growing market with a wide range of applications in various industries. The market is dominated by a few major players and China is the leading consumer. The market is expected to grow at a moderate pace during the forecast period.
| Report Metric | Details |
| Report Name | Carvone Market |
| Accounted market size in 2023 | US$ 55 million |
| Forecasted market size in 2029 | US$ 70 million |
| CAGR | 4.1 |
| Base Year | 2023 |
| 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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| Sales by Region |
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| By Company | Paramount Aromachem, Renessenz, Gem Aromatics, Shree Bankey Behari Lal Aromatics, Wanxiang International, Jishui County Shunmin Medicinal, Lvchang Chemical |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
